Techstars has announced plans for a new Birmingham-based accelerator program in partnership with Alabama Power.
With support from the Alabama Department of Commerce and the Economic Development Partnership of Alabama, the new Techstars Alabama EnergyTech Accelerator will focus on energy innovation.
“We’re thrilled to launch our first accelerator in Alabama…” said Keith Camhi, Techstars Senior Vice President of Accelerators, in a press release. “This accelerator program will combine these organizations’ dedication to economic development and electrical and utility innovation with our startup expertise and global network reach.”
Alabama Power is Techstars’ first electric utility partner.
“Founders addressing electrical and utility solutions who join our 2020 inaugural class are poised for three incredible months of mentorship and growth,” said Camhi.
The accelerator will focus on early-stage startups sourced from around the world and addressing fields including smart cities, IoT, industrial electrification, connectivity and electric transportation.
“This partnership with Techstars is an exciting opportunity that supports our commitment to find better ways to serve our customers and elevate the state,” said Alabama Power CEO Mark Crosswhite in a statement.
The accelerator will accept 10 startups for 13 months of focused business coaching and mentorship. Similar to other Techstars accelerators, the program will end in a public demo day for the startups to pitch investors.
Techstars has been cementing its presence across the Southeast, most recently with Atlanta’s new Techstars Social Impact accelerator and Cary, North Carolina’s MetLife Digital Accelerator. Atlanta also has a four-year-old industry-agnostic Techstars program.
Applications for the Techstars Alabama EnergyTech Accelerator will be accepted between January 2020 and March 2020. The program will kick off next July.