Ed-tech accelerator Imagine K12 announced that it will increase its initial funding for startups from $20,000 to $100,000.
This additional funding is available from the newly established “Start Fund,” backed by Y Combinator founder Paul Graham, Yahoo co-founder David Filo, Angela Filo, LinkedIn CEO Jeff Weiner, NewSchools Venture Fund, and GSV Asset Management.
Imagine K12 is focused on helping entrepreneurs develop technology for students from kindergarten to high school.
In just two years, Imagine K12 has established itself as one of the most well-respected programs in part because of its efforts to reach teachers. Thirty-nine startups have graduated from it, and these have gone on to raise approximately $30 million in funding.
Each startup accepted into the program will receive a $20,000 check from Imagine K12 and $80,000 from the Start Fund.
“The funds will give entrepreneurs enough time to get the right market fit so [they] can take root in the educational system,” said Imagine K12 founder Tim Brady by phone. “And our startups have built products that are used in hundreds of thousands of classrooms.”
Brady claims that the accelerator’s alumni have launched products deployed by 10 percent of teachers. Some of the most well-known graduates from previous batches include behavior management software ClassDojo and open-data startup LearnSprout.
Interested in applying? Applications are now open for the official program, which begins in September in Palo Alto, Calif.
photo credit: @Photo. via photopin cc