Over the many years we've been working with early stage companies,
we've seen a lot of success among those entrepreneurs who seek the mentorship
and guidance of their peers, investors and partners.
TechStars is
an excellent example of this kind of collaboration in action. An elite, mentorship-driven
start-up accelerator, the TechStars
philosophy focuses on mentorship, and surrounding startups with highly engaged
members of the entrepreneurial ecosystem to coach and support them to success.
Joining more than 75 venture funds and angel investors that
originally funded TechStars, we became its exclusive national bank sponsor and preferred banking partner for the TechStars companies earlier this year. Through our
TechStars participation we are able to offer our help, banking services and
experience to companies with great potential and entrepreneurs with ambitious
ideas.
Today, we announced a new phase in our TechStars relationship by participating in a new venture to provide
financing to TechStars companies. SVB Financial Group joins
a dedicated group of mentors and startup enthusiasts in this effort: Foundry
Group, IA Ventures, Avalon Ventures, DFJ Mercury, SoftBank, RRE Ventures, Right
Side Capital Management, TechStars Alumni, and several individuals.
Starting
in 2012, every new TechStars company will have the
option to accept an additional $100,000 in funding in the form of a convertible
note as soon as they are accepted as a TechStars company. This applies to any
of its 2012 programs in Boston, New York City, Boulder, Seattle, and TechStars
Cloud.
We think this level of support will be incredible for
entrepreneurs and will continue to improve upon the TechStars program. Given
the opportunity to fully concentrate on the development of their products and
their companies, without having to fundraise simultaneously, gives startups a
giant leg up. We like those odds and the quality of the companies that
TechStars is producing.
If you are, or know of, a future TechStar, check out the 2012
schedule for applications available here, and apply.