Starting in August, a dozen startups will work out of Capital Factory for three months fueled by the traditional TechStars perks, including $18,000 in seed funding and a $100,000 convertible note.
It’s not a surprise that TechStars chose Austin as its next destination. It’s the home of the SXSW festival and the second city to get lightning-speed Internet with Google Fiber. As we’ve seen at our Austin events, the city is simmering with startup activity.
“TechStars exists to put the best mentors and the best entrepreneurs together in the best startup communities so Austin is a natural next stop for us,” wrote founder David Cohen.
This is the seventh city for TechStars, which added Chicago and London just this February. TechStars also runs the nearby TechStars Cloud program in San Antonio. The managing director of TechStars Cloud, Jason Seats, will be moving over to Austin to manage the new program.
Applications for TechStars Austin open today – apply here.