Tower of Power - Shawn Broderick is the Executive Director of TechStars Boston
TechStars helps entrepreneurs turn their ideas into real companies, fast.
TechStars is now operating in three cities: Boulder, Boston, and Seattle. The Boston program begins March 2, 2010, and the application deadline is January 11, 2010 at seconds before midnight (how many seconds is not disclosed).
If you know a great team of early stage entrepreneurs, you should let them know about the Boston TechStars program.
Here's why I love TechStars and feel it is the right way to help early stage entrepreneurial teams:
TechStars creates community between the 10-12 teams that are funded, and it creates community between the 50-70 mentors who spend time with the entrepreneurs to help them work out their idea. This dual-community building is very powerful, and creates real connections between entrepreneurs and the people who can help them, including a wide range of angel investors and technical advisors.
TechStars is immersive for the teams, and also for the mentors that get involved. Everyone is in the soup. You bond around building things, rather than talking.
TechStars is overwhelming in that it provides too much input from a wide range of people. Why is this good? It forces the entrepreneurs to follow their instincts while picking and choosing among the input that is coming at them. There is just no way to try and "thread the needle" between all the input. You have to be clear about what's important to you, and use the knowledge for your own goals.
TechStars is competitive. Hey, building things is fun, and TechStars does this on steroids. Each team is making things happen right away, and that spurs teams that might be behind to kick their own butts into gear.
TechStars forces you to get great at presenting. Again, its through help, input, repetition, competition and camaraderie. While public speaking is often people's worst fear, by the end of TechStars, it becomes one of their biggest strengths. I've seen people who were literally terrified to present transform themselves into smooth and confident presenters in three months.
TechStars teaches you to present from the heart. There isn't a single formula for the presentations. Each one is different and is based on the company and its founders. This resonates with potential investors
TechStars puts on a great show for investors. Each program ends with an Investor Day presentation. Last year in Boston, there were over 300 people at the event. The energy in the room at the Boston event was amazing. TechStars knows how to put on a good show. TechStars knows how to fill the room with qualified investors. And this creates enourmous pressure on the TechStars founders to rise to the occasion.
TechStars builds lasting friendships. I'm still working with companies from the first TechStars program in Boston. I've made some great friendships that will last.
And lastly: The TechStars Train is Leaving the Station! Tell people who should apply to get it done!
Some important links:
TechStars Application (Due Jan 11 for Boston: http://www.techstars.org/apply/
TechStars Boston Mentors: http://www.techstars.org/mentors/boston/
TechStars Home Page: http://www.techstars.org
David Cohen (TechStars Founder) blog: http://www.davidgcohen.com/blog/
Brad Feld (TechStars Co-Founder and VC) blog: http://www.feld.com/wp/
A Ton of TechStars Boston Photos on Flickr: http://www.flickr.com/search/?q=techstars+boston