By Marius Ciocirlan, Managing Director
Timing is a crucial factor in the success of a startup. Even with the right team, ample funding, and cutting-edge technology, if your timing to market is off, your journey will be an uphill battle.
Technology innovation occurs in waves, such as the computer era, internet, and mobile. Currently, we are at a pivotal moment in history where a new wave is beginning to take shape. The culmination of past infrastructure work in cloud computing, fintech, and artificial intelligence is reaching an inflection point that will ignite a new wave of innovation.
As the saying goes, "A rising tide lifts all boats." Building during the start of an innovation wave - rather than the end - can be a game-changer. However, most innovation waves do not always align with favorable market conditions, making it more challenging to get started. In a frothy market, funding may be scarce, and teams are heavily scrutinized, making it even more crucial to showcase great traction.
At Techstars Seattle, we offer early-stage startups the opportunity to accelerate their growth and increase their chances of success. With access to funding, office space, a supportive community, and experienced mentors, we help founders find product-market fit quickly and overcome common challenges.
Since 2010, more than 140 companies have gone through the Techstars Seattle program, collectively raising more than $2.8B in private capital.
Three companies from the 2011 class have become Unicorns.
86% of Techstars Seattle companies have exited or are still in business, defying typical startup statistics.
The last three classes have achieved gender-parity at the CEO level.
Three of the less than 200 Black, women tech startup CEOs in the United States who have raised $1M or more in venture capital are graduates of Techstars Seattle.
In 2023, Techstars Seattle will double the class size from 12 to 24 companies. This means more entrepreneurs can access Techstars' resources, mentorship, and funding, increasing their chances of success. A larger cohort will also foster collaboration and idea-sharing among participants, creating a more diverse community of innovators.
Our intense three-month program is designed to help you find product-market fit quickly and increase your chances of success. You'll also have access to over 260 program mentors, many of whom have founded successful companies themselves. These mentors can help you avoid common mistakes, and set you on the right path.
Our program includes workshops, dedicated 1:1 office hours, networking events, and private weekly talks with successful founders, some of whom have sold their companies for hundreds of millions or have gone public. On top of that, we offer up to $120k in funding at the start of the program, as well as hundreds of thousands of dollars worth of deals on cloud services, SaaS software subscriptions, and other resources to help you run your business. At the end of the program, we put you in front of hundreds of investors and showcase your progress at Demo Day.
Techstars Seattle is particularly interested in diverse, early-stage teams focusing on B2B SaaS, machine learning/AI, crypto/Web3, gaming and games infrastructure, marketplaces, e-commerce, and automation tools. While you don't have to be based in Seattle to apply, we find that founders who join our community in Seattle benefit from becoming entrenched in the ecosystem and can take advantage of additional networking opportunities. However, we will continue to operate a hybrid program and that will allow teams to participate remotely.
If you’re a highly ambitious, driven, tech founder or founding team, and you want to dramatically increase your odds of finding entrepreneurial success, Techstars Seattle is the right choice.
We're thrilled to be at the doorstep of the next wave of innovation, and we can't wait to support founders in seizing this opportunity!
If you're considering applying, we strongly encourage founders to schedule an Office Hours appointment to discuss your company - click here to book time with our team.
Applications are due by July 5, 2023 - to apply now, click here!