Startup incubator AngelPad has announced an offer of $100,000 for each AngelPad startup, courtesy of two venture capital firms. The money is an option, and AngelPad startups can still stick with the incubator’s standard $20,000 investment. AngelPad’s Thomas Korte told TechCrunch that “the money mixed with our advice and network really helped. Companies that have some money just build things faster.” The companies must take the full $100,000 if they want the investment.
AngelPad has declined to reveal the names of the contributing VC firms. The company takes up to 30 startups in their classes per year.