February 5, 2018

New Hartford program aims to give startups a leg up

HBJ PHOTO | John Stearns
HBJ PHOTO | John Stearns
Upward Hartford's Shana Schlossberg wants her new downtown space to be a place where startups mix with major companies.

A new program aimed at mentoring Hartford-area startups and raising money to build them into successful businesses is seeking applicants through Feb. 15.

The new initiative, Upstart, will offer 10 companies deferred payment on space and programming for five months at Upward Hartford, the coworking, networking and incubator space spanning two floors of the Stilts Building downtown. Each company will be eligible to receive two to three coworking seats at Upward Hartford for the duration of the program, which runs through June. Companies will get 24/7 access to the space and meet weekly with assigned experts and mentors.

Upstart is a performance-based program. If companies successfully raise capital, they pay back the cost of the program in cash or shares. If capital is not raised, the entire program will be free. Each space taken at Upward Hartford will be valued at $350 per month. The programming will be valued at $1,000 per month.

Eric Knight, founder and president of Remarkable Technologies Inc. in Farmington, and Shana Schlossberg, founder and CEO of Upward Hartford, developed the program. It focuses on two areas critical to the success of any early stage venture: pitching investors and marketing strategy, Knight said.

For more information on Upstart, visit its website.

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