TechStars, a startup incubator that offers mentorship along with a relatively modest amount of seed funding, has begun accepting applications for the third year of its program. Interested companies can apply here between January 19 and March 21, 2009, with winners selected by March 28. The TechStars team will select around ten companies to participate in the program, which takes place in Boulder, Colorado and culminates in a pair of Demo Days in Boulder and Mountain View, California during which each company will present their pitches to a room full of potential investors.

TechStars had a very successful 2008, during which a number of its companies were acquired: in August, lifestreaming startup SocialThing was acquired by AOL, followed a month later by Automattic’s acquisition of enhanced commenting system Intense Debate. A few of its companies have also been successful at raising money since the economic downturn, including artisan-food market Foodzie, which closed a round in December, and group dating site Ignighter, which raised $1.2 million in October.

Other startup incubators include DreamIt Ventures and the well-known Y Combinator program, which was founded in 2005 and now has funded well over 100 companies.