On the heels of announcing the graduation of 25 companies from Adeo Ressi’s Founder Institute East Coast outposts, the startup incubator is launching in another East Coast hub: Boston. Announced in March 2009, the Founder Institute offers entrepreneurs and very early stage startups an environment designed to help foster their growth and education. The program, which is now active in ten cities worldwide, holds two four-month long sessions annually in each location, which include mentorship sessions from experienced tech entrepreneurs. The program also has a unique structure that allocates some equity to each of the founders involved, so that they have an incentive to work together.
Mentors for the Boston outpost include Phil Libin, CEO, Evernote; Craig Kanarick, Cofounder of Razorfish; and Jordan Greenhall, Founder of DivX. The Founder Institute will join fellow startup incubator, TechStars, which opened a outpost in Boston last year. Y Combinator used to have a presence in the city but shifted to being in Silicon Valley year round last January.
Founder Institute is also offering any TechCrunch reader that applies by the early admissions deadline on May 23rd in Boston a chance to to win one WiFi 32 GB iPad. Click here to apply, and write “TechCrunch” in the field asking, “How did you hear about the Institute?”