Could something like TechStars work for novelists?

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I remember reading a while back about a Boulder-based technology startup incubator called TechStars.

It sounded like a decent idea: invite young technology entrepreneurs to apply for up to $15,000 in seed money, mentoring from other young technology entrepreneurs, and great networking connections to help insure their success… all in exchange for five percent of the new company’s initial equity.

There’re are some other perks, too. Fifteen grand isn’t a whole lot of money to ramp up a technology concern, so the group organizes an angel investor day, giving the young companies a chance to woo more money into the coffers. They also take care of incorporation details, provide free legal advice, and give coaching on numerous aspects of running a startup.Besides, how many genre writers get literary grants or fellowships? I’m guessing not many.

TechStars also assembled a great list of mentors. They might not be at the top of the A-List, but they’re all people who’ve done well for themselves when it comes to starting and running successful technology companies.

It’s also pretty tight company. TechStars accepts just ten fledgling companies into the program. I don’t know any numbers, but I figure they got several thousand applications for this year’s class.

As I read about this thing, I got to thinking: Could something like this work for novelists?

To my knowledge, nothing like this currently exists. All the models of which I’m aware involve writers paying out of their own pockets to mingle with other writers… whether it’s a retreat/boot camp, a workshop, a conference, or an MFA program.

Yes, I know there are various and sundry grant programs and fellowships out there, but those don’t necessarily provide winners with the benefit of working with—and learning from—other writers. The money’s nice, certainly. But the community and mentoring aspect is missing from the picture.It’d be in the best interests of both agents and publishers to pay for a literary version of TechStars.

Besides, how many genre writers get literary grants or fellowships? I’m guessing not many.

Getting back to my question, though, I think the answer is, “yes.” I believe the model TechStars uses lends itself really well to this thing of ours.

Join me as I map it out:

• Unpublished novelists—from any genre, with any level of experience—can apply.
• An advisory board picks a small number to attend. Ten to fifteen talented aspiring novelists sounds good.
• Each novelist gets a nominal amount of money, assuming they can use it to help make ends meet while they take time off work—say, two or three months—to write. To start, fifteen to twenty grand per writer sounds fair.
• Assemble the writers together in a well-appointed house for a quarter… wi-fi, laptops, food, and so on. Leave the pool table and other crap for MTV’s The Real World.
• Invite working, full time novelists to get involved as mentors. The program can offer classes on promotion, or querying agents, or craft, or learning the business side of the publishing industry from an author’s perspective. The pros can also give manuscript critiques.
• Invite literary agents to spend a day or two with the writers. This is dual purpose: agents teach the writers about working with agents and publishers; writers pitch agents on their books.
• Invite editors from publishing houses to talk about their expertise, as well as trends in the industry.
• Provide access to lawyers who work in the industry. It’d help the writers understand publishing contracts.
• Provide space for the writers to workshop and write.
• In exchange, the aspiring novelists give up the same five percent as the TechStars… except here it’d come from their advances once they sign a book deal. Establish three pools of money—one for the agents, one for the pro writers, and one for ongoing admin costs of the program. The split among the three then goes 40-40-20.

There are a few other little niggling details I’m certain I’m not considering. I know I haven’t figured out who foots the bill up front.

If I had to pick someone now, I’d say it’d be in the best interests of both agents and publishers to kick in the dough.

After all, they’d have front row seats and unfettered access to ten of the best and brightest unpublished writers each year. Agents would make the money back with the extra two percent, and publishers would, presumably, make it back after the books hit stores.

The other possibilities include one or more of the big booksellers. There’d certainly be some marketing benefit to their participation.

I think the plan—even if it’s almost completely stolen from someone else—could work and work well. But who’d go for it?

I’m all ears… any takers?

Tags: incubator, novelist