Did you know that Techstars and UP Global have had a long standing relationship that stretches back all the way to 2007? In fact, the very idea for Startup Weekend was born in the Techstars basement in Boulder, Colorado, and was created as a community event for the inaugural Techstars class to get to know each other better.
Everything both organizations have done centers on a shared vision of empowering entrepreneurs worldwide. Today, Techstars announced that this vision is about to get a whole lot bigger, because they’ve officially acquired UP Global, including Startup Weekend, Startup Week, Startup Next, and Startup Digest.
“Today’s news is a major step in helping us further our mission for building the best global ecosystem for entrepreneurs to bring new technologies to market. Together, we can accelerate the pace of innovation by strengthening the path for entrepreneurs, providing better support for entrepreneurial communities, and helping to grow the first worldwide entrepreneurial ecosystem,” says David Cohen, Managing Partner at Techstars.
As it stands all UP Global programs, while becoming part of the Techstars family, will still remain open and independent in their execution at a community level. The Google for Entrepreneurs-Startup Week- Startup Next partnership is in no danger of disintegrating either: Google remains as committed as ever to both organizations.
There is one thing that will be changing about Startup Next, UP Global’s pre-accelerator program, though I think most people will find it a pleasurable change. Effective immediately, the fees that were previously associated with Startup Next will be eliminated.
“I have been involved with both UP Global and Techstars from the beginning and witnessed firsthand how their efforts continue to build and strengthen the worldwide entrepreneurial community,” says Techstars cofounder Brad Feld. “These two companies come from the same DNA so it makes sense that they’re joining forces to accelerate the pace of innovation through community-focused, entrepreneurial-led business creation.”
In terms of personnel, Marc Nager will stay rooted in his position as leader as Chief of Community at UP. Beyond that, the entire team at UP Global will be joining Techstars and will continue to help maintain a focus on managing and expanding the existing accelerator programs.
“We are committed to the lifelong impact that entrepreneurs have on the world, no matter where they choose to live,” writes David Brown in the blog post. “We believe this merger is great news for entrepreneurs everywhere. Together, we will leverage each other’s areas of expertise and combine resources to provide more sustainable support for communities and the entrepreneurs within those communities.”
The team at Techstars wants to wish a warm welcome to all of the UP Global Community. As they assure me, not only will Techstars remain the same quality network and program we have come to know and love, they’ll only get stronger from here.
All of us at Tech.Co wish you congratulations and the best of luck in the future!