The U.S-based global startup accelerator Techstars announced a collaboration with Audi Denkwerkstatt to launch a pre-accelerator program. The partners aim to support innovative founders in the digitalization and mobility segment. On August 1, 2022, the companies announced the partnership. The recent program marks the first ever pre-accelerator in Europe, the Middle East, and Africa (EMEA) for Techstars.
Purpose of Techstars and Audi partnership
The vision of the Techstars-Audi partnership is to support innovation in the mobility segment. Under the program, individual founders with an innovative idea or early-stage company will receive valuable startup education, mentorship, and community building. Further, Techstars will provide the founders access to its worldwide network of entrepreneurs, mentors, investors, and partners.
Meanwhile, Audi intends to support the selected companies with its technology and mobility expertise across various business units.
The participants in the program get to polish their entrepreneurial skills, seek connections with fellow founders for possible collaborations, and receive a better understanding of their target audience.
Previous Techstars global Pre-Accelerator Programs, formerly known as Founder Catalyst, resulted in fifteen hundred mentor connections, ten product launches, more than one million dollars in funding, and dozens of active investor conversations. Besides, the global investment firm also accepted seven participants after completing the program.
About the Program
From January to March 2023, Techstars and Audi have scheduled the program. The pre-accelerator program is in a hybrid mode, i.e. in-person and virtual format.
Additionally, each founder participating in the program will receive a stipend of EUR 2000 per month. The founders will continue to receive the said stipend for three months.
All early-stage founders dabbling in mobility, health, and community can apply now through requisite websites. However, the partners are likely to prioritize early applicants. Applications have already begun pouring in. Meanwhile, the closing date is November 1, 2022.
What Techstars official has to say
Martin Schilling, managing director of Techstars, said, “Techstars partners with organizations like Audi to provide an opportunity to early-stage founders through a hands-on mentorship-driven environment while also offering corporate partners access to new technologies and ways of approaching industry-specific challenges. Partnerships like this one we have with Audio help to build powerful local startup ecosystems in markets like Germany and around the world.”
What the Audi official has to say
“Audi Denkwerkstatt is driving innovation for digital business models at Audi. Our goal is to develop customer-focused innovations quickly and efficiently and then get them ready for the market. Having Techstars on our side as a strong partner, we’re opening ourselves up to an outside innovator community and evening more exciting business ideas. At the same time, we’re optimizing the interface between our corporation and the startup community,” said Tim Miksche, head of Audi Denkwerkstatt.
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