If you are a flat broke entrepreneur with a brilliant startup idea, you just cannot afford to miss this unique opportunity. TechStars, the famous startup fund/incubator, is currently accepting applications for its 2008 intake. Applications close March 31, 2008, that means you have exactly 71 days left to apply.
Remember what happened last Halloween when Condé Nast acquired YCombinator-funded Reddit. Like YCombinator, TechStars too helps in getting your idea off the ground. By taking up to ten companies each summer, TechStars fills the huge startup-funding gap.
Each selected company receives 15k U.S. $ in seed funding ($5k per founder, maximum $15k) and a chance to pitch to angel investors and venture capitalists by the end of summer.
The ten winning companies are expected to spend most of their time in Boulder over the Northern summer establishing their ideas. In return, TechStars takes 5% of the equity in each startup.
The winners get complete access to TechStar’s offices, where they are offered legal advice, and over 50 highly accomplished mentors to help them build their idea.
If you are a non-US company, you are encouraged to apply. However, you must legally agree to spend most of your summer in Colorado.
TechStars companies get 40+ educational opportunities during the summer. No wonder then, Jared Polis, Founder, BlueMountain.com and ProFlowers.com, feels that
“It’s a no-brainer. TechStars is the best way for founders to get their companies off and running.”
Among the last year’s winners, eight of the ten companies are currently angel or venture backed, profitable, and/or have had acquisition offers.
So there, in case your company becomes the chosen one, you know where you heard about this opportunity.
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