Techstars Detroit Accelerator Applications are Now OpenBy Amanda Lewan on December 11th, 2014 /
Techstars, a well known tech accelerator with locations across the nation, has announced this week the opening of their corporate backed Detroit accelerator focused on mobility.
Ford, Verizon, and Magna International have given $2 million in support to open the accelerator, which appears to be located just outside of Downtown Detroit. Techstars collectively has had 49 companies acquired, with 417 active companies still growing today. The average amount a participating startup raises through their program is around $1.8 million.
In Detroit, ten local startups can participate in the summer program where they will receive $120,000 in funding and access to over 50 mentors. The Detroit accelerator program will be headed by Ted Serbinksi who will step down from Detroit Venture Partners.
“Techstars validates that the Detroit startup community is real. It’s growing and there is significant potential. Techstars bets early on rising ecosystems (think Boston in 2008, Austin in 2010) before those ecosystems exploded,” said Serbinksi. “I’m joining Techstars to continue my mission to make Detroit a top-10 startup hub in the country.”
Serbinski shared with us that an ideal company for applying to the program should be aiming to transform how the world thinks about mobility and transportation, and would also benefit from the strategic corporate sponsors.
Applications are open now and due by March 15th. Learn more about the application.
Read more about the program details in Crain’s Detroit’s latest piece.
*updated 5pm on 12/11 with Serbinski’s insight.