Home Call for Applications Techstars Alabama EnergyTech Accelerator

Techstars Alabama EnergyTech Accelerator

by opportunitydiary

Application Deadline: May 11th, 2022

This program focuses on startups addressing innovative electrical and utility solutions. In 2021 this program hopes to run in-person, dependent on COVID-19 conditions.

Eligibility

  • Techstars funds all types of startups, working in all verticals, using any type of business models. Do keep in mind, however, that the focus is on startups rather than small businesses.
  • Techstars wants to be viewed as a co-founder. They don’t want any special or controlling interests in your company. They won’t ask for a board seat or for any uncommon investor rights. You will still run the show.
  • The primary language that they use in verbal and written communications during all accelerator programs—in every country—is English.
  • They provide financial support to organizations committed to increasing diversity in entrepreneurship.

Benefits

Access to Techstars resources for life;

Acceleration in a 90-day Techstars mentorship-driven accelerator program with personal mentorship and office space;

Lifetime access to the Techstars worldwide network of entrepreneurs, including more than 10,000 mentors, 10,000 investors, 1,600 alumni companies, and over 200 staff members;

Access to over $400k of cash equivalent hosting, accounting, and legal support—plus other credits and perks worth more than $5M;

Demo Day exposure and other investor connections.

Historically, on average, Techstars companies go on to raise more than $2M of outside capital after the program.

Application Procedure

Upon acceptance to a Techstars Accelerator, Techstars contributes $20,000, which is commonly used as a stipend to support living expenses during the program, and in return receives 6% equity of the company (on a fully diluted basis, issued as common stock) until the company raises a priced equity financing of US $250,000 or more (a “Qualified Financing”). However, if a company conducts a Network Launch using distributed ledger technology (i.e. a blockchain initial coin offering, token event, etc.), then Techstars will also receive 6% of the Token Reserve (i.e. the tokens “held back” for the founders and the company at Network Launch). In addition, all accepted companies are offered a $100,000 convertible note.

Each company also receives:

  • Access to Techstars resources for life
  • Acceleration in a 90-day Techstars program with intense, hands-on mentorship from Techstars Mentors
  • Connections to the Techstars Network of over 10,000 founders, alumni, and mentors globally
  • 200+ perks and growing
  • Office space for three months (unless you are participating in a virtual program)
  • Demo Day and other investor connections
  • Equity Back Guarantee, the only one of its kind in our industry

Official Website: Techstars Alabama EnergyTech Accelerator

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