Wednesday, June 28, 2017

Techstars Expands Virtual Accelerator Effort

Boulder-based Techstars announced on Wednesday morning that it is expanding its virtual accelerator, Techstars Anywhere, after a successful first class. According to Techstars, it will accept a full ten companies into the next class, which will kick off in January 2018, up from the first four companies in its pilot program. The startup accelerator effort is an attempt to reach companies who cannot relocate to one of its other, physical startup accelerators, and in particular founders who might have other considerations which would bar them from moving. Techstars said applications for the program will open on July 24th, and that companies accepted into the program will receive $20,000 and access to the program for 6 percent of the common stock in the company, plus access to a $100,000 convertible note.