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

Join Pat Riley, Managing Director of the Global Accelerator Network, along with several of their accelerators at the biggest startup conference in the U.S. everywhereelse.co The Startup Conference

Houston Startup WhimseyBox To Take Up Residence At Excelerate Labs Chicago

Alicia DiRago, a Houston based entrepreneur is packing her bags for the windy city. Thank goodness it’s the spring and soon to be the summer as we’re not sure how well the climate change would effect a Texan. DiRago’s startup is Whimseybox. You’re probably thinking it’s another subscription box club. You are absolutely right, however the subscription box club keeps taking on different spins, this time the theme is crafts.

Every month Whimseybox (well Alicia) sends out a box of great craft samples. The box costs $15. Now she is careful to mention that the boxes aren’t “kits” in other words there are no instructions, just the samples and your imagination.

Now if you aren’t as creative as you’d like to be DiRago posts craft ideas on Whimseybox’s blog and at least 4 full tutorials every month in the project gallery.

But now it’s time for DiRago to focus on business and take Whimseybox to the next level. Admittedly she can’t send out as many boxes as she would like. Hopefully after her experience at the Excelerate Lab in Chicago she’ll have not only some capital but more know how to turn this great idea around.

DiRago and Whimseybox will join 9 other companies in this 2012 class. She will give up a small equity stake (last year it was 6%) in exchange for cash, working space, and mentorship. She will also get a convertible note from Chicago’s New World Ventures (last year candidates got a $50,000 note).

All of this will culminate with a DEMO day on August 29th where all the participants will show off their startups to Chicago’s thriving tech community.

Excelerate is moving this year to the swanky new 1871 startup center.

Linkage:

Find out more about Whimseybox here

Find out more about Excelerate Lab here

Nibletz is the voice of startups everywhere else, check out these stories

We’re on a nationwide startup roadtrip, check this out please

Source: ChicagoBusiness.com