This post may only be interesting to the few die-hard believers in business incubators. During the bubble, everyone wanted to jump in and start an incubator. But most failed, and failed quickly. So here I am in 2006 running an internet business incubator. Our plan is to use our small staff to test different ideas, see what sticks, and then to invest seed capital (from $20,000-250,000) in the ideas that seem to be the most promising.
Last week, Provo Labs held its first mixer for its portfolio companies. We are hoping to develop a culture of knowledge acquisition and sharing, a culture of networking, a culture of innovation. We gave out free copies of Tim Sanders' excellent book, "Love is the Killer App" and we also talked about John Hagel's new book "The Only Sustainable Edge" that in some ways may become the bible of Provo Labs. His earlier book "Net.gain" which discussed the power of online communities influenced my strategic thinking at Ancestry.com more than any other book.