A clean tech and energy innovation accelerator run by Techstars with Alabama Power.
- The offer:
- $220k per company
- Location:
- Birmingham, AL, United States
- Duration:
- 13 weeks
What you need to qualify
- Building in climate tech, clean tech or energy efficiency. The published thesis covers the entire length of the energy vertical: renewable energy, clean energy, solar power, wind power, hydropower, geothermal energy, biomass energy, energy storage, carbon capture, sustainability, electric vehicles, smart grids and energy distribution.
- Able to take part in the Birmingham, Alabama programme. Techstars says this accelerator has a track record of hosting founders from all across the world and welcomes founders of all backgrounds.
- Ready to accelerate. Techstars states that the stage a company is in does not matter as long as it is ready to accelerate, and it has taken teams that arrived with zero revenue as well as teams with millions in revenue.
- Some form of validation that you are building something people want. Techstars says you do not necessarily need revenue, paying customers or even signups, but you do need that validation.
- A founding team that can show why it is the right team to solve this problem. Techstars says the team component is the most important part of its decision, and looks for persistence and the ability to learn.
- A market that is worth entering now. Techstars asks not only whether the market is sizeable but whether now is the right time to enter it.
- Willing to accept the standard Techstars accelerator terms, which take 5 percent common stock through a $20,000 post money convertible equity agreement alongside a $200,000 uncapped MFN SAFE.
Eligibility
- Eligible stages
- All stages
- Countries
- Global, subject to the provider’s eligibility and approval
How to apply
- 1
Read the application preview first
Techstars publishes the full question set at techstars.com/application-preview. Draft your answers there before you open the form, because it takes most teams anywhere from one to four hours to complete their application for the first time.
- 2
Create an account on the Techstars application portal
The application itself is submitted at apply.techstars.com, which needs an account. You can go back and update sections with new information as your company continues to develop, up to the deadline.
- 3
Prepare the media the form demands
One question asks for a product demo video, a pitch deck and a team introduction video together. Have all three hosted and shareable before you start, since this is the step most applicants are not ready for.
- 4
Select Techstars Alabama EnergyTech Accelerator in the programme selection step
The form ends with an optional selection of preferred accelerators from those currently accepting applications. Choose the programmes that match your focus area so that the right managing director sees your application.
- 5
Submit before the programme deadline
Techstars staff personally review every application that comes in and aim to review all applications within four weeks of applications closing.
- 6
First and second round interviews
You may receive an invitation to interview anytime between one and four weeks after the application deadline. These rounds look at what you have accomplished in the past, how long the team has been together and how well you work together.
- 7
Screening committee interview
Finalists take a virtual interview with the managing director and programme manager, programme mentors and the accelerator corporate partners, who ask questions about the problem and market and about the product and idea.
- 8
Receive the decision
Techstars notifies all applicants about the state of their application. It encourages reapplying, noting that it takes many companies a few tries to get in.