United States of America
We are big on passion. We want our founders to be passionate about their startups. We want our Managing Directors and mentors to be passionate about the companies in the class. With passion being the uniting emotion, we believe magic can happen for a startup within the Techstars ecosystem. Show us your unbridled passion for your team and product.
Austin has one of the fastest growing, collaborative and exciting tech ecosystems in the country! The Techstars Austin program focuses on investing in founders who we believe have the ability to build a meaningful company and attract world class talent. The 2021 class this year is simply incredible, made up of some really extraordinary founders solving real world problems and bringing tangible value to their customers and shareholders. In 2022 this program hopes to run in-person, dependent on COVID-19 conditions.
Recently ranked the #14 fastest-growing startup ecosystem in the world among many other top rankings (places to live, fitness, education), Austin has exploded onto the startup scene. With a strong tech community and a burgeoning investor network, Austin is attracting the best and brightest from all over the globe. Known for its friendly and welcoming startup vibe, founders are flocking to Austin to launch and grow their businesses.
HOW IT WORKS
- Our Three-Month Program: We don’t tell you what to do or when. We create an environment that is conducive to helping your startup every day by surrounding you with people who will mentor, inspire, and challenge you.
- Grow Your Network: From a large pool of mentors, find your top 3-5 mentors who will be committed to helping you with product development, market fit, and who will also provide valuable introductions to help grow your company — fast.
- Gain Traction: Go deeper with your lead mentors, work with your Managing Director, gain traction and hit your milestones – whether that’s a prototype, building out the next phase of your product, finding your first customer or hitting $50M in revenue.
- Accelerate Your Business: Determine your fundraising strategy and prepare to meet with investors. Learn how to communicate your vision and prepare to meet with investors, partners and other key stakeholders who can help shape your future.
- Demo Day: The program culminates with a celebration at Demo Day! This is your chance to show the world how much progress you’ve made in just a few short months.
- Techstars for Life: While the program itself may be over, Techstars is for life. Leverage the network through Techstars BizDev Days, Techstars Investor Days, Techstars FounderCon, ongoing mentorship, monthly alumni events, and access to a deep well of resources.
Opportunity is About:
Candidates should be from:
Description of Ideal Candidate:
We fund technology oriented companies, typically these are web-based or other software companies, but we’ve funded companies that don’t quite fit that mold as well. We’re also looking for companies that can have national or worldwide reach. Specifically, we don’t fund biotechnology companies, restaurants, consultancies, or other local service oriented companies.
We look at team, team, team, market, progress, idea—in that order.
We choose great founders who are proposing products that solve real problems or create meaningful innovations. For us, it’s about the team. For this reason, we’re less likely to accept single founder companies (you’re less likely to have all the skills your company needs to succeed).
The best things you can do to strengthen your application are:
- Round out your team with business, technical, and other necessary skills;
- Make progress on your prototype or product and reference it in the application;
- Show us you’ve really thought about your business and have gotten out there to do something about it;
- Demonstrate early traction or provide data points to validate your core assumptions.
Deadline: October 06, 2021
Program Starts: January 10, 2022
Program Ends: March 21, 2022
Cost/funding for participants:
Upon acceptance to a Techstars Accelerator, 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”). However, if a company conducts a Network Launch using distributed ledger technology (i.e. a blockchain initial coin offering, token event, etc.), then Techstars will also receive 6% of the Token Reserve (i.e. the tokens “held back” for the founders and the company at Network Launch). In addition, all accepted companies are offered a $100,000 convertible note.
Each company also receives:
- Access to Techstars resources for life
- Acceleration in a 90-day Techstars program with intense, hands-on mentorship from Techstars Mentors
- Connections to the Techstars Network of over 10,000 founders, alumni, and mentors globally
- 120+ perks and growing
- Office space for three months (unless you are participating in a virtual program)
- Demo Day and other investor connections
- Equity Back Guarantee, the only one of its kind in our industry