Invitation-Only Global Network Of Startup Accelerators Launches Today
Nashville, Tenn. (January 31, 2011) – Nashville-based tech business incubator Jumpstart Foundry has been announced as a charter member of TechStars Network, an invitation-only network of startup accelerator programs aimed at startup creation and job growth.
TechStars, the leading startup accelerator program in the United States, has launched the TechStars Network, an alliance of independently owned and operated startup accelerator programs from dozens of cities across the United States and around the world. Based upon the mentorship-driven model pioneered by TechStars, these programs provide seed funding and mentorship to innovative entrepreneurs. The TechStars Network connects these organizations and provides best practices, professional development, networking opportunities and ongoing support for member organizations.
“We successfully launched Jumpstart Foundry in Nashville last year, but TechStars is the best micro-fund in the country. We jumped at the chance to join forces, learn from their experience and share best practices,” said Vic Gatto, head of investor relations for Jumpstart Foundry. “We believe the combined efforts of the members of the TechStars Network will strengthen entrepreneurial activity across the country and become an answer to the search for economic growth and job creation over the next few years, and Jumpstart Foundry is proud to be part of this solution.”
Jumpstart Foundry joins ten other U.S.-based business incubation programs and four international firms to make up TechStars’ new network. JSF’s centralized location and focus – attracting fledgling companies in the areas of healthcare IT, data systems and social engagement tools – gives the organization unique positioning to draw interested applicants from throughout the Southeast.
The application process is underway for companies interested in joining JSF’s program – a 14-week, mentor-driven cohort learning program scheduled to begin in mid-May. The six companies chosen will receive $15,000 in seed-stage funding, as well as office space at the Entrepreneur Center in Nashville, to hone their product/business idea, leading to a presentation to interested next-stage investors in late August. Interested businesses and entrepreneurs can apply by visiting www.jumpstartfoundry.com.
The TechStars Network will be part of The Startup America Partnership, launched earlier today by President Obama. In partnership with the White House, the goal of the TechStars Network is to become an engine for job growth by ensuring that over the next four years, 5,000 experienced business leaders and investors will mentor and support 6,000 promising young entrepreneurs. The aim is to increase the success rate and sustainability of each program, and to ultimately create 25,000 new economy jobs by 2015.
“We’ve been flattered by more than one hundred organizations who have contacted us hoping to learn from our experiences at TechStars. We’ve always tried to be responsive and have helped many get started,” said David Cohen, founder and CEO of TechStars. “The TechStars Network signals and formalizes our support for other credible mentorship-driven programs. We believe the proliferation of the mentorship-driven accelerator model is healthy for entrepreneurs. Through this network of independent organizations, we can help increase their impact dramatically and make entrepreneurial communities the real winners.”