SEED SPOT 2012 RESULTS (YEAR ONE):

nies business model, financial model, how to generate revenue, how to raise capital, commercialization — the A to Z of what an entrepreneur needs,” Klein Johnson said. “We surround them with mentors and bring in content experts from (the) community.”

The incubator allowed Hart Shafer, 38, of Phoenix, to network with like-minded entrepreneurs in a productive environment.

Shafer, who founded TheraSpecs, the eyeware company that makes spectacles to alleviate migraines, said he designed the tinted shades as a way to help his wife, who suffered from chronic migraines for years.

“What I was looking for was advice, mentorship and contacts to help me figure out how to build the company around the product,” Shafer said.

Shafer had a background in physics and math, not business. But Seed Spot provided him with a network to call for advice, he said.

“It also provided a lot of the discipline to do some of the things that I knew I needed to do, like make sure I had a really good idea of what my financials were. ... I finally got all my accounting set up,” he said.

Fellow entrepreneur Francisco Cervera, 34, participated in the program with his brother Luis. The two San Diego natives run eMoney Pool.com, a microfinance provider that helps individuals access capital through “money pools.”

“Our vision is to turn it into a mass marketplace where we help underserved individuals get the capital they need,” Cervera said.

The concept of money pools stemmed from a cultural practice, he said.

“Imagine you want something but you have no credit so you can’t get a loan. ... People around the world do ‘money pools’ and help get money for each other in a creative way,” he said.

Seed Spot helped them learn more about how to run the business.

“My brother and I went to school for the sciences; we never went to get our business degree,” Cervera said. “We were lacking the

» 56 community partners. » 65 mentors and industry experts. » Three full-time staff members, two part-time staff members. » $250,000 budget. » 191 applicants, 56 ventures entered program. » 20 legal entities formed, 17 full-time jobs created and 24 part-time jobs created. » $815,000 raised by ventures. » $1.05 million generated by ventures. » Connected more than 500 community members through Venture Fridays, Startup Coffees and Free Lunch Fridays. » 606 attendees at the Seed Spot kickoff. » 660 attendees at Demo Day. » 43,329 unique website visitors. knowledge we needed to get from point A to point B. ... When we heard about Seed Spot we thought it was perfect, like a mini MBAprogram that will get us to where we need to go.”

Cervera said going through the program gave the brothers credibility with investors and provided them with tools they needed to grow their business.

“It helped us get more traction, (and we) ultimately got more funding after we graduated the program,” he said.

The success of Seed Spot has garnered attention from outside Arizona as well.

“We have been looked at for a model for expansion in other cities,” Klein Johnson said.

Fifteen cities expressed interest, she said.

This year, Seed Spot will accept 20 companies into the full-time program and 50 companies into the evening program.

Apply by filling out forms on the incubator’s website, seedspot.org.