Come for the Ride…

AlphaLab in Pittsburgh has now joined yCombinator and TechStars as a startup launch program. (We really need one of these in Atlanta!) AlphaLab’s deal is slightly better than TechStars since you receive $25,000 for only 3% equity in the company. TechStars takes 5% equity in your company for $15,000 and yCombinator gives you $15,000 for about 6% if you have 2 founders.

From a pure money standpoint AlphaLab has the best deal. Similar to the other programs, your startup will also receive services, advisers and office space in Pittsburgh, Pennsylvania. Having had a high school friend launch a successful web business from Pittsburgh, it does seem like the city is suitable for these kinds of incubators. However, the program does expect you to stay in Pitt past the six month build period - which isn’t very accommodating for startups who have already established themselves elsewhere. Overall, the location is probably the biggest drawback unless you’re a college student.

The deadline for the Summer/Fall program is March 31st. Program starts on June 2nd.

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