Techstars

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Techstars, LLC
LLC
Founded Colorado, United States (2006, as Techstars, LLC.)
Headquarters Boulder, Colorado
Key people

David Cohen (CEO)
Brad Feld (Co-founder)

Jared Polis (Co-founder)
Website techstars.com

Techstars is an American seed accelerator, founded in Boulder, Colorado in 2006. As of 2017, the company had accepted over 1,000 companies into its programs with a combined market capitalization of $9.6B USD.[1]

History[edit]

Techstars was founded in Boulder, Colorado by David Cohen, Brad Feld, David Brown, and Jared Polis in 2006. The firm is an accelerator, investing between $6,000 and $18,000 on average in seed funding to tech startups and providing mentorship to entrepreneurs.[2] Less than 1% of applicants are accepted.[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 Airforce's new technology accelerator AFwerX.[15]

Structure[edit]

Startups 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.[16] In exchange for 6% common stock, each company accepted into Techstars receives $20,000; plus a $100,000 convertible note, access to the Techstars network for life, over $1M worth of perks,[clarification needed] and a three-month accelerator program,[17] which is conducted in three phases.[18]

Alumni companies[edit]

References[edit]

  1. ^ Choudhury, Saheli Roy (12 December 2017). "Japanese e-commerce firm to launch program for tech startups in Singapore". CNBC. Retrieved 29 June 2018. 
  2. ^ Rao, Leena (29 March 2011). "Startup Incubator TechStars Raises $8 Million". TechCrunch. Retrieved 29 June 2018. 
  3. ^ Chafkin, Max. Future Techstars, Step Forward. Inc.. April 2, 2012.
  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. ^ Popper, Ben. How the quiet Adam Rothenberg became number two at hot startup incubator Techstars NY. Venture Beat. March 12, 2012.
  17. ^ Fields, Jonathan. Uncertainty: Turning Fear and Doubt into Fuel for Brilliance. Portfolio Hardcover, 2011.
  18. ^ 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. 
  19. ^ Crook, Jordan (July 16, 2013). "TechStars-Backed Bookkeeping Service 10Sheet Relaunches As Bench With New $2M Seed Round". TechCrunch. 
  20. ^ Lardinois, Frederic (March 23, 2014). "Digital Ocean's Journey From TechStars Reject To Cloud-Hosting Darling". TechCrunch. 
  21. ^ Wauters, Robin (September 8, 2011). "TechStars Graduate FullContact Lands $1.5 Million, Helps Keep Contact Records Updated". TechCrunch. 
  22. ^ Cheredar, Tom. Graphicly shutters iOS & Android comic book apps to focus on self-publishing service. Venture Beat. April 5, 2012.
  23. ^ Vuong, Andy. Colorado startups becoming tech stars. The Denver Post. April 10, 2010.
  24. ^ Kincaid, Jason. Automattic Has Acquired IntenseDebate's Enhanced Comment System. TechCrunch. September 23, 2008.
  25. ^ Hendren, Olivia (21 October 2014). "Cincinnati's Lisnr joins top-ranked national accelerator". Cincinnati Business Courier. Retrieved 29 December 2016. 
  26. ^ "TechStars alum Mocavo grabs $4M to help you find your ancestors - VentureBeat - Deals - by Sean Ludwig". VentureBeat. 
  27. ^ "Mocavo Acquired By Findmypast: A New Chapter Begins". Mocavo Blog - News, Announcements & More from the World's Largest Free Genealogy Search Engine. 
  28. ^ Kyle Alspach (6 February 2012). "An unusual TechStar: Murfie seeks to build huge CD store". Boston Business Journal. 
  29. ^ Ruth, Joao-Pierre. Xconomis of the Week. Xconomy. April 12, 2012.
  30. ^ "Sphero". Crunchbase. 
  31. ^ . Orbotix Sphero is Rolling to an Apple Store Near You. Techcrunch. June 29, 2012.
  32. ^ Dizik, Alina. 6 Time-Management Tips from Accelerator Programs. Fast Company. March 14, 2012.
  33. ^ "America's Most Promising Social Entrepreneurs 2012". Bloomberg.com. 21 June 2012. 
  34. ^ Liam Boogar (February 25, 2013). "With 20,000+ users on board, Sketchfab raises a 370K€ Angel round for its YouTube of 3D". Rude Baguette. 
  35. ^ "Sketchfab raises $2m to scale its "YouTube for 3D files"". Balderton Capital. December 5, 2013. Archived from the original on March 12, 2014. 
  36. ^ Reisinger, Don. AOL Acquires Lifestreaming Service Socialthing. Mashable. August 14, 2008.
  37. ^ Moschen, Isabell (June 6, 2013). "The Two-Wheeled Amenity". New York Times. 
  38. ^ Schiller, Ben. "A Self-Contained Bike Share To Make College (Or Your Office Park) More Fun". Co.Exist. 

External links[edit]