Techstars Seattle Accelerator

Deadline
October 06, 2021

Opportunity begins:

Jan 24, 2022

Opportunity ends:

Apr 21, 2022


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Location (s):

  • Online
  • United States of America
Seattle, Washington; Hybrid program

Overview

Techstars is the global platform for investment and innovation. Located in the home metropolitan area of two of the largest technology companies in the world and a vibrant entrepreneurial ecosystem, this program continues to grow its legacy of startup success as it enters its second decade. Join one of our 3-month accelerators to gain funding, mentorship and access to the Techstars network for life.

Located in the home metropolitan area of two of the largest technology companies in the world and a vibrant entrepreneurial ecosystem, this program continues to grow its legacy of startup success as it enters its second decade.

Details

Applications open six times a year, and stay open typically for 12 weeks. After applications close, we’ll review applications for about seven weeks, and spend time getting to know even more about your team, market, progress and idea. Our goal is to notify the final group of companies being accepted within eight weeks from the application closing date.

Like you, we’re entrepreneurs. We think that the value of the learning, networking, and mentoring provided by the program is of tremendous value. The Techstars program will provide you with the healthiest possible start and greatly improve your chances for success and sustainability. Once we invest, we’re motivated to help you succeed by introducing you to people who can help, assisting you with strategy, finding more investors, and generally helping you win all along your entrepreneurial journey. That’s a good deal for both of us.

Techstars wants to be viewed as a co-founder. We don’t want any special or controlling interests in your company. We won’t ask for a board seat or for any uncommon investor rights. You will still run the show.

We do require that you be primarily based on-site during the program, unless you are participating in one of our virtual programs. This benefits you because you can take advantage of the numerous learning opportunities, networking, and coaching that we provide. The amount of serendipity, unannounced drop-in mentors, and camaraderie that is developed during the program is staggering.

Techstars is a major commitment, and we expect you to be around most of the time. However, it’s your company, you call the shots, so traveling as necessary for business or family requirements is okay by us.

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.

Benefits

  • Access to Techstars resources for life;

  • Acceleration in a 90-day Techstars mentorship-driven accelerator program with personal mentorship and office space;

  • Lifetime access to the Techstars worldwide network of entrepreneurs, including more than 10,000 mentors, 10,000 investors, 1,600 alumni companies, and over 200 staff members;

  • Access to over $400k of cash equivalent hosting, accounting, and legal support—plus other credits and perks worth more than $1M;

  • Demo Day exposure and other investor connections.

Historically, on average, Techstars companies go on to raise more than $2M of outside capital after the program.

With the exception of our virtual programs, we provide working and meeting spaces, as well as a nice lounge, all with super fast and reliable wireless Internet access. We just want you to focus on creating a great product while you’re here, and not have to worry about all this other stuff.

Opportunity is About:


Eligibility

Candidates should be from:

Description of Ideal Candidate:

  • We fund all types of startups, working in all verticals, using any type of business models. Do keep in mind, however, that our focus is on startups rather than small businesses.
  • We do our best to avoid accepting competitive companies into the same program class. However, with the growing number of Techstars companies, there may be competitive companies in the broader Techstars network. In the event there is a company in the Techstars portfolio that’s competitive, we work tirelessly to ensure there is no exchange of sensitive data.

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.

Dates:

Deadline: October 06, 2021

Program Starts: January 24, 2022

Program Ends: April 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
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