SeedStart 2010 Summer Program from NYC Seed

We first wrote about NYC Seed when they launched their seed funding program for NYC-based startups in late 2008. The group invested in five startups to-date.

Last week NYC Seed announced the launch of the SeedStart 2010 program. It seems very similar to the Y-Combinator and other similar programs. The program is described as, “NYC SeedStart is an 8-week summer program designed to provide seed funding for technology teams to build a product and launch their company. We will give up to 10 teams a small amount of funding, space, and mentorship in exchange for a small piece of equity in whatever they build.”

The selected startups receive $20,000 and give 5% equity to the NYC Seed group. Companies partnering in the program include: Contour Venture Partners, IA Ventures, NYC Seed, Polaris Venture Partners, RRE Ventures, Fish and Richardson, Manatt, Phelps and Phillips and SVB Financial Group.

Teams must have at least 2 people and no more than 4 people to apply. Applications for the SeedStart program are due by February 28, 2010.