Posts Tagged ‘term sheet’

Bootup Labs Fiasco

April 17, 2010

Harrowing tale that is unraveling as a result of Bootup Labs in Vancouver cutting 4 of the 7 companies that they initially said they would finance.

Bootup Labs Blog post – their explanation

Jamie Martin Blog post – one of the cut participants tale

Comments on Hacker News – forum comments

TechCrunch post – unbiased account with comments

I feel for the participants that were cut from the program and I feel for the management of Bootup Labs.  It is never easy running a company that is underfunded with cash flow dependent on successful past participants exit strategy or from investors.

The whole situation makes me feel a little sick on the inside.


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