Young startups in the Big Apple are about to get a boost from Colorado-based startup incubator TechStars.
New York City will join Boulder, Colo., Seattle, and Boston as the fourth city to play host to the group’s mentorship and seed stage investment program.
TechStars is now accepting applications for the 2011 New York program, which starts in January. The three month boot camp seeds participating startups with capital (up to $18,000), provides shared office space, and connects founders with established tech mentors. To help fund future programs, TechStars takes a 6% equity stake in company.
“TechStars is built on a mentorship-driven approach and in New York, the biggest city in the world, there are lots of amazing mentors,” according to an announcement on the TechStars web site.
TechStars founder and CEO David Cohen is moving to the city to oversee the new program, while seed stage investor David Tisch is slated to manage.
Over the years, the program has yeilded some impressive results. TechStars graduate Socialthing, a social site aggregation tool, was acquired by AOL in 2008, and mass emailing service SendGrid raised more than $5 million in VC funding in 2009.
The application deadline for the 2011 NYC program is November 21.