I have been spending time on Quora answering questions around Dogpatch Labs, incubators, venture capital, etc. As I receive some questions frequently, I thought it would be worth while to re-purpose my answer for a couple selected topics. This is my second Quora answer post (see all here):
Are all companies in Pier 38 obligated to receive funding from Polaris Ventures if they become successful?
Short answer: No.
Longer answer: Dogpatch Labs is a 'no strings attached' workspace in that Polaris does not take equity in Dogpatch start ups, there is no right of first refusal, etc.
At Dogpatch, we put great effort into making sure that companies are exposed to a deep network of entrepreneurs, business partners, and angels / venture firms. We do this through ongoing networking events, demo / pitch days, etc.
Additionally, Dogpatch Labs entrepreneurs and companies represent a diverse mix of stage and focus. Some residents are mature, well-funded, revenue-producing companies. Others are concepts that have not-yet made it to market. ... and everything in between.
To put numbers to this:
In Dogpatch San Francisco alone, 30+ companies have received funding by a variety of investors (angels, 'super angels', venture firms, etc). Including Boston and NYC, it is a much larger number.
Across the three Dogpatch Labs collectively (SF, NYC and Boston), Polaris has participated in the funding of eight companies.
You can learn more about Dogpatch Labs here: http://dogpatchlabs.com/