Capital Factory Announces Investments

Capital Factory, an early stage technology incubator in Austin, Texas, announced investments in five emerging technology startups selected to participate in its inaugural 2009 summer program. Each company will receive a cash investment of up to $20,000, more than $20,000 in free services, and mentorship from some of the top entrepreneurs in central Texas. The free services include office space, legal counsel from Wilson Sonsini Goodrich & Rosatti, public relations support from Porter Novelli, and accounting support from The Accounting Group and vcfo, among many other benefits.

Investments:

• Cubit Planning - Environmental reports at the click of a button
• Famigo - Mobile games that bring the family together
• Homstie - Person-to-person marketplace for storage space
• Hourville - A marketplace for services by the hour
• PetzMD - Website for Pet Health, from A to Z

The five startups were selected from a list of more than 250 applicants and five additional companies were recognized as finalists. Applications were submitted from all over the country although more were from Texas than any other state. Four of the five startups were already located in Austin and one, Homstie, will be relocating from California this summer.

The Capital Factory is a great program designed to help inspire and cultivate the entrepreneurial spirit. It is the success of entrepreneurs that will bring about the needed changes to the global economic woes. We need to put more focus on grassroots stimulus programs and encourage those who have the desire to create the future.

Have A Great Day

thom