Spark Capital Fires Up Start-Ups With Seed Money

Although many options for starting new companies have evaporated along with financial markets and market caps, Spark's blog said this might be the best time in nearly a decade to start up a company: "While capital is scarce, the tectonic plates continue to shift, creating major rifts. The walls are coming down and the barriers to entering new markets are falling alongside."

Through the program, entrepreneurs who are starting businesses that intertwine media, technology and entertainment can obtain investments of up to $250,000. Applications are available at Spark's Web site. Selected applicants receive access to Spark's partner network and legal counsel, and will be prepared for a second, more formal round of funding at a later stage, depending on their progress.

The program has two objectives: One, to seed money to launch cutting-edge technology companies, and two, to encourage that type of business innovation in the New York and Boston areas. Spark has a track record of backing new media startups, such as AdMeld, OneRiot and Tumblr. Although the company does invest in all stages of a company's life cycle, it does prefer early stage companies so it can have the greatest impact on the foundation level.