If you own a startup and haven’t heard of Techstars, now is the time to get acquainted with the impressive tech business accelerator. Founded in 2006 right here in Boulder, Techstars invests in new tech-oriented or web-based businesses. If your company is in need of a major boost, they have the ability and resources to help.
Techstars has 3-month programs that can help startups get off the ground and running. The annual programs are available in several different cities known for their entrepreneurial spirit, including Boulder. While hundreds apply, only about 10 companies are selected per city. Techstars generally only accepts web or app-based applicants with the potential of having a national or global reach. Throughout the program, Techstars funds and mentors selected businesses with investment money and valuable advice from industry insiders. At the end of 3 months, businesses have the opportunity to pitch their tech product or services to investors and venture capitalists.
During the program, accepted businesses can move in to a Techstar office and utilize their space while working side-by-side with their professional mentors. It’s an intensive, full-time mentorship program for businesses that are serious about accelerating their growth and meeting their full potential.
Beyond their network capacity and professional advising, Techstars also has financial resources to offer selected applicants. In addition to the $18,000 in seed funding given at the beginning of the program, accepted businesses are also offered a $100,000 convertible bond (CV), which can be used for future stock options. The financial support, plus the professional guidance, gives startups the foundation to help them thrive.
Techstars alumni have an impressive success record. They tend to average over $1.5 million in outside capital once they finish the program. Alumni continue to have access to Techstars network of investors and can in return help future program candidates. The Boulder office boasts 89 accomplished alumni, including Notion, Kapta, Lassy Project, Augur, PivotDesk, Rapt Media, and Scriptpad.
The Boulder office is led by Managing Director Nicole Glaros. She’s been with Techstars since 2009 and has run 8 mentorship programs. Her extensive resumé includes a MA in Sport Psychology from the University of Florida. She’s also a board member of Application Developer’s Alliance, Entrepreneur’s Foundation of Colorado, The Global Accelerator Network, and CU’s Venture Fund. Glaros’ knowledge and expertise will no doubt help future Techstars candidates accelerate their own startups.
The Boulder team is currently accepting applications for their upcoming program. For more information about the program and application requirements, visit Techstars’ Boulder page here. The deadline is March 15 so hurry and apply before it’s too late!