TLDR:
- Prominent VC launches new twist on accelerator concept following demise of Techstars Seattle
- Seattle Foundations will offer co-working space, events, and founder circles to accelerate startups
An entrepreneur and investor with ties to the now-closed Techstars Seattle program is spearheading a new initiative in Seattle called Seattle Foundations. Aviel Ginzburg, along with a team of entrepreneurs, is creating an invite-only organization and shared workspace designed to support tech founders by providing co-working space, access to events, and private founder circles for transparent discussions about startup challenges. Unlike traditional accelerators, Seattle Foundations will operate as a benefit corporation, aiming to turn a profit while prioritizing social and public good.
The group plans to offer a six-month membership to a select group of founders, providing them with mentorship and access to the shared office space. The founders will be required to meet specific milestones to become permanent members of Seattle Foundations. The organization does not plan to charge membership fees or take equity from the startup participants, but is open to the possibility of investing in the companies involved. Ginzburg is looking to raise $500,000 from investors to help fund the initial operations of Seattle Foundations.
With the goal of creating an entrepreneurial community in Seattle, Ginzburg and his team are focusing on attracting veteran startup leaders and providing regular events and networking opportunities. They believe that Seattle has the potential to become a great place to found a business, and are working towards building a supportive ecosystem for entrepreneurs in the region.
Seattle Foundations is set to launch later this year, with plans to offer a unique approach to supporting startups in the Pacific Northwest.
