With the second quarter coming up it’s time for incubator programs to get moving, helping out startups and putting them on the right track for growth and success throughout the rest of the year and beyond. A handful of incubator programs, including Capital Factory, Launchbox Digital, and Angelsoft, have already taken the steps to seek out the companies they’ll be working with this spring and summer, in an effort to have well-run programs that are beneficial to the entrepreneurship experience even in the current economic climate.

Capital Factory has in fact chosen its final 10 mentors that will be advising the startups participating in their incubator program. The Austin-based technology incubator has announced its advisors as Andrew Busy, founder and CEO of Challenge Games, Russel Hinds, former Chairman and COO of Sponsorwise, Kip McClanahan, former CEO and board member to several companies including 3Com/TippingPoint, andAdam Moor, co-founder of Springbox, to name a few.
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Despite the dismal outlook of the economy and the changed landscape of venture capital funding for web-based companies, a new technology incubator program called Capital Factory is launching in Austin this week. Founded by local entrepreneurs Joshua Baer, Same Decker and Bryan Menell, the new incubator program is currently accepting applications for its first 10-week summer program. Beginning on May 22nd, the summer program for the chosen 10 startups ends in August with a live-streamed presentation from participants, so investors and others interested in the startups can see the culmination of Capital Factory’s first run at an incubator program.

There’s the expected emphasis on mentorship with the Capital Factory, but there’s also some cash rewards as well. Participating startups can receive up to $20,000 and office space, along with some basic IT infrastructure options and recruiting support, among other things.

And Austin is a good city for an incubator program focused on technology, as there’s already an established community of successful entrepreneurs and ready access to other necessary resources for the startup environment. Lucky for the Capital Factory, the deadline for accepting applications is shortly after SXSW, which is also based in Austin.
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