, focuses on nascent startups, so-called pre-seed companies, many of which are little more than a basic idea.
Where Precursor differs from the pack, in part, is by focusing on so-called pre-seed startups. These are companies that haven't yet shown that there's a market for their product. Indeed, they may not have even launched product yet; they may be little more than an idea. Precursor isn't necessarily in competition with the incubators. About 10 percent of the companies it's backed have been through one, either before or after Precursor invested, Hudson said.But Hudson has also found that the incubator model isn't a great fit for many entrepreneurs. Sometimes the timing isn't right, he said. Incubators tend to bring in batches of startups once or twice a year, and an aspiring founder may be wanting to start a business outside of that cycle.
Hudson's taking a different approach. Precursor invests in about 25 to 30 different startups annually.
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