The resurgence of the New York technology entrepreneurship and start-up activity coincides with the 10th Anniversary of InSITE. The recent wave of innovation and the influx of talent from around the world serve to illustrate what InSITE has known since its inception – New York is the best city in the world to start a business. InSITE is proud to have been an integral part of this community for the past decade.
On Tuesday, April 13th, InSITE (Investments from Student Interaction with Technology and Entrepreneurs) is celebrating its 10th Anniversary, hosting its current Fellows and alumni.
With its first class graduating in 2000 and always comprised of MBA and JD students from Columbia and NYU Business and Law Schools, the program has grown significantly in size and scope over the past decade. InSITE Fellows are selected each academic year though a competitive application process, and only a fraction of those who apply are accepted based on their interests and demonstrated experiences in an entrepreneurial or venture oriented career. This year, the organization received more than 150 applications for 24 new Fellow positions.
Led by Chairman Paul Tumpowsky (CBS/InSITE ’00), each semester InSITE Fellows source a group of early stage New York startups for its advisory program. Over the past decade, teams of Fellows have worked with more than 100 New York startups to help them better articulate their businesses, refine their strategy and sharpen their value proposition. InSITE also hosts a variety of programs, including term sheet negotiations and a speaker series which has included prominent venture capitalists Alan Patricof and Fred Wilson, and supports New York Angels through their Future Angels initiative.
The program has been enormously successful for both the student Fellows and the companies that have completed the process. Since 2000, InSITE companies have raised more than $170 million in venture funding. Notable InSITE alumni companies include Vindigo, Broadview Networks, ON Networks, Hycrete, Recycle Bank, Hopstop, FlavorPill and Organic Motion.
InSITE Fellows have pursued careers in a variety of industries, including investment professionals at venture funds including Bessemer Venture Partners and DFJ Gotham, attorneys from in-house counsel at Amazon’s Lab126 to Wilson Sonsini and Skadden Arps, management consultants at McKinsey & Company, investment bankers and, of course, entrepreneurs.
Recently, Alex Ferrara (CBS/InSITE ’04) was promoted to Partner at Bessemer Venture Partners, and Andrew Moss (NYU JD/InSITE ’01) the Founder and CEO of BuyWithMe.com, raised a $5.5 million Series A Round from Matrix Partners.
InSITE Fellows, Alumni, its Board of Directors and invited guests will gather on the 13th to celebrate the organization’s successes over the past decade and elect the next group of student leaders to manage the organization though another successful year.
InSITE is sponsored by Wilson Sonsini Goodrich and Rosati, the preeminent law firm focused on early stage technology businesses, as well as a number of top venture capital firms: Canaan Partners, Contour Venture Partners, DFJ Gotham, Greenhill SAVP, Investor Growth Capital, Kodiak Venture Partners, Milestone Venture Partners, and RRE Ventures.
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