Today, Techstars is announcing Techstars Mobility, driven by Detroit with our partners Ford Motor Company, Magna International and Verizon Telematics. Mobility and transportation are changing and we want to help the next generation of companies make it happen. Techstars is also committed to operating this program in Detroit, the center of the global mobility and transportation ecosystem.
Techstars Mobility, driven by Detroit will give 10 selected companies deep connections with our partners, $120,000 in funding and three months engaged with our extensive mentor network. Each of our program partners brings an important piece of the mobility industry into this Techstars accelerator:
- Ford, one of the leading innovators in the industry since it’s inception who continues to lead with a focus on mobility and transportation under the direction of Bill Ford;
- Magna International, one of the largest automotive suppliers in the world with connections and distribution channels to virtually all auto producers and into other transportation industries;
- Verizon Telematics, who puts the connected in connected car with their terrestrial and satellite based communication solutions.
The Techstars program will be located in the growing entrepreneurial district of Detroit. There has been a recent renaissance in Detroit with many startups moving to the downtown area and venture capital becoming very active in the region. Throughout the development of the Techstars Mobility program, Techstars worked with Detroit based venture capital firms Fontinalis Partners, Detroit Venture Partners and Renaissance Venture Capital to recruit mentors and ensure capital was ready to deploy in the region. Many other venture firms have also contacted Techstars communicating their interest in bringing capital to Detroit.
Techstars will be bringing their proven accelerator model and extensive network of mentors, founders and corporations to Detroit to support this program. Techstars will also coordinate efforts across the Detroit entrepreneurial ecosystem as a member of the Detroit Technology Exchange (DTX), ensuring that Techstars can have a positive impact across the entire community. Techstars Mobility, driven by Detroit will run for three years with a new class of 10 startups each year.
The program kicks off June 9, 2015, and concludes with a Demo Day on September 10, 2015 where each team will present to investors, industry leaders, and the community at large. Ted Serbinski, formerly with Detroit Venture Partners, has been named as the Managing Director of Techstars Mobility, driven by Detroit. Ted and his team are full-time Techstars staff and will live and work in the Detroit area. Applications are being accepted through March 15, 2015.