Seed-stage technology incubator TechStars today announced the TechStars Network, a newly-launched invite-only alliance of independently-owned and operated startup accelerator programs under the U.S. White House Startup America initiative launched by president Barack Obama. Members in the TechStars Network look to collaborate with each other and share resources and best practices to drive innovation and entrepreneurship around the globe.
Singapore-based Joyful Frog Digital Incubator is the only Asia-based member announced at TechStars Network‘s launch. “We are pleased to have Joyful Frog Digital Incubator join the TechStars Network,” says David Cohen, Founder and CEO of TechStars. “The TechStars Network signals and formalizes our support for credible mentorship-driven programs like Joyful Frog Digital Incubator. We believe the proliferation of the mentorship-driven accelerator model is healthy for entrepreneurs.”
“Through this network of independent organizations, we can help increase their impact dramatically and make entrepreneurial communities the real winners,” adds Cohen.
“We are inspired by the 70-percent success rate that the TechStars model offers in getting early stage digital businesses to investment,” says Hugh Mason, co-founder and CEO of Joyful Frog Digital Incubator. “For the start-up businesses we will create, TechStars Network offers access to mentors, markets and investors around the world, so they will grow faster and be better placed to compete globally.”
TechStars Network’s goal is to become an engine for job growth by ensuring that over the next four years, 5,000 experienced business leaders and investors will mentor and support 6,000 promising young entrepreneurs. The aim is to increase the success rate and sustainability of each program, and to ultimately create 25,000 new economy jobs by 2015.