TechStars

Techstars’ recent pullback from Toronto and parts of the U.S. is a wake-up call for Canadian startup accelerators, says BDC Capital’s Thomas Park. Speaking at a The Logic event, Park urged a rethink of the traditional model, especially with potential cuts in government funding.

StandUp Ventures’ Michelle McBane echoed this sentiment, pointing out the high cost for founders in traditional accelerator setups — giving up to 10% equity for small investments. McBane sees this as a turning point, highlighting newer, more founder-friendly ways to kickstart businesses and find mentorship, signaling a potential shift in Canada’s entrepreneurial landscape.

Want to know more? Check out the source code on The Logic.

Techstars, the renowned global startup accelerator, is undergoing significant changes in its operations and strategy, affecting its Toronto program. The organization plans to relocate its headquarters from Boulder, Colorado to New York City and concentrate on larger tech ecosystems.

While Techstars Toronto isn’t immediately shutting down, its accelerator programming is on pause, and its long-term presence in the city remains uncertain. Sunil Sharma, the long-serving managing director, confirmed he is transitioning away from Techstars after seven years, without confirming the program’s future closure.

Techstars has been a pivotal player in the Toronto tech scene, investing in numerous startups since its launch in 2017.

Want to know more? Check out the source code on BetaKit.