Project Skyway, a tech accelerator, confirmed on Friday that a third business has dropped out of the program.
Tech firm Picomize said it believes business would be better developed in New York. Picomize lets web designers place photo requests online and encourages commercial photographers to compete for those requests.
Project Skyway has gotten off to a rocky start since it began in August. The three-month program gave eight promising tech firms financial support, space, mentorship and other services in exchange for equity. Today there are only five companies still in the program.
“We decided to go our separate ways,” said Evan Freed, Picomize’s co-founder.
Freed said Picomize will not be a part of Project Skyway’s upcoming event, where participating companies present their products to potential investors.
Picomize, which started at Project Skyway under a different name and concept, received $12,000 in financing from the accelerator. Picomize will get to keep that funding. Augusoft, a tech firm founded by entrepreneur Cem Erdem, will keep a six percent equity stake in the business. Erdem is Project Skyway’s founder.