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TechStars: A super star support team toward success

Simple premise: When you put tech entrepreneur in a room with amazing mentors magic happens. TechStars provides not only seed funding by top VCs vested in a successful outcome, but an intense mentorship experience with world class entrepreneurs.

Photo of Sina Mossayeb
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TechStars provides seed funding from over 75 top venture capital firms and angel investors who are vested in the success of your startup, as well as intense mentorship from hundreds of the best entrepreneurs in the world. By doing so, people with good ideas build a repertoire of skills and know-how that usually come with elite education or years of successful experience. They are located in various locations, including Col and New York City.

How does it work: Plus those who are accepted (consisting of a cohort) go through a rigorous application process, come together at intervals over a set period of time, with a deadline "demo day", and receive perks (i.e, a number of resources) to create an environment of learning and exponential growth as they build out.

Additional Source:
http://www.businessinsider.com/techstars-office-tour?op=1

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Photo of Anne-Laure Fayard

Very nice Sina!
It seems to be a mix of an incubator and a business plan / entrepreneur competition (which has the educational component that you don't have in an incubator.
http://www.openideo.com/open/web-start-up/inspiration/the-varick-street-incubator/
another related inspiration: http://www.openideo.com/open/web-start-up/inspiration/campus-london/
From the video, I gathered a few elements:
co-location and informal interactions (and the related idea sharing)
network
mentoring and learning

more than the seed money...

Photo of Sina Mossayeb

Yah exactly. The balance of those elements really lend itself to a successful model of sustainability as well as providing an engine for growth.

Photo of DeletedUser

DeletedUser

I would add one more point. Mobility is a must for the majority of entrepreneurs.

Photo of Louise Wilson

Love it, Sina. I was going to post inspiration based on my experience of starting a web business through the Design Council challenges. An incubator with strict deadlines and an advisory board to provide help is essential.

I've found the business mentoring and having people to generally sound ideas off is essential. You learn so much from talking to other people...creating the right environment is a must for a successful web start up.

Photo of Sina Mossayeb

Totally agree.

Photo of Meena Kadri

Great to have you back onboard, Sina. Am liking the time pressure to motivate via the demo day deadline. Reminds me of what goes on over at The Start-up Bus: http://www.openideo.com/open/web-start-up/inspiration/startupbus-a-roadtrip-with-a-difference-/

Photo of Sina Mossayeb

Yeah. Having to ship something really focuses, while the support system ensures (more so than not) that the shipped "product" is geared toward sustainability and long term success.