Family Matters: The uber-competitive world of Techstars’ global network

by Colin Morris
October 9, 2015

Techstars alumni and staff at a recent demo day. Courtesy photo.
 
Startup Week isn’t easy on Amos Schwartzfarb. As the new managing director of Techstars Austin, he spends almost every hour of the day being dogged by entrepreneurs applying to his program for a career-changing shot at mentorship and capital for their startups.

 

He’s getting even more attention than usual lately because applications are now open for Techstars Austin’s Spring 2016 accelerator program until November 18, and he’s hosting open houses and office hours to meet founders and answer their questions about the program.
 
It’s not hard to understand the appeal for founders: Austin is one of 12 cities with a Techstars accelerator, spanning from San Diego to Berlin and comprising a network of 1,500 well-connected mentors. Techstars has also funded some 500 companies to the tune of about $1.1 billion and counting.
 
With only a handful of companies selected for each accelerator program and only a few programs per year in each city, the competition is fierce. It’s not unusual for Techstars to receive 1,000 applications for a session, but Techstars Austin only plans to accept around 10 companies for Spring 2016. So far, about 150 have applied.
 
That all adds up to a lot of companies knocking on Schwartzfarb’s door. He spends a lot of time answering the same basic questions from would-be applicants eager to pitch their product, and patiently explaining that he’s heard their idea before.
 
Not that that’s a bad thing.
 
“The best ideas are usually iterations anyway,” he said. “Uber was an iteration on an idea. Ideas are like plot lines, so there’s nothing wrong with not having a totally original idea. Team is the most important thing we look for."

 

Rob Taylor (pictured left), who was a Techstars Austin mentor from its inception two years ago until joining an alumni company called Pivot Freight as its CEO, said this is a particularly good time to get your company into an accelerator.
 
“We’re in an entrepreneur-friendly market cycle,” he said. “I'm a big fan of being opportunistic. If you see the merits of an intensive, mentor-driven program for your company, then it's a good time to take advantage.”
 
When we met at 9 a.m. Wednesday morning, Schwartzfarb was energetic but a little bleary-eyed. Earlier in the week, he had to book an extra open house session at 9 a.m. to accommodate overflow from the 10 a.m. session, whose RSVPs nearly tripled the capacity of the room. After the back-to-back sessions, Schwartzfarb held office hours to meet with 22 companies one-on-one for the rest of the day.
 
But he wouldn’t have it any other way.
 
“I love this. This is fun,” he said. “I had even more energy at the end of yesterday than I did at the beginning.”
 
Have a tip for us or know of a company that deserves coverage? Email us via [email protected].

Austin startup guides

LOCAL GUIDE
Best Companies to Work for in Austin
LOCAL GUIDE
Coolest Tech Offices in Austin
LOCAL GUIDE
Best Perks at Austin Tech Companies
LOCAL GUIDE
Women in Austin Tech