

Y Combinator competitor - DreamIt Ventures - myasmine
http://www.cheaprevolution.com/the_cheap_revolution/2008/07/announcing-the.html

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procyon
just looking at the numbers these guys give out $10,000 to 30,000 for 4%-8% of
the company. It is not a great deal of money but certainly most of the non-YC
companies seem to be giving out more money.

Assuming that quality of YC and non-YC programs is the same, I wonder how much
extra 10,000 going to make a difference.

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pg
They take their percentage out of your next funding round, instead of buying
the stock upfront and getting diluted when you do. I don't know if this was
deliberate or just a transcription error, but it ends up netting them
significantly more stock than the way YC does it: 50-100% more if your next
round is a typical VC round.

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Baltropreneur
The amount of awesome things the teams have accomplished prior to DreamIT
(from MTV to TechCrunch recognition to by another winning grant money to
winning an award via their Ivy League school(half come from Harvard)) seems to
be unique!

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philipcristiano
I'm pretty sure my friend just started working for one of the companies there.

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nr_anand
Do you know if your friend likes the workspace there?

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philipcristiano
I think he does, I just left a message for him asking if it was actually the
company. He is new to the whole start-up idea, he just found out people will
pay you to start a company.

If it is actually the place I will let you know.

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nr_anand
Great thnx...

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philipcristiano
He works for sleep.fm. From his limited description it sounds like they based
it off of Yc. It seems they try to get every company to help each other out,
so much that they all have a small stake in the other companies.

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myasmine
yes, that's right. all the teams get together all the time plus every week
they provide support to one team for a couple of hours - helping them with
whatever they need. in addition, dreamit hosts dinner events where they bring
in successful entrepreneurs and experts to talk about funding, pr, UI, etc.
it's been great so far - the founders are entrepreneurs themselves so they're
also a good sounding board

