Friday, March 20, 2009

TechStars application deadline falls on Saturday

By Galen Moore

Calling all bootstrappable businesses: the deadline for applications to Boston’s TechStars program falls Saturday at midnight.

The incubator program, originally established in Boulder, Colo., has already seen 400 applications for up to 24 slots in its 2009 program, with many more expected at the last minute, said Boston executive director Shawn Broderick. Last month, TechStars LLC announced it would open a Boston program for eight to 12 companies.

Broderick said TechStars is looking for companies that aren’t capital intensive, and that can put together an alpha or a beta version of their product within the program’s three-month time frame.

“If you need to build out a data center with 15,000 computers, our $15,000 isn’t going to help,” he said. “If your business is going to live or die based on whether you get a deal done with Verizon, TechStars is probably not right for you.”

Historically, most TechStars companies have been consumer-facing web 2.0-type software developers, Broderick said. However, the applications he’s seen so far have included a lot of software-as-a-service and health-care IT business ideas.

The vetting process begins immediately after the Saturday deadline, and applicants should know their status by April 15 at the latest, Broderick said. Applications are available at techstars.org.

Each TechStars participant receives an investment of up to $18,000, access to a growing network of mentors and workspace in the Central Square office space TechStars moved into earlier this month.

Broderick was a colleague of TechStars founder Brad Feld at Feld Technologies Inc., the Boston-based software and network integration company Feld founded in 1987. Feld Technologies was acquired by Ameridata Technologies in 1993. In addition to his responsibilities at TechStars, he’ll continue at the helm of TrustPlus Inc., a web-based user rating aggregator he founded in 2007. His first startup, Genetic Anomalies Inc., founded in 1999, was acquired in 1999 by California game developer THQ Inc.