ignite100 is essentially a private sector spin-out of the Difference Engine.
One of the key issues accelerator models have struggled with is what happens post programme. The additional funding allows teams to maintain momentum after the programme and create a runway to the next funding round.
Happy to take any questions here, or you can get me at jon at ignite100 dot com
I am humbled to think that we can compete with Paul and his investors (including their $150k). Seriously, we announced the deadline in mid November when we launched. PS if you know any YC applicants who would like to apply - send them my way.
I can assure you we are not a scam - I would hope that the inclusion of Cambridge University and NESTA would provide some credibility.
All of our investors are also included within the mentor list - but do not want to be specifically identified. Interesting our investors have much more to lose ($$$) than the mentors who are giving up their time.
All our mentors give up their time freely. We take a minimal stake to ensure sustainability - but the ultimate objective to help teams accelerate their businesses.
If you have any further questions, drop me a line at jon at springboard dot com.
For an example of the impact which the programme can have check out ScreenReach who took part in the Difference Engine a programme I have historically run.
To make the programme sustainable in the longer term, unfortunately it has been necessary to adopt a similar model to YC and TechStars. I am sure you agree that the provision of similar programmes should be encouraged.