Techstars is starting a new effort in Fort Worth.
The Boulder, Colo., global investment business unveiled the launch of the Techstars Physical Health Fort Worth Accelerator, according to a statement.
It will be operated in partnership with The University of North Texas Health Science Center at Fort Worth and Goff Capital. The accelerator aims to drive innovation in physical health and human movement.
Techstars is a large organization and has invested in more than 2,900 companies with a combined market capitalization of over $179 billion. Its roots stretch back roughly 15 years.
The Fort Worth effort will be led by Trey Bowles, who has founded companies in media and e-commerce. He has served as a board member and advisor to companies in the Dallas-Fort Worth area — and founded entrepreneur-focused non-profit organizations. He will have the role of managing director with the accelerator.
“It’s a really interesting thing for North Texas,” said Bowles, adding it’s a “great vote of confidence for Fort Worth from Techstars.”
Techstars Physical Health Fort Worth will support and invest in 10 high-growth, early-stage startups annually over three years. The companies will participate in a 13-week program and get up to $120,000 in funding.
“There’s just a massive network of founders, investors, mentors, subject matter experts that TechStars has built all over the world since their inception,” Bowles said in an interview.” That is just an unbelievable resource for companies as they’re trying to grow.”
The new effort will support and fund early-stage startups building new technologies, treatments and therapies in physical health. That includes areas such as rehabilitation, physical therapy, performance and exercise.
This will be the first Techstars accelerator in the Dallas-Fort Worth area, though Techstars has maintained a presence in the Texas startup ecosystem for more than a decade.
“I think it’s going to just further ingratiate the healthcare community and business community into being able to help make Fort Worth an attractive place for startups to come and launch and build their businesses,” Bowles said. It will “provide opportunities for the health sciences that are around commercialization, tech transfer and finding ways to leverage the research and their students into innovative new companies.
Source: BizJournals