Business Briefs

Aug. 23, 2013 @ 06:07 PM

New class announced for The Startup Factory

DURHAM – Six companies have been selected for the fourth session of Durham’s technology accelerator, The Startup Factory, which was founded to help speed the development of new technology businesses.

The session, formerly called Triangle Startup Factory, offers a three-month program for start-ups that includes mentorship, access to a network of startup leaders, angel investors and technology experts.

Companies that successfully complete the program receive a convertible note in an amount between $20,000 and $150,000.  

Chris Heivly, one of two partners behind the accelerator, said in a prepared statement that he and the two program operators remain positive about the quality and quantity of their applicants.        

“We received over 150 applications, an increase of 35 percent for entrance into the program from local, national and international teams,” Heivly said in the statement.

Local companies make Inc. magazine list

DURHAM – Several local businesses made Inc. magazine’s list of the 5,000 fastest-growing companies in the nation, including Durham’s ReverbNation, Bronto Software and Phydeaux.

ReverbNation, a provider of online marketing services for musicians, was ranked No. 345 in the magazine’s list of the fastest-growing private companies. Other Triangle companies in the top 500 were Morrisville-based Netsertive and Clinipace, and Pittsboro-based Talent Curve.

Other companies that made the complete list included Bronto Software, which announced that it was ranked No. 1,702 on the list. The company said that it has seen growth across three years of 228 percent, increasing revenues from $6.6 million in 2009 to $21.6 million in 2012.

Phydeaux, a pet supply retailer with a store in Chapel Hill, announced that it was ranked No. 2,572 on the list this year.

A complete list of the results of the Inc. 5000, including company profiles and an interactive database, can be found at www.inc.com/5000.