Deadline: 11-May-22
Applications are now open for the Techstars Chicago Powered by J.P. Morgan Accelerator Program.
Techstars accelerators have one goal: to help entrepreneurs succeed. During each three-month program, they surround companies with the best mentors and an unrivaled network of corporate partners, investors, and alumni.
They provide funding and fundraising opportunities, workshops and curated resources, not to mention countless moments where you can learn from your peers. It’s a proven model that’s helped build thousands of successful companies, all over the world.
Open to founders of all backgrounds, Techstars Chicago Powered by J.P. Morgan accelerator program is designed to provide equitable access to funding and support for Black, Hispanic and Latino, Indigenous American and Pacific Islander entrepreneurs building startups that can begin to see a path to scale and are committed to leaning into the uniqueness of the Chicago technology community, which has a special blend of mentorship, camaraderie, and investment culture. Through game-changing investment community partnerships, together they will take steps towards dismantling institutional, structural, and systematic barriers that often limit opportunities.
Funding Information
- Techstars provides accelerator portfolio companies with access to financial, human, and intellectual capital to fuel the success of their business.
- 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).
- Additionally, upon acceptance to a Techstars mentorship-driven accelerator, every company is offered an optional $100,000 convertible note.
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.
Eligibility Criteria
- 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.
For more information, visit https://www.techstars.com/accelerators/chicago-jp-morgan