Startup Mentoring Program Expands To Start Third Class

Want mentoring to build your startup? Here is a New York City program that appears to creating a name for itself.

The program is run by the First Growth Venture Network and is accepting applications for a six-month session that will begin at the end of January. Two earlier waves of companies and entrepreneurs went through the mentoring over the past 16 months and can boast of benefits.

That’s in part because the program is drawing big name instructors from the world of venture, including Jeffrey Bussgang of Flybridge Capital Partners, Chris Moore of Redpoint Ventures and Satya Patel of Battery Ventures.

Edward Zimmerman, First Growth Venture Network co-founder and chair of the tech group at the law firm Lowenstein Sandler, said 10 of the 15 companies in the program’s first class raised money.

Another four or more from the second class of 10 closed on financing, he says.

The program’s goal is to help entrepreneurs build networks of contacts so that when problems arise, “they can pick up the phone and call a successful entrepreneur,” Zimmerman says.

The program expects to receive as many as 100 applicants and screen them for a third class of roughly 10 companies, judging the young businesses’ potential for rapid growth and the ability of their founders to be repeat entrepreneurs.

While it began favoring New York companies, FGVN has broadened beyond just the Big Apple. However it is still focused on startups working with digital media, ecommerce and online advertising.

If that is you, applications are free and so is the program. It might be worth checking out.