Betaspring Mentors Entrepreneurs from Across the Country
Saturday, March 10, 2012
Betaspring hosted a prosperous open house Thursday in its new digs located in the historic Russell Irons building in Providence’s Jewelry District. The open house was made possible by many who donated their time and amenities.
The sold out event attracted nearly 300 registrants, who had the chance to interact with the 16 companies featured in Betaspring’s mentoring program. Guests enjoyed refreshments from local establishments Catering Gourmet, Gasbarros, and Granny Squibb.
Mayor Angel Taveras endorsed his enthusiasm and support for Betaspring and the progress in furthering development in the city.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“Mentorship is key, and Betaspring knows that,” Taveras stated. “We are thrilled to have Betaspring here.”
General Treasurer Gina Raimondo, and RIEDC Executive Director Keith Stokes were also present at last night’s open house.
The 16 teams taking part in the intensive 12 week Betaspring accelerator program showcased their products and concepts last night during their 30 second pitches to the curious and eager and audience. Contrasting last night’s presentations to the original pitches conducted in earlier weeks of the program, companies have gained confidence and positive feedback from the experienced Betaspring mentors.
Thumbs Up, a platform that lets viewers rate and share TV moments in real time, is a startup company that has benefitted greatly from the staff of Betaspring. Cass Sapir, founder of Thumbs Up, explained “When you have an idea for a startup, you have a tremendous amount of energy, but to harness that energy into an incredible product or experience is impossible to do by yourself.” He spoke very highly of the training program and proclaimed every mentor to be a perfect 10.
Expansion into the 95 Chestnut location is allowing Betaspring to offer graduating companies an additional 10 weeks of free office space, an option especially helpful to companies contemplating permanent re-location to Rhode Island.
Prepmatic, test prep tools that increase standardized test scores through a fun approach, is one of the companies that will continue to utilize the supplied office space after the conclusion of the program.
When Elie Schoppik, CEO of Prepmatic, was asked about his experience with Betaspring, he noted that “The mentors at Betaspring are the most humble people I’ve ever met. It’s incredible being surrounded by like-minded people all day everyday.”
Schoppik’s partner and CTO of Prepmatic, Andrew Sohn, added: “Betaspring has proven to me that innovation can happen anywhere.”
Betaspring’s network of over 80 mentors has connected the companies in the program with the expertise and resources they need to bring their startup to the next level. The financial support Betaspring offers the teams has had a significant impact on their development and growth. The financial benefits have also been a determining factor for some of the teams in their choice to permanently reside in Rhode Island after the completion of the program.
Stephen Churchville, President of LessonWriter, a tool that turns today’s media content into structured lesson plans for classroom teachers, stated: “With a startup with minimal revenue, it is difficult to plan ahead. Betaspring has helped us crystalize our intentions and move ahead with our commitments.”
Betaspring has brought an extremely realistic and tangible approach to starting a business and has helped the accelerator teams in inconceivable ways, according to Allan Tear, one of the organization’s founders
“We’re trying to change the conversation about what is required to be successful,” Tear said.
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