Techstars has welcomed 60 early-stage startups into new accelerator programs in five cities, the first programs financed through its Advancing Cities Fund.
The programs will be hosted in Atlanta, Chicago, Detroit, Miami and Washington D.C.
The $80-million Advancing Cities Fund was raised through J.P. Morgan’s Private Bank platform, Techstars said in a news release, and will be used to support 400 companies across more than three dozen accelerator programs.
“The startups in the inaugural class are an inspiration to us all with their innovation, drive and grit, and it’s a great privilege to be part of their growth stories,” J.P. Morgan managing director Leyonna Barba said in the release. “We’re focused on building an ecosystem around this community to improve access to capital for underrepresented entrepreneurs and provide support and expertise that goes beyond traditional banking.”
The three-month programs will culminate in Demo Day pitch events in December 2022.
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