It's open for business time at edtech's leading accelerator, Imagine K12. The program has just launched its application process for aspiring edtech entrepreneurs who will join the program that formally starts in September 2014. (You can get an application
There's no formal "deadline" for applying, unlike past years. Instead, Imagine K12 will accept applications on a rolling basis. That means the program will "immediately" start connecting, mentoring and working informally with new candidates sooner, says Geoff Ralston, cofounder and partner. Selected companies will only need to be geographically located in Palo Alto from September through December, however.
This year will also be the first period when Imagine K12 will accept up to 20 applications but run only one cohort for the 12 month period. Accepted companies will receive $20K immediately and a $80K convertible note when they finish the program. (Deets here.)
Since it started in 2011, Imagine K12 has launched 53 companies which have together raised about $75 million (thanks in part to a $15-million boost raised by Remind101 this
week). About 70% have received additional funding; more than 90% are still at work. Here's our roundup of the most recent bunch of 13.
Interesting observation by cofounder and partner, Tim Brady: A growing percentage of the applications are coming from non-US entrepreneurs. In the last cohort, four of the 13 companies came from overseas. Two of the founding teams included women.
Ralston and Brady say that having only one cohort a year will give them more time to support alumni companies. "We have a lot of confidence in the space," Ralston says.