NextStart is the latest Y Combinator-esque startup incubator to emerge to support young entrepreneurs and their ideas. The Greenville, South Carolina-based organization is offering a summer immersion entrepreneur development program to attract promising entrepreneurs to the Carolina region.
The program works similarly to other incubators like Y Combinator and TechStars in providing seed money, VC connections, and mentoring to company founders to develop their ideas, incorporate their companies, and then help find funding for their startups. NextStart will give startups $5,000 to $10,000 in return for “founders stock” of 5 to 10 percent. The twelve week program will run during the summer in Greenville and will give entrepreneurs office space, internet access and other professional services. Startup teams will be immersed in a business planning program, FastTrac by the Kauffman Foundation, to develop a solid business plan and will also work with the Spiro Institute for Entrepreneurial Leadership at Clemson University.
NextStart joins a constantly growing number of programs trying to appeal to young entrepreneurs. Aside from Y Combinator, which pioneered the idea, other incubators include TechStars (Boulder and now Boston), LaunchBox Digital (Washington, D.C.), DreamIT Ventures (Philadelphia), and Shotput Ventures (Atlanta), and Capital Factory (Austin).