Austin, Texas has a technology startups incubator starting from today - The Next Web

http://thenextweb.com/2009/01/30/austin-texas-technology-startups-incubator-starting-today/

Following YCombinator of San Francisco-California, Techstars of Boulder-Colorado now Austin-Texas has a startup incubator called Capital Factory (from today).

The program is 10 week summer long and was founded by the local entrepreneurs like Joshua Baer, Sam Decker, Bryan Menell, Brian Beard, Jason Cohen, Pat Condon, Chris Sherman. These will select 10 finalists from a pool of applicants and from these will, eventually, pick three winners (this will be announced on April 13th).

What those three winning companies will get?
It seems they'll get a slightly better deal than either YCombinator or Techstars offers (at least financially): $20,000 in cash (in exchange of 5% of the company) and weekly mentoring sessions with a select group of proven, successful technology entrepreneurs (other perks are included)

The program runs from May 22nd to August 7th with August 14 being the Demo Day where the chosen companies will showcase their products.

YCombinator's success in funding early stage startups prompted others to replicate it around USA, Boulder-Colorado being one and now Austin, Texas.