Interesting to see their stats. 8 out of 10 from last summer are funded. Of course, the proof will be when and if any of them have an exit (and how good the founders make out in the exit).
Some offhand differences I see from YC are:
-3 weekly events with TS versus 1-3 with YC.
- TS is more of an incubator. They provide office space. I tend to think this isn't good-- creates less of a sense of ownership for the founders, IMO.
- Boulder, CO ... Not the best hub in the world. On the surface it doesn't seem to be impeding funding, but what about acquisition?
- TS companies have less competition... ~300 applications, 10 accepted.
- TS has a LOT more mentors, on the surface... No idea how engaged they are.
- And the biggie-- The YC/PG brand clobbers TechStars...
Boulder looks like a nice place to live, too. Perhaps the sort of place you might even be able to live in over 30 even if you don't become fabulously wealthy. I'm actually becoming sort of curious about Colorado... living here in Innsbruck, I realized that it's not the cold and the snow that bother me, it's the gray and the rain so prevalent in the western half of my home state of Oregon. I can't stand that weather.
I guess all this is pretty tangential to startups, but quality of life is extremely important for me.
I lived in Golden (where my first house design was built) for a while, and you simply can't beat the area there for outdoor activities. I was in amazing shape, rode my bike along the Continental divide, got a below freezing outfit to hit the road as soon as the snow was plowed in the winter, amazing skiing up Interstate 70. But if you're looking for fine art, symphony, theater, opera, great dining, etc, this is not a good place to be. For a shorter period though - a great experience.
The working in designated office space requirement is a big negative to me. I see this as they either 1) dont really understand what kind of work environment hackers want/need 2) dont trust the groups that they are funding enough to allow them to work alone without supervision. They really should consider making the office space an option for those who want it.
Perhaps there are some entrepreneurs that prefer a dedicated office environment as a way to focus and get things done. You may not like the office environment, but the same doesn't hold true for all entrepreneurs.
Please name a successful startup that began its earliest stages in an office. Google, Excite, Yahoo, Dell, Msft, Apple? They all started in dorms/garages/apartments.
Not saying its not possible or some dont prefer it, but the majority of successful ones do not. That is just historical fact.
But its a moot point as it sounds like (according to rms) the group office space is indeed optional with Techstars..
Good points webwright. I have had a few discussions with entrepreneurs in Colorado and they are collectively trying to make Colorado more of a hub for startup activity. Holding investor events and such. Im in Columbus, Ohio so I know the feeling of being on the outside looking in to places like Boston, New York and the Valley.
Spoke with a friend who helped Brad Feld start Techstars. Although I still see YC as the best of all these a seed funds, he said TS has three differences:
1) Not PG rigid. He characterized PG as treating investors like the devil in the early stage. They think otherwise, bringing more mentors from the investment arena.
2) laid back location- Although silicon valley is a great place, they value creative environment over competitive atmosphere. Boulder is the place for that according to TS.
3) Hands-on mentors- YC brings them in and they talk, but TS brings them in and then you still have access later on. He asked, how many times have YC founders talked to Joe Kraus after he came and talked.
Both PG and Brad Feld (Techstars creator) have their own blogs and their college groupies (and then some), but I think it depends on the experience you want.
I wouldn't want to accuse Feld of having knowingly said anything as false as (1) and (3) unless I was sure he actually did, but they are in fact way off.
We're very closely connected to follow-on investors.
As anyone who's been funded by YC can tell you, I'm thinking from the beginning about how to pitch them to later stage investors. Often this starts in the interview. There is a stream of investors coming through here. We just don't advertise it, because we don't need to.
As for (3), he picked a really bad example. I hesitate to drag Joe Kraus into this by name, because the help he gives the startups is something he does voluntarily. But the fact is that he is extremely generous with his time. He is meeting with 2 YC startups this week. This is the rule with the speakers, not the exception.
This isn't the first time I've noticed TS trying to portray YC as just us, while TS is some magical stone soup of mentors. It's complete crap, as anyone who has been funded by YC can attest.
They should stick to (2). In the being-in-Boulder department they do actually have us beat.
Wow. Thanks PG, it's good to hear your response on this matter. I'll send this response off to my friend and tell him to stop telling ppl this and/or tell Brad Feld to as well.
>He characterized PG as treating investors like the devil in the early stage. They think otherwise, bringing more mentors from the investment arena.
PG has said on this forum that it is big negative that TS is so intimately connected to venture capitalists. TS, of course, sees it as exactly the opposite.
> If you apply by March 3rd, you'll be invited to TechStars For A Day, which gives you a chance to discuss your application with us personally.
If they give any feedback on applications then that will be very useful. This would be something that YC doesn't seem to have the time to do if you're not a finalist.
Some offhand differences I see from YC are:
-3 weekly events with TS versus 1-3 with YC. - TS is more of an incubator. They provide office space. I tend to think this isn't good-- creates less of a sense of ownership for the founders, IMO. - Boulder, CO ... Not the best hub in the world. On the surface it doesn't seem to be impeding funding, but what about acquisition? - TS companies have less competition... ~300 applications, 10 accepted. - TS has a LOT more mentors, on the surface... No idea how engaged they are. - And the biggie-- The YC/PG brand clobbers TechStars...