TechStars has started accepting applications for the 2011 Boston (Spring) Program! Now that they've been in Boston for two years, I was wondering how the first two classes have faired. TechStars have a reputation for being very transparent with their results, but they haven't updated their numbers since May of this year.
So, I thought I'd do my own research in hopes that it would be useful for anyone contemplating applying to the Boston 2011 program.
Here's the rundown for the first two years in Boston. You can find more details at the end of this post.
|Program||# Companies||# Funded||# Active||# Failed||# In Boston|
|Summer 2009||9||4 (44%)||7 (78%)||2 (22%)||4 (44%)|
|Spring 2010||10||3 (30%)||9 (90%)||1 (10%)||8 (80%)|
|Total||19||8* (42%)||16 (84%)||3 (16%)||12 (63%)|
There have not been any acquisitions or IPOs yet.
*Update (11/22/2010 15:00 ET): I've received notice from a very reliable source that one additional company has received funding and that three others are currently actively fundraising.
When compared to the first two years in Boulder, Boston seems to be off the pace when it comes to the number of companies that received funding (13 vs. 7.)
Likewise when it comes to the number of dollars raised (~$7.8M vs. ~$4.9M.) However, the Boston number doesn't take into account StarStreet's undisclosed funding round. These numbers are probably further skewed by the fact that the Boston 2010 Demo Day was only a few months ago, and sufficient time may not have passed for financings to occur.
Boston may be doing a better job holding on to its startups when compared to Boulder, but it's a little difficult to tell given the amount of acquisition activity that has occurred in Boulder.
This research is not rigorous! It was performed by Googling around and looking in the usual places. If you have better information and you let me know it, I will happily update what appears below.
I didn't go back and normalize for time (meaning, I should really consider the data as it would have been 6ish months after the second Boulder Demo Day.) Likewise, I didn't normalize for the fact that there were 20 companies in Boulder and 19 in Boston in the first two years. Please pardon my laziness!