August 3rd update: According to CEO Sarah Prevette Sprouter will not be shutting down as scheduled. Prevetter is currently in discussions with a few of the potential parties that have come forward offering to keep the service going. Stay tuned.
On August 2nd Toronto's Sprouter will be closing its doors and shutting down. Community Manager Erin Bury announced the news this morning on their blog.
We’re devastated to have to shut down the service but unfortunately, due to capital constraints, we’ve simply run out of options.
It has been an incredible journey and we’re heartbroken not to be able to continue on.
While Sprouter demonstrated that there is great demand for their online entrepreneur community, it looks ike their business model doesn't justify keeping the lights on.
Hopefully their enthusiatic team that includes CEO Sarah Prevette is able to continue their hardwork supporting startups communities worldwide and specifically in Toronto where they have been hosting the best startup events for a long time. Prevette was a speaker earlier this month at Montreal's Startup Festival and presented Your First Startup.
Bury mentions in her blog post that they are exploring options for all of their content, including their regular publication Sprouter Weekly. Techvibes readers will recognize this content feature as we syndicate it as part of our Curacted Content series on occasion.