Shotput Ventures is a new technology startup accelerator fund (some might call it an incubator but technically it’s not since, among other things, the companies don’t work out of the investor’s space) sprouting in Atlanta. Backed by an impressive team of serial entrepreneurs, I think SPV is poised to grow promising tech startups in Atlanta.
The concept is similar to Y Combinator:
We invest $5,000 per team and $5,000 per founder as part of a coordinated program that will have eight companies in the summer of 2009 in Atlanta.
This has been a long time coming. While Skribit won’t be applying (we’re only just starting to sip funds from our recent investment), I’m anxious to see what startups it will create. I remember an email conversation I had with Wayt King (of Shotput Ventures) dating back to October 2006:
I want to fund/help young GT hackers (recent grads, or still
in school) start web services businesses. My premise is that building such
businesses is easy/cheap now (see YCombinator.com at Stanford), and that small teams can accomplish lots with a little funding and some startup advice.
His description back then still rings true today with what Shotput Ventures is looking to accomplish.
Shotput Ventures held an Open House event yesterday evening; essentially a meet and greet held by the SPV founders for friends and potential applicants. It was held at David Cummings’ Hannon Hill offices in Buckhead Atlanta. Shotput Ventures starts accepting applications this Friday, March 6th, so get in touch with them if this is relevant to your interests.
TechDrawl has a great Shotput Ventures overview that’s a must-read for anyone considering applying for Shotput Ventures.
Thoughts? I propose we revive Startup Drinks once the program gets off the ground and Atlanta has 8 or so more tech startups.
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I really wish I could’ve attended their open house, but what can you do when Tech gives you tons of homework :\
Couldn’t be more excited about this and similar developments in Atlanta. Hope they get many and solid applications.
btw@stammy thanks for the nice write up of the open house last night – http://bit.ly/12wjop
This comment was originally posted on Twitter
Sanjay,
I very much agree. Lack of these skills is a very widespread problem, not only in venture capital, but also in private equity firms serving more established companies. It’s amazing how many MBAs whose previous experience is limited to Wall Street are at these firms touting their operating experience.
This comment was originally posted on http://www.sanjayparekh.com/)“>(Sanjay_Parekh) == (Rambling)
Last night’s gathering was the most energetic, exciting startup gathering to date in this city. Go ATL. Go Shotput.
This comment was originally posted on Hacker News
I think that this is certainly much welcomed to us Atlantans. I am sorry that I missed it, but happy to have learned about it here.
This comment was originally posted on Hacker News
Then @stammy went over to Shotput Ventures and reported on their open house. http://bit.ly/SPVOpenHouse
This comment was originally posted on Twitter
Reminds me of a few things mentioned in Paul Graham’s Essay, “Why Move to a Startup Hub”.
“In fact, the quality of the investors may be the main advantage of startup hubs. Silicon Valley investors are noticeably more aggressive than Boston ones. Over and over, I’ve seen startups we’ve funded snatched by west coast investors out from under the noses of Boston investors who saw them first but acted too slowly….”
http://www.paulgraham.com/startuphubs.html
This may also interest you:
http://www.paulgraham.com/maybe.html
Not sure if you’ve read those, but I find you may like the information in them :-)
Hopefully Shotput Venture’s endeavors will be the beginning of Atlanta’s future as a consistent and stable startup hub.
This comment was originally posted on http://www.sanjayparekh.com/)“>(Sanjay_Parekh) == (Rambling)