Start-ups who see the merit of $120,000 in funding and an office in Manhattan are being invited to take part in the new Techstars Connection programme in New York, headed by Irishman Eamonn Carey.
Carey was recently appointed managing director of the Techstars Connection programme in New York and is running the programme alongside Patrick O’Riordan, head of innovation and exploration at AB InBev, Techstars’ corporate partners.
The companies that are selected will receive up to $120,000 in funding. They’ll get free office space in downtown New York for the duration of the programme and for a while after.
‘We’re looking for a pretty wide variety of companies – from people who are just launching their product right the way through to companies that have raised an A or B round’
– EAMONN CAREY, TECHSTARS
They will also get access to intense, hands-on mentorship from the panel of Techstars mentors, as well as from top executives from AB InBev.
Carey said that start-ups that get onto the programme will also have access to more than 400 perks worth in excess of $1m and will get access to some of the world’s leading investors in various fields.
The lucky start-ups will also get access to Techstars’ Equity Back Guarantee.
“Techstars companies go on to average more than $2m raised in outside capital after the programme,” Carey said in response to questions from Siliconrepublic.com.
“We believe our stats speak for themselves. We want to work with the best possible companies to really help them scale and help them create huge companies.”
West-side start-up story
The programme will be based in Chelsea on Manhattan’s west side and will run from October until early February.
Carey embarked on his own start-up journey 10 years ago and in recent years worked with Techstars in London before taking the reins of Techstars Connection in New York in recent weeks.
“We’re looking for a pretty wide variety of companies – from people who are just launching their product right the way through to companies that have raised an A or B round,” Carey explained.
“We’ve previously invested in everything from idea-stage companies right the way through to ones that have raised more than $20m. In terms of technologies, we’re casting the net pretty wide.
“It can be divided into four broad categories: we’re looking for companies that can seamlessly connect and bring people together for enhanced social experiences, conveniently connect people to products with greater speed and efficiency, enhance consumption experiences through curation, personalisation and localisation, and leverage the hidden benefits of raw materials, fermentation and brewing in products and systems that help people to live well.
“Ultimately, what that means is that we’re targeting a broad swathe of companies.
“These range from people who are enhancing or optimising the brewing process, developing products that help people connect or find interesting things to do, working on products that leverage or work with sponsorship assets, companies that are doing data and analytics around consumers, marketing and more. This goes right the way through to companies working on things like logistics, stock management, on-demand, healthy fermented drinks and much more.”
Manhattan skyline image via Shutterstock