I shared a piece I read the other day that postulated that incubators and accelerators are “out” and that startup studios are “in.” But what, exactly, is a startup studio? Luckily, we have one of the most prominent startup studios — Pioneer Square Labs — right here in the Pacific Northwest. And as PSL is now five years old, GeekWire recently took the time to assess its impact.
The startup studio concept is not new; Idealab was one of the first to find success, more than two decades ago. But more and more are cropping up lately; the global total is near 600, according to Enhance Ventures.
They differ from accelerators, incubators, or standalone venture funds. The idea is to build multiple startups, getting involved at the ground floor and helping recruit a team to carry the company forward. Companies such as Snowflake, which had a record IPO last year, and Hims are among the studio success stories.
Whatever the case, launching 25 companies over a five year period is no small feat. Whether the market has been proven out or not.