TechStars is an incubator program that is touted as #1 in the world. They have a lower acceptance rate than Harvard. The program focuses on digital startups but Benecure was lucky enough to be considered for contention/acceptance.
We had applied for the NYC program and were selected as one of the top early applicants and invited to “TechStars for a day”. We spent the day interacting with alums, mentors and learning more about the program. It was interesting to see the diverse pool of applicants. There were teams from as far as Europe and South America that had flown in for the event.
We were interviewed by TechStars NYC a few weeks later via Skype. (At the time I was meeting hospitals/investors in Asia) Unfortunately, we didn’t make it since some of our team members were still enroute to graduation at the time.
TAKE 2. – Chicago.
In 2013, Excelerate, a incubator program in Chicago, announced it was converting to TechStars Chicago. Just as in NYC, we made the cut and were interviewed. This time around, we were ready and got some amazing feedback, including introductions to a fantastic mentor who has worked in an industry similar to us. Even with the great feedback, I knew we were always a long shot for the program due to our hardware/healthcare setup and their preference for digital startups.
Overall, it was an interesting experience being vetted with firms that have revenues in the 6 figures and I would highly encourage other folks who are on the fence to consider the program.