Wednesday, October 18, 2017

Techstars Launches New Impact Accelerator In Austin

Startup accelerator operator Techstars has launched a brand new, startup accelerator in Austin today, focused on startups that are solving what the organization calls "our most pressing social and environmental problems." The new Techstars Impact Accelerator, which is being led by Zoe Schlag, says it will begin accepting applications in December, and kick off its first program in June of 2018. The new startup accelerator is specifically focused on for-profit companies that also have a social or environmental mission tied to their business, and according to Schlag is an extension of existing work by Techstars in investing in those types of companies. Techstars said investments in the companies in the Techstars Impact Accelerator is being backed by limited partners (LPs) including Morgan Stanley Investment Management's AIP Private Markets Team, Impact America Fund and Cotter Cunningham, CEO of RetailMeNot, Inc. Schlag is the founder and CEO of UnLtd USA, and has been working for the last four years in a similar role supporting impact startups both in the US and emerging markets; the new Techstars Impact Accelerator also brings UnLtd USA's existing companies into the Techstars fold.