Summer Programs for Entrepreneurs in the Boston Area
One is run by Y Combinator in Cambridge. Unfortunately, the deadline for submissions was yesterday. They've helped launch companies like Reddit, Loopt, Justin.TV, and I'm In Like With You. YC invests $15,000 in a company with two team members, in return for usually about 6 percent of the equity in the company. "The goal is usually to give you enough money to build an impressive prototype or version 1, which you can then use to get further funding," they say.
The other is run by Highland Capital Partners in Lexington. It's called Summer@Highland, and applications are being accepted through April 22. Unlike Y Combinator, though, this one is open only to current graduate and undergrad students (as well as folks who graduated between December 2007 and the present.) But only one member of the team has to meet that criterion. Teams get office space either in Lexington or Menlo Park, CA.
And here's an important element: "...if a team goes on to raise venture capital within 180 days from the end of the program, then Highland [must] be provided the option to co-invest in up to 50% of the total financing round."
If you know of other summer programs in Boston/Mass./New England whose goal is to help entrepreneurs get companies off the ground, post 'em in the comments.