This post was originally published by Katie Roof on foxbusiness.com.
Startup founders know Techstars as a prestigious accelerator program, an early stage mentorship opportunity which helps startups kick ideas into action. With locations throughout the world and partnerships with large corporations, Techstars identifies founders with talent and vision.
Techstars CEO David Cohen spoke in a video interview with FOXBusiness.com and described what it takes to be amongst the 1% of applicants that get accepted. The program has launched some rising stars in the startup world, including Classpass and Sendgrid.
Techstars is “looking for amazing people with big ideas and some momentum on that idea,” Cohen said. He said they evaluate founders on what’s “motivating them to change the world” and that ideally, their passion comes “from the heart.”
With locations in Colorado, Chicago, London, Berlin and more, Techstars mentorship programs span the globe. The team has also launched accelerators in conjunction with Disney, Nike, Barclays and Sprint.
The programs last three months and in addition to mentorship, the startups get receive an initial seed investment in the company. Techstars also participates in subsequent financing rounds and recently raised a $150 million fund for early stage venture capital.
Techstars is headquartered in Boulder, Colo.
“We are creating quite an ecosystem across the world of both funders for venture capital as well as mentors who help the companies,” Cohen said.