Betaspring in 2009 - give aspiring entrepreneurs minimal capital and maximum guidance, and launch them fast. In an economy that remains constricted in terms of funding, it's a model with increasing relevance, and smart eyes are on the new crop of ventures that spend will spend 12 weeks in Betaspring's intensive annual summer program." />

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11 to Watch in 2011: Betaspring Founders Allan Tear, Owen Johnson & Jack Templin

Thursday, December 30, 2010

GoLocalProv Business Team

 

Entrepreneurs Allan Tear, Owen Johnson, and Jack Templin got it right when they co-founded Betaspring in 2009 - give aspiring entrepreneurs minimal capital and maximum guidance, and launch them fast. 

In an economy that remains constricted in terms of funding, it's a model with increasing relevance, and smart eyes are on the new crop of ventures that spend will spend 12 weeks in Betaspring's intensive annual summer program.

It makes this trio, and Betaspring's yearly crop of teams, one of RI's hottest commodities in 2011.

Heavy on mentorship, Betaspring rosters more than 50 experienced entrepreneurs, industry experts, design brains, and academic faculty who share their knowledge on ways to move from prototype to business. Further,

Betaspring provides a small amount of seed capital (up to $20,000... what Tear has famously described as "rent and ramen money"), free legal counsel, incorporation filing, and other legal legwork to help its summer teams get ready for prime time.

Finally, the company provides the opportunity for each team to demo its prototype to a group of investors, an event that attracts forward-thinking funders as well as national press.

It's more like a turbo-launch than a spring. Just ask Ji Kim, founder of Dijipop, a 2009 Betaspring company that subsequently attracted about $1 million in funding.

Not content to rest, the co-founders are piloting a winter program at Betaspring and are looking for four teams. Check the latest out right here.

Photos from top: Allan Tear, Owen Johnson, Jack Templin.
Photos of Tear and Johnson: batchbluesoftware. Photo of Jack Templin: Brian Jepson.
 

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