UM students' cloud-based note-taking system joins elite group of startups in accelerator program
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The smartphone app screen for the Fetchnotes note-taking system that's winning acclaim for five University of Michigan students.
Fetchnotes, a cloud-based note-taking system created by five University of Michigan undergraduates, was one of 13 startups from around the world to be accepted into the TechStars accelerator program in Boston.
The company, launched last year, has more than 19,000 users.
TechStars is a three-month entrepreneurial crash course. The companies are given $18,000 of seed funding in exchange for 6 percent of equity, and an optional $100,000 in venture funding after the program ends. The program and funding are backed by more than 75 venture capital firms and angel investors around the country. The average funding for the 126 companies that have been through the program is about $1.5 million, according to TechStar's website.
Fetchnotes will join companies from Israel, Slovenia and Colombia.
Fetchnotes users can call, text, email or type notes directly into their account with their phone, tablet or computer. Items can be categorized with hashtags, and users can attach files to notes and will soon be able to add to other users' lists.
"There's just too much stuff for people to keep track of mentally today," said Fetchnotes co-founder Alex Schiff in a statement. "They use sticky notes and apps and end up with hundreds of things to sift through.
"We want to help make sense of the overload, and help people share the important things with the people that matter."