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A new incubator program, Imagine K12, launched today in Palo Alto aimed specifically at building entrepreneurship in the education space. Founded by three Silicon Valley veterans - Tim Brady, Alan Louie, and Geoff Ralston - Imagine K12 will support early stage ed-tech startups through a funding and mentorship program.

Describing itself as "unabashedly inspired by Y Combinator," Imagine K12 will bring that YC model of business and technology development to education technology. The program was created in close consultation with YC's Paul Graham, who endorsed the efforts of the new incubator program on his blog today: "If you want to start a startup building things for schools, we encourage you to apply to Imagine K12, because frankly, we couldn't help you they way they can."