The Real TechStars of New York
Entrepreneur-turned-investor Mark Suster has already dispensed email advice for “us sarcastic bastards who have slitting tongues,” but on this week’s episode of TechStars he gives David Tisch a run for his money on the real talk/insult-o-meter, to some amusing ends. (Check out our top five list after the end.)
In Episode Four, Mr. Tisch is trying to prepare the teams for Demo Day and “access to a room full of money,” in some cases by throwing ping pong balls or fake cash to see if he can distract them. He also encourages them to “try your best to get a third of what you’re looking for soft circled,” so they can present with some momentum. The VC weather report might be frothy, but not all the teams are finding it easy.
TechStars will now offer every accepted company a $100,000 convertible note.The money will come from a new $24 million fund backed by Foundry Group, IA Ventures, Avalon Ventures, DFJ Mercury, SoftBank Capital, SVB Financial Group, RRE Ventures, Right Side Capital Management, TechStars Alumni, and several individuals investors.
Here is the strange thing about Meetup.com. It’s terrific for organizing people to get together in the real world. But even though there are 28 adult soccer clubs on Meetup near the Betabeat office, each one sits in a separate silo and doesn’t connect to its peers. Trying to merge groups together is a nightmare on Meetup.
Kohort, the new startup from Mark Davis, just raised $3 million from folks like IA Ventures, RRE, FF Capital, David Tisch and David Cohen. It’s going to be offering a suite of tools to help groups do things like organize events, collect dues and enlist new members.
But the secret sauce, says one investor, is the way in which Kohort will help groups to interact with one another. “Meetup is essentially providing a platform for anyone to create a group, but its not tapping the network effect that comes from tying those organizations together.”
Hm, odd that this item isn’t #1 on Y Combinator’s Hacker News! A survey of VCs, angels and accelerator graduates shows the original TechStars incubator is more effective than Paul Graham’s venerable Y Combinator. TechStars-Boulder was ranked first, beating Y Combo by a “narrow edge,” Tech Cocktail writes.
Yesterday New York expat Matt Mireles “speared a sacred cow,” in his words, by questioning the credentials of TechStars director David Tisch, whom he has never met. “Why is Techstars NYC run by a non-entrepreneur?,” he tweeted, with a link to Mr. Tisch’s TechStars profile, and tagged the tweet “#confused #BigCoSubsidiariesAreNotStartups.”
We have to admit, we were curious about Mr. Tisch’s credentials too. We didn’t know the story of how Mr. Tisch came to be director of TechStars NY. Turns out it’s a pretty interesting one.
It’s been a soggy three months for David Cohen, who moved here from Boulder Colorado with his wife and one year old child to help launch TechStars NY.
But the payoff today was better than expected. “What really surprised me was the speed with which New York investors are moving these days. We got four Read More
Today TechStars announced it raised $8 million from more than 50 different venture funds and 25 angel investors in order to fund TechStars programs in all its cities for the next four years or so. In the past, TechStars would raise one fund per session in each city–twice a year.
Tech Bubble Watch
Today TechStars announced the TechStars Network, a sort of accelerator franchise that bestows the TechStars brand upon 17 independently owned accelerators across the world that will replicate the TechStars incubator model.
Boulder-based TechStars just started running its first New York program earlier this month. The TechStars program offers startups $18,000 in seed funding, a program Read More
Techstars NY, which is more selective than the Ivy League, has chosen its first class of eleven startups.
For those who are keeping track, that means one more company slipped in than was originally planned.
It’s an interesting range of companies. Two companies have yet to write a single line of code, four have raised Read More