Orem-based startup accelerator BoomStartup announced a 50 percent increase from last year in the program's investment capital, as well as an increase in the technology provided to startup companies.
BoomStartup increased its seed invest for this year to $20,000. The company also has provided more than $80,000 in technology, office space and other professional services to help accelerate startup growth.
“The lean startup approach makes accelerator programs such as BoomStartup more attractive than traditional venture capital to many entrepreneurs. Ideas have a greater propensity to turn into real businesses and provide a real return when entrepreneurs have the mentoring and resources to keep their focus on quickest path to revenue," said Rob Kunz, co-founder of BoomStartup, in a statement.
BoomStartup announced its third mentorship-driven investment program during a technology event held today.Comment on this story
Experts in lean startup principles Steve Blank and Alex Osterwalder attended the event.
The program will end with a day dedicated to participants pitching to more than 100 different investors and venture capitalists.
BoomStartup will select 10 companies to receive these services in its 2012 program. Companies interested in participating must apply online by April 15.
BoomStartup is considered to be one of the top 15 startup accelerators in the United States. The company's focus is to supply money and mentoring to help technology businesses grow.