Re:Advice to Summer YC Applicants
by rms on Monday March 23, 2009 @01:40AM
(#528114)
Alphalab in Pittsburgh decides after Y Combinator. They generally seem very reputable. The main negative is they have a "stay in Pennsylvania" provision -- if you leave PA, you have to pay back the $25,000 and they keep their 3% equity. They have this because they are funded by the state of PA and the ultimate goal of the funding is to create jobs in Pennsylvania.
[ Parent
| on HN ]
Their FAQ at http://www.alphalab.org/faqs.aspx suggests you have to stay in Pittsburgh, which is smaller than Pennsylvania. Even the option to move to Philadelphia would make this more attractive.
On the other hand, their About page at http://www.alphalab.org/about.aspx says "As Innovation Works utilizes funds from the Commonwealth of Pennsylvania, each company receiving funding is expected to maintain a significant presence in Pennsylvania after the program." I guess you would have to ask them for a clearer response, but perhaps they would be OK with anywhere in PA.
I'm pretty sure you're allowed to move to Philadelphia.
Re:Advice to Summer YC Applicants
by falsestprophet on Monday March 23, 2009 @02:59PM
(#529011)
If the company is even minimally profitable, paying $25k for mobility may be a good trade.