I’m going to start a new series titled Atlanta Startup Advantages and talk about some of the many great attributes Atlanta has for young technology companies. With today’s technology, companies are able to be so much more capital efficient, and take advantage of the many resources a city like Atlanta has to offer. Here are some topics that come to mind:
Please let me know of other topics to add to the list.
My previous post on a Y Combinator for Atlanta has generated a good bit of off-line interest. Here are the most common questions I’ve been asked:
- How would you choose the teams?
- Do you think there will be enough interest and applications?
- How will it differ from the original Y Combinator?
- What happens to the teams at the end of the program?
We’ll find out these answers and more over the next 12 months.
Lance Weatherby has an interesting post titled “Who Wants Seed Money?” in which he discusses the idea of a Y Combinator for the Southeast. I’m a proponent of the idea and was part of the discussions last year with the people he mentions. Mike Landman and I hashed out the idea once again today at lunch and concluded that Atlanta really needs such a program. Mike is heading up the EO Accelerator program for Atlanta which helps entrepreneurs with businesses between $250k and $750k grow to $1 million plus so as to be eligible to join EO (which I highly recommend).
Naturally, Mike and I dove right into some of the details of doing a Y Combinator for Atlanta. We each have a couple thousand extra square feet at our respective corporate offices to provide a co-working environment. What are some of the other costs? Here are the initial thoughts on costs on an annual basis:
- Managing Partner – volunteer (~$5k in expenses to talk at regional organizations and schools)
- Part-time Program Coordinator – $20k
- 5 teams in one summer class @ $20k investment per team – $100k
- Office space (2,000+ sq feet for 20 people) – $25k (possibly less)
- Legal – $5k
- Accounting – $3k
- Miscellaneous (food, infrastructure, etc) – $7k
- Cushion (more people per team than expected, legal/accounting in future years) – $10k
Total: $175k annually