February 6, 2012

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Boomstartup Kicks Off Mentorship-Driven Investment Program

Press Release

February 6, 2012

BoomStartup kicked off its 2012 Mentorship-Driven investment program at a Utah technology event, which featured renowned experts in lean startup principles Steve Blank and Alex Osterwalder. One of the Top 15 Accelerators in America, BoomStartup is designed to provide money, mentoring and business connections to help tech businesses find the quickest path to revenue and growth.

“It’s an honor to announce this year’s program with the in-person support of Steve Blank and Alex Osterwalder. BoomStartup embraces and teaches its proven lean startup principles for customer acquisition and business model development,” said Robb Kunz, co-founder, BoomStartup.

Blank, founder of eight companies and author of Four Steps to the Ephiphany, and Osterwalder, author of Business Model Generation, headlined a business luncheon in Sandy, Utah where they shared their expertise to an audience of more than 450 on building a lean startup. For technology entrepreneurs, lean startup principles includeexploiting the falling costs of getting businesses up and running while emphasizing an early and continuous focus on customers.

Kunz added, “The lean startup approach makes accelerator programs such as BoomStartup more attractive than traditional venture capital to many entrepreneurs. Ideas have a greater propensity to turn into real businesses and provide a real return when entrepreneurs have the mentoring and resources to keep their focus on the quickest path to revenue."

In addition to kicking off this year’s program, BoomStartup also announced that it is increasing its seed investment to $20K and the value of its in-kind services such as tech infrastructure, office space and professional services from providers such as Rackspace, Paypal and Microsoft, to more than $80K. This brings the total benefit/investment to each company selected for the program to more than $100K, a 50 percent increase from last year.

BoomStartup will select up to 10 companies to participate in its 2012 program, which runs from May to August. More than 50 mentors are supporting the program including successful entrepreneurs, CEOs and investors. BoomStartup 2012 concludes with a Demo Day in Park City, Utah where participants make their pitch to more than 100 angel investors and venture capitalists, hoping to get additional funding and make connections that will further accelerate their business.

In addition to helping entrepreneurs get new ideas off the ground, BoomStartup also helps companies that have launched but need help accelerating revenue growth. Companies interested in participating should apply by April 15 at 11:59 pm at www.boomstartup.com.

Individuals interested in getting involved orjoining the BoomStartup team as a mentor or associate can contact Robb Kunz at rkunz@boomstartup.com.

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