Hops & Chops

Entrepreneurs - Apply NOW to TechStars Seattle

TechStars is a mentorship-driven, seed-stage investment program. It is now accepting applications for the inaugural Seattle class. The early deadline for applications is May 21, 2010, with a final deadline of June 1, 2010. Those groups that apply by the early deadline may be selected to participate in TechStars-For-A-Day a one-day mini camp for applicants to see what the program is like. The 10 companies selected for the Seattle TechStars class will kick off the program on August 16, 2010.

Program Summary:

• Three-month program to help a founding team focus on building a great company

• Access to over 40 first-class mentors who will provide advice, contacts, and best practices

• $6,000 per founder (up to three founders) to help get your company off the ground

• Companies attend over 40 sessions with the program mentors during the program

• TechStars provides working and meeting spaces with fast, reliable wireless Internet access

• At the end of the program, TechStars organizes an Investor Demo Day where approximately 200 venture capitalists and investors come together to talk with you about your business and potentially provide follow-on financing

Who are the mentors?

The Seattle program of TechStars has over 40 mentors including founders from top startups like Redfin, Zillow, Cheeseburger Network, Picnik, Hops and Chops :-) and UrbanSpoon. Representatives from every venture capital firm in town, as well as Senior executives and technology experts from Amazon, Google, Microsoft, the University of Washington, and more.

What does TechStars get from working with these startups?

In exchange for the seed investment, resources and access to the program, TechStars will get a 6% equity stake in the company. TechStars receives “founders stock” which is common stock, just like the other co-founders. It is important to TechStars to be thought of as an experienced and well-connected co-founder with the same risk and reward system that management has. As a result, TechStars has an incentive to remain a long-term partner and resource for your company, well after the three-month program has ended.

How successful is TechStars?

The program has had a lot of successes in its other cities with 56% of its mentored startups going on to get further venture/seed funding. TechStars tracks its success metrics in many ways, which you can review by going to www.techstars.org/results.

Want to learn more?

Click here for FAQs, a list of Seattle TechStars entrepreneur mentors with full bios, video testimonials, and the application page.