Think you can form a technology company from scratch in just a week? That’s the idea behind SPARK, a new incubator program launched by a group of Chicago-area entrepreneurs.
The program is aimed at seeding viable ideas for Web-based and mobile applications during an upcoming startup competition that runs from July 22 to 27 in the Windy City.
“SPARK is about doing, not talking,” said 29-year-old Maliha Mustafa, a former investment banker turned entrepreneur and SPARK co-founder. “What we’d like to do is actually execute.”
Toward that end, Mustafa and her fellow co-founders, including Seth Kravitz – who started a Web design company from his dorm room at Ohio State that later grew into a 55-person operation – are winnowing down contest applications to 60 participants.
During the six-day competition, the chosen candidates will form teams, decide on business models, build working prototypes and present their elevator pitches in front of angel investors and venture capitalists.