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Techstars prides itself on graduating companies that get results. The accelerator program is now seeking applications for its summer 2014 classes, which lasts May 27 to August 27.
The 13-week boot camp, which comes with funding, mentorship and other perks, is offered in several cities including Boston, Boulder, Chicago, New York, Seattle, London and Austin on a regular schedule, but the February 3 application applies to just the Chicago and Austin locations.
Thousands of companies apply to the program annually but only about 10 are chosen per class. Though it was upped to 12 for this year’s Boston class. Techstars companies start with $18,000 in seed investment and are offered an optional $100,000 convertible debt note. On average, companies go on to raise about $1.6 million after the program.
Since Techstars started in 2006, 233 alumni companies are still active and 30 have been acquired, meaning only about 10 percent have failed. The accelerator has generated 2,377 jobs.
As part of the Chicago outreach process, Troy Henikoff, managing director, has traveled to locations throughout the Midwest to help recruit, including outreach initiatives with South by Southwest.
Since getting selected into the accelerator is very tough, Henikoff has some word of advice for companies that make it in the program - and for those that don’t: “Keep plugging. We’re not a requirement for success.”
Techstars Boulder has about 76 alumni companies so far, including:
Simple Energy, develops cloud-based customer engagement software, recently raised $6 million
Revolv, recently raised $4 million and developed its first product that connects home automation devices
To apply, visit the Techstars website. Applications are open until March 15. Click here for tips and an FAQ on what to know about applying.
