Today in a blog post penned by Techstars founder David Cohen, he announced that Excelerate Labs, the startup accelerator located at 1871 has become Techstars Chicago.
Excelerate Labs was founded by Troy Henikoff and Sam Yagan (OKCupid, SparkNotes and Match.com) in partnership with Sandbox Industries and New World Ventures.
We’ve covered several of the Excelerate Labs startups and have managed to make a few trips to 1871 over the last year. Their classes work hard, play hard and innovate. It’s one of the finest accelerators in the country, which has prompted Cohen and Brad Feld to invest in multiple Excelerate Labs graduates including: SpotHero, GiveForward and Tap.Me
Techstars has always started their programs from scratch. At one point they began endorsing a number of accelerators that applied their same methodology. That network was once known as the Techstars Network and has since spun out of the Techstars brand and into “Global Accelerator Network”.
For the first time ever Cohen is now turning to an existing accelerator, Excelerate Labs, to open Techstars Chicago.
“We were so impressed with what they’ve built that we asked them to join forces with us and turn Excelerate Labs into TechStars Chicago. TechStars and Excelerate have always been kindred spirits: we both put entrepreneurs first and believe in the power of mentorship.” Cohen said on the Techstars blog.
Troy Henikoff says, “We are excited to combine Excelerate’s deep roots in Chicago with TechStars’ vast alumni and mentor networks. TechStars Chicago will be an even stronger force in Chicago and will add incredible firepower to the TechStars platform.”
“I congratulate Excelerate Labs and I am pleased that TechStars has identified Chicago as one of the best places to start a technology business. This advancement is a huge step forward for the city’s technology economy and will fit hand-in-glove with the other efforts being made to promote entrepreneurship and create new jobs around Chicago.” – Mayor Rahm Emanuel
Applications for Techstars Chicago are open now. The first early bird deadline is March 1st, the final deadline is March 15th. The program will begin May 29th and end on August 29th. To apply click here