Y Combinator competitor - DreamIt Ventures | Hacker News Reader

Y Combinator competitor - DreamIt Ventures

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12 pointsmyasmine11 comments

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.

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.

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!

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

Do you know if your friend likes the workspace there?

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.

Great thnx...

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.

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

sleep.fm?

Hopefully those guys have something amazing up their sleeves.

the workspace is different. we work in the third floor of the science center and the workspaces are a cross between cubicles and dressing rooms (provides some privacy). we also have access to private conference rooms if needed. we get everything we need (copier, printer, etc.) except everyone needs to bring in their laptop/desktop

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