menu

TechStar NYC’s Demo Day: Presenting 11 Promising Startups

TechStar NYC’s Demo Day: Presenting 11 Promising Startups
technology

The successful startup accelerator program stages an inaugural class graduation for their New York outpost.

Parneet Gosal
  • 18 april 2011

A crowd of venture capitalists, investors and startup founders gathered in New York City for the better part of a day last week. The occasion – the graduation of the TechStar Network’s inaugural New York class, otherwise known as Demo Day. TechStars is the successful startup accelerator program founded by David Cohen in Boulder, Colarado in 2006. Since then, the Network has opened programs in Seattle, Boston and most recently New York City. Each program has a simple premise. Put a small class of entrepreneurs through their paces for three months, giving them access to a stable of highly successful entrepreneurs – often network members themselves – as mentors, and access to future investors. Startup selection is based as much on the quality of the founders as the underlying business model. The founders use the three month class to flesh out a new idea and build a prototype for early stage startups looking for seed funding, refine an existing model for more mature startups, and benefit from unprecedented access to a community of expert mentors. This mentorship-driven approach seems to have worked well – of the 39 startups that had undergone the program as of May 2010, 28 were active, 5 had been acquired for more than $2Million and 5 had failed. The failure rate of 13% seems to be about half that of Y Combinator. This means a glut of applicants for each class – 600 startups applied for the inaugural New York class, 11 were selected.

At New York’s inaugural class graduation, we watched as founders of highly successful startups came on stage to introduce their respective mentee and startup CEOs. Mentors included Foursquare’s Dennis Crowley, Tumblr’s David Karp, Yipit’s Vinicius Vacanti and other influential staples of the startup community. Watching them was an audience of more than 700 people that read like a Who’s Who of the VC and angel community, including Union Square Ventures, First Round Capital, IA Venture Partners and New Markets Venture Partners. Overlaying the excitement was an oft-repeated repudiation of the tech bubble or “froth” in the market by many VCs. Not surprisingly, little was said about the male/female ratio in high-risk entrepreneurship – only 2 of the 11 startup CEOs were women.

Stay tuned for our in-depth coverage of 4 especially promising startups in upcoming posts.

TechStars

Trending

Machine Printer Uses Coffee Drips To Create Intricate Portraits

Arts & Culture
Technology Yesterday

Why Nest Doesn't Get The Holidays

PSFK founder reacts to the damaging effects of poor email marketing

Children Yesterday

Robots Could Be Joining Dubai’s Police Force In 2017

The real-life RoboCops can salute, shake hands and collect traffic fines

Trending

Get PSFK's Related Report: Future of Automotive

See All
Travel Yesterday

Parka Hides And Charges Portable Devices

Bolt is a jacket that lets people carry and charge their various electronics without the need for an outlet

Food Yesterday

Yelp's New 'Yelfie' Feature Lets Diners Take Selfies

The update is designed to encourage people to attach a selfie when they share their experiences

Design & Architecture Yesterday

Build Your Own Savory Cheese Advent Calendar

A British food blogger has created a guide to building a different kind of holiday surprise

Fitness & Sport Yesterday

Floating Gym Concept In Paris Is Powered By Your Workout

The proposed design from Carlo Ratti Associati lets passengers ride a stationary bike as they travel through Paris along the Seine River

PSFK LABS REPORT

Future Of Retail 2017
Transformation Strategies For Customer-First Business
NEW

PSFK Op-Ed Yesterday

Customer Service Expert: Why Offline Retail Has Better Data Than Online Retail

Healey Cypher, Founder and CEO of Oak Labs, shares why we should be thinking about the physical store as an e-commerce site

PSFK Labs december 1, 2016

Retail Spotlight: Home Depot Reimagines How Employees Conduct Tasks

The home improvement retailer puts the customer first by initiating local fulfillment centers and simplifying freight-to-shelf inventory management

Syndicated Yesterday

What Does The Future Of Android Look Like In A World With The Pixel?

Google’s decision to make its own phone might have looked like a blow to the likes of Samsung but the reality is much more interesting

Fashion Yesterday

Alexander McQueen Designs A 3D-Printed Umbrella

3D-printed fashion arrives in time for the winter season

Work Yesterday

Why Training Associates To Be Advocates Is Key To Retail Success

In our Future of Retail 2017 report, PSFK Labs discusses strategies to prioritize customer service, which begins with associate advocates

Media & Publishing Yesterday

Netflix Creates Binge Candle To Celebrate A New Season Of Gilmore Girls

The streaming service developed a special layered candle that creates candle with episode-specific smells

PSFK LABS REPORT

Future Of Work
Cultivating The Next Generation Of Leaders
NEW

Automotive Yesterday

Audi And LEGO Exhibit Autonomous Vehicle Installation

The installation at Design Miami explores the 25th hour, which represents bonus productive work or play time

Gaming & Play Yesterday

This Game Lets You Be A Pilot In The Drone Racing League

DRL Racing Simulator recreates actual courses in a virtual environment

Travel december 1, 2016

Hotel Chain Is Giving Away Its Not-So-Super Hotel Art At Art Basel

A lesson in how to advertise a kitschy-to-cool redesign in the middle of Miami Art Week

No search results found.