In March we wrote about the launch of Imagine K12, a new startup incubator modeled on Y Combinator that is focused on the education space. It was founded by startup veterans Geoff Ralston, Tim Brady and Alan Louie.
The company sorted through some 200 applications, interviewed 36 startups and made offers to ten startups for the first class this summer. All accepted, took an average of $20,000 in funding for an average of 6% of their equity, and moved to Silicon Valley.
Those startups are now hard at work to launch by the first Imagine K12 demo day in September. They’re also getting lots of attention and mentoring via a weekly dinner and office hours.
The largest team is four people, say Ralston. There are a total of 24 founders among the ten startups.
New applications for the next class are being accepted starting July 1.