MaritimeTech accelerator Program for Startups in Maritime Industry from Techstars

Techstars is launching the world’s first global MaritimeTech accelerator, this program focuses on innovations in the maritime industry. The program is positioned as a key contributor to the maritime industry’s innovation ecosystem. Join one of Techstars 3-month accelerators to gain funding, mentorship, and access to the Techstars network for life.

About the Program:-

• Techstars accelerators have one goal: to help entrepreneurs succeed. 
• During each three-month program, Techstars surrounds companies with the best mentors and an unrivaled network of corporate partners, investors, and alumni. 
• Techstars provides 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. 
• Applications open six times a year, and stay open typically for 12 weeks. After applications close, Techstars will review applications for about seven weeks, and spend time getting to know even more about your team, market, progress and idea. The goal is to notify the final group of companies being accepted within eight weeks from the application closing date.

• Techstars provides companies with access to financial, human, and intellectual capital to fuel the success of their business. 
• Additionally, upon acceptance to a Techstars mentorship-driven accelerator, every company is offered an optional $100,000 convertible note.
• Access to over $400k of cash equivalent hosting, accounting, and legal support—plus other credits and perks worth more than $5M.
• 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.
• Demo Day exposure and other investor connections.

• Techstars funds all types of startups, working in all verticals, using any type of business models. Do keep in mind, however, that Techstars’ focus is on startups rather than small businesses.
• 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).
• Techstars requires that you be primarily based on-site during the program, unless you are participating in one of the virtual programs. This benefits you because you can take advantage of the numerous learning opportunities, networking, and coaching that Techstars provides.
• Techstars is a major commitment, and you are expected to be around most of the time. However, it’s your company, you call the shots, so traveling as necessary for business or family requirements is okay.

Selection Criteria:-

• Techstars chooses great founders who are proposing products that solve real problems or create meaningful innovations. 
• For Techstars, it’s about the team. For this reason, Techstars is less likely to accept single founder companies (you’re less likely to have all the skills your company needs to succeed). The best things you can do to strengthen your application are:
• Round out your team with business, technical, and other necessary skills.
• Make progress on your prototype or product and reference it in the application.
• Show you’ve really thought about your business and have gotten out there to do something about it.
• Demonstrate early traction or provide data points to validate your core assumptions.

About Techstars:-

Techstars is an American seed accelerator and a global platform for investment and innovation founded in 2006 in Boulder, Colorado. As of 2019, the company had accepted over 1,600 companies into its programs with a combined market capitalization of $18.2bn USD. Fewer than 1% of the over 17,000 applicants are accepted. Startups can apply for Techstars' program and their viability is judged by the Managing Director of the program they applied to, as well as a screening committee composed of various members of the Techstars network.

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