The Governor’s Workforce Development Board has awarded $366,000 to a Providence company that provides seed money to startups.

Betaspring LLC, founded last year, said it planned to utilize the two-year grant to expand the number of teams it works with annually from the current seven to between 10 and 12.

Each team consists of two to four entrepreneurs. Betaspring provides them with an average of $20,000 in seed funding and a 12-week “boot camp” program to help them navigate the process of starting a company and teaches good business practices. At the end, they are linked up with potential investors and Betaspring takes a small equity stake in the startups.

Full Story: Betaspring gets $366K grant from R.I. Source: Providence Business News, January 22nd, 2010 Author: PBN Staff Added on January 22nd, 2010 at 2:06 pm, by Matt Mikula