Techstars launches first Canadian accelerator in Toronto

Toronto skyline

Techstars is setting up its first Canadian location in Toronto.

Founder and co-CEO of Techstars David Brown — who hails from Montreal — confirmed the news in a blog post. The Boulder-based accelerator is launching the Toronto accelerator with Real Ventures, and will run its first program in 2018.

While this is the first time Techstars is launching its accelerator program in Canada, Techstars has been active in Canada through its Startup Programs since 2010. “It’s no secret that Techstars has been active in the entrepreneurial community throughout Canada for a number of years,” Brown says. “The Toronto-Waterloo/Kitchener startup market is full of innovation, mentors and capital – the exact ingredients for a successful accelerator.”

Brown says the Toronto program will operate like Techstars’ locations in Boulder, Austin, Boston, and NYC, though he said specific details on the Toronto program and how to apply would be released later in 2017.

In Techstars’ accelerator programs, startups automatically receive an offer of a $100,000 convertible note, and $20,000 in exchange for six percent stock. Companies receive office space for three months and connections to the Techstars network of over 5,000 founders, alumni and global mentors.