DreamIt chooses Mark Wachen to lead New York accelerator

Philadelphia-based startup accelerator DreamIt Ventures recently announced plans to open an office in New York City. Now it’s revealed who’s going to be running it — entrepreneur and investor Mark Wachen.

Managing partner Kerry Rupp said that DreamIt’s four Philadelphia partners will all be involved in choosing the NYC companies and hope to be in New York at least once a week, but they also knew they needed a full-time presence in the city. Wachen, meanwhile, is a successful entrepreneur (he sold his startup Optimost to Interwoven in 2007 for $52 million), an early-stage investor through Upstage Ventures (he invested in DreamIt alumnus SeatGeek), and a lifelong New Yorker (he said the only time he moved out of the city was to go to college and graduate school).

For his part, Wachen said he’s excited to see the New York startup scene finally taking off, something he attributes to the fact that there’s finally a big pool of startup capital and technical talent. That’s why efforts like DreamIt are crucial to building that momentum.

“It seems like the reality has caught up with the hype,” he said.

Mark WachenThe DreamIt NYC program will run from May to August of this year. Applications are now open, and the incubator said it will accept between 10 and 15 startups, with five being in digital education through a partnership with Startl.

Rupp noted that you don’t have to have a great company idea in order to join — in fact, that’s why the group has tracks for “hackers” and ‘“strategists”, so that great programmers can be paired up with people who know how to build a real business. Location-based startup Scvngr, another famous DreamIt graduate, is one company that’s attributed its early success to that kind of pairing, Rupp said.

[top image via Flickr/Swaminathan]

Trackbacks

  1. [...] Ventures previously announced that entrepreneur and investor Mark Wachen will lead the New York program, which is taking applications on a rolling basis. The class will run from May to August and will [...]

  2. [...] of several accelerators and incubators which are minting new classes of top tier startups. Today DreamIt Ventures is announcing its newest class of 15 companies for its New York Accelerator with a presentation at [...]

  3. [...] of several accelerators and incubators which are minting new classes of top tier startups. Today DreamIt Ventures is announcing its newest class of 15 companies for its New York Accelerator with a presentation at [...]

  4. [...] of several accelerators and incubators which are minting new classes of top tier startups. Today DreamIt Ventures is announcing its newest class of 15 companies for its New York Accelerator with a presentation at [...]

  5. [...] of several accelerators and incubators which are minting new classes of top tier startups. Today DreamIt Ventures is announcing its newest class of 15 companies for its New York Accelerator with a presentation at [...]

  6. [...] minting new classes of top tier startups. Today, in a presentation at Google Ventures in Manhattan, DreamIt Ventures announced its newest class of 15 companies for its New York [...]

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  10. […] Wachen, the founding managing director of DreamIt Ventures New York since 2011, has been replaced by Andrew Ackerman, a serial entrepreneur and angel investor. With […]

  11. […] siedzenia Geek i , poinformowała kluczowe zmiany przywództwa w Nowym Jorku. Mark Wachen, dreamit Ventures założycielem dyrektorem New York z w 2011 r., został zastąpiony przez Andrew Ackerman […]

  12. […] Wachen, the founding managing director of DreamIt Ventures New Yorksince 2011, has been replaced by Andrew Ackerman, a serial entrepreneur and angel investor. With […]