Startup launched by University of Michigan undergrads accepted to prestigious accelerator program

Posted on Mon, Aug 27, 2012 : 5:22 p.m.

Startup launched by University of Michigan undergrads accepted to prestigious accelerator program

By Ben Freed

As the University of Michigan continues to push entrepreneurship, Crain’s Detroit Business reports that Fetchnotes, a startup company founded by five undergraduates, was accepted to the TechStars accelerator program in Boston.

Logo from umich.edu

Fetchnotes was launched last year and already has more than 19,000 users. The students will join 19 other ventures including companies from Israel, Slovenia, and Colombia in a program that awards $18,000 in seed money in return for six percent of equity in the company. According to TechStar’s website, the average funding for companies that have completed the program is approximately $1.5 million.

The company’s goal is to allow students to warehouse all of their notes in one central location that has multiple entry points. According to Crain’s, Fetchnote users can call, text, email, or type notes into accounts using a variety of tools. The program can also facilitate note-sharing between multiple users.

Click here to read the full story on Crain’s Detroit Business.

A web video from Fetchnotes showcases their new cloud storage:

Ben Freed covers business for AnnArbor.com. Reach him at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2

Comments

Christopher LeClair

Tue, Aug 28, 2012 : 12:16 p.m.

There is always such great talent to be found in Ann Arbor and at the University!!

xmo

Tue, Aug 28, 2012 : 11:20 a.m.

The University of Michigan is suppose to be a leading University but these "undergraduates" had to go to Boston to get in an accelerator program and to get "Seed" money? WHY? Where was U of M, SPARK an the MEDC? "a startup company founded by five undergraduates, was accepted to the TechStars accelerator program in Boston."

GoNavy

Tue, Aug 28, 2012 : 12:47 a.m.

Let's call a spade a spade. What are these people doing? Are they bringing water to those who have none? Are they solving a problem lacking a solution? No. What is "Fetchnotes?" Well, we won't know because the author of this article didn't think it was important for us to know. However, I went to the site to see what it was (don't worry, I have a CS degree so "tech crap" isn't complicated to me). What did I find? Nothing. Nothing at all on the first page give you any hint of what goes on. It looks a little bit like Twitter, says that I'll "never have to pay," and wants my username. Explain to me one more time how this is a great idea? When I think of great ideas, I think of the cotton gin. I think of vulcanized rubber. I think of Google. Do I think of a way to organize my notes? Probably not, considering the myriad of solutions out there. Anyways, Fetchnotes probably won't mind my commentary. They're just waiting to be purchased by Facebook for $1.1B in stock for a product which produces zero revenue.

Halter

Tue, Aug 28, 2012 : 12:46 a.m.

I think this is great, and I congratulate them! I was all excited about this when I read about Fetchnotes back during the winter, and got it as soon as it was available on the iPhone... BUT, for the life of me, I have no idea what this is supposed to do that my existing notes and text don't already do -- I ended up deleting it since it seemed to have no purpose.