Yet Another LA Incubator Opens: Io/LA

If the Los Angeles accelerator/incubator market is not yet crowded enough, Hollywood-based io/LA opened its doors over the weekend, looking to recruit a class of five to six companies in a three month mentorship program. The new incubator, which is run by Aber Whitcomb, the former CTO of MySpace, said it will run quarterly classes of startups, who will received $25,000 and office space, in exchange for 8 percent of their firms. Io/LA is an offshoot of an incubator in San Francisco. Io/LA joins a very long list of accelerators, incubators, coworking spaces, and the like to emerge in the region in the last year.