StartFast is a program of Upstate Venture Connect, a nonprofit group formed in 2010 to encourage the development of more small, innovative companies in upstate New York.
Shomar will lead the StartFast accelerator program and broaden support for alumni founders, according to a StartFast news release. He will also focus on growing the StartFast Fund and exploring new avenues for expansion.
“I’m extremely excited to be joining StartFast. The program has built an impressive track record and is perfectly positioned for both entrepreneurs and investors to bridge the gap between the very early stages of a company and larger funding rounds.” Shomar said in the release.
“We’re delighted James has joined the team. He brings the right mix of entrepreneurial experience and passion for startup community building. StartFast is now positioned for the next phase of growth.” Nasir Ali, StartFast co-founder and managing director, said.
Shomar has more than five years of experience in launching and advising innovative technology companies. Most recently, he founded and served as CEO of Solstice Power, a high-tech company in the solar industry focused on combined heat and power concentrated solar systems. Shomar also worked as the entrepreneur in residence at Syracuse University’s Whitman School of Management. He holds a master’s degree in entrepreneurship and bachelor’s degree in mechanical engineering from Syracuse University.
The StartFast program is a 12-week bootcamp for startups, providing capital, virtual co-founders and staff, space, and introductions to mentors and angel investors as well as big-name venture funds.
StartFast’s managing directors have invested in and mentored more than 37 companies, enabling them to raise more than $100 million, according to its website. To date, four of these companies have produced exits.
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Photo credit: StartFast Venture Accelerator