TECHLAUNCH TAKES N.J. TECH STARTUPS TO BOOTCAMP
By Stacy Jones/Star-Ledger
September 27, 2012
When Mario Casabona reminded TechLaunch’s 10 resident CEOs on Tuesday to start thinking about tax returns, the room filled with groans and sighs.
The truth is that poring over Schedule C or 1065 forms is a good problem to have. As the first TechLaunch cohort, the entrepreneurs had $20,000 to spend on their startup companies and several even managed to find paying customers.
TechLaunch, a startup itself, is the state’s first technology accelerator. With a $150,000 investment from the New Jersey Economic Development Authority, and twice that in matching funds from private investors, the center has been mentoring, educating and grooming 10 early-stage companies for a Nov. 1 debut with investors. New Jersey hopes if it builds a startup-friendly ecosystem, with accelerators, incubators and affordable co-working spaces, the entrepreneurs will stay instead of flocking to New York City or Silicon Valley in California.