Techstars Chicago has revealed the 12 companies in its spring accelerator class.
The startup accelerator, known for mentoring fast-growing local companies like SpotHero and LogicGate, provides startups with programming, mentoring and investment. The spring program will focus on helping companies strengthen their customer acquisition strategies.
Neal Sáles-Griffin, managing director of Techstars Chicago, said if he saw one theme in this class, it's that these companies are focused on improving people's lives.
The accelerator launched on Monday and will end with a demo day on June 8. During the three-month program, companies get access to a network of corporate partners, investors, alumni and other mentors to learn the ins and outs of the trade.
The program comes with $20,000 with another $100,000 that's an option as a convertible note. Startups average a first raise of $1 million after participating in the program.
Sáles-Griffin said that given all of the current turmoil in the startup community, now is a great time for these startups to make a name for themselves.
"When there's times of struggle or crisis, or if funding starts to dry up or VCs become more difficult to close rounds with, I think that just means that a lot of founders are going to have to step up and find ways to become profitable sooner or get creative with how they generate revenue," he told Chicago Inno.
Open to founders of all backgrounds, the accelerator program provides equitable access to funding and support for Black, Hispanic and Latino, Indigenous American and Pacific Islander entrepreneurs.
This latest class includes startups from across industries, including fashion, crypto investing, travel and — everyone's favorite topic right now — artificial intelligence.
Techstars Chicago, which operates cohorts across the country, was originally founded in Colorado in 2006 and launched a Chicago operation in 2013.
Here are the 12 companies in the spring 2023 class:
- Alleo.ai: an AI platform that optimizes a user's daily life activities.
- Apricotton: a bra company that grows as the user grows.
- Basil: one-click legal documents for contractors, builders and tradespeople.
- The CryptoMom App: crypto investment and gifting platform geared toward women.
- Early Intervention Systems: software focused on aging and memory care well-being.
- Flat: a startup whose mission is to eliminate the expensive, unexpected and preventable costs of homeownership.
- LifeWeb 360: helping communities celebrate a loved one who has died by sharing memories.
- Memby: an app to keep the memories and lose the clutter.
- PainNavigator: lifestyle-based coaching, education and movement platform for chronic pain.
- Somnea Health: an intelligent care platform for sleep treatment success.
- Tacticly: a solution that automatically monitors a person's entire infrastructure, including services, applications, endpoints and users.
- VacayHQ: a company that helps you boost your credit so you can earn free travel.
