Aviel Ginzburg, a tech entrepreneur and investor, along with a group of fellow entrepreneurs, is launching Seattle Foundations, an invite-only organization and shared workspace that aims to support tech founders by providing them with a community of fellow entrepreneurs and experienced startup mentors. The organization plans to offer co-working space, access to events, and founder circles to facilitate transparent discussions about startup experiences. The founders have secured a 5,000 square-foot office space in Seattle’s Capitol Hill neighborhood and are raising funds to support operations and generate revenue from membership fees. A select group of founders will be accepted for a six-month membership to accelerate their startups and receive mentorship.
Seattle Foundations will not charge membership fees or take equity from participating startups but is open to the possibility of investing in the companies involved. Aviel Ginzburg is collaborating with Tyler Brown, Ryan Dao, and Art Litvinau, who previously started a group called Cloud Zero to host gatherings for founders. The organization is inspired by the impact of physical spaces that bring together entrepreneurs, investors, and mentors, as seen in Ginzburg’s experience with the Techstars Seattle accelerator.
The closure of programs like Techstars Seattle has created a gap in Seattle’s startup community, according to entrepreneur Matt Shobe. Other initiatives like Venture Out and physical spaces like Create33 and The Riveter have also shut down in recent years, leaving a need for a new organization like Seattle Foundations. The community that Seattle Foundations aims to build is crucial for entrepreneurs to share experiences and advice, especially for those facing the challenges of launching a startup.
Seattle Foundations plans to attract promising founders and experienced startup leaders to build a thriving community. The organization aims to have at least 100 active members and create rhythms of events and activities to bring people together regularly. Ginzburg hopes to raise $500,000 from investors to support the organization while also offering equity to those investors who become members. This collaboration could potentially lead to dividends or ownership stakes in participating companies.
Many believe that Ginzburg’s background and experience make him uniquely qualified to lead Seattle Foundations. With his history as a founder, investor, and former managing director of Techstars’ Amazon Alexa accelerator, Ginzburg has the necessary connections and community-building skills to make the organization successful. While Ginzburg acknowledges the challenges ahead and the possibility of failure, he is inspired by the impact that these types of communities have had on his career and is motivated to create a space that fosters innovation and collaboration for Seattle’s startup ecosystem.
