The mentorship-driven accelerator program based in Denver, Colorado connects entrepreneurs, conservationists, corporate partners, and investors to deliver products that can put the world on a path to sustainability. In addition, conservationists will learn from entrepreneurs how to quickly innovate and scale commercially viable businesses.
Worth of Award
- Techstars provides Accelerator portfolio companies with access to financial, human and intellectual capital to fuel the success of their business.
- Upon acceptance to a Techstars Accelerator, every company is offered a $100,000 convertible note.
- Techstars contributes $20,000, which is commonly used as a stipend to support living expenses during the program, and in return receives 6% equity of the company (on a fully diluted basis, issued as common stock) until the company raises a priced equity financing of US $250,000 or more (a “Qualified Financing”).
- They fund technology-oriented companies, typically web-based or other software companies, but they’ve funded companies that don’t quite fit that mold as well.
- They’re also looking for companies that can have national or worldwide reach. Specifically, they don’t fund biotechnology companies, restaurants, consultancies, or other local service-oriented companies.
- Anyone from anywhere can apply, and they’ve funded many non-US companies in the past.
- You do have to be legally in the U.S. during the program, of course. Once accepted, they can help with legal/immigration issues by leveraging our contacts and network to help. However, they cannot help with them in advance of acceptance to Techstars.
How to Apply
- They currently run 47 mentorship-driven accelerators in over 15 countries.
- If the accelerator of your choice doesn’t have applications open, they encourage you to complete the General Interest form and they will let you know when applications open.
- This will also give you the opportunity to participate in Office Hours – a one-on-one session with a Techstars team member.
- Applications typically open four times a year for 12-weeks. Multiple applications do not increase your chances of acceptance, so pick the program that is the best fit for you.
- During the application period, they may reach out to invite you to office hours or hope to meet you on the road at one of their Meet & Greet events.
- After applications close, they’ll review applications for about seven weeks, and spend time getting to know even more about your team, market, progress and idea.
- Their goal is to notify the final group of companies being accepted within eight weeks from the application closing date.
Deadline: applications close May 12, 2021.