RealTime IT News

Campsix Launches as Business Incubator for San Francisco

Campsix Inc. launched as an Internet incubator aimed at addressing the needs of Internet entrepreneurs in the San Francisco area.

The company said it will provide its portfolio companies with access to scarce, in-demand professional services and on-premise mentoring from a staff of 35 professionals in nine key areas of expertise including engineering, marketing, finance, recruiting, business development and legal counsel.

Campsix will also provide seed capital and office infrastructure as well as transition services to next round funding and new office space.

Located in a newly renovated 22,000 square foot space in San Francisco's South of Market (SOMA) district, campsix has already begun incubating its first company, College411.

"It takes more in today's market than money and a great idea for a startup to succeed," said campsix founder and chief executive officer, David Wamsley.

"Entrepreneurs have to execute at an accelerated rate without the services they require. Campsix will address these needs, by providing the space, mentoring support and professional services necessary for a start-up to thrive."

Wamsley, a veteran of three start-ups, most recently Adauction, where he is vice chairman, said that new companies waste a huge amount of time setting up office space, finding experienced people and gaining access to professional services such as law, advertising and engineering.

"Campsix is bridging the gap between angel investors and venture capitalists by delivering more advanced opportunities to the venture community while preparing start-ups to more quickly reach a significant liquidity event," said Aberdeen Group senior analyst Lara Abrams.

Since its inception 45 days ago, campsix has signed on its first "incubatee" College411, closed Series A financing and secured its initial portfolio investments: Red Ladder, Best Self and Get Connected.