Let's Woo Techstars

Approach Techstars with a mutually beneficial plan through their Corporate Program.

Two recent examples of this model just starting 1Q22 are: 

• Techstars Filecoin Accelerator
• Techstars Web3 Launchpool Accelerator.

Sponsors Filecoin and Launchpool jointly invest in the programs and will gain equity positions along with Techstars in the companies they accelerate (although not a necessary requirement). 

Techstars is a WW accelerator program and we could build a virtual Cardano focused program.

WHY TECHSTARS

As this Challenge States: This challenge seeks professional-grade Accelerator programmes and Business Incubators to step up, co-develop, and deliver venture building programmes with Catalyst.

There are few comparable accelerator programs to Techstars.

Techstars is backed by over 75 different venture capital firms and consistently rated among the best startup accelerators in the world.

The Techstars story is a guide of how to use the power of a network, mentorship and giving back to create a unique culture and excite the entire community. After only a few years Techstars documented how its model works and gave it to the world for free. While others warned them of creating competition, they ended up getting two new branches from that: Chicago and London.

Techstars by the Numbers:

• 48 Accelerator Programs
• 287 Classes
• 2,696 Graduate Companies
• 6,933 Graduate Founders
• 7,312 Program Mentors
• 20,690 Company Investors
• 90+ Corporate Partners
• 339 Acquired Companies
• 18 Unicorns
• $1.0M Average First Raise, Post Program
• $18.8B Total Lifetime Funding Raised
• $77B Cumulative Graduate Market Cap

Techstars alumni benefit from lifelong relationships with mentors and corporations.  You join a unique community of startup founders.  

CHOICES

12 week full-on daily Accelerator - similar to the Filecoin and Launchpool require a commitment of 3 cohorts of around 12 teams.  Pricing includes investment from the Corporate Partner in the projects and accounts for project equity in return.  Although, if no equity is required, the pricing could be different.  Each Cohort is $3.05M max, reduced by equity participation decisions.

10 week Founder Catalyst Accelerator - commitment of one cohort of up to 20 teams.  The 10 week program is a great place to start and is $400K of the total $500K budget of this Challenge.  Since this is a limited budget, and would need higher approval to go with the 12-week program, we could do a trial version of the 10-week program and then decide based on that if the 12-week program is something we could fund.

BUDGET

$405,000 Total

PLAN

Time     Task

N/A       Contract for the Founder Catalyst Accelerator ($400K) 10 -week one-time

20         Arrange meetings / Secure Quotes / Hold Discussions on viability of long term relationship

20 Total Hours

$250 Hourly Rate

20 x $250/hr = $5000

2 Weeks to complete negotiations, depending on who from Cardano Foundation or IOG needs to be involved in the final decisions.  10-weeks from start to finish of accelerator.  20 worthy teams go through the program.

Launch Would be Dependent on How Quickly 20 teams could be selected.

Success after 3-months is the Founders Catalyst Accelerator ran with 20 teams.

Success after 6-months is a decision to go forward with the 12-week program.

Success after 12-months is one cohort ran through the 12-week successfully and another cohort is scheduled.