Techstars Mobility, part of the global Techstars mentorship operation, is bringing in 12 start-up firms from around the world for an intensive three-month program at Ford Field offices.
All 12 firms selected for Techstars Mobility focus on future transportation solutions and will align with Ford Smart Mobility, the automaker's effort to bring together connectivity, autonomous vehicles, the customer experience and data and analytics.
Perhaps better than any of the entrepreneur programs under way in southeast Michigan, Techstars Mobility promises to enable its savvy young entrepreneurs to actually succeed in growing a business.
Here’s why:
First, the level of support is greater than in other entrepreneur programs. Linked with national venture capitalists who support the program, Techstars Mobility will give each of its 12 start-ups $120,000 in support. By contrast, many other mentorship or accelerator programs in metro Detroit offer cash help ranging from $2,500 to $10,000.Second, Techstars Mobility can connect its start-ups to serious investors whose cash can boost these young firms to the next level.
And perhaps most significantly, Techstars Mobility focuses intently on a specific industry cluster — the world of mobility research. Too many of our start-up programs, events and pitch competitions welcome all comers, or focus on entrepreneurs who are still at the very early stage of starting out, those with little more than a concept.
A lot of current research and opinion holds that focusing on a single specific industry sector is likely to produce more winners. Indeed, the Brookings Institution, the Washington, D.C., think tank, and other research groups have begun to emphasize the value of clusters over individual firms as a key to economic growth in older cities like Detroit.
“Techstars and Ford Motor Co. are working to support smart, ambitious entrepreneurs who are developing innovative solutions for mobility issues,” Ken Washington, Ford vice president for research and advanced engineering, said in a statement. “Start-ups are bringing new energy and creative thinking to the fore, and we are pleased to introduce these new ideas to Detroit and the auto industry.”
Techstars Mobility begins Monday and culminates September 8 with presentations by the start-up firms at the Detroit Opera House. Last year, the initial demonstration day drew more than 1,000 attendees from 50 automotive organizations.
Among this year’s crop of start-ups:
HAAS Alert offers a smartphone app that warns motorists when emergency vehicles are approaching.HERO has created an app that provides designated drivers for those too drunk to drive home — and rewards safe behavior with various benefits.
Drive Spotter improves fleