Imagine K12, a Palo Alto, CA-based startup accelerator dedicated to educational technology, announced changes including a new fund and increased funding.
The Imagine K12 Start Fund will be supported by tech veterans including Y Combinator founder Paul Graham, Yahoo! co-founder David Filo, Angela Filo, LinkedIn CEO Jeff Weiner, Chegg CEO Dan Rosensweig, NewSchools Venture Fund, and GSV Asset Management.
Every company accepted to the accelerator program will receive up to $20k from Imagine K12, mentorship, and a convertible note for $80k from the Start Fund. The additional funds will give program companies more time to build their products and work with parents, teachers, and schools in order to get the traction necessary to raise seed and venture investment.
Launched in in early 2011 by Tim Brady, Alan Louie, and Geoff Ralston, Imagine K12 has funded 39 startups that have raised over $30m in outside venture capital. Notable graduates include ClassDojo, Hapara, Educreations, TapToLearn, Remind101, Bloomboard, NoRedInk, and LearnSprout.
The program, consisting of seminars, weekly dinners with tech and education luminaries, and weekly office hours with Imagine K12 founders, will begin in September in Palo Alto and run through December, ending in an investor Demo Day in early January 2014.
The application for the 2013 program is now open (apply here).