Techstars Chicago, a local accelerator that provides mentoring and resources to early stage startups, announced the 12 companies that will be participating in its latest "Advancing Cities Fund."
The $80 million fund, raised through J.P. Morgan's Private Bank platform, will support more than 400 companies through accelerator programs across the U.S. with the goal of creating opportunities for a diversified range of founders.
The 60 companies will go through Techstars' three-month accelerator program. Open to founders of all backgrounds, the accelerator program is designed to provide equitable access to funding and supports underrepresented groups that often have limited opportunities due to institutional, structural and systematic barriers.
The accelerator started Monday and will end with Demo Day on Dec. 8, the day the startups pitch their companies to investors. Typically around 1% of the companies that apply to the program are admitted.
Techstars Chicago Managing Director Neal Sales Griffin highlighted how this group of entrepreneurs is creating solutions that will address a wide range of issues ranging from accessing mental health to democratizing trading.
"[They have] an extremely deep connection to the problem they are solving. Many of the founders are 'scratching their own itch' and now working to find others that share the pain," Brad Schnitzer with Techstars told the Chicago Business Journal.
Applications for Techstars Chicago and Techstars Chicago JPM 2023 programs are open. Next year will mark the 10th year Techstars has supported Chicago founders.
The 2013 class included TradingView, a company recently valued at $3 billion, Schnitzer said.
Here are the 12 companies in the 2022 class:
- Activated Scale: This company, founded by Prateek Mathur, connects startups with flexible sales talent.
- Clickvoyant: This AI software company analyzes marketing data and turns raw marketing data into insight presentations in minutes.
- dev-docs: This startup wants to make developer documentation easier.
- Daedalus: This company offers a no-code platform for algorithmic trading.
- Globowl: A baby and toddler food maker inspired by international flavors.
- Leagueswype: This startup, founded by Darius Grandberry, provides a mobile wallet designed specifically for the fantasy sports and betting community.
- Parkster.ai: Founded by Drake Burciaga, this startup helps drivers find parking instantly through artificial intelligence,
- Pay4Me App: This company provides seamless cross-border payments for intentional students and travelers.
- SMARTCharts: This company provides a platform for goal-writing, data-tracking and note-taking in education and healthcare environments.
- STIGMA: This app, founded by Ariana Alejandra Gibson, is designed as a support system for anyone struggling with mental health. It crowdsources videos from people battling a range of conditions to help them discover others who are similarly struggling.
- Taste: A new dating app.
- XpressRun: A company that wants to connect delivery companies and local e-commerce businesses.
