DREAMIT VENTURES LAUNCHES ACCELERATOR PROGRAM IN AUSTIN, TEXAS' VIBRANT STARTUP COMMUNITY

DreamIt Managing Partner Kerry Rupp Returns to Austin to Launch DreamIt Austin

PHILADELPHIA, PA – July 20, 2012 – DreamIt Ventures (“DreamIt”) announced today that DreamIt Managing Partner Kerry Rupp will be returning to Austin and launching DreamIt Austin.  DreamIt Austin will kickoff in mid-December and run through March with the companies launching at SXSW.

DreamIt has launched 65 companies from its accelerators in Philadelphia and New York, and is scheduled to launch 45 more companies in the next 12 months.  DreamIt Companies include: Adaptly, Cloudmine, Mindsnacks, Notehall (acquired by Chegg), SCVNGR/LevelUp, SeatGeek, ShowMe, SnipSnap, and TakeThe Interview.  DreamIt is thrilled to bring this track record of success to the exciting startup scene in Austin.

“During the course of my career, I have been privileged to participate in some of the leading startup communities in the world, including New York, Silicon Valley, Seattle, Boston, Austin, and most recently Israel and Philadelphia,” said Rupp.  “A successful startup community must cluster a variety of elements including world-class entrepreneurs, capital, professional service providers, startup leaders and mentors, universities, and a nurturing community. 

“Austin has all these elements, with great companies like Dell, BazaarVoice, HomeAway; startups like MassRelevance and DreamIt 2011 companies Hoot.me and ThaTrunk,” Rupp continued. “It also has terrific investors like Austin Ventures, S3 Ventures and a strong network of angel investors including CTAN; world class service providers; great leaders like Josh Baer, Brett Hurt and Sam Decker; awesome support resources like Capital Factory; leading universities like UT; and community support like the Greater Austin Chamber of Commerce and SXSW.  We are excited to work with all these leaders to further galvanize Austin’s place as a startup hub.”

“DreamIt Austin will be additive to the efforts of others in different parts of the Lone Star State, like like TechStars’ commitment to San Antonio with TechStars Cloud,” added Steve Welch, DreamIt Founding Partner. “Texas is a big, beautiful State with a rich, pioneering history. ” Welch said.

Rupp previously lived in Austin, where she produced the first edition of the book “Crave Austin: An Urban Girls’ Manifesto” and co-published a travel guide for the region, “The Parisian Cowboy’s Guide to the Round Top Experience”, while running an online women’s travel startup she founded called Holiday Golightly.  She has 19 years of executive strategy and operations experience, much of it at startup companies including Jobster, MarketSpan and CourtLink (acquired by LexisNexis) and Automated Catalogue Services (acquired by Sterling Commerce). She also provides marketing and strategy consulting to senior executives at companies such as AllRecipes.com, LexisNexis, Payscale, and Taleo.  She previously served as Vice President of Business Development at Classmates.com, Managing Director & Vice President of Market Planning at LexisNexis, and Consultant at both McKinsey & Company and Andersen Consulting.   She holds a BA in Biology from Duke University and an MBA from Harvard Business School.

Michael Koetting, CEO of Austin-based DreamIt alumni company Hoot.me, is one advocate of DreamIt’s expansion. “We are a young team, so sometimes we need a more experienced group of advisors to help us overcome the challenges.  DreamIt has been that go-to team for us, which is why we are excited to see such a team of big time thinkers become big time Texans!”

Applications will open later this summer.  Entrepreneurs from all over the globe are invited to apply; they must, however, be in resident in Austin during the program. 

About DreamIt Ventures
DreamIt Ventures is a pre-seed stage accelerator, with the goal of helping great people with great ideas build great companies. DreamIt catapults startups forward.  DreamIt provides the aspiring entrepreneurs that it selects with pre-seed funding, services from leading law firms and accounting firms, mentoring from seasoned entrepreneurs, access to capital, and a creative, rigorous environment to bring innovative business ideas to market. DreamIt was founded in 2007 by three successful technology entrepreneurs who wanted to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs.  Since then DreamIt has launched 65 companies including SCVNGR, SeatGeek, Postling, Notehall (acquired by Chegg), CloudMine, Parsely, AppAddictive, TidalLabs, Let’s Gift It, Spling, LearnBop, Easel, ElectNext, MindSnacks, SupplyHog, Take The Interview, and Adaptly.  DreamIt accelerates companies in Philadelphia, New York City, and in a new Israel-based program.  More information about DreamIt Ventures is available online at www.DreamItVentures.com and via email at info@dreamitventures.com.


Media Contacts:

Kerry Rupp
DreamIt Ventures
512-739-5672
kerry@dreamitventures.com