Blue Startups, a new startup accelerator founded by Henk Rogers of Blue Planet Software (sole agent of Tetris®), is accepting applications for its first cohort of startup companies.
Blue Startups is recruiting capital-efficient and scalable-technology companies, including Internet, software, mobile, gaming and e-commerce. The program is also targeting companies that focus on Asia. For more information, visit: http://www.bluestartups.com.
Blue Startups aims to become a nexus of entrepreneurial activity not only in Hawai‘i, but also between Asia and the Continental U.S. Key relationships to this strategy include: 500 Startups (a seed fund and venture accelerator with Silicon Valley roots and a global footprint), Nest GSV (international business accelerator in Silicon Valley), Movida Japan (Japan-based accelerator), East-West Center, and Japan America Institute of Management Science.
Blue Startups has received preliminary notification of funding from the State of Hawai‘i through the Hawai‘i Strategic Development Corporation.
A network of more than 50 mentors has been developed by Blue Startups reaching from China and Japan to Silicon Valley. The interaction of mentors with teams will assist in developing Hawai‘i as a node of entrepreneurship by bringing in expertise, capital and other resources from across the Pacific.
“Blue Startups represents the development of our local entrepreneurial ecosystem,” said Founder Henk Rogers. “By attracting talented entrepreneurs to our community, we enhance it. We believe the best will be enticed to stay in Hawai‘i long-term, because they get their early mentorship, investment and support here. Many will end up building several companies, and that’s a powerful dynamic when you’re talking about ten to 20 companies per year. Blue Startups is about building the local entrepreneurial ecosystem long-term.”
Blue Startups is a prospective member of the Global Accelerator Network (GAN) that provides extensive resources of this network of more than 50 accelerators globally.
Companies entering the Blue Startups program will receive $20,000 as an up-front investment, and access to more than $100,000 in in-kind services. The program will allow a company to access the resources needed to move to the next level. Workspace for the founding team (up to three people) will also be provided at Blue Startups offices in Downtown Honolulu. In exchange for the capital and in-kind services provided, Blue Startups will take an equity stake in each company.
“People make innovation happen, that growth follows effective execution, and that sustained success will require access to global resources.” said Chenoa Farnsworth, Blue Startups managing director.
Local sponsors and partners include Hawaii Angels, The Box Jelly, Hawaii Renewable Energy Development Venture, Startup Weekend Honolulu, Startup Hawaii and Hastings & Pleadwell: A Communication Company.