Techstars and Cox Enterprises’ second accelerator program in Atlanta was launched specifically to change how startups shaped the social impact space. Now, it’s looking to make an even larger influence.
Techstars Impact Powered by Cox Enterprises (previously known as Social Impact), is designed to help for-profit ventures working with underrepresented groups, underserved communities, and on environmental sustainability.
The expanded definition was a strategic move for Techstars, said Anastasia Simon.
“Truthfully, right now we’re facing some of the largest environmental and societal challenges our generation has seen. To solve these issues, we recognize it is going to take truly disruptive new business models and technologies, as opposed to the incremental innovation we’ve seen in the past decade,” Simon, Techstars Investment Principal, told Hypepotamus. “While there’s data to show why investing in mission-aligned founders makes sense from a financial standpoint, we truly believe that these entrepreneurs can change the world and make it a better place. That’s why we’re committed to helping these founders scale their vision.”
Techstars Impact By The Numbers
To date, Techstars Impact has graduated 30 startups across three cohorts, including notable Southeast-based startups like Civic Dinners, Mini City, Healthy Hip Hop, Acclinate, Legal Equalizer, Empowrd, Minwo, EnMass Energy, and Make Music Count.
Each startup selected for the accelerator receives a $120,000 pre-seed investment along with months of mentoring. The program is run out of Ponce City Market, which also houses Techstars Atlanta.
While the Impact accelerator is still relatively young, several startups have already garnered outside investments, including Inclusivv (formerly Civic Dinners), North Carolina-based EnMass Energy, and Birmingham-based Acclinate. Inclusivv and Acclinate raised capital from Atlanta-based venture firms the Atlanta Seed Company and Overline VC respectively.
Applications are open now through September 28th for startups interested in joining the next cohort of Techstars Impact. Check out the application if you have a startup that is ready to make an impact!