Techstars plans to invest in more than 100 start-ups in 2022 through its accelerator programmes in seven European countries.
Techstars is boosting its presence in Europe with two new accelerator programmes in Paris and Stockholm.
More than 100 start-ups across seven countries are expected to benefit from Techstars’ European investment in 2022. Its programmes will be backed by a $150m fund that Techstars closed over the summer to support early-stage founders around the world.
Just like the London accelerator cohort announced last week, the new Paris and Stockholm accelerators will accept 12 start-ups each. Participating companies will get up to $120,000 funding from the programme, as well as training and mentorship from its vast network of mentors and alumni.
While Paris will see two classes per year starting in 2022, the Stockholm programme will run once in 2022 and twice annually thereafter.
‘Paris and Stockholm are two of Europe’s most rapidly growing yet underserved tech hubs’
– MAËLLE GAVET
Maëlle Gavet was appointed as the CEO of Techstars earlier this year. Gavet, who is a French entrepreneur and former Compass and Priceline Group executive, will lead Techstars’ expansion into Europe and help more founders find capital.
Gavet said she believes in the power of local systems and that life-changing ideas can come from anywhere in the world – not just in Silicon Valley.
“At Techstars, we meet the founders where they are and use our local networks to give them access to world-class capital and investing opportunities they wouldn’t otherwise have.
“Paris and Stockholm are two of Europe’s most rapidly growing yet underserved tech hubs, and we know there is a huge amount of talent there ready to be harnessed.”
The company also recently announced the appointment of former Walt Disney executive Matthew Grossman as its new chief brand and communications officer.
Before joining Techstars, Grossman worked at Disney for 12 years and was the VP of corporate communications at the time of leaving. Based in London, he will focus on growing Techstars’ global brand and increasing awareness around how the company can support entrepreneurs across the world.
Founded in the US in 2006, Techstars has invested in 2,589 companies to date – which together account for a combined valuation of more than $220bn. Some of the unicorns in its portfolio include DigitalOcean, Chainalysis, PillPack and SendGrid.
It currently operates 47 accelerators in 33 cities across 12 countries in the world. In Europe, it has programmes in London, Amsterdam, Berlin, Oslo and Turin. While it has had an accelerator programme in corporate partnerships in Paris before, this Stockholm programme marks Techstars’ first entry into Sweden.
The two new accelerators begin accepting applications today (14 September) until 1 December, with the first classes due to start on 21 March 2022.