With double-digit unemployment and relatively few companies that seem to be growing, Rhode Island would be glad to see some of its young firms become breakout successes. A new company called Betaspring, founded by a team of local technology entrepreneurs, aims to do just that.

Betaspring is, formally, a micro-seed venture capital fund – meaning the firm will provide small loans, averaging $20,000, to early-stage startup companies. But its organizers say what is equally if not more important about Betaspring is its plan to offer young entrepreneurs an intensive, 12-week mentoring program to help them get their new business off the ground.