Today Techstars announced that it has acquired UP Global, including the organization’s Startup Weekend, Startup Week, Startup Next, and Startup Digest programs.
This is great news for entrepreneurs everywhere.
Both organizations have a deep seated community-centric ethos that aims to accelerate the pace of innovation through community-focused, entrepreneurial-led business creation. UP is now in 600 cities, 120 countries and six continents. Techstars now has over 18 programs worldwide and counting.
Together, Techstars and UP Global create a powerful union which will strengthen the global entrepreneurial ecosystem and bring even more support to the entrepreneur’s journey. The two organizations are stronger together because of the efficiencies gained from meeting in the middle of this journey: UP Global focuses on grassroots, community-led inspiration and getting founders started on their path, while Techstars helps to make that dream a reality by helping founders establish solid, sustainable and successful companies.
I’ve been involved in both organizations since the beginning – as one of the founders of Techstars and as a board member for UP Global. Both organizations started on the entrepreneurial journey together and share a similar vision of entrepreneurship. The first Startup Weekend took place in Boulder in June 2007 and I’ve been on the UP Global board since it was formed by the merger of Startup Weekend and the Startup America Partnership. Many of the ideas in my book Startup Communities: Building an Entrepreneurial Ecosystem in Your City have been informed by my experiences with these organizations and they have incorporated many of the ideas from the book into what they do.
When David Cohen, David Brown, Jared Polis, and I founded Techstars back in 2007, our vision was to make entrepreneurship accessible to everyone. By bringing UP into the Techstars family, this helps to bring this vision even closer to reality.
Together, UP and Techstars have built programs and resources for every stage of the entrepreneurial journey – from community catalysts who are focused on early stage grassroots community development to entrepreneurs looking for more formal opportunities that provide education, experience, acceleration, and funding.
The merger of these two great organizations is a logical next step in the expansion of vibrant startup communities around the world. I’m a huge believer in consolidating efforts between complementary organizations. This one was a natural one and I’m excited about what’s coming UP!
Getting into an accelerator is increasingly difficult. While there has been a proliferation accelerators around the world, there has simultaneously been a dramatically increasing number of companies applying to accelerators. In my world, supply and demand never balances out, so if you are on the application side of this equation, it’s important to do everything you can to improve your chances.
UP Global, an organization that I’m on the board of which is the umbrella organization for Startup Weekend, Startup Education, Startup Digest, and Startup Week, has just rolled out a new program called Startup Next. I participated in an early version of it and am psyched to see it ready for prime time.
Startup Next is a five week program that acts as a “pre-accelerator” – something between a Startup Weekend and a Techstars. Over the five weeks, there is a weekly three hour session. Through a structured approach of group discussions, mentor sessions, and weekly pre-work deliverables, startups walk away with the skills needed to validate your business idea, a clear understanding of your customer development strategy, a completed market and competitive analysis, a MVP and, an investor ready pitch deck.
Once the five weeks are over, the best teams get to present their companies to the heads of various accelerators. This is being done in partnership with the Global Accelerator Network which is a network of over 50 of the top accelerators in the world.
The accelerator route is not for every entrepreneur, as there are as many different paths to building a startup. But if you want to go through an accelerator, it helps to stack the deck in your favor and I think pre-accelerator programs like Startup Next can be really valuable, not only in helping you fine tune your business, but getting you broad exposure to some of the best accelerators in the world.
I’m excited to see my friends at UP Global and the Global Accelerator Network teaming up on this. And look for some magic accelerator stuff from FG Press coming in July.