1.10 Techstars Founder David Cohen
Mr. David Cohen joins me today. David is a serial tech entrepreneur, advisor, investor – and founded Techstars, an accelerator based in Boulder. If you’re not familiar with accelerators, here’s the gist. Imagine You’re a new startup company and need some juice to get going. you apply for and join an accelerator for their 90-day intensive program. Usually 90 days. Includes other companies in your cohort and you’re put through a rigorous curriculum and deep mentorship. At the end, the accelerator invites investors in for what they call a demo day. Many get funded on the spot (or in the days immediately following) In exchange for all this, you give the accelerator an equity stake in the business. Many of these accelerators also give you cash at the end of the program as well. Techstars gives its startups $120k after demo day. Good luck getting accepted though—the acceptance rate is lower than most ivy league undergrad programs. Techstars is considered one of the largest and most prominent accelerators in the world. Depending on how exactly you measure accelerators, they’re considered as high as number 2. They’re huge and awesome and have helped literally thousands of companies go to market. According to their website, 2157 companies that have been funded with over $9b in capital. Cool stuff. Oh, and by the way, a previous guest Brad Feld is one of the founders of Techstars with David. So is our governor here in Colorado: Jared Polis. Also a Techstars founder. I tend to find entrepreneurs and venture capitalists like David to have a unique perspective. Success, failure, risk, reward, downside, upside, wasting money, making millions – it’s the daily world they swim in. Failure isn’t some distant villain, it’s a story they’re trying to avoid day-in and day-out, especially in today’s economic environment. David’s is a discussion I put into the category we call “the head.” Welcome to the Botchcast, Mr. David Cohen.