Saturday, February 17, 2007

A Different Kind of Incubator - The Hive

I recently met with The Hive a new incubator in Orange County. This company was started by Victoria Duff (who many of us know from back in the late 90s), Phillis Lane (who I have known for quite a few years) and Jon Bukosky.

What I really liked in my conversations with The Hive is that they are willing to work with and fund ventures that would never get VC dollars. They are quite happy with a business that will turn into a profitable $20M company and don't necessarily need an obvious exit strategy.

This is something I've always wondered about. There's many good companys that will never turn into a $100M VC kind of company. What can they do for funding, where can they go for help?

Hopefully this is a sign of a new kind of ecosystem where there will be the possiblity of creating good start-ups that are not a classic VC kind of play.

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