Tech accelerator gives applicants more time

  • Article by: WENDY LEE , Star Tribune
  • Updated: January 23, 2012 - 8:46 PM

Online firms have three weeks to apply for Project Skyway's second class.

Project Skyway reopened its application process on Monday, giving the tech accelerator more time to attract promising online businesses for its three-month program.

Applicants must apply before Feb. 14 for the accelerator's second class that begins in March. Project Skyway had originally planned to stop taking applications in mid-December and start in February.

"We want to be as thoughtful as possible that the companies are a great fit for our program and our region," said co-founder Casey Allen.

Project Skyway has undergone a lot of scrutiny in the tech community, due to problems that occurred in its inaugural class. Some entrepreneurs were unhappy with the amount of ownership they had to give up in exchange for Project Skyway's perks, such as workspace, funding and access to mentors and developers.

Allen said for its second cycle, Project Skyway has a "much more narrow focus" on the companies it will select.

"It's partially because we're smarter on what companies are a good fit and because we're particular about what companies and teams we want," Allen said. "In an effort to find more of these companies and teams, we thought it would be a smart idea to have the application process open a little longer."

Allen said the program is looking for companies that are around the launch phase and in an industry with a proven track record of being funded in the area.

Project Skyway declined to say how many applications it received, but said applicants have come from four countries and five states.

"We are far from perfecting this, but like every entrepreneur, we're refining and experimenting and getting better incrementally," Allen said.

Wendy Lee • 612-673-1712

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