Become an Entrepreneur–No Idea Required at new start-up foundry

See on Scoop.itYellow Boat Social Entrepreneurism

You get a salary, equity, mentors, and more. An inside look at how a San Francisco ‘foundry’ plans to build the next killer start-up.Want to start a company… but you’re short on ideas?

What is a foundry?

Chicago-based Sandbox Industries recently opened a new start-up foundry in San Francisco. Managing Director Millie Tadewaldt says unlike a traditional incubator that brings in early-stage start-ups already working on idea, Sandbox simply looks for talented people–often with no entrepreneurial experience. It gives them mentorship and capital and tasks them with identifying promising new start-up ideas through testing, market research, focus groups–whatever it takes to figure out which ideas have legs.

Its closest proxies, she says, are Santa Monica-based Science or New York-based Betaworks, although what makes Sandbox different is its venture capital arm. Projects are initially funded internally by the foundry, then when mature, the teams seek funding from outside VCs and angels, as well as from Sandbox’s venture funds.

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About rictandag @rictandag @LVHelpGro Returned U.S. Peace Corps Volunteer, Tandag, Surigao del Sur, Republic of the Philippines 1979-1980; Financial Management training Program [FMP], G.E., Appliance Park, Louisville, Kentucky 1981-1982 Champion [two days] Jeopardy 1986 Attorney, Los Angeles, CA 1989-1995 Disabiility Rights Attorney,, Las Vegas 1998-1999 Immigration Asylum Attorney, throughout the State of Kansas 1999-2001 Supply Logistics Specialist, UPS Las Vegas, 2006- present [business] advocate for: [Gawad Kalinga, tagalog for "to give care"]
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