The pioneering technology accelerator TechStars did something for its own business rather than the fledgling companies in its program last week, raising $24 million in venture funding (bringing their total to $34 million) from some 75 venture funds and angel investors. Of course, TechStars plans to use that money to give $100,000 of additional seed finance to every single startup admitted to one of its programs in 2012 and beyond.
The funding could make the accelerator even more competitive than it is today from an admissions perspective. The pool of entrepreneurs vying for one of 60 spots in this prestigious franchise--currently operating in Boulder, Boston, New York, and Seattle--faces a 99% likelihood of rejection, reports David Cohen, CEO and founder of TechStars (in image above, left with David Tisch, right).
To read the full, original article click on this link: TechStars CEO David Cohen On Giving Startups A $100,000 Shot In The Arm (Or A Kick In The Pants) | Fast Company
Author:Lora Kolodny
