BOULDER, Colo. -- (BUSINESS WIRE) -- A group of media, marketing and technology veterans, including former Crispin Porter + Bogusky principal Alex Bogusky, today announced the launch of BOOMTOWN, a startup accelerator.
BOOMTOWN aims to discover and support promising Internet, mobile and software startups, primarily in the media, design, marketing and ad tech sectors that use technology or analytics to redefine media and the relationship between people and brands. Designed as a seed-stage tech accelerator, BOOMTOWN will nurture selected startups through a 12-week mentoring program and is currently accepting applications at http://www.boomtownboulder.com.
The accelerator will operate two 12-week sessions per year at its downtown Boulder location. Selected startups will receive $20,000 in seed money, more than $40,000 in services and support and an additional $700,000 in perks.
Atlanta-based investment firm Farmore Capital Group is BOOMTOWN’s lead investor.
“Boulder’s reputation as a startup capital is already well known and much of that success is due to a highly networked community of capital, mentors and thought leaders who speed the growth process,” said Toby Krout, BOOMTOWN co-founder. “We clearly have a unique opportunity to bring together marketing leaders and world-class technologists. But we won’t limit ourselves, and ultimately we will select and support startups based on the market opportunity and the dynamics of the teams."
In addition to Bogusky and Krout, BOOMTOWN’s founders are Stephen Groth and Jose Vieitez. Krout has been a part of six technology startups and is co-founder of Atomic20, a Boulder-based marketing firm that recently rebranded the State of Colorado. Vieitez is a serial entrepreneur and interface designer with experience at Google and other technology leaders. Krout and Vieitez will serve as BOOMTOWN’s co-directors.
Co-founder Stephen Groth founded Radiate Group, a large experiential marketing network, with holding company Omnicom. Radiate is widely considered to be one of the most successful accelerators in the experiential sector. Prior to that, Groth founded a broad-based entertainment company in Eastern Europe with Sir Bob Geldof, anchored by a network of successful music television channels (now part of MTV). Most recently, Groth co-founded and developed the accelerator and incubator Mahalo Spirits Group, which delivers business strategy, innovation, branding, distribution relationships and other resources to spirits startups.
“The old model of bloated, mega-agencies can no longer support itself — every day there are more layoffs in the advertising industry, but many of the people in this system are brilliant thinkers and technologists without a clear path to take their ideas forward,” said Bogusky. “BOOMTOWN is designed to be the on-ramp and support system for a select group of people and ideas that will invent a new media landscape.”