Techstars, a global investment business, has announced the launch of its accelerator program for Fort Worth. The Techstar Physical Health Fort Worth Accelerator is a program that focuses on addressing the challenges and opportunities in the world of small Physical Health businesses.
The program’s main goal is to support and fund startups in the physical health space that might need help with building technologies, treatments, and therapies. Techstars will be working in partnership with Goff Capital, a Texas-based private investment company, and The University of North Texas Health Science Center (HSC) at Fort Worth.
Tarrant County and the City of Fort Worth have each donated $2.4 Million in AmericanRescue Plan Act funds to the program, according to The Dallas Morning News.
“One of our top priorities at HSC is to invest in innovation and entrepreneurship and partnering with Techstars, the City of Fort Worth, Tarrant County, and Goff Capital brings incredible opportunity to our startup communities and accelerators,” said Dr. Michael R. Williams, the President of the Health Science Center and Chancellor of the University of North Texas System.
“This public-private collaboration will change our medical community and spark much-needed innovation through the ability to focus on human movement and rehabilitation as an industry vertical,” he added.
Trey Bowles, a Dallas-Fort Worth serial entrepreneur and philanthropist, will be leading the program. Bowles has previously founded companies across e-commerce and media, including Morpheus, a popular peer-to-peer file sharing software. He has also served as a Board Member and Advisor to numerous companies in the DFW area and founded multiple non-profit organizations that were entrepreneur-focused.
“As a deep embedded member of the North Texas startup community, I see the incredible opportunity we have with the Techstars Physical Health Fort Worth Accelerator to give startups the advantage they need to succeed by providing access to capital, one-on-one mentorship, and knowledge sharing from across Techstars’ global network,” Bowles said in a statement.
Techstars has run accelerators in Texas since 2013, but this will be the first one heading to Fort Worth. The company is deeply rooted in Austin’s economy through investments in over 150 startups with a combined market cap sitting at $9.1 billion.
In Fort Worth, the accelerator will invest in and support ten early-stage, high-growth startups annually for the next three years. The startups will engage in an intense 13-week program in which they will receive hands-on mentorship, $120K funding, and access to Techstars’ expansive network of mentors, investors, corporates, and alumni.
The first accelerator begins on September 12, 2022, and will have a Demo Day on December 8, 2022. Applications are being accepted now through May 11.
