The world renowned start-up accelerator TechStars is to launch a programme in London, its first outside the US, the entrepreneurs behind the venture fund announced today. HarGamma Ventures has been one of the Springboard’s investors and would now continue the cooperation by investing in TechStars London.
In a meeting at No 10, TechStars CEO David Cohen and General Partner Mark Solon confirmed TechStars are expanding their network outside of the US by merging with Springboard, co-founded by Jon Bradford, to launch in London the globally renowned TechStars mentorship-driven investment programme. Launching in March, TechStars London is expected to support up to 20 start-ups annually across the UK, Europe and further afield through an investment of €85,000, being €15,000 of seed funding and an optional €70,000 convertible debt note for each company.
TechStars already have a strong track record working with European teams, with their alumni including Memrise (UK), GrabCAD (Estonian) and docTrackr (France) who have cumulatively raised €16m of investment funds. (more…)