Techstars

Techstars, LLC
Company typeLLC
FoundedColorado, United States (2006, as Techstars, LLC.)
Headquarters
Boulder, Colorado
Key people
Maëlle Gavet (CEO)
David Cohen (Co-founder, Chairman)
Brad Feld (Co-founder)
Jared Polis (Co-founder)
Websitetechstars.com

Techstars is a pre-seed investor that provides access to capital, mentorship, and other support for early-stage entrepreneurs. It was founded in 2006 in Boulder, Colorado. As of January 2024, the company had accepted over 4,100 companies into its accelerator programs with a combined market capitalization of $106bn USD.[1] Techstars operates accelerator programs in the Americas, Europe, the Middle East, Africa, Asia, and Oceania.[2]

History

Techstars was founded in Boulder, Colorado, by David Cohen, Brad Feld, David Brown, and Jared Polis in 2006. Initially, Techstars invested between $6,000 and $18,000 in early stage companies, providing entrepreneurs with mentorship during a three month accelerator program.[3]

The company held its first program in Boulder in 2007 with ten companies.[4] Of the ten, two were acquired that same year. As of 2012, three had achieved positive exits and two were generating millions in annual revenue.[5] In subsequent years, Techstars expanded to Boston, Seattle, New York City, a "cloud" program in San Antonio, and Austin.[6][7][8][9]

In January 2011, Techstars launched the Global Accelerator Network (GAN), which links 22 similar programs internationally.[10][11] The network was launched in conjunction with President Barack Obama's Startup America Partnership.[12] GAN is now an independently operated organization. Techstars has also supported the formation of Patriot Boot Camp.[13]

In 2017, Techstars partnered with the venture capital firm Partech Ventures to expand its program to Paris,[14] and in September of the same year was contracted to work with the United States Air Force's new technology accelerator AFwerX.[15] At the beginning of 2019 Techstars started another European program around smart cities in Amsterdam with their corporate partner Arcadis.[16] In 2021, Maëlle Gavet became CEO.[17]

In 2017 Techstars became the first US accelerator to build an office in the UAE. [18]

In 2022 Techstars expanded its work into Africa.[19]

In 2022, Techstars and J.P. Morgan raised $80 million to invest in over 400 companies through 2024; the fund focuses on POC entrepreneurs.[20]

Investment model

Techstars is a pre-seed investor that provides access to capital, one-on-one mentorship, a worldwide network and customized programming for early-stage entrepreneurs.[21] Startup companies can apply for Techstars' program and their viability is judged by the Managing Director of the program they applied to, as well as a screening committee composed of various members of the Techstars network.[22] In exchange for 6% common stock, each company accepted into Techstars currently receives $20,000 plus a $100,000 convertible note, access to the Techstars network for life, over $1M worth of perks (such as $25,000 to $100,000 in AWS credits), and a three-month accelerator program,[23] which is conducted in three phases: mentorship, growth, and investment.[24]

