Techstars

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.{{cite web|url=http://www.techstars.com/faq/|title=What investments does Techstars make in its Accelerator portfolio companies?|publisher=Techstars}}

The company held its first program in Boulder in 2007 with ten companies.Myers, Courtney Boyd. [https://thenextweb.com/entrepreneur/2011/04/16/techstars-the-next-great-startup-incubator-unleashes-11-startups-in-nyc/ Techstars: the next great incubator unleashes 11 startups in NYC]. The Next Web. April 16, 2011. 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.Bigelow, Bruce V. [http://www.xconomy.com/san-diego/2012/02/03/techstars-david-cohen-on-reviving-san-diegos-startup-culture/2/ Lessons from Techstars’ David Cohen on Building a Startup Culture: 7 Takeaways from the Xconomy San Diego Dinner]. Xconomy. February 3, 2012. In subsequent years, Techstars expanded to Boston, Seattle, New York City, a "cloud" program in San Antonio, and Austin.[http://www.techstars.com/companies/results/?exclude_companies=unchecked Results] Results: Techstars.Olanoff, Drew. [https://thenextweb.com/insider/2012/04/11/these-eleven-companies-relocated-to-san-antonio-to-join-the-first-techstars-cloud/ The eleven companies relocated to San Antonio to join the first Techstars Cloud]. The Next Web. April 11, 2012.Thomas, Mike. [http://www.bizjournals.com/sanantonio/blog/2012/04/techstars-program-to-jumpstart-san.html?page=all Techstars Program to Jumpstart San Antonio’s Investment Community]. The San Antonio Business Journal. April 4, 2012.Dickinson, Boonsri. [http://www.businessinsider.com/kinect-11-startups-are-part-of-2012-4 Microsoft Just Picked 11 Startups to Build Amazing Apps for Kinect]. Business Insider. April 2, 2012.

In January 2011, Techstars launched the Global Accelerator Network (GAN), which links 22 similar programs internationally.{{cite web |url=https://www.economist.com/special-report/2014/01/16/getting-up-to-speed|title=Getting up to speed|date=16 January 2014|publisher=The Economist|access-date=29 June 2018}}[https://www.gan.co/ Global Accelerator Network] The network was launched in conjunction with President Barack Obama's Startup America Partnership.Spencer, Malia. [http://www.bizjournals.com/pittsburgh/news/2011/01/31/alphalab-now-part-of-techstars-network.html AlphaLab now part of Techstars Network]. Pittsburgh Business Times. January 31, 2011. GAN is now an independently operated organization. Techstars has also supported the formation of Patriot Boot Camp.{{Cite news|url=https://techcrunch.com/2018/06/19/patriot-boot-camp-wants-to-turn-soldiers-into-entrepreneurs/|title=Patriot Boot Camp wants to turn soldiers into entrepreneurs|last=Crichton|first=Danny|date=19 June 2018|publisher=TechCrunch|access-date=29 June 2018}}

In 2017, Techstars partnered with the venture capital firm Partech Ventures to expand its program to Paris,{{Cite web|url=https://techcrunch.com/2017/03/20/techstars-launches-a-new-program-in-paris-at-the-partech-shaker/|title=Techstars launches a new program in Paris at the Partech Shaker|last=Dillet|first=Romain|website=TechCrunch|date=20 March 2017 |access-date=2017-03-23}} and in September of the same year was contracted to work with the United States Air Force's new technology accelerator "AFwerX".{{Cite news|url=https://www.af.mil/News/Article-Display/Article/1313455/air-force-opens-applications-for-dual-purpose-technology-accelerator-program/|title=Air Force opens applications for dual-purpose technology accelerator p|work=U.S. Air Force|access-date=2017-09-22|language=en-US}} At the beginning of 2019 Techstars started another European program around smart cities in Amsterdam with their corporate partner Arcadis.{{Cite web|url=https://www.techstars.com/content/accelerators/technology-leaders-city-2030-meet-inaugural-class-arcadis-city-2030-accelerator-powered-techstars/|title=The Technology Leaders of the City of 2030: Meet the Inaugural Class of Arcadis City of 2030 Accelerator, Powered by Techstars|access-date=2019-06-14|date=2019-03-04}} In 2021, Maëlle Gavet became CEO.{{cite web|url=https://www.bizjournals.com/bizwomen/news/latest-news/2021/01/seed-investor-techstars-named.html?page=all|title=Seed investor Techstars names Maëlle Gavet CEO|website=Biz Women|date=January 12, 2021|author=Anne Stych|access-date=September 8, 2023}}

