(Photo by Flickr user Patrick Nouhailler, used under a Creative Commons license)
The Delaware Economic Development Office (DEDO) has struck a deal with Silicon Valley-based incubator One Million by One Million to virtually incubate 10 Delaware-based small businesses.
DEDO will pay for ten Delaware startups ($1,000 each) to participate in the online program, which provides the businesses with mentorship, and training in business plan evaluation and PR, and more.
Eligible businesses will be handpicked by a selection committee based on the business’s potential revenue and future job creation, as well as the size of the market it’s capitalizing on. Businesses operating on a digital platform will have the upper hand.
According to DEDO entrepreneurial director Ken Anderson, businesses that are determined to be “viable” at the end of the program will be personally introduced to Silicon Valley investors by the incubator’s founder, Sramana Mitra.
Which could very well mean those businesses will have to relocate.
“We hope the businesses will have some embedded interest in Delaware, but if they can’t get financing here and they are fundable, we can’t keep them here,” Anderson told the News Journal.
jiraffeThreads aims to alter the social media experience
Y Innovations is ready to show off its first natural house
University of Delaware joins accelerator hub for medical entrepreneurs
Pitch to speak at Comcast Labs Connect’s data security conference
Take a social media break by diving into this Delaware-made app
How a mix-up led this startup to a big growth spurt
Take a stroll down memory lane (on the Wilmington Riverfront)
Did Technical.ly help you find a job or progress on your career path?
Sign-up for daily news updates from Technical.ly Delaware