This latest TechCrunch post, "LaunchBox Unleashes Its First Nine Startups
" really got me thinking of whether we could do something like this in Hawaii.
Ever since I met Paul Graham back in 2004 when I presented at MIT's Spam Conference
(fast forward 21 minutes to see me make a presentation in record cold temperatures wearing so much clothing I looked as chunky as Santa Claus
) I followed his Y-Combinator
project very closely with great interest, always pondering its applicability to Hawaii.
A seed fund incubator basically is designed to give a couple of geeks a summer's worth of room & board money to belt out a beta version of a web company. In exchange, the incubator gets a small percentage of the company and the right to invest in future rounds.
This is something that just might work here. We could style the incubation process after the business plan competition (which also gives a sizable prize for the winner) and then perhaps as a community, agree to provide some of our expertise to help the startup succeed.
Is this something worth pursuing? I haven't spoken to Paul since '04 but I'm certain he'd at least return my email and perhaps give us some pointers of how to do something like that here in Hawaii (I thought about asking him to perhaps partner with us but he told me he really hates flying).
What do you all think?