Making their debut within throwing distance of Radio City Music Hall, the first 14 startups to graduate from the New York version of the DreamIt Ventures accelerator program presented to investors on Wednesday. Demo day brought to a close three months of mentoring that helped these fledgling companies strengthen their plans. Now that they have pitched their companies to an audience of angel investors and venture capitalists, the real work begins as these startups strive to make good on their ambitions.
DreamIt Ventures is a pre-seed-stage venture firm in Bryn Mawr, PA that runs an identical incubator program in Philadelphia. Mark Wachen, a managing partner with DreamIt, says the program offers funding and guidance from mentors who work one-on-one with their assigned startups. “We match each company with a seasoned entrepreneur, someone who’s made the commitment to spend three to five hours with the company each week,” Wachen says.
During the program, the startups occupy a shared office and attend weekly workshops and lectures. Wachen says the speakers include notable financiers such as Fred Wilson, principal of Union Square Ventures, as well as new entrepreneurs with fresh experience. “It’s important for people to have input from not just the marquee names but also people who got their company started in the past three years,” Wachen says.
DreamIt Ventures is but one of several business accelerator and pre-incubator programs taking a shine to
