GymPact, a first generation Start-Up Chile participant, has recently been selected as one of 13 startups who will participate in the 2012 session of TechStarts in Boston. Founded by Yifan Zhang and Geoff Oberhofer, the startup is a way to incentivize people to maintain their gym-going goals, penalizing and rewarding them monetarily if they succeed in their “pacts.”
As part of TechStars, the startup will receive a USD$100k convertible note along with associated services that amount to nearly another $100k.
The team behind TechStars comments that “we had so many great companies apply that it was unbelievably hard to pick just ten. So we decided to invest in thirteen.”
“We chose a diverse set of companies: from e-commerce to education, financial markets to transportation, consumer mobile to B2B enterprise SaaS. These companies will help you crunch big data, raise a venture capital fund, track your documents, publish a book, and buy music. They will make your kids smarter, make you better at sports, and yes, even make you happier,” they add.
Other startups chosen as part of the 2012 TechStars Boston class include: bisonalternatives.com, libboo.com, psykosoft.net, zagster.com, testive.com, simplygood.com, doctrackr.com, murfie.com, mortardata.com, ubersense.com, shopsy.com, and lessonsmith.com.