Boulder, Colorado-based startup incubator TechStars has decided to open a second office in Boston where it will run a concurrent mentorship program starting this summer.
The Boston program – which will probably be located in Cambridge – will accept the same number of companies (10) as the Boulder program, effectively doubling the number of TechStars companies admitted each year. Assuming application rates don’t rise dramatically, this will make it easier for companies to get into the program – especially if they’re willing to relocate to either city.
Co-founder David Cohen says that admission rates are about on par with last year, despite the recession. With the deadline of March 21st still over a month away, TechStars has already received 100 applications for its Boulder program. Last year, 400 applications were collected in total. Those who apply after today will get the chance to state a preference for either location, and those who have already applied to the Boulder program can contact TechStars to switch their preference to Boston.
It would seem TechStars is intentionally trying to fill the mentorship void left by Y Combinator when that incubator announced its departure from Boston in January. However, Cohen says that TechStar’s expansion into Boston has been in the works for about six months now, so Y Combinator’s decision didn’t play a role.
TechStars plans to run its Boston and Boulder programs mostly separately, even though they are going to be held at roughly the same times. About 5-6 investors have contributed to each program, and Boston has its own set of east coast mentors that includes Colin Angle, Don Dodge, Eran Egozy, and Chris Heidelberger. Boston entrepreneur Shawn Broderick will be in charge of managing the new branch.
The programs will mix, however, at the end of both sessions when the best from each are combined and given the opportunity to present to investors in Silicon Valley.
“It offers $6,000 per founder to companies that make its list for up to 3…”
This is the McDonalds of VC. Just as McDs doesn’t offer fine food, nor do these investments offer fine products.
To really good software developers that don’t know any better:
http://sfbay.cr...gslist.org/sof/
== up to twice as much as the 6k investment PER MONTH + no deductible dental, health and 401k
Do not waste your time or your life. My 2 cents.
These people play around with others for a living.
People focus on the money, but that isn’t really the point. If this is anything like YC, the benefit is in the network of other companies, advisers, and contacts.
Also, it is rare to start a company successfully while spending a significant amount of time working on something else. And bringing up salary rates in an enterprise where the payoff is stock is not quite relevant.
Really, I heard of a couple guys who worked at Paypal who’s side project really took off.
@Chris: software developers != geeky entrepreneurs.
I agree the deal doesn’t seem that appealing, but there’s a cost to launching your product while having a job. Sometimes that cost may be too high and you might end up not launching at all.
When I had a “job” I’d come home exhausted, frustrated about not being able to make progress on my thing – the thing I really believed in – and instead having to waste time on some nonsense crap I was told to develop @ work. Yes, I was able to buy a sports car, but I was not happy. Happiness is not “wasting your time or your life”.
>’These people play around with others for a living.’ – Maybe you’re right.
Oh great. Will these people ever learn? If I see any more money thrown at a stupid ‘web 2.0′ idea… With crap like ‘forum 2.0′ i dunno: http://www.f2bbs.com
There is ZERO reason to go to these guys. They have EVERY reason to want you to come to them.
Stay away. Raise the money yourselves. Deal with providers and customers directly.
If you accept their $6,000 (are you F’ing JOKING!!!) you are the King of All Fools, and you deserve what you get.
Which, of course, is Nothing.
cheap investments for big returns
brilliant
Great move by TechStars, good news for Boston.
It’s much easier these days to create a startup, but there are still many still many barriers that can stop, what would otherwise be some really revolutionary companies from getting off the ground. A small amount of money for living expenses while you develop your product and perfect your idea, hosting services, help with incorporation, office space, mentor ship and introductions to an elite network really help some great ideas to into actual products. These companies fill in the gaps the VCs leave open, providing a valuable service and great opportunity for a very reasonable share of the companies.
http://gsc.mit..../cost-of-living
These genius kids have an average years cost of well over $60,000 a year. What are the chances they’re going to give it away for 6k for a few contacts when they have those types of professors?
They’re going there for MIT right?
If not you may as well set up shop in Arkansas.
Well, with Y Combinator moving to Moutain View, TechStars expanding to Boston and Captial Factory starting out this year in Austin 2009 is going to be a great year for startups!
What’s TechStars’ big win so far? Haven’t heard of any.
Note that it takes 3-6 years to see “wins” on startups.. but still:
http://www.tech...panies-in-2008/
Holy crap, this kid’s a total pimp. He should be allowed to post an article on TechCrunch
http://www.thes...icle2233878.ece
Do IT!
Crapstars
so what next ? office in Israel?
TechStars has taken a very good step.Wish good luck for Cohen from the core of my heart.
I know Google reads Techcrunch.
DDMS is nice and everything but restarting the emulator a million times after recompiling apks REALLY SUCKS.
GOOGLE. Evil Empire of Mountain View, 4 words.
Break, Edit and Continue
Don’t say it’s impossible with Java, Netbeans does it. This development cycle has been a living hell restarting the jvm 40 times a night when I get home from work. Mercy.
I like the concept of YCombinator. It’s always good to have a little bit competition also in this field.
FYI, LaunchBox Digital’s deadlines for LaunchBox09 are approaching.
Early admissions deadline is February 28, 2009.
Final deadline for applications is March 16, 2009.
Best of luck, regardless of the program you apply to!
For those knocking the program because it doesn’t offer a “large amount of funding”, I think you’re missing the point. Yes, funding helps get a start up off the ground, but at the end of the day partnering with the right people will make SO MUCH more of an impact! Bottom line, money does NOT = a successful start up… smart, innovative and resourceful people = successful start up!
I’ve blogged about the TechStars program here http://froogloi...ad-us-at-hello/
Updated link: http://www.froo...had-us-at-hello
Morons:
Comprise the list of fools looking to catch the attention of Ycombinator and Techstars.
These guys are PayDay loans for the startup looking for cash.
STAY AWAY. Or go and Fail. Miserably.
@key – take off the aluminum foil helmet and stop scanning for the black helicopters. There is no such thing a “undisclosed finders fees” with Ycombinator, TechStars, Launchbox, and others.
It is seed funding and lots of hands-on help, plus access to an advisor network for intros and focused advice that someone signs up for.
I like the niche they fill, and in this environment, I am happy they are all open for business.
VC:
Agreed. However, I often wonder why the closed formula.
Why must one “pay to play” with Ycombinator and others. A solid company and product should not require “introductions” to people in the know.
The impression this gives new developers is that there is but one or two ways to success, and you need to go through seed funding companies to make it a go.
Such a system limits everyone, and should be fully transparent. Asking for full disclosure isn’t paranoid. It’s good business.
Ycombinator offers legal advice etc. That’s a red flag as it causes an immediate conflict of interest, as I’m sure you’d agree–if in fact you are a VC as you claim.
When the lines blur, things get confusing to the guy with the idea. Nothing wrong with VC funding, but it should be viewed as a loan with perhaps some contact. Nothing more.
To suggest otherwise is absurd.
Y combinator published the standard legal docs they use online for people to use as they see fit. LOTS more transparent than other processes
Nice post! Keep it real.I have looked over your blog a few times and I love it.