When you join the program, we invest €20k as a token of our faith in your startup. This is not a valuation exercise, and we do not negotiate on the valuation.
You’ll also have access to a $100k convertible note, which converts at a $3mil cap.
We have invested in companies that had already raised a Series A round, had $1m+ of annual revenue run rate or had a staff of 50+. We have also invested in a team of experienced founders who were in the earliest stages of launching their next venture. Ideally you are somewhere in between. When in doubt, just contact us, and we will be happy to discuss this in detail.
Bear in mind that the 6% common-stock participation fee for the program actually comes with an equity back guarantee. What this means is if you go through the program and you finish the thirteen weeks and you don't feel that you received 6% benefit from the program, you can just tell us how much of that equity you want to buy back. And you can buy it back at the same price we purchased the shares. This is our way of putting our money where our mouths are. We want everybody who wants to go through the program to be happy with the experience that they have with Techstars and we want to make sure that we're providing as much possible value as we can.