Techstars 2009 - Applications Open Today!
A year goes by quickly, especially if it happens to be ‘the year’ you get into the Techstars program. TravelFli was one of ten companies out of almost 400 applicants to be invited to come to Boulder (ok, ok, we were already here) to participate in the 2008 Techstars incubator program last summer.
The Techstars program is actually a seed stage fund that provides a modest amount of money (up to 18K in 2009) for the founders of the companies that get accepted – in exchange for a 6% equity stake. Some of the companies (like us) got caught up on these minor details because 15K for 5% (last year’s numbers) just didn’t seem make sense. If you are the founder of a company applying in 2009, DO NOT let this concern you. You will find, as did the class of 2008, that Techstars will be the best decision you ever made for your business… (other than to sell it, of course) ☺
Moving on…Techstars is 100% driven by the mentorships it helps cultivate over the summer. The whole program is built around the idea that if you surround yourself with people who have been there, done that — they can help you avoid making the same mistakes they did. And believe me, it works. The program is only two years old and already David Cohen, Brad Feld, and the others have assembled an amazing group of active mentors who are there to help you succeed. It’s freaking amazing. They are also happy to make introductions to venture capitalists, industry heavyweights, and other important people that would take a ‘normal entrepreneur’ years to meet – if ever.
Techstars 2009 applications open today! If you are considering applying, do it now. It may be the best decision you ever make. Apply early because the more face time you can get with David and the others, the better your chances of getting selected. The deadline for Summer 2009 is March 21st.
Here are a few other tips to keep in mind:
- They focus heavily on the team when screening applicants. If your idea isn’t so hot but you have a passionate, diverse group of founders, there’s a good chance you’ll get in. If you’re riding solo, find a co-founder. Like yesterday.
- Go attend a Techstars meetup. They’re being hosted in a bunch of different cities and you’ll get to meet David, Brad or Andrew and learn what it’s all about.
- Follow everybody you can on Twitter and get acclimated with the Techstars community. Start with @Techstars, @bradfeld, @dgcohen23 and @andrewhyde and go from there. My user name is @kristapaul.
- DO NOT MISS TECHSTARS FOR A DAY ON MARCH 3RD. Unless you are having triple bypass surgery or a baby, get to Boulder for this all-day meeting. You being there will demonstrate to David that you are serious about Techstars and ready to drop everything to commit three months of your life to the program…and the rest of your waking hours to your business! (P.S.You must apply by March 1st to get invited).
- Introduce yourself to past Techstars co-founders. You can learn a lot from them/us and I don’t think my team utilized these connections as well as we could have.
- They are not limiting the number of companies to 10 this year! They may take more…or less…depending on the strength of the applicants. This is even more of a reason to apply now if you’re serious about getting your business off the ground.
Get excited!!! Techstars changes lives and launches businesses. I can’t wait to see what this next year brings.
Here’s a little slideshow I put together of our experiences in 2008. Thanks to Andrew Hyde, Samantha Murphy, and all the other folks I nabbed pics from on Flickr.
