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.