July 21, 2008 -- (WEB HOST INDUSTRY REVIEW) -- Web hosting company pair Networks (pair.com) plans to help entrepreneurs turn their web-based ideas into successful businesses through its new pairIncubator (pairincubator.com), a program offering start-up resources and business expertise in exchange for company share.
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According to the announcement last week, the web technology incubator is located at the pair.com headquarters in Pittsburgh and will help participants set up their business, provide the use of hardware and workspace, provide business guidance, and help participants access venture capital.
In exchange, pair Networks requests a small part of each company, but no more than 10 percent. "Relinquishing this small percentage of your company could be the difference between getting your idea off of the ground and just dreaming about it," a company statement said.
Applications for the next incubation session will be closed August 10, 2008 and those chosen will be contacted August 18. Starting with this premiere program, the 12-week programs will be are to be run twice annually - one in spring and one in autumn. Far from a free ride, pairIncubator is designed to make entrepreneurs work, stipulating that they log at least 40 hours per week, preferably in the Pittsburgh location.
Long a staple of entrepreneurs, the idea of the incubator program was applied to software as a service in 2005 when OpSource (opsource.net) introduced its SaaS incubator.
