Open Source Venture Fund Unveiled

prostoalex writes "Over the next three years Simula Labs will finance 6-8 open source startups with $10-15 million it got from venture capitalists, News.com says. The venture financing enterprise is mostly interested in hiring the founders of the project and selling the services based around product infrastructure. LogicBlaze and Mergere are among the first startups who got financing from Simula Labs, and it looks like a logo that incorporates orange and brown is required before you apply."

Comments

interesting

[cyberfunk2]

An interesting way to fund Open source based buisness ideas... but the captial seems a little small spread out over that many ideas... will it run out before the ideas pan out ?

Re:Site Design & Structure

[jarich]

Doesn't that simply mean that the VCs are doing their job and providing needed services instead of letting each company go out and re-invent the wheel?

This is the sort of service that a ~good~ VC brings to the table... in addition to cash, they hook you up with their existing business connections. You get the benefit of the VCs experience and business contacts.

Wow

[rudy_wayne]

Both sites contain nothing but marketing double-speak and absolutely no useful ionformation about what they produce.

VC money meet toilet.

Re:Selections of hilarious dot-com e-business term

[Peter Cooper]

These "companies" almost seem like generic shells set up to suck money off of stupid VCs. Really. Don't they?

Identical sites (and logos)

[tod_miller]

Thier sites and logos were done at the same time by the same person, and reading them sites I have no idea what these companies do.

So I guess this is the start of another bubble. Hurrah.