Milestones Icon: TechStars

As Boulder’s reputation for being a cradle for innovative tech companies has grown, one organization has come to represent the city’s cutting-edge thinking and community-minded spirit.

TechStars, a startup accelerator founded in 2006 by four local entrepreneurs and investors, has received acclaim as being one of the best business mentorship programs in the world.

The program was launched by David Cohen, Brad Feld, Jared Polis and David Brown. Veteran entrepreneurs with a number of hits and a couple of misses to their credit, they were eager to share their wisdom and nurture the next generation of startup companies.

Their philosophy, as stated in the first words of “Do More Faster,” a book written by Cohen and Feld, is that being an entrepreneur is hard and that mentorship is essential.

TechStars selects about 10 startup companies each summer – about 600 companies apply each year – and provides them with seed money, a place to work and, most importantly, lots and lots of advice and guidance from seasoned entrepreneurs.

TechStars’ roster of mentors is a who’s who of successful entrepreneurs and tech industry executives. They share what they have learned in presentations or one-on-one work with the fledgling companies.

Companies that make the cut spend three months working on their products, refining their strategy and meeting with mentors and potential investors. The hard work culminates in Investor Demo Day, when the companies make their pitches to hundreds of angel investors and venture capitalists.

Companies that enroll in the program agree to give TechStars a 6 percent equity stake, but the companies remain under their founders’ control.

The program has proven to be a success. Of the 41 companies to have graduated the program, all but four still exist or have been acquired. Collectively they have raised $38.7 million in venture capital.

TechStars has created programs in New York City, Seattle and Boston, and has launched the TechStars Network to help other tech accelerators by sharing its methods and best practices.

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