Earlier this week, TechStars announced that it is joining the Entrepreneurs Foundation of Colorado (EFCo) and is pledging 1% of its equity to EFCo. As a co-founder of both EFCo and TechStars I couldn’t be more pleased.
EFCo is an exciting project and TechStars is the sixth member company, joining the founding member companies Collective Intellect, Me.dium, NewsGator, Rally Software, and Tendril. We have several other companies in the final process of joining which we hope to announce in April.
So there is no confusion, the equity being contributed by TechStars is of the actual TechStars organization, not the companies that participate in the TechStars program. TechStars does receive 5% of those companies, so each of the companies that participates in the TechStars program will indirectly be participating in the Entrepreneurs Foundation of Colorado, yet the cost associated with the program is being borne by the investors in TechStars.
If you are the founder of an angel or venture backed company in Colorado and are interested in finding out more about the Entrepreneurs Foundation of Colorado, drop me an email.