TechStars is joining forces with the Ewing Marion Kauffman Foundation to help simplify access to the growing number of accelerator programs. As part of the partnership, the Kauffman Foundation will provide TechStars with $200,000 funding to build software that can be utilized by accelerator programs.
Specifically, these funds will be used to help build an application system that can be used across industries, not just within the TechStars Network. The aim of the system will be to ease the application process, allowing entrepreneurs to fill out one form to apply to multiple participating programs, rather than have to repeat the process for each organization they apply to.
The new system will also allow the Kauffman Foundation and other researchers to analyze the data surrounding these programs. This will help understand the demand for accelerators, the funding opportunities, as well as the business results for participating companies over time.
"The Kauffman Foundation is supporting the seed accelerator movement that TechStars helped pioneer, with the goal of making it easier for entrepreneurs to gain access to mentorship from the best and brightest entrepreneurs and investors in their communities," says TechStars CEO David Cohen.
The joint efforts grow out of the White House's Startup America Partnership, an alliance that aims to boost high-growth companies and, by extension, boost the U.S. economy.