NYC Seed - funding tech companies in NYC

Sparse site, but interesting. Questions from their PDF application:<p>* What’s the idea?<p>* Why now?<p>* Who are your competitors?<p>* How will you make money?<p>* How will you use the funding?<p>* Please describe your product development roadmap. How long will it take to complete your first version?<p>* Please provide bios for each founder.<p>* Please provide 3 references for each founder.

&#62;No idea is too early for consideration for NYC Seed.<p>&#62;We will ask to review a prototype of your product.<p>Bit of a contradiction.

Doesn't say who runs it. If it's run by the gov't it'll probably be incredibly risk averse and not invest in anything particularly innovative.

Bloomberg's speech: <a href="http://mashable.com/2008/06/02/nycseed/" rel="nofollow">http://mashable.com/2008/06/02/nycseed/</a>

Doesn't seem to say anywhere how much they invest. How are you supposed to know if you want to apply?

Be careful.That's all i will say.