Techstars Foundation Accelerates Equity
In 2015, I helped get the Techstars Foundation going. The Techstars Foundation focuses on gifts of both cash and network support for organizations that improve access to entrepreneurship for underrepresented entrepreneurs. So far, we’ve given around $1.1M in grants, and we hope that the active help from the Techstars network has been an even more powerful gift.
Based on feedback from the dozens of organizations we’ve supported to date, we’ve recently launched Accelerate Equity which is a new way to call on the power of the Techstars network to fuel a more inclusive entrepreneurial ecosystem. The way this works is that anyone who wants to make a significant lead grant to a non-profit that is focused on access to entrepreneurship can get three benefits by making their grant via Techstars foundation:
- First, we promote their lead donation to our network and ask our mentors, alumni, partners, and community leaders to add to the lead donation.
- Once all of the matching donations have come in from the network, we add an additional 5% to the total commitment.
- Finally, if the total raised is greater than $50,000, Techstars accelerates that non-profit in a similar way that it has accelerated 2,000+ for profit organizations which have created tens of billions of dollars of enterperise value to date.
Here’s a specific example: