Considered by many to be the best accelerator program in the world Techstars recently made the headlines by announcing its first ever program outside the US. Its choice of location? None other than London. There’s already a very vibrant startup and tech scene in London so it’s a pretty natural choice although the UK government and initiatives like Tech City have also apparently played a critical role in helping Techstars decide on its first overseas venture.
Techstars is already such an acclaimed program but they have added another string to their bow here in the UK by merging with the UK accelerator Springboard to operate Techstars London. The London program aims to support up to 20 startups annually. The good news is that startups who apply for the program can come from anywhere, not just the UK or even Europe. It’s mandatory however that they do relocate to London for the duration of the three month program.
Chosen startups will receive investment in the region of €85,000 which will comprise of an initial €15,000 in see funding and then an optional €70,000 convertible debt note that all Techstars companies receive. As well as that of course there are the invaluable benefits - the top quality mentorship, the opportunity to pitch to some of the world’s leading angel investors and venture capitalists and a ‘perks’ package estimated to be worth in the region of $278000. Impressive!
It’s expected that the London program will start in July of this year and there will be an intake of 10 companies for the program. Interested in entering? You’ll be able to do so pretty soon - from 15th March in fact. The key thing to remember though is that with a program as prestigious as this, it’s going to be a pretty competitive affair. The best of the best are selected. Think you’ve got what it takes to be one of the ‘chosen few’? Simply check out the Techstars website for more details. One more thing - the best of luck!