HONOLULU, July 16, 2013 /PRNewswire/ -- Blue Startups, the Hawaii-based technology accelerator with an Asia and Pacific focus, is accepting applications for a second cohort of startup companies. Founded by Henk Rogers of Blue Planet Software (sole agent of Tetris®), Blue Startups provides investment capital and mentorship to startup companies in Hawaii.
"Blue Startups' first cohort has outperformed our expectations," said Rogers. The first eight companies that have gone through the Blue Startups program have collectively attracted more than $3 million in investment capital. According to program alumni, the mentorship and support received at Blue Startups was critical in moving their business to the next level.
"The mentorship was right on point and highly relevant to our company," said Dave Kosuki, chief executive officer of Tow Choice.
Blue Startups is recruiting capital-efficient and scalable-technology companies, including Internet, software, mobile, gaming and e-commerce. The program accepts up to ten companies for each cohort. The next application deadline is July 31, 2013.
Blue Startups is introducing an opportunity to the second cohort: "Henk's Wild Card." In addition to the regular program, entrepreneurs will be able to apply for the opportunity to develop Rogers' next business idea.
Blue Startups has a network of more than 50 mentors who assist in accelerating the startup companies in the program. Blue Startups has funding from the State of Hawaii, Hawaii Strategic Development Corporation and private investors.
"Our island state is earning the brand of 'Startup Paradise' as the word spreads about the globally competitive nature of our entrepreneurs," said Chenoa Farnsworth, Blue Startups managing director.
Each participating company receives an up-front investment of $20,000 and access to more than $500,000 in services. Workspace for each founding team (up to three people) is provided at Blue Startups Honolulu offices. In exchange for the capital and in-kind services provided, Blue Startups takes an equity stake in each company.
Blue Startups is a technology accelerator founded by Henk Rogers, founder of Blue Planet Software (sole agent of Tetris®). Blue Startups concentrates on helping scalable-technology companies including Internet, software, mobile, gaming and e-commerce compete on a global scale. Part of the Global Accelerator Network, Blue Startups aims to become a nexus of entrepreneurial activity in Hawaii, and between Asia and Continental U.S. For more information, visit: www.bluestartups.com.
SOURCE Blue Startups