Techstars Miami Office Hours
Learn about the upcoming Techstars Miami program and receive tips on how to make your application stand out.
The application deadline is May 22nd, and the program will begin in the first week of September. We will offer rolling admissions beginning in May.
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At Techstars Miami, we help founders reach product-market-fit faster.
It takes most successful companies between 3-5 years to reach product-market fit. However, most companies never reach this stage, even after raising millions of dollars. Our program is designed to reduce the time it takes to achieve product-market fit and increase the number of successful companies.
We offer all selected companies $120,000 of initial funding. In addition to helping founders reach product-market fit, we assist companies in raising their next round of funding by running an efficient fundraising process and helping founders recruit top remote engineering talent.
Format
We will be running a mix of in-person and remote sessions. During the first and final weeks of the program, we will be in person in Miami. While many founders find Miami the best place for themselves and their companies, we have designed the middle part of the program to provide an optimal and custom-tailored remote experience. This way, founders may work from wherever they prefer.
Program Calendar
Week 0 [In Person]: Two-day in-person retreat
Week 1 [In Person]: Networking, Fireside Chats, Workshops.
Week 2 [Remote]: Mentor Magic. “Speed Dating” with 35-45 mentors per company.
Week 3-12 [Remote]: PMF Experiments, Group Ops Review, 1:1 with Program Team, 1:1 with selected mentors, Peer Founder Forums.
Week 13 [In Person]: Demo Day.
Founders receive PMF, Fundraising, and Recruiting support from the program team on-demand before, during, or after the program.
What we look for:
We look for:
Founders that deeply understand their customer’s pain.
Founders that have demonstrated they can execute quickly.
Business models that have a plausible path to generating $1bn in annual revenue.
Any stage, vertical, or market in the Americas.*
We have funded companies with as much as $2.5M in funding and as little as just an idea.
— *Excluding Cuba and Venezuela due to U.S. Government sanctions.
About the Techstars Deal:
Techstars provides an initial investment of up to $120k paired with $2M+ in perks and an invaluable global network of alumni, mentors, and investors for 6% in pre-money common stock and up to 3% in a convertible note.
The common stock is for the program, the alumni, investor, and mentor network for life, around $5M in credits and perks, including over $400,000 in cloud credits and $20,000 in cash.
There is also a $100k convertible note that you may choose to take or not, at a cap between $3M and $5M.
Many raise significant capital before the start of the program and choose not to take the convertible note.
We earn primarily common stock to align with the founders and employees. We only make money with common stock when founders and employees make money. It is also pre-money, so we will dilute first when your SAFEs or Notes convert.
Common stock is typically priced at a fraction of preferred stock and is not a pricing event.
Investors buy preferred stock or convertible securities that convert into preferred stock, most are post-money, and they get paid first, among other rights.
Read more about the Techstars Investment Terms.
Frequently Asked Questions:
Q: What does the application process look like, and how long do you take to decide?
A: There are a total of three interviews, early evaluations are in May and regular admissions are in June and July.
Q: I am really short on time; how much time will Techstars take?
A: We will not waste your time. Techstars Miami is NOT SCHOOL; we custom tailor the program to your most immediate obstacles so that you can crush obstacles along the way and get to Product-Market Fit faster. Any time you spend with your mentors and program staff will be to help you do two years' worth of work in three months.
Q: I have already or will soon close a round of funding. Should I still consider Techstars Miami?
A: Many companies about to join our program will have raised between 500k-1M before the program starts in September. We can help you speed up your round, but that is not the only reason why you should do Techstars Miami. We see fundraising as a means to an end, and that end is getting to product-market-fit faster.
Q: What is the impact of 6% common to Techstars in our round and for our existing SAFE/Note investors? Does that not lower our valuation?
A: It does not impact your valuation; common stock is priced at a fraction of preferred stock; unlike other accelerators, we are taking common and not preferred, and we also take the 6% at a pre-money valuation, meaning that we dilute even retroactively before any money you have raised on a SAFE or convertible note. For most companies, post-money Techstars gets closer to 4% than 6%