Boulder, Colorado-based startup incubator TechStars has decided to open a second office in Boston where it will run a concurrent mentorship program starting this summer.
The Boston program – which will probably be located in Cambridge – will accept the same number of companies (10) as the Boulder program, effectively doubling the number of TechStars companies admitted each year. Assuming application rates don’t rise dramatically, this will make it easier for companies to get into the program – especially if they’re willing to relocate to either city.
Co-founder David Cohen says that admission rates are about on par with last year, despite the recession. With the deadline of March 21st still over a month away, TechStars has already received 100 applications for its Boulder program. Last year, 400 applications were collected in total. Those who apply after today will get the chance to state a preference for either location, and those who have already applied to the Boulder program can contact TechStars to switch their preference to Boston.
It would seem TechStars is intentionally trying to fill the mentorship void left by Y Combinator when that incubator announced its departure from Boston in January. However, Cohen says that TechStar’s expansion into Boston has been in the works for about six months now, so Y Combinator’s decision didn’t play a role.
TechStars plans to run its Boston and Boulder programs mostly separately, even though they are going to be held at roughly the same times. About 5-6 investors have contributed to each program, and Boston has its own set of east coast mentors that includes Colin Angle, Don Dodge, Eran Egozy, and Chris Heidelberger. Boston entrepreneur Shawn Broderick will be in charge of managing the new branch.
The programs will mix, however, at the end of both sessions when the best from each are combined and given the opportunity to present to investors in Silicon Valley.