LONDON--(BUSINESS WIRE)--Sep 14, 2021--
Techstars, the worldwide network that helps entrepreneurs succeed, announces the launch of two new accelerator programs in Paris and Stockholm. The launch showcases Techstars’ commitment to investing in startup talent in Europe, where it plans to invest in more than 100 startups in 2022 through its various accelerator programs in seven countries. Both programs will be fully funded by Techstars, following the recent July close of a new $150 million fund, intended to support more local entrepreneurs looking for global exposure.
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A Techstars Accelerator Office (Photo: Business Wire)
The Paris Techstars Accelerator and Stockholm Techstars Accelerator will each accept 12 startups per class, who will benefit from up to $120k in funding alongside evergreen access to Techstars’ vast network of mentors, investors, alumni and corporate partners. The Paris accelerator will operate two classes per year, while Stockholm will run once in 2022 and twice per year from 2023 onwards. Applications for these accelerators open today and will close on 1 December 2021, with the first classes of both programs due to commence on 21 March 2022.
Applications will be accepted from startups across all high-growth sectors, both B2B and B2C, and successful applicants will have a strong founding team who are using technology to tackle complex problems, with a clear and scalable product-market fit.
The Paris and Stockholm Techstars Accelerator programs follow the recent appointment of French-born CEO, Maëlle Gavet, in January 2021. An experienced French entrepreneur and former executive at Compass and Booking.com, Gavet’s experience scaling companies across Europe will assist Techstars on its mission to help more entrepreneurs in more places transform the world through access to capital and a global network.
Techstars currently operates 47 accelerators in 33 cities and 12 countries around the world, and while it previously operated a Paris-based accelerator in partnership with corporate partners, the Stockholm Techstars Accelerator marks its first venture into Sweden as it eyes expansion opportunities across Europe. Since 2009 and 2010, the company has been actively supporting thousands of entrepreneurs in Paris and Stockholm, respectively, by hosting more than 90 Techstars Startup Weekend programs in both cities, in close collaboration with local ecosystem leaders. Additionally in Europe, Techstars operates programs in London, Amsterdam, Berlin, Oslo and Turin.
Since its inception in 2006, Techstars has invested in 2,589 companies, which today have a combined market capital valuation of $220.1 billion. It counts 15 unicorns among its accelerator graduates, including DigitalOcean, Chainalysis, PillPack and SendGrid. Techstars invests in approximately 500 startups and deploys approximately $130M per year, making it one of the largest investors in high-growth early-stage companies by volume in the world.
Maëlle Gavet, CEO of Techstars, said: “ We believe in the power of local ecosystems and that life-changing ideas can come from anywhere in the world - you don’t need to be in Silicon Valley to be a success. At Techstars, we meet the founders where they are and use our local networks to give them access to world-class capital and investing opportunities they wouldn’t otherwise have. Paris and Stockholm are two of Europe’s most rapidly growing yet underserved tech hubs, and we know there is a huge amount of talent there ready to be harnessed.”
The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 2,589 companies with a combined market cap of more than $220.1B. www.techstars.com
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