Episode 438 with Monica Wheat of Techstars Detroit

Bob and Randy were joined this week by Monica Wheat, Managing Director of Techstars Detroit Powered by JP Morgan. Before that, she most recently led Techstars Equitech in Baltimore. First, Bob and Monica talked about Techstars. Techstars is a global seed-stage accelerator in 40+ cities worldwide. Over 500 companies participate each year. There are over 15,000 investors, 7,000 mentors, and 3,000 alumni in the Techstars network. Techstars Detroit is a 13-week hybrid/virtual program that starts on September 12, 2022. Participating companies will have access to up to $120,000 in investment, plus support from JP Morgan, and resources and benefits to help their business grow and succeed. Two Detroit companies participated in Techstars Equitech, which was focused on diversity and equity. They are Athlytic, a marketplace that connects student athletes to endorsement opportunities and Sparen Homes, a person-to-person real estate marketplace where people can buy and sell real estate themselves without a bank or an agent. Both are currently currently raising seed rounds. Another company from Techstars Equitech is EcoMap, a company that builds platforms that digitize ecosystems. It has just closed a $3.5M seed round! Randy asked Monica about Detroit Startup Week. It is the largest entrepreneurship conference in Michigan. It’s a collection of education events all about entrepreneurs and building and growing businesses. It attached to Detroit Demo Day, where companies pitch for a share of funding to help them grow. Bob and Monica also talked about what makes a company a startup, plus Bob pitched some interesting busines ideas. Techstars Detroit is open to all founders with focused recruiting on diverse founders. Extended applications are still being accepted atbit.ly/techstarsdetroitex.