Jeff, Greg DC and I used to go to lunches and talk endlessly about our ideas…. So we decided to stop talking and do something!
SA has idea, people and money… so what is the problem? There is a mismatch…. Money is to far along finance continuum
SA needs more incubating…. VC hurdles are too onerous
Islabs is a mashup of google 20% project; y-combinator and Google Summer of Code (SoC)
Success stories of incubators
Success stories – what happens when you don’t incubate properly… gmail, FF, adwords and adsense all started in Google 20% Project…. And Drupal is often helped within Summer of Code (SoC)