News of a Fort Point-based incubator-meets-nightclub first surfaced in August, when Kayak Co-founder and CTO Paul English shared his plans for an "outrageous" workspace called Blade — one that would welcome in creative minds, ready to dance daily at 6 p.m. Three months later, and English's idea is coming to fruition, all with the help of nearly $20 million.
Funding for the Boston startup foundry was announced Wednesday. English told Bloomberg he plans to invest $2 million in 10 startups, as well as assist entrepreneurs with business planning, employee recruitment and product development. Companies coming through the door are expected to be young, and not quite prepared to make their first case for capital in front of the city's venture capitalists.
Per a previous Boston Globe interview:
At the incubator, [English] plans to serve as a matchmaker between CEO and CTO pairs, launching about three new companies a year. "We'll fund them for the first six months, hire the first ten people, help them raise money, and then kick them out," he says.
English told Bloomberg the idea is to get Boston startups off on the right foot, "and to make an obscene amount of money for investors."
Although English is not in the market for another travel-related business, English did say he is expecting to choose companies that are making consumer transactions easier. English's own travel site was bought by Priceline last November in a $1.8 billion cash-and-stock deal, meaning his expertise alone will be enough to attract fledgling startups.
Blade has already begun working with two unnamed startups, according to Bloomberg, and English plans to hold a seat on the participating companies' boards.
The remaining question, however: Will English's advice, post 6 p.m., come with an impressive set of dance moves?
