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Hi, I’m Brad Feld, a managing director at the Foundry Group who lives in Boulder, Colorado. I invest in software and Internet companies around the US, run marathons and read a lot.

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Another $100,000 For Every TechStars Company

Comments (16)

Today, TechStars announced that they’ve raised $24 million from a broad syndicate of investors to fund an additional $100,000 for every TechStars company going forward. The investors include Foundry Group, IA Ventures, Avalon Ventures, DFJ Mercury, SoftBank Capital, SVB Financial Group, RRE Ventures, Right Side Capital Management and TechStars alumni.

There are lots of good articles on the news – two of them are at TechCrunch (Startup Incubator TechStars Raises $24M, Increases Funding For Each Company By $100K) and Launch (TechStars Offering Extra $100K to All Companies with New $24M Fund.)

One of the principles of TechStars has been to be as inclusive as possible for the VC and angel investors in the communities in which we run programs. To date, there are over 75 VCs and angels that are funding TechStars programs in Boulder, Boston, Seattle, and New York. There are many more who have invested in individual TechStars companies.

With the launch of the new TechStars Cloud program, there are now over 60 new companies a year going through TechStars and getting launched. At $100k / company, TechStars has raised enough to fund each company with the incremental $100k for the next three to four years (that’s a hint that there will be more programs coming.)

When I think about all the amazing investors – and the hundreds of mentors - involved in TechStars, I’m deeply humbled to be a part of it.

  • Carrie

    Congrats to TechStars and all involved. This is a game changer!

  • Osman

    The growth of TechStars has been phenomenal.  Woot!

    • http://www.feld.com bfeld

      Thanks! Yeah – it’s been fun.

  • Bryan Batten

    Very cool this program is growing as it is. What a great opportunity for entrepreneur’s to learn under great guidance and provide them an opportunity to get off the ground on a solid foundation.
    - Bryan Batten

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  • Vivek Chandrasekhar

    Brad, I saw from the Techstars FAQs that you did have overseas founders in the program before. I  am based in Canada (and that after much struggle !) ,I think technically we could be legally in the US for the duration of the program. But what happens after that ? Would investors not be interested in hearing us out because the founders are not US citizens ?  Could you share what happened with such teams earlier?

    • http://www.feld.com bfeld

      It varies. While the US immigration issues for entrepreneurs are not solved, they have been improved recently, especially around founders being able to get H1-B visas for companies they start (as long as they don’t control them). We’ve had some people fight through the visa issues; others have gone back to their home countries. Hopefully we’ll end up with a Startup Visa here in the US at which time the answer will be simple – you can stay and start your business here!

      • Vivek Chandrasekhar

        Yes I read about the clarification on the H1B for founders. But now I am too scared to give up my Canadian PR (after living off a suitcase for 4 years ) and put myself through the uncertain US Visa process again . So I was thinking of a scenario where I get funded through TechStars, spend 3 months there but on demo day how investment prospects might swing because I have to to be based out of Vancouver or Toronto. Well, yeah I agree there are many variables. So I think I am gonna take it head on and see where it leads . Thanks for the quick note Brad !

  • http://joycemsullivan.com Joyce Sullivan

    Investors, mentors and amazing talent coming together > this is the star nebula of tomorrow’s industry and jobs. Well done!

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