In partnership with GO Virginia, 757 Accelerate and 757 Angels, Techstars will provide resources and support to build and strengthen the regional startup community
HAMPTON ROADS, Va. – October 27, 2020 – Today, GoVirginia, 757 Accelerate and 757 Angels announced plans to partner with Techstars, the worldwide network that helps entrepreneurs succeed, on a one-year program to further develop the Hampton Roads entrepreneurial community.
The objectives of this engagement are to assess the current state of entrepreneurship in the Hampton Roads region, drive more engagement between and around local founders, and to nurture a larger, self-sustaining, resilient, and inclusive environment for entrepreneurs in the region. A strong startup ecosystem with the right resources and support produces better entrepreneurial outcomes, creating an engine for innovation, growth, and job creation.
“Startup communities exist for the purpose of helping local entrepreneurs succeed. When that happens, the broader community benefits too,” said Ian Hathaway, Senior Director for Ecosystem Development at Techstars. “In our work with ecosystems around the world, Techstars has seen again and again how entrepreneurship can help provide renewed economic vitality, a sense of optimism, and upward mobility in a region. It is our mission to help entrepreneurs everywhere and we look forward to bringing this mission and our experience to help our partners and benefit the founders in Hampton Roads.”
Local ecosystem leaders are thrilled to partner with an organization with as much experience and as strong a global network as Techstars. Monique Adams, Executive Director of 757 Angels states that “Ecosystems thrive when people and resources work together to solve problems and provide solutions faster. Techstars will bring valuable expertise to our community and promote collaboration in our region.”
Techstars launched the Techstars Startup Ecosystem Development program in January 2019 to support local community leaders at the state and city levels in ecosystem development and fostering thriving startup communities. As part of the partnership program, Techstars will work with GoVirginia, 757 Accelerate and 757 Angels to provide critical resources and networking opportunities to the Hampton Roads startup ecosystem. This will include events and programming focused on entrepreneurs’ needs; forging connections between local founders and members of the Techstars global network, among other efforts.. As part of the engagement, Techstars will hire a full-time Director of Ecosystem Development to drive program activities and ecosystem engagement.Techstars also will have a presence in the 757 Startup Studios in downtown Norfolk’s new Assembly building.
The Techstars Startup Ecosystem Development program is built in part based on principles outlined in the Book Startup Communities by Brad Feld, cofounder of Techstars and partner at Foundry Group, and The Startup Community Way, co-authored by Brad Feld and Ian Hathaway, a sequel to Startup Communities. The new book is a collection of frameworks, principles, and action points that guide and inform practitioners and observers about the key characteristics, behavioral patterns, and basic function of startup communities and entrepreneurial ecosystems.
About 757 Accelerate
757 Accelerate is a selective, mentor-driven startup program that provides promising founders $20,000 in capital without taking equity, connections to customized mentors, investors, and resources, as well as real customers to help validate their product and test their business model. Launched in 2018, 757 Accelerate is a nonprofit accelerator based in Norfolk, Virginia that aims to close the gaps in the Hampton Roads entrepreneurial ecosystem one startup at a time. For more information, visit www.757accelerate.org.
About 757 Angels
757 Angels was formed in 2015. 757 Angels seeks to catalyze the Hampton Roads economy by supporting investment in the entrepreneurial community. 757 Angels accepts applications from promising Hampton Roads entrepreneurs on its online application site. Applications are
reviewed through a standardized process (see 757angelsgroup.com for more information on our process) and our group of over 120 members/investors meets 3 times a year to listen to pitches by 2-3 of the most compelling companies selected from that cycle’s application pool.
The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 2,200 companies that today have a combined market cap valuation of $29 Billion. www.techstars.com
Monique Adams, Executive Director, 757 Angels, firstname.lastname@example.org
Evans McMillion, Executive Director, 757 Accelerate, email@example.com