In 2017 Techstars became the first US accelerator to build an office in the UAE.{{Cite web |last=Pupic |first=Tamara |date=2018-04-15 |title=Off To A Good Start: Techstars Dubai |url=https://www.entrepreneur.com/en-ae/starting-a-business/off-to-a-good-start-techstars-dubai/311745 |access-date=2023-09-28 |website=Entrepreneur |language=en}}

In 2022 Techstars expanded its work into Africa.{{Cite web |last=Africa |first=B. I. |date=2023-03-24 |title=ARM Labs Lagos Techstars Demo Day unveils the best and brightest of African startup tech |url=https://africa.businessinsider.com/local/markets/arm-labs-lagos-techstars-demo-day-unveils-the-best-and-brightest-of-african-startup/menfbk6 |access-date=2023-09-28 |website=Business Insider Africa |language=en}}

In 2022, Techstars and J.P. Morgan raised $80 million to invest in over 400 companies through 2024; the fund focuses on underrepresented entrepreneurs.{{Cite news|last=Sraders|first=Anne|title=Inside J.P. Morgan and techstars' joint push to get VC dollars to diverse founders|url=https://fortune.com/2023/01/20/inside-jpmorgan-investor-techstars-fund-vc-diverse-founders/|date=January 20, 2023|website=Fortune}}

In December 2023, the group announced it would pause its Austin operation.{{Cite web |last=Azevedo |first=Mary Ann |date=2023-12-07 |title=Is the Texas boom town of Austin losing its luster? |url=https://techcrunch.com/2023/12/07/is-the-texas-boom-town-of-austin-losing-its-luster/ |access-date=2024-02-24 |website=TechCrunch |language=en-US}} Just a few months later, in February 2024, Techstars announced that it would be moving its headquarters from Boulder to New York,{{Cite web |last=Chuang |first=Tamara |date=2024-02-23 |title=Techstars moving HQ out of Colorado and ending its Boulder accelerator |url=http://coloradosun.com/2024/02/23/techstars-moving-hq-out-of-colorado/ |access-date=2024-02-24 |website=The Colorado Sun |language=en-US}} where its CEO lives, and closing the Boulder and Seattle accelerators.{{Cite web |last=Wilhelm |first=Alex |date=2024-02-23 |title=As Techstars retools, some former staffers say it lost focus on what made it successful |url=https://techcrunch.com/2024/02/23/as-techstars-retools-some-former-staffers-say-it-lost-focus-on-what-made-it-successful/ |access-date=2024-02-24 |website=TechCrunch |language=en-US |quote=former Techstars Seattle managing director Chris DeVore penned a lengthy note criticizing the group’s strategic choices, including centralizing its fundraising efforts, and building programs with corporate sponsors as financial anchors.

The org’s CEO Maëlle Gavet hopped into that discussion and publicly engaged in a back-and-forth with him.

But others privately echoed at least some of DeVore’s sentiments to TechCrunch. One former managing director (MD) said that having local limited partner investors in Techstars meant that more people in those cities had a stake in its local programs.}} The decision was criticized by a former Seattle staffer and others in the startup community.{{Cite web |title=Founders' Co-op |url=http://founderscoop.com/ |access-date=2024-02-24 |website=founderscoop.com |language=en-US |quote=We were saddened, but not completely surprised, by the recent string of bad news coming from Techstars' Boulder headquarters… we were caught off guard by the decision… to cancel the flagship Seattle Techstars program. Not just because we created and led it for many years, but because Techstars Seattle is also the source of many of Techstars' most successful and celebrated successes}} Techstars Seattle was one of the first accelerators to emerge from the Techstars program. The decision to close it was made as the accelerator shifts its focus to cities with more VC activity.{{Cite web |last=Soper |first=Tayler |date=February 21, 2024 |title=Techstars Seattle is shutting down as accelerator shifts focus to cities with more VC activity |url=https://www.geekwire.com/2024/techstars-seattle-is-shutting-down-as-accelerator-shifts-focus-to-cities-with-more-vc-activity/ |access-date=April 1, 2024 |website=GeekWire}}

