Serial software entrepreneur Ken Kay has launched a new startup accelerator Ecelerator.
Based in New Jersey, Ecelerator will offer early-stage business-to-business focused software entrepreneurs a three-month residency program during which they will gain guidance from experts in the field, and make valuable connections with seasoned mentors, corporate executives, a network of technology and business contacts in the region, as well as angel investors, venture capitalists to secure financial backing.
The accelerator will provide each team with $6,000 per founder (up to three founders) and $7,000 per company.
In return, Ecelerator will receive an initial 6% equity interest in each company.
The accelerator is now accepting online applications (http://www.ecelerator.com) for the Spring 2012 session from any location worldwide (without guaranteeing a USA visa for international teams). The deadline for submissions is January 31, 2012. It accepts two or three entrepreneurs per team. At least one member of each team must be a software developer.