Studio 9+: A New Kind of Incubator

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Nov. 15 (Bloomberg) -- Studio 9+ Founder, CEO and Chief Mentor Peter Relan discusses entreprenuerial incubators and mentoring startups with Mark Crumpton on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Different from other incubators?

Is it just a matter of more time spent building the product and the company?

The more time spent building the product and company is actually the output.

The input that goes into it is different from the traditional three-month programs.

You can think of it as -- you talk about seed funding and you can take a lot of seeds and germinates them.

And a lot of the debaters do a fantastic job of germinating seeds for three months.

We take an approach that is a little longer, nurturing the plant as well.

That is the difference.

Tell us a bit about the program.

What are the three phases you put entrepreneurs through?

Like every incubator, we start with three months in which the entrepreneurs are expected to create.

They can build products.

They are expected to create their minimal, viable product, m.v.p. is the term.

As i said, it is fantastic to encourage entrepreneurs to come into these programs from all over the world.

What we do after that is a second stage and the third stage.

The second stage is what we call product market fit, in which the entrepreneur gets to actually launch their market -- their product into the market and see the reaction of users.

Where's the funding from studio nine + coming from?

We offer each entrepreneur 18 -- a team at $110,000. the programs are typically three months at $60,000 to $90,000. technology inflections for the last five years have matured and you need a little more staying power, little more depth to your product to make it eight.

What kind of startups are you looking for?

We are interested in anything that has the potential to disrupt and inflect.

We love the idea as -- of wearables as an upcoming inflection.

We love the data.

The amount of data being produced by mobile apps, mobile web, and wearable things, we believe, is giant.

And we are very interested in consumer services on mobile, which is of the likes of p2p sharing.

The first-class in fall, 2013 is underway.

Tell us about it.

We have been growing the incubator program for six years.

We have people from the previous incubator program exit and make a lot of money and still come back.

One of them is hammer and chisel.

Now a second time entrepreneur.

He still loves the answer -- the mentorship and the depth.

And we have a couple of phd's from computer science in iowa who participated in a three- month accelerator type program and did not feel it was enough.

They are doing a mobile tutoring marketplace.

Even people who like to do three-month programs often come after that to do a longer program.

Peter relan, joining us from

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change