In May 2024, Gavet announced her resignation and that Cohen would return as CEO.{{Cite web |last=Davis |first=Dominic-Madori |date=2024-05-22 |title=Techstars CEO Maëlle Gavet is out |url=https://techcrunch.com/2024/05/22/techstars-ceo-maelle-gavet-is-out/ |access-date=2024-05-22 |website=TechCrunch |language=en-US}}{{Cite web |title=David Cohen Returns as CEO of Techstars |url=https://www.techstars.com/newsroom/david-cohen-returns-as-ceo-of-techstars |access-date=2024-05-22 |website=www.techstars.com |language=en}}

Techstars admits approximately 1-2% of applicants, typically selecting 12 companies per cohort.{{Cite web |last=Mascarenhas |first=Natasha |date=2022-04-28 |title=Techstars debuts new fund for companies too early for its own accelerator |url=https://techcrunch.com/2022/04/28/techstars-pre-seed-accelerator-fund-rising-stars/ |access-date=2023-09-28 |website=TechCrunch |language=en-US}} Admission is determined by the program’s Managing Director, along with a screening committee consisting of members from the Techstars network.Popper, Ben. [https://venturebeat.com/2012/03/12/techstars-ny-adam-rothenberg-startups-finance/#s:screen-shot-2012-03-12-at-10-59-19-am How the quiet Adam Rothenberg became number two at hot startup incubator Techstars NY]. Venture Beat. March 12, 2012.

In exchange for 6% common stock, each company accepted into Techstars receives $20,000 in funding along with a $100,000 convertible note. Participants also gain access to the Techstars network and receive benefits valued at over $5 million, which include $100,000 in AWS credits.Fields, Jonathan. [https://www.amazon.com/Uncertainty-Turning-Fear-Doubt-Brilliance/dp/159184424X/ref=sr_1_1?ie=UTF8&qid=1334710978&sr=8-1 Uncertainty: Turning Fear and Doubt into Fuel for Brilliance]. Portfolio Hardcover, 2011. The accelerator program spans three months and is divided into three phases: mentorship, growth, and investment.{{cite web|last1=Patterson|first1=Irina|last2=Arnold|first2=Candice|url=http://www.sramanamitra.com/2011/03/07/business-incubator-series-an-interview-with-david-cohen-founder-and-ceo-startup-accelerator-techstars-%E2%80%93-boulder-colorado-part-1/|title=Business Incubator Series: An Interview With David Cohen, Founder And CEO, Startup Accelerator TechStars – Boulder, Colorado (Part 1)|work=Sramana Mitra|date=March 7, 2011}}

