TechStars, a startup mentorship program similar to Ycombinator, is opening a new office in Boston. TechCrunch speculates that the move is in response to Ycombinator closing their Cambridge office but the truth is Bill Warner, Shawn Broderick, and other Boston based mentors have been working on this for 6 months. I have been a mentor to TechStars in Boulder since its inception, and will take a larger role with the Boston based program.
Other Boston mentor supporters include Dan Bricklin (inventor of VisiCalc) John Landry, (Serial entrepreneur) Colin Angle, (co-founder of iRobot), Eran Egozy (co-founder of Harmonix, maker of Guitar Hero and Rock Band), Nabeel Hyatt (founder. Conduit Labs), Rich Levandov (Partner, Masthead Ventures and Avalon Ventures), Bijan Sabet (Partner at Spark Capital), and others.
TechStars is all about mentors helping first time entrepreneurs get started. Giving them the advice and mentorship they need to take an idea and build it into a startup. The list of entrepreneurs, VCs, and startup mentors is truly impressive. TechStars provides some seed funding that basically provides living expenses while the founders are developing their idea.
Typically at the end of the 3 month program the founders have built a functioning product/service, have worked out a business model, and have a rational business plan ready to pitch to Angel investors and VCs. In fact, at the end of each session TechStars holds an Investor Day attended by over 50 VCs and Angels. Many companies receive Series A funding at the end of the program.
Applications for TechStars is now open. Apply by March 21, 2009. Check out the TechStars site for more information and links to startups from prior TechStars sessions.
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