Startup Incubator Adds New Mentors, Calls for Companies to Join

Capital Factory is looking for Austin's most intriguing startup companies and is willing to put up $40,000 in cash and services for the best ones.

As a technology incubator, Capital Factory puts participating companies through a 10-week summer program that includes $20,000 in cash, mentorship by a group of startup veterans, and more than $20,000 in services, including IT infrastructure, office space, legal documents, recruiting, and public relations.

Last week, the group added 10 more mentors, bringing the total to 20. Among the newcomers are Yvonne Tocquigny, founder of Tocquigny; Michael Trafton, founder and CEO of Blue Fish Development Group; Mellie Price, founder and CEO of Front Gate Tickets; and Andrew Busey, currently the founder and CEO of Challenge Games, and co-founder of Pluck in 2003.

"We believe the mentorship is more important and unique than the capital, even though the money is what initially attracts people to the program," said Bryan Menell, who co-founded Capital Factory and runs the site AustinStartup.com. Menell's co-founders include BazaarVoice CMO Sam Decker and OtherInBox CEO Joshua Baer. The three also serve as managing directors of the incubator.

To be part of the program, startups must submit an application by March 27. The application and more details are available at the Capital Factory site.

"With the mentors locked down, now we're focused on getting the word out to startups that can apply for the program," Baer said. "We have received more than 20 applications so far and know of many more that are in the works. There are less than three weeks left to get your application in so start working on it today!"

The program culminates in a demo day, with companies presenting their services in front of angel investors, venture capitalists, and the media.