Techstars application tips from a Graduate
Techstars has changed my life.
My startup was one of Techstars’ earliest graduates. I’m currently a Techstars Mentor In Residence; I’ve mentored with 8 programs and more than 30 classes and was named an All-Star Mentor in 2023.
I know what it takes to not just make it through Techstars but get into Techstars.
From personal experience and insights drawn from Techstars classes, here’s how to create an application that makes a compelling case for your startup.
Choose the Right Program
With 46 programs globally, each Techstars accelerator has its own unique focus and mentor group.
It’s essential to select a program that aligns closely with your startup’s sector and growth stage.
Each three-month program is designed to help entrepreneurs achieve product-market fit, gain traction, and access both capital and mentorship.
Understand the Core of Your Application
It's crucial to showcase not only the uniqueness of your idea but also a deep understanding of the market you're entering.
This involves demonstrating a clear grasp of your industry's landscape, identifying potential challenges and opportunities, and articulating a unique vision for navigating this terrain.
The essence of the Techstars application is not just about what your startup does but how your team adapts and grows. You should demonstrate a comprehensive understanding of your market and strategic foresight.
The application encourages you to dive deep into your mission and vision, encouraging thorough preparation that goes beyond surface-level details.
5 Key Focus Areas
Clarity and Precision: Articulate clearly what your startup is about. A concise and precise description makes it easier for reviewers to grasp your value proposition quickly and see the potential impact of your startup.
Founder-Market Fit: Illustrate your deep connection to the problem you are trying to solve. A founder with a personal stake or story that aligns with the startup’s mission can profoundly influence the application's success.
Traction Regardless of Stage: Show concrete evidence of your market engagement, whether through customer interviews, early adoption metrics, or initial sales. Highlight any groundwork, such as partnerships or pilot programs, which underscore your strategic approach and commitment.
Flexibility and Responsiveness: Techstars values founders who are adaptable and receptive to feedback. Include instances of pivots or strategic adjustments made in response to customer feedback or data-informed decision-making, showcasing your growth mindset and dedication to evolving your business according to market needs.
Dynamic Team Interplay: Emphasize the synergy and capabilities of your founding team. The best founding teams have one co-founder who focuses on building and another on selling. A team that frequently ships code and consistently acquires new customers exhibits a bias for action, enabling product velocity, qualities that accelerators like Techstars find attractive.
Expand Your Narrative
Startups are stories we tell ourselves about the future.
In addition to the primary application content, consider adding anecdotes that demonstrate your team’s problem-solving skills in action.
Stories of overcoming significant hurdles not only illustrate your persistence but also humanize your application, making it more memorable to the reviewers.
One More Thing…
Ensure every section of your application is meticulously crafted and factually accurate.
Remember a few sentences back when I talked about storytelling? Well, there’s a big difference between storytelling and telling stories (lying). Don’t tell stories.
Good Luck
Techstars isn't just about accelerating business growth; it's about integrating into a community of forward-thinkers and innovators.
Following these guidelines will bolster your application and ensure that you are aligned with Techstars' values and objectives.