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ICD What's New

Introduction of U.S. startup accelerator TechStars
Kind: ICD What's New  Organization: Department of International Cooperation  Publish Date: 2019-12-31 09:15
Introduction of U.S. startup accelerator TechStars

TechStars is a seed accelerator founded in 2006 and headquartered in Boulder, Colorado. As of 2019, the company had accepted over 1,600 companies into its programs with a combined market capitalization of US$18.2 billion.

Initially, Techstars invested between US$6,000 and US$18,000 in early stage companies, providing entrepreneurs with mentorship during a three month accelerator program.

Following a period growth, startups can apply for Techstars' program. In exchange for 6% common stock, each company accepted into Techstars currently receives US$20,000 plus a US$100,000 convertible note and access to the Techstars network for life.

In January 2011, Techstars launched the Global Accelerator Network, which links 22 similar programs internationally. Techstars partnered with the venture capital firm Partech Ventures in 2017 to expand its program to Paris, and in September of the same year was contracted to work with the U.S. Airforce’s new technology accelerator AFwerX.

Sources: Markets Insider, Silicon Canals, Techstars website
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Update: 2019-06-17
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