Spark Capital unveils new seed program Start@Spark

March 25, 2009 | Camille Ricketts | Comments | |

Spark Capital, a venture firm focused on media, entertainment and technology investments, announced the kick off of its new seed-funding program, Start@Spark. The new initiative will give out funds in chunks of up to $250,000 to incubate early-stage companies in the New York and Boston areas before they seek formal rounds of capital.

The firm, based in Boston itself, asks that startups interested in the program sign up on their web site with preliminary information. Those that fit Spark’s criteria will be granted an in-person presentation with the team and will find out relatively quickly whether or not they will receive financing.

The purpose of the program is to spur technology and innovation in the northeastern region of the U.S., where Boston is the only real bastion of tech power (still dwarfed by its Californian cousin). This same spirit prompted the firm’s Alliance for Open Competition, a loose network of investors and entrepreneurs who work together to bust non-compete clauses to heat up competition.

As paidContent points out, Start@Spark fits neatly into a new trend of large firms setting up small-scale seeding operations. The key example of this from last week is Sequoia Capital’s partnership with angel investment group YCombinator to offer seed grants between $5,000 and $20,000 to fund promising concepts.

In the past, Spark has invested in several major companies sitting at the intersection of technology and media, including Twitter, Tumblr, web application company Akamai Technologies, and content syndication service thePlatform. It is currently managing $622 million and is also a benefactor of TechStars, a similar seed initiative with a strong mentorship component based in Boulder, Colo.

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About the Author, Camille Ricketts

Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.

With GreenBeat 2009, VentureBeat's all-star conference on all things Smart Grid, coming up in November, Camille will be expanding coverage of this exciting space. Stay up to date by following @greenbeat2009 on Twitter or by becoming a fan of the event on Facebook here.

  • For anyone who has the money to invest..I say more power to them. I really don't along with the others who can't even afford their rent. I guess the entertainment industry is a good field to get into anyways :)
  • Correct me if I'm wrong, but I believe Spark was never an investor in Akamai Technologies.

    Todd Dagres, the founder of Spark, led the investment in Akamai when he was at Battery.
  • elliottdahan
    Between Sequoia / Y Combinator and Spark/TechStars and the bunch of Visibility/Vanity funds out there, it seems that folks see the need and the opportunity, but they cannot break with their old business models and old habits.

    Rather than another Charles River Ventures “Quickstart” or any Y Combinator / First Round / TechStars visibility fund, I believe that the best way to source, screen and, most importantly, provide post Seed investment mentoring and oversight is a Public-Private For Profit dedicated effort to work with, support and compensate the Seed Infrastructure (Incubators, Economic Development Agencies, Tech Transfers).

    This infrastructure already exists and provides the efficient sourcing, screening and post-investment oversight needed to develop Series A worthy companies. What is needed is a dedicated effort that is not geographically constrained. What is needed is a thorough Virtual Incubation system that brings both Community and Collaboration to all elements of the total Investing community.

    Please review - http://www.slideshare.net/ElliottDaha....

    I look forward to any comments and suggestions on The START Fund.

    Thank you,

    Elliott Dahan
    elliott(a)thegrowthgroup.com