Boost's bitcoin-heavy incubator program gets underway

Boost VC's summer program is well underway, helping the 17 attending companies, seven of which are bitcoin-related, to transform their ideas into working businesses.

Located in the heart of Silicon Valley in San Francisco, Boost provides housing in downtown San Mateo, office space and mentors to the participants, as well as an investment of $10,000 to $15,000.

The 12-week program involves speaker sessions, mentoring and team building exercises with those taking part gaining legal advice and hours of in-office time.

According to Boost's website:

"We work as hard as you to take your company to the next level."

Boost accepts companies from all sectors and at various different stages in their development, but it is currently particularly interested in consumer tech, 3D printing and bitcoin.

Brayton Williams, co-founder of Boost, said: "We believe there are still many opportunities in bitcoin infrastructure, such as exchanges and payment processors, but we are also very excited about next generation companies, which I believe many of our investments fit in to."

He explained that, aside from the other perks, one of the main benefits the companies will enjoy is working alongside another six bitcoin-focused companies that "are all going down similar paths".

The founder of one of the companies taking part said: "Boost has aggregated a lot of talent focused on the problems we're trying to solve and provides access to a lot of opportunities."

Adam Draper, co-founder and CEO of Boost, said: "My life mission is to help people do what they love, it's not necessarily just bitcoin companies. However, bitcoin is the biggest innovation I have seen in the last 10 years, and we want to help propel it into being the global currency."

He said all of the companies involved in the latest program, which is in its fourth week, are currently "crushing it".

Once the bitcoin companies complete the program in early September, each will receive an additional $50,000 from the Boost Bitcoin Fund, which is backed by Lightspeed Venture Partners, Rothenberg Ventures, The Bitcoin Opportunity Fund and Beluga co-founder Ben Davenport.

What kind of bitcoin companies would you like to see come out of the Boost program? Let us know in the comments.