- Techstars, a global platform for innovation and investment, announced the launch of the Techstars Workforce Development Accelerator
Techstars, a global platform for innovation and investment, announced the launch of the Techstars Workforce Development Accelerator. There is potential for nearly 200 million global job losses, according to the International Labour Organization (ILO) due to the global coronavirus pandemic.
The mentorship-driven accelerator will work with startups addressing the challenges of the current labor market through innovative technologies, business models, and solutions.
The accelerator will be run in partnership with ZOMALAB (a private family office investing to catalyze bold and innovative solutions to key social and economic issues), Strada Education Network (a nonprofit organization with expertise bridging education and employment for students across the United States), and Colorado Thrives (a 501(c)(3) bringing together CEO leaders from 13 of the Colorado’s largest employers focused on advancing the state). Techstars, ZOMALAB, Strada Education Network, and Colorado Thrives will bring founders from across the globe to Colorado for an intensive, mentorship-driven 13-week program each year.
The Techstars Workforce Development Accelerator is accepting applications from global startups developing products and/or services focused on the advancement of students and a skilled and relevant workforce with applications to the U.S. market. And the accelerator aims to democratize access to high quality training, networks, and jobs, enable individuals to make informed decisions about the professional pathways that best suit them, promote and increase awareness of non-degree pathways to employment, and support businesses in closing skill gaps and opportunity seekers in building professional networks. Plus technologies applicable to this program include but are not limited to: tools that help workers navigate the changing landscape of work as well as platforms and financial tools supporting training, re-skilling, formal education, and building relevant connections.
The program is going to be led by Managing Director Taylor McLemore — who is a serial entrepreneur and founder of Patriot Boot Camp, a Boulder-based 501(c)(3) that supports active-duty members, veterans, and their spouses in their entrepreneurial efforts. McLemore graduated from the Techstars Boulder Accelerator in 2013.
The 13-week program will accept 10 startups on an annual basis. And participants will benefit from programming and mentorship to support rapid growth of their businesses as well as access to each partners’ network.
The program will engage two additional non-profit organizations — sponsored by grants from Colorado Thrives — to participate in the three-month program to benefit from the accelerator, though they will not receive investment funding. And the nonprofits will be sourced by both Colorado Thrives and Techstars through a separate application process that will be announced later this summer.
The Techstars Workforce Development Accelerator is set to take place in Denver starting November 2, 2020, culminating in a demo day on February 11, 2021. And due to the COVID-19 pandemic, any considerations with respect to running the program in a virtual format will be evaluated this summer, dependent upon the impact, and uncertainties at that time.
Key Quotes:
“Technology is rapidly reshaping our global workforce and the skills required to engage in our modern world. In this global health and economic crisis, startup founders are being offered a challenge: how can we accelerate the solutions and innovations needed by millions of students, workers, and employers? Building a path to improve how people work, do their best work and get back to work is critical. This accelerator is an opportunity to have significant and long-term impact. There is no greater challenge than how we as a global community get people back into the workforce in productive, meaningful jobs.”
-Techstars Managing Director Taylor McLemore
“The effects of the COVID-19 pandemic will almost certainly impact our education-to-employment system, influencing the needs of students and employers alike. We cannot yet predict what that change will look like, but our learning and job-training providers will benefit from guidance that helps them transition to meet those needs. Bold, entrepreneurial ideas are vital to guiding America’s workforce and learning providers into this future, which is why this new accelerator program is important.”
-Strada Education Network CEO William D. Hansen
“We are at a historic turning point for our nation as millions of Americans look for ways to reenter the workforce. Current options are often limited for job seekers in their ability to match experience to the right positions, help people understand skills they may need, and get those skills affordably. With a network of 13 influential, Colorado employers at the table to share needs and inform solutions, this is a huge opportunity to tap entrepreneurial innovation worldwide. We’re honored to play a role in supporting the creation of, not one solution, but a variety of choices that provide more American’s pathways to sustainable careers and a great quality of life.”
-Ben Walton, co-founder of ZOMALAB
“The COVID-19 pandemic is magnifying the pace of change and too many people are at risk of being left behind. One piece to the puzzle is bringing entrepreneurs and innovators to the table to solve some of the intractable problems facing workers and small businesses. Colorado Thrives is working to make an impact on economic and social mobility in the state of Colorado. We believe that in order to do so, we need to see innovation in both the for-profit and nonprofit sectors in the form of scalable solutions to workforce development.”
-Mike Fries, CEO of Liberty Global
