At the center of one of the country’s most diverse and thriving tech ecosystems, this Techstars program focuses on innovations that make the world better. In 2021 this program hopes to run in-person, dependent on COVID-19 conditions.
Los Angeles Techstars accelerators have one goal: to help entrepreneurs succeed. During each three-month program, they surround companies with the best mentors and an unrivaled network of corporate partners, investors, and alumni.
They provide funding and fundraising opportunities, workshops, and curated resources, not to mention countless moments where you can learn from your peers. It’s a proven model that’s helped build thousands of successful companies, all over the world.
Month by Month: The 3 Months of a Techstars Accelerator
- Month One: Grow Your Network- During month one, the 10 companies in each program typically meet around 100 mentors from the Techstars network, each of whom are super connected and experienced in their respective fields. After these initial meetings, fondly known as “Mentor Madness,” some programs match founders with three to five who will act as their lead mentors, and a pseudo Board of Advisors, throughout the program. When there’s a particularly good fit, mentors will often continue to work with the companies after the program ends. Mentors help with many areas of the business that may need support, including — but not limited to:
- Product development;
- Hiring and firing;
- Company culture;
- Unit economics;
- Business development;
- Customer discovery;
- Go to market strategy;
- Month Two: Execute- Month two is time to take all those learnings from month one and put them into practice. Working with the managing director and program manager, founders go deeper with their lead mentors, gain traction, and hit milestones — whether that’s a prototype, building out the next phase of a product, getting a first customer, etc. During this month, founders focus on identifying their most important KPIs (Key Performance Indicators) and achieving them. If there’s a corporate partner for the program, this month may even be the time to prepare for a proof of concept.
- Month Three: Fundraising Strategy & Demo Day- In month three, founders go deep on telling their story. This is crucial to fundraising and Demo Day preparation. Founders work with their mentors, managing directors, and program managers to refine their pitch, develop and design their pitch deck for Demo Day, and prepare investor collateral.
What kind of activities can you expect? While each program is different, here are a few that pretty much everyone gets:
- Office hours with guest mentors and investors;
- Workshops and masterclasses delivered by industry experts on specific topics like hiring, marketing, tech, product, etc.
- Founder stories: serial entrepreneurs come in and share how they built their company. The best part is that it’s more than what you read online – in this context, founders speak honestly about what really went down.
- Intensive pitch practice, in preparation for Demo Day and fundraising;
- Plus, anything else the program team thinks would benefit your experience and help you #DoMoreFaster — many activities are curated to the needs of the founders and companies in each program, meaning that no program is exactly the same twice.