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• Bench{{cite web|author1=Crook, Jordan|title=TechStars-Backed Bookkeeping Service 10Sheet Relaunches As Bench With New $2M Seed Round|url=https://techcrunch.com/2013/07/16/techstars-backed-bookkeeping-service-10sheet-relaunches-as-bench-with-new-2m-seed-round/|website=TechCrunch|date=July 16, 2013}}
• Digital Ocean{{cite web|author1=Lardinois, Frederic|title=Digital Ocean's Journey From TechStars Reject To Cloud-Hosting Darling|url=https://techcrunch.com/2014/03/23/digital-oceans-journey-from-techstars-reject-to-cloud-hosting-darling/|website=TechCrunch|date=March 23, 2014}}
• FullContact{{cite web|author1=Wauters, Robin|title=TechStars Graduate FullContact Lands $1.5 Million, Helps Keep Contact Records Updated|url=https://techcrunch.com/2011/09/08/techstars-graduate-fullcontact-lands-1-5-million-helps-keep-contact-records-updated/|website=TechCrunch|date=September 8, 2011}}
• Graphic.lyCheredar, Tom. [https://venturebeat.com/2012/04/05/graphicly-pulls-ipad-android-apps/ Graphicly shutters iOS & Android comic book apps to focus on self-publishing service]. Venture Beat. April 5, 2012.Vuong, Andy. [http://www.denverpost.com/ci_14855746 Colorado startups becoming tech stars]. The Denver Post. April 10, 2010.
• IntenseDebateKincaid, Jason. [https://techcrunch.com/2008/09/23/automattic-has-acquired-intensedebates-enhanced-comment-system/ Automattic Has Acquired IntenseDebate's Enhanced Comment System]. TechCrunch. September 23, 2008.
• Mocavo{{cite web|url=https://venturebeat.com/2012/05/16/mocavo/|title=TechStars alum Mocavo grabs $4M to help you find your ancestors - VentureBeat - Deals - by Sean Ludwig|work=VentureBeat|date=16 May 2012 }}{{cite web|url=http://blog.mocavo.com/2014/06/mocavo-acquired-by-findmypast-new-chapter-begins|title=Mocavo Acquired By Findmypast: A New Chapter Begins|work=Mocavo Blog - News, Announcements & More from the World's Largest Free Genealogy Search Engine}}
• Murfie{{cite web|url=http://www.bizjournals.com/boston/blog/startups/2012/02/techstars-boston-startup-murfie.html?page=all|title=An unusual TechStar: Murfie seeks to build huge CD store|author=Kyle Alspach|date=6 February 2012|work=Boston Business Journal}}
• Next Big SoundRuth, Joao-Pierre. [http://www.xconomy.com/new-york/2012/04/05/xconomist-of-the-week-roger-ehrenberg-plans-for-deeper-investments/ Xconomis of the Week]. Xconomy. April 12, 2012.
• Orbotix (Sphero)[https://techcrunch.com/2012/06/29/orbotixs-sphero-is-rolling-into-an-apple-store-near-you.html Orbotix Sphero is Rolling to an Apple Store Near You]. Techcrunch. June 29, 2012.
• Outreach[https://www.geekwire.com/2021/successful-accelerator-cohort-ever-techstars-seattle-class-produced-3-unicorns/ The most successful accelerator cohort ever: How this Techstars Seattle class produced 3 unicorns]. Geekwire. September 22, 2021.
• Plated
• Rheaply{{cite web|url=https://www.waste360.com/financials/rheaply-raises-25m-strengthen-asset-management|title=Rheaply Raises $2.5M to Strengthen Asset Management|publisher=Waste 360|date=March 23, 2020|access-date=May 6, 2020}}
• SendGridDizik, Alina. [http://www.fastcompany.com/1824480/6-time-management-tips-from-accelerator-programs 6 Time-Management Tips from Accelerator Programs]. Fast Company. March 14, 2012.
• Simple Energy{{cite web|url=http://images.businessweek.com/slideshows/2012-06-21/americas-most-promising-social-entrepreneurs-2012#slide20|archive-url=https://web.archive.org/web/20120624005530/http://images.businessweek.com/slideshows/2012-06-21/americas-most-promising-social-entrepreneurs-2012#slide20|url-status=dead|archive-date=June 24, 2012|title=America's Most Promising Social Entrepreneurs 2012|date=21 June 2012|work=Bloomberg.com}}
• Sketchfab{{cite news |url=http://www.rudebaguette.com/2013/02/25/sketchfab-raises-370ke/ |title=With 20,000+ users on board, Sketchfab raises a 370K€ Angel round for its YouTube of 3D |publisher=Rude Baguette |author=Liam Boogar |date=February 25, 2013}}{{cite news |url=http://www.balderton.com/news/sketchfab-raises-2m-to-scale-its-youtube-for-3d-files-592 |title=Sketchfab raises $2m to scale its "YouTube for 3D files" |publisher=Balderton Capital |date=December 5, 2013 |url-status=dead |archive-url=https://web.archive.org/web/20140312002913/http://www.balderton.com/news/sketchfab-raises-2m-to-scale-its-youtube-for-3d-files-592 |archive-date=March 12, 2014 }}
• SocialthingReisinger, Don. [http://mashable.com/2008/08/14/aol-acquires-socialthing/ AOL Acquires Lifestreaming Service Socialthing]. Mashable. August 14, 2008.
• Zagster{{cite news|last=Moschen|first=Isabell|title=The Two-Wheeled Amenity|url=https://www.nytimes.com/2013/06/09/realestate/the-two-wheeled-amenity.html|newspaper=New York Times|date=June 6, 2013}}{{cite web|last=Schiller|first=Ben|title=A Self-Contained Bike Share To Make College (Or Your Office Park) More Fun|url=http://www.fastcoexist.com/3015687/a-self-contained-bike-share-to-make-college-or-your-office-park-more-fun|publisher=Co.Exist}}
• Salubata{{Cite web|date=2021-07-14|title=Tech Los Angeles|url=https://www.techstars.com/newsroom/announcing-the-techstars-los-angeles-accelerator-spring-class-of-2023|access-date=2021-07-14|language=en-GB}}

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