With the goal of creating a “pre-screened Rolodex of how to start up a company,” Netrepid is launching a pro bono, virtual business incubator for Pennsylvania entrepreneurs.
The Netrepid Virtual Incubator will enroll three startups each month for a year of technology services, mentoring and other support.
CEO Sam Coyl of Enola's Netrepid, a veteran of Silicon Valley, says the need became apparent to him during involvement with startup weekends in Harrisburg and Lancaster and that the incubator will initially focus on central PA. “That ecosystem just doesn't exist [there]. These entrepreneurs don’t feel they have access to mentors and the support they need to get off the ground.”
From its data center in Harrisburg, Netrepid will manage the incubator and provide enrolled startups with up to $500 a month in customized technology solutions, such as email, web or cloud hosting. Participants will also get a one-year membership to the Technology Council of PA and access to business mentoring from the incubator's board of advisors, which includes established businesses and organizations including TechQuest PA, the Ben Franklin Incubation Network at Carlisle and the Harrisburg Regional Chamber.
The incubator launches on January 1 and applications are being accepted. So far, Coyl says, applicants include several technology startups, a manufacturer focused on streamlining, a medical device maker and a robotics firm.
Each month, the board will select up to three participants – two early-stage startups and one startup with a working prototype or minimum viable product – through a rolling nomination and competition process.
Coyl hopes the incubator will foster a more robust environment for startups, ultimately providing more access to capital, creating jobs and driving economic growth. “The state of Pennsylvania has a very innovative, talented ecosystem of entrepreneurs, but it’s a best-kept secret,” he says. “The goal of this program … is to help accelerate the growth of this ecosystem.”
Source: Sam Coyl, Netrepid Virtual Incubator
Writer: Elise Vider