Techstars, which recently announced a partnership with Harlem Capital Partners, has introduced its Alabama EnergyTech Accelerator. The new accelerator aims to identify and invest in solutions for energy, job creation, and revenue within the state.
Over three months founders will work to further develop platforms and tools in energy, smart cities, Internet of Things (IoT), industrial electrification, connectivity, and electric transportation. In addition to improving innovation and employment, the program supports the growth of homegrown energy solutions in Alabama.
Techstars Alabama EnergyTech Accelerator will start in July of 2020 and was formed via a partnership with Alabama Power, the Economic Development Partnership of Alabama (EDPA) and the Department of Commerce.
Alabama ranked second to last in the United States for startup activity last year, according to the Kauffman Foundation. Techstars, which runs 47 mentorship-driven accelerator programs around the world, will likely play a large role in supporting the innovation ecosystem within the state.
Throughout the 13-week program, 10 selected startups will receive seed investment, mentorship through Techstars’ worldwide network of business leaders, and business coaching through the program.
“We’re thrilled to launch our first accelerator in Alabama in partnership with Alabama Power, with support from the EDPA and Department of Commerce,” said Keith Camhi, Senior Vice President at Techstars.
Founded in 2006, Techstars operates programs around the world. Today is has partnered with 65 companies that offer various mentorship services to entrepreneurs looking to turn ideas into new ventures.
This article includes a client of an ESPACIO portfolio company.