We're rolling. (I'm the program director). Started out small this summer with 7 companies with plans to increase to a dozen in our next round.
Of course I'm biased, but I'm not sure I'd call us a rip-off. We make no bones about the fact that we are attempting to replicate a model that has been shown to be extremely successful in other cities.
Just out of curiosity, has the model been shown to be extremely successful in other cities? Is there evidence that anyone has succeeded with it to the degree that YC has? (My gut feeling is that it's a lot harder to replicate YC than the "model" makes it seem.)
Good luck anyway. The more opportunities for founders to create something valuable, instead of being stifled in corporate environments, the better.
I agree that it is incredibly hard and decidedly non-trivial to try to replicate the model.
I suppose it depends on what you define as success. For us success will hinge on the number of companies we launch in Providence. We know that many will fail, but our hope is that by launching 20 (or so) companies a year we'll be able to accelerate what is already a small but thriving startup scene.
One could argue that Techstars has been invaluable in placing Boulder on the startup map. And I think we're just starting to see the same thing come out of Bootup Labs in Vancouver.
Success (for us) is just as much tied to our love of Providence as it is to decent returns for our investors.
