440NG, the accelator created out of the joint venture between 88mph and L5 Labs announced via their Twitter feed that they’d picked their finalists.
Emails were sent out yesterday from the @440LTD platform. Check to see if you made it into the program. Thanks for everybody who applied.
— 440 (@440LTD) September 16, 2014
Now, there’s a ton of speculation as to WHO exactly got into the program – everyone seems to be ridiculously tight-lipped about the process but here’s what seems to be apparent:
- 10 startups have received offers to join 440NG’s first cohort. The names that keep coming up are Bambo Oyelaja’s prayer request service – PrayerBox, media analytics company – PlaySpread, e-commerce shopfront creator and Battlefield finalist 500 Shops as well as Battlefield winner PrepClass.
- we expect the terms to vary but what we’ve heard sounds pretty decent. Somewhere in the region of $25,000-30,000 for 30% of the company as well as office space in the swanky Moorhouse Sofitel, a personal allowance for founders and other costs covered by the incubator.
We’ll provide more information as it becomes available to us.