Durham business accelerator Groundwork Labs plans to school student entrepreneurs from five North Carolina universities this summer.
Groundwork, which is backed by nonprofit NC IDEA and WRAL-TV owner Capitol Broadcasting, announced Monday that it would provide free mentoring and other services, plus free office space, for the student entrepreneurs this summer.
Each of the participating universities -- Duke, N.C. Central, N.C. State, UNC-Chapel Hill and Wake Forest -- will select a team from the business plan competitions they conduct to participate in the program, dubbed "Underground Summer."
"Underground Summer is a bridge from the excellent program that the universities have established," John Austin, director of Groundwork, said in a statement. "This experience will enable the students to experience the broader entrepreneurial community in the Triangle."
Unlike typical business accelerators, Groundwork doesn't provide start-up funding in exchange for an ownership stake in a company. Instead, it help technology startups gear up to raise funds elsewhere or to "bootstrap" their venture without outside funding.