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WirelessDevNet.com Press Release
Hatch Labs Launches New Model for Funding Entrepreneurship
Hatch Labs, a joint venture with IAC and Xtreme Labs, is accelerating investment in new startups. Today the company is announcing the launch of a new model for funding entrepreneurship with plans to launch several new businesses in 2012. Hatch Labs creates and delivers value by making existing mobile products work better and inventing solutions to emerging problems in mobility plaguing billions of wireless device users.
Starting today, Hatch Labs is seeking another round of Entrepreneurs in Residence who aim to transform mobility for consumers and businesses alike. These entrepreneurs will lead Hatch Labs’ new startups teams, building new ventures like Blu Trumpet and CrowdFail, which recently hatched out of the Lab.
Unlike other incubators, Hatch Labs distinguishes itself through its structure, incentives, and operating model. Hatch hires stellar talent and marries them to mobile business ideas with a six month runway for product development and market beta testing before providing additional capital.
“We’ve created a different operating model at Hatch Labs that allows us to stage gate our investment in talented entrepreneurs who want to invent new mobile products with real commercial value. Many driven entrepreneurs simply cannot afford to spend months bootstrapping their company without a steady income and benefits, so we alleviate that concern and channel their creative energy on breaking ground in mobility,” said Hatch Labs CEO Dinesh Moorjani.
With a flat operating culture built on collaboration and results-driven values, Hatch offers competitive compensation for entrepreneurs and engineers alike, while offering equity in Hatch Labs and the business they build. New Hatch ventures can also employ the IAC Network and strategic and distribution partners to reach millions of consumers and scale instantly. Furthermore, Hatch startups benefit from captive access to capital, if merited based upon lead performance metrics, which can materially save time for founders who are often distracted with fundraising fatigue. Accordingly, Hatch Labs has broadened the entrepreneurship paradigm for founders who want to better manage personal and execution risk yet capitalize on value creation.
In just ten months, Hatch Labs has received thousands of resumes from software engineers, designers, and entrepreneurs and has worked on five new products. The company continues to selectively consider candidates and businesses that align with its unique model.
“We’re not looking for quick flips,” added Moorjani. “We’re looking to build sustainable companies and our recruiting process reflects that rigor and outlook.”
Blu Trumpet was the first company launched by Hatch Labs in August. In just a few months since its launch, it has become a highly sought after platform by publishers and advertisers looking to monetize mobile apps and increase distribution. Blu Trumpet specializes in cost per action mobile advertising, and currently powers major IAC and other tier one publishers across 190 countries.
Hatch will also launch two new ventures this quarter with several concepts already in development for 2012. Entrepreneurs, engineers, designers, and developers may apply to Hatch Labs at info@hatchlabs.com.
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