Wednesday, August 8, 2012

Startup Looks Provide Capital To ASU Students, For Future Income

A new, Silicon Valley startup is hoping that Arizona State University graduates looking for startup capital might turn to the company, with a catch: it wants a portion of those students' future income for the next ten years. Upstart, a new startup started by ex-Google employees, and venture backed by Kleiner Perkins Caufield & Byers, NEA, Google Ventures, First Round Capital, Crunchfund, and Dallas Maverick's owner Mark Cuban, said that it is looking to help students raise risk capital, in exchange for those students providing a "small" portion of their income for the next 10 years to the company. ASU is one of a number of initial schools--which also include Dartmouth College, Rhode Island School of Design, the University of Washington, and the University of Michigan--where students are being approached with the service. More information »