Boulder, Colorado-based Techstars raised startup funding and helps launch businesses through its startup accelerator and development program entered into a joint venture with India’s Bangalore-headquartered ANSR which offers startups-focused infrastructure.
The Economic Times reports that Techstars, which holds a majority share in the joint venture, aims to open centers across multiple locations in India in a few years. The first center will be launched in Bangalore next year. “The launch of Techstars India will provide an impetus to the rapidly growing startup ecosystem and the emergence of India as a dominant entrepreneurial network,” said Lalit Ahuja, CEO, ANSR.
Techstars operates four divisions: a startup program, an accelerator, corporate innovation partnerships, and a venture capital fund. Typically, startups selected to Techstars’ three-month accelerator program are offered $20,000 in exchange for 6% common stock, and a $100,000 convertible note upon acceptance.
