Palo Alto, Calif. -- Veteran Silicon Valley entrepreneurs Tim Brady, Alan Louie and Geoff Ralston on Thursday announced the launch of Imagine K12, a Palo Alto-based incubator focused on developing high-tech firms in the K-12 education space. Created in consultation with Paul Graham of Silicon Valley's Y Combinator, the new incubator will provide up to $20,000 in backing, mentoring and advice, and also aid entrepreneurs in forging critical relationships with schools and platform providers. "We believe there is a perfect storm of factors making it the right time to launch our effort," said Louie. "The technology is ready, the infrastructure has been built, there now exists a whole generation of teachers who have grown up with this technology, and the financial downturn has everyone looking to technology as a means to do more with less." The incubator's inaugural three-month program will launch June 1, with applications available at the top link below.