Techstars is about to launch a new startup accelerator in Paris. Every year, 10 startups will participate in this program during 13 weeks. Techstars is..<\/b>
Techstars is about to launch a new startup accelerator in Paris. Every year, 10 startups will participate in this program during 13 weeks. Techstars is partnering with VC firm Partech Ventures. And in particular, Techstars Paris is going to happen in the Partech Shaker building.
\u201cI\u2019m happy to announce that we\u2019re launching the first program in France, Techstars Paris,\u201d Managing Director Bertier Luyt told me. \u201cIt is a \u2018city program\u2019, a program without any specific industry focus, very broad and open.\u201d
The first batch is going to start in September 2017 and applications should start soon. If you get selected, you\u2019ll receive $120,000 in funding and Techstars will take a 6 percent stake in your company. The good thing is that this program isn\u2019t restricted to French startups. Any entrepreneur who wants to spend some time in Paris can apply. I hope foreign entrepreneurs will make the move as well.
Techstars has many different programs. The most famous ones are probably the city programs in NYC, Boulder, Boston and more. The company also partners with big companies, such as Disney, Barclays and more to run accelerators for them \u2014 those programs also create a healthy revenue stream.
But Techstars is working with big companies in France as well. Partech made some introductions for Techstars, and it turns out that Air Liquide, Fran\u00e7aise des Jeux, Groupama, Renault and Total are all Techstars Paris partners.
This is exactly what you\u2019d expect from this kind of partnerships. Those five companies are giving money and expect to get an early look at some innovative startups. \u201cThey\u2019re also providing mentorship, introductions with industry experts, market data and the ability to run tests with those partners,\u201d Luyt said.
There will only be one batch per year. If your startup isn\u2019t at the right stage for the end of 2017, maybe you should consider another Techstars program as they don\u2019t happen at the same time.
\u201cAfter the batch, we develop another program for Techstars Paris partners, for their teams and employees,\u201d Luyt said. \u201cThe first program is scheduled for the first quarter of 2018.\u201d This way, the good old French giants like Total and Renault will get to know how startups actually work.
The launch of Techstars Paris is a good sign for the French tech ecosystem. There are already many, many different accelerators in France, but the Techstars brand is stronger than many of those.
As for the business model, big public companies really want to spend money on all things startups. I\u2019m not sure it\u2019s going to add a ton of value for startups, but at least it makes the program possible.
I personally can\u2019t wait to see the first batch of startups this fall. Maybe the reputation of Techstars will turn this program into an interesting signal for young startups in France.<\/p>\n