The US-based startup which numbers remote processing stage Digital Ocean and other start-up victories among graduates have propelled operations in India.
Techstars accepts startups
Techstars operates in several cities all around the world including New York City, London and Paris. It has accepted more than 1000 startups into its programs since its launch in 2006. Collectively these companies have raised more than $3.8billion with combined market capitalization of $9.9billion.
Techstars operations in India
For its operations in India, it has entered into a joint venture with ANSR, which helps enterprises build and manage in-house or external accelerators and other startups-focused infrastructure.
Techstars aims to open centres across multiple locations in India in a few years. The firm’s first centre will be launched in Bengaluru next year. Typically, new companies chose to Techstars’ three-month quickening agent program are offered $20,000 in return for 6% basic stock and a $100,000 convertible note upon acknowledgement.
Techstars Four divisions
Techstars operates four divisions – a start-up program, a quickening agent, corporate advancement organizations, and an investment support. “Expect to see us with several different types of products in several different locations (in India) over the years,” says David Cohen, Techstars co-CEO who is among the earliest investors in Uber, said.
“The launch of Techstars India will provide an impetus to the rapidly growing startup ecosystem and the emergence of India as a dominant entrepreneurial network,” says Lalit Ahuja, CEO of ANSR Consulting.