Techstars is looking to return to Toronto, two years after it paused programming amid the departure of long-serving managing director Sunil Sharma.
According to a December LinkedIn post, the global, early-stage technology startup accelerator and investor is recruiting for âa new chapterâ in Toronto. In the post, Techstars Toronto indicated that over the coming months, its board of directors is building a team to lead the acceleratorâs Toronto operations.Â
That begins with a new managing director, a position that Techstars Toronto is currently accepting applications for. The organization wrote that it is seeking a leader âwhoâs deeply rooted in the [Greater Toronto Area] and knows how to build, invest, scale, and push early-stage companies from momentum to true lift-off.â
âWhat [Toronto] needs now is a program designed in Toronto, for the GTA, powered by the global reach and resources of Techstars.â
âToronto is one of the most diverse and globally connected innovation hubs in the world,â states the LinkedIn post. âThe city is home to world-class founders, world-class talent, and world-class ambition. What it needs now is a program designed in Toronto, for the GTA, powered by the global reach and resources of Techstars.â
The nature of this program or when it might launch remains unclear. BetaKit has reached out to Techstars and Techstars Torontoâs board for comment regarding its plans for Toronto.
Techstars offers three-month accelerator programming for startups in more than 30 cities around the world, investing $120,000 USD, taking an equity stake in participating companies, and providing them with mentorship and access to its vast global network. It claims to be the worldâs most active pre-seed investor.
This announcement comes two years after Techstars made significant changes to its overall operations and strategy, shutting down some of its accelerators and moving its corporate headquarters as part of a renewed focus on some of the worldâs largest tech ecosystems.
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At the time, BetaKit reported that Techstars Toronto ceased accepting new applications, paused its accelerator programming, and Sharma transitioned away from the accelerator, leaving its long-term future in the city uncertain.
Since its launch in 2017, Techstars Toronto has supported and backed a variety of Canadian tech startups, from Balance to Captain AI, Cinchy, Fable, Inkblot, KitchenMate, and Tread. In 2023, it celebrated 100 direct investments into Canadian and international companies.
Now, Techstars Toronto is charting its return under the leadership of a revamped board that includes Dejana Dua, who leads VentureLabâs HardTech Investor Network and Capital Programs, Peoples Group chief client officer William Keliehor, Bell senior VP of business solutions Matt McGowan, Axion Fund venture partner Mellie Chow, and Math Venture Partners managing director Troy Henikoff.
Feature image courtesy Techstars Toronto.
