The US-founded global investment firm and accelerator program Techstars is setting up shop at Sydney’s Tech Central in a major boost for the local startup sector
Techstars has invested in more than 3,000 early-stage startups over its 16-year existence and is one of the largest pre-seed investors in the world. In Sydney it will provide access to capital, one-on-one mentorship and programming for early-stage entrepreneurs at Tech Central.
The startups Techstars has backed have gone on to raise a combined US$23.7 billion in capital and now have a combined market capitalisation of around US$100 billion.
Its accelerator alumni include Chainalysis, ClassPass, SendGrid and Zipline.
NSW enterprise, investment and trade minister Alister Henskens said securing Techstars would cement Tech Central as a global innovation hub, with more support for global and local accelerators and incubators to follow later in the year.
“Already home to global powerhouses such as Atlassian, Canva, ROKT and Safety Culture, Tech Central will support the growth of next generation cutting-edge companies with the addition of Techstars, one of the largest pre-seed investors in the world,” he said.
“Techstars graduates include 20 $1B+ companies, startups that went on to raise millions of dollars, employ thousands of people and list publicly on stock exchanges around the world.
“This is a major coup for Tech Central and proves that the NSW Liberal and Nationals Government’s focus on growing the economy is attracting global companies and turbocharging our innovation ecosystem.”
Applications for the Techstars Tech Central Sydney Accelerator are now open, with a focus on seed and early-stage founders who are building businesses across AI, fintech, advanced manufacturing, cloud computing, robotics, cyber security, quantum computing, creative tech, and climate tech.
Techstars CEO Mäelle Gavet said the company believes anyone, anywhere can be a world-changing entrepreneur.
“From our location in Tech Central, founders will have the opportunity to participate in an accelerator program that will build upon their entrepreneurial skills, help them find product market fit, and uncover innovative solutions that can make lasting impact across the community,” he said.
For details on the Techstars Accelerator Program and to apply, go to techstars.com/accelerators/tech-central-sydney-nsw.
Applications close on April 5, with the accelerator kicking off in July.