A COLORADO-BASED firm that nurtures technology startups has made its first move out of the US by launching in London.
TechStars will launch a programme designed to help 20 small businesses develop, allowing them €85,000 (£74,000) made up of funding and convertible debt each.
The startups will also receive mentoring from successful British technology startups such as Moshi Monsters creator Mind Candy.
The launch will come as a boost to Number 10’s Tech City project, which aims to incentivise innovative technology startups to set up in London. Last week saw new proposals to encourage high growth companies to go public on the London Stock Exchange by relaxing listing requirements.
TechStars chief executive David Cohen said he had chosen London above other European cities because “the current business climate here means we can work with an incredibly broad spectrum of British and international teams and top talent”.
At a Downing Street announcement of the launch, culture minister Ed Vaizey said: “We are putting in place the policies to help companies grow and help them get access to the finance they need.”
TechStars, which is based in Boulder, Colorado, also has programmes in Boston, New York, Seattle and Chicago. The firm said it would welcome applications from prospective startups in March.