Austin Technology Incubator Recaps 3 Day Startup Successes as Sixth Event is Completed
FOR IMMEDIATE RELEASE
Austin Technology Incubator Recaps 3 Day Startup Successes as Sixth Event is Completed; Program Has Produced 12+ Companies, 2+ Million Funding, in 3 Years
Mid April Event Continued Tradition of Bringing Together Best New Entrepreneur Minds and Seasoned Business Executives to Create Companies in 60 Hours
Austin, TX, (PRWEB), May 4, 2011 – The Austin Technology Incubator (ATI), a unit of the IC2 Institute of The University of Texas at Austin (UT), in partnership with 3 Day Startup, recapped its recent success with the sixth 3 Day Startup (3DS) event at UT. 3DS was envisioned and created by UT students to bring together 40 aspiring entrepreneurs to collaborate, over 60 intense hours, and emerge with a few solid business ideas and beginnings of companies. The 320 3DS alumni from six UT events to date over the last three years have started ten technology companies - such as Famigo, Odoro, Moodfish and Hurricane Party - that have collectively raised over $3 million in financing.
It will be exciting to watch what comes from this latest 3DS, where 37 ideas brought to the table Friday night netted out to five companies presented Sunday night. Running April 15-17, the most recent 3DS drew a few dozen UT students from over 150 applicants and 15+ different majors. More notably, the caliber of business executives in the room, and through-out the 60 hours this round indicates the value of what’s going on with 3DS. These highly seasoned, proven business executives serve as volunteer mentors through the weekend (and usually beyond) and included Ethernet inventor, new UT professor Bob Metcalfe; acclaimed tech VC, and former journalist, Stewart Alsop; C-suite executives from Rackspace, Microsoft, uShip and Homeaway; University of Texas leaders; and directors of the Austin Technology Incubator, as well as other incubators like Capital Factory.
“Obviously, I’ve been completely enamored with what 3DS makes happen, getting behind the idea from inception to make sure ATI helped bring 3DS to life at UT Austin,” said Bart Bohn, ATI IT and Wireless director and founding mentor of 3DS. “All prior events have been beyond words. But this one; to see Bob Metcalfe, Ross Burhdorf and the other mentors in the room; for upwards to 20 hours each, just collaborating hands-on with the students and wanting to be so active in the company formation process….that blew me away. And proves we have created something very unique.”
3DS not only draws these high level individuals but is also supported by big named sponsors who believe in its value. 3DS thanks this round’s sponsors: DLA Piper, Hill Partners, Indeed, Maxwell Locke & Ritter (MLR), Microsoft, Rackspace, Volusion and Wortham Insurance. 3DS also thanks host Austin Technology Incubator and the support and encouragement of UT.
The next 3DS in Austin will be in November 2011, the seventh at UT. There has also been a 3DS US event in Alaska this past March, and 3DS will travel to San Antonio, North Carolina and Florida in the near future. The program has gone global with 3DS events already held in Spain, Germany, Holland and with additional countries on board.
About 3 Day Startup (3DS)
Nonprofit 3 Day Startup (3DS) was started in January of 2008 through the vision of several University of Texas (UT) students, and supported by founding mentor, Austin Technology Incubator (ATI) IT and Wireless Director, Bart Bohn. 3DS is a weekend-long, brainstorming and company-building event where UT students are inspired and learn about entrepreneurship in a deeply hands-on way. 3DS helps aspiring entrepreneurs turn their ideas into companies, gathering students from different disciplines - from computer science, MBA, engineering, design, law, film‐making, etc. - to guide them through the early stages of starting a technology company. Over one intense weekend, participants in 3DS events brainstorm ideas, conduct market validation, develop business models, build prototypes, create branding and pitch to investors and successful entrepreneurs. The result is an experience that inspires innovation by requiring participants to actually build and launch companies. The 400+ 3DS alumni from 10 global events over the last three years have started over a dozen technology companies, such as Famigo, Odoro, Moodfish and Hurricane Party that have collectively raised over $4 million in financing. For more on 3DS see: www.3daystartup.org
About The Austin Technology Incubator
The Austin Technology Incubator is a unit of the IC2Institute of The University of Texas at Austin that harnesses business, government and academic resources to provide strategic counsel, operational guidance and infrastructure support to its member companies to help them transition from early stage ventures to successful technology businesses. Since its founding in 1989, ATI has worked with over 200 companies, helping raise close to $750 million in investor capital. For more information, visit www.ati.utexas.edu.
Laura Beck for ATI