If you have a web startup idea and a team which can execute it to some extent, you still have just over a day left to apply for TechStars. The application deadline for this summer is tomorrow, March 21st at midnight.
TechStars is a Boston and Boulder based startup incubator program, where teams of budding entrepreneurs are given upto $18,000 in return for a 6% equity in the venture. The program runs over the summer and involves teams living/working in either Boston or Boulder and racing to develop their demos by the end of the summer, when they get a chance to present it to angel investors and venture capitalists. You will, of course, own your company and have complete freedom to relocate wherever you want after that. Most startups which have gone through TechStars over the past few years it has been in existence have gone on to raise additional funding / been acquired / or become self-sustaining. Examples include Socialthing (acquired by AOL), Intense Debate (acquired by Automattic), BrightKite and FiltrBox.
The key benefit of going to TechStars to build your startup is the connections. From the people running the program (well-known investors like Brad Feld), to the mentors they bring on, and other such opportunities mean that you would have a far greater chance succeeding with TechStars than without it. The program has had founders from Sweden, India and other places, but none from Canada as yet. Hopefully that will change this year!
Get your application in before the deadline. The form is very straightforward and contains some basic questions – shouldn’t take more than an hour to fill. Any questions ? Try tweeting Andrew Hyde, their Community Director over at http://twitter.com/andrewhyde
Good luck with your application! 🙂