Image via WikipediaY Combinator was set up by entrepreneurs to assist entrepreneurs start-up. Y Combinator works in batches with chosen companies joining a three month programme held alternative on the East and West Coast. They provide lots of advice and make small investments of up to $20,000 for between 2-10% of the equity. You fill in the form, meet the executive team and get working. Y Combinator concentrates on low overhead start-ups and so favours young teams aiming at large customer targets such as social networks.
Seedcamp is run by the busy Saul Klein of Index Ventures and Open Coffee Club fame. Seedcamp searches Europe for bright teams with quick start-ups but only offers a one week course in London.
The Cambridge Cluster should combine the best of both courses and offer a three month residential start-up in July, August September of each year led by the Cambridge Angels. It should take over from Running the Gauntlet which supports the business planning process but not the really difficult part of getting the business up and running. July could be kept for business planning and getting the site set-up, August the angels will be away and the groups can start promoting the site and with the angels returning refreshed in September for the big, power launches.
It needs to be led by angels and successful entrepreneurs and supported by academics with lots of emphasis on getting groups to interact, work together and pitch and sell. So a little bit of the best of the Apprentice as well. Each week there will be a limited amount of resources for travel and other costs to be bid for so it will be a tough school. However it will take great skills to run it to make the sure the talented geeks are encouraged and supported to be creative and not stressed by the phrase “You’re fired!”. There is only one measure of success – customer engagement. Remember, remember the Michael Birch way – get the customers to the site, get the customers to use the site.
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