Perhaps in the interests of total transparency on this, Bootup should come clean and reveal precisely how the so-called "Management Fee" is disbursed going forward?
$50K for 8 months is a lot of rent and accounting services.
If the Management Fee pays for the managers' salaries, like Danny and Boris Wertz, then they are not necessarily incentivized to have quality startups in each cohort... more important to Bootup in that circumstance is having enough startups to cover their overhead in each 8 month cycle.
Good luck.