GazelleLab, an Irvine-based technology incubator, may not be around for much longer, at least in its current form.
The group is meeting with investors to determine the path of the company, according to Luis Villalobos, one the founders of the nine-month-old incubator and also a member of the Tech Coast Angels venture group. Earlier this month, GazelleLab laid off a newly hired human resources executive.
Once-hot incubators have been in trouble lately, with CMGI Inc. and Internet Capital Group Inc. both being hit hard by Wall Street’s wary attitude toward technology start-ups.
In an earlier interview, Villalobos said he has been trying to set GazelleLab apart from other incubators by focusing on just a handful of companies. GazelleLab has worked with three companies so far.
The company had planned to move into a 16,000-square-foot facility at the University Research Park next to the University of California, Irvine. n