Notable alumni companies

References

  1. ^ "Techstars". www.techstars.com. Retrieved 2024-01-08.
  2. ^ https://www.techstars.com/accelerators
  3. ^ "What investments does Techstars make in its Accelerator portfolio companies?". Techstars.
  4. ^ Myers, Courtney Boyd. Techstars: the next great incubator unleashes 11 startups in NYC. The Next Web. April 16, 2011.
  5. ^ Bigelow, Bruce V. Lessons from Techstars’ David Cohen on Building a Startup Culture: 7 Takeaways from the Xconomy San Diego Dinner. Xconomy. February 3, 2012.
  6. ^ Results Results: Techstars.
  7. ^ Olanoff, Drew. The eleven companies relocated to San Antonio to join the first Techstars Cloud. The Next Web. April 11, 2012.
  8. ^ Thomas, Mike. Techstars Program to Jumpstart San Antonio’s Investment Community. The San Antonio Business Journal. April 4, 2012.
  9. ^ Dickinson, Boonsri. Microsoft Just Picked 11 Startups to Build Amazing Apps for Kinect. Business Insider. April 2, 2012.
  10. ^ "Getting up to speed". The Economist. 16 January 2014. Retrieved 29 June 2018.
  11. ^ Global Accelerator Network
  12. ^ Spencer, Malia. AlphaLab now part of Techstars Network. Pittsburgh Business Times. January 31, 2011.
  13. ^ Crichton, Danny (19 June 2018). "Patriot Boot Camp wants to turn soldiers into entrepreneurs". TechCrunch. Retrieved 29 June 2018.
  14. ^ Dillet, Romain. "Techstars launches a new program in Paris at the Partech Shaker". TechCrunch. Retrieved 2017-03-23.
  15. ^ "Air Force opens applications for dual-purpose technology accelerator p". U.S. Air Force. Retrieved 2017-09-22.
  16. ^ "The Technology Leaders of the City of 2030: Meet the Inaugural Class of Arcadis City of 2030 Accelerator, Powered by Techstars". 2019-03-04. Retrieved 2019-06-14.
  17. ^ Anne Stych (January 12, 2021). "Seed investor Techstars names Maëlle Gavet CEO". Biz Women. Retrieved September 8, 2023.
  18. ^ Pupic, Tamara (2018-04-15). "Off To A Good Start: Techstars Dubai". Entrepreneur. Retrieved 2023-09-28.
  19. ^ Africa, B. I. (2023-03-24). "ARM Labs Lagos Techstars Demo Day unveils the best and brightest of African startup tech". Business Insider Africa. Retrieved 2023-09-28.
  20. ^ Sraders, Anne (January 20, 2023). "Inside J.P. Morgan and techstars' joint push to get VC dollars to diverse founders". Fortune.
  21. ^ Mascarenhas, Natasha (2022-04-28). "Techstars debuts new fund for companies too early for its own accelerator". TechCrunch. Retrieved 2023-09-28.
  22. ^ Popper, Ben. How the quiet Adam Rothenberg became number two at hot startup incubator Techstars NY. Venture Beat. March 12, 2012.
  23. ^ Fields, Jonathan. Uncertainty: Turning Fear and Doubt into Fuel for Brilliance. Portfolio Hardcover, 2011.
  24. ^ Patterson, Irina; Arnold, Candice (March 7, 2011). "Business Incubator Series: An Interview With David Cohen, Founder And CEO, Startup Accelerator TechStars – Boulder, Colorado (Part 1)". Sramana Mitra.
  25. ^ Crook, Jordan (July 16, 2013). "TechStars-Backed Bookkeeping Service 10Sheet Relaunches As Bench With New $2M Seed Round". TechCrunch.
  26. ^ Lardinois, Frederic (March 23, 2014). "Digital Ocean's Journey From TechStars Reject To Cloud-Hosting Darling". TechCrunch.
  27. ^ Wauters, Robin (September 8, 2011). "TechStars Graduate FullContact Lands $1.5 Million, Helps Keep Contact Records Updated". TechCrunch.
  28. ^ Cheredar, Tom. Graphicly shutters iOS & Android comic book apps to focus on self-publishing service. Venture Beat. April 5, 2012.
  29. ^ Vuong, Andy. Colorado startups becoming tech stars. The Denver Post. April 10, 2010.
  30. ^ Kincaid, Jason. Automattic Has Acquired IntenseDebate's Enhanced Comment System. TechCrunch. September 23, 2008.
  31. ^ "TechStars alum Mocavo grabs $4M to help you find your ancestors - VentureBeat - Deals - by Sean Ludwig". VentureBeat.
  32. ^ "Mocavo Acquired By Findmypast: A New Chapter Begins". Mocavo Blog - News, Announcements & More from the World's Largest Free Genealogy Search Engine.
  33. ^ Kyle Alspach (6 February 2012). "An unusual TechStar: Murfie seeks to build huge CD store". Boston Business Journal.
  34. ^ Ruth, Joao-Pierre. Xconomis of the Week. Xconomy. April 12, 2012.
  35. ^ Orbotix Sphero is Rolling to an Apple Store Near You. Techcrunch. June 29, 2012.
  36. ^ "Rheaply Raises $2.5M to Strengthen Asset Management". Waste 360. March 23, 2020. Retrieved May 6, 2020.
  37. ^ Dizik, Alina. 6 Time-Management Tips from Accelerator Programs. Fast Company. March 14, 2012.
  38. ^ "America's Most Promising Social Entrepreneurs 2012". Bloomberg.com. 21 June 2012. Archived from the original on June 24, 2012.
  39. ^ Liam Boogar (February 25, 2013). "With 20,000+ users on board, Sketchfab raises a 370K€ Angel round for its YouTube of 3D". Rude Baguette.
  40. ^ "Sketchfab raises $2m to scale its "YouTube for 3D files"". Balderton Capital. December 5, 2013. Archived from the original on March 12, 2014.
  41. ^ Reisinger, Don. AOL Acquires Lifestreaming Service Socialthing. Mashable. August 14, 2008.
  42. ^ Moschen, Isabell (June 6, 2013). "The Two-Wheeled Amenity". New York Times.
  43. ^ Schiller, Ben. "A Self-Contained Bike Share To Make College (Or Your Office Park) More Fun". Co.Exist.
  44. ^ "Tech Los Angeles". 2021-07-14. Retrieved 2021-07-14.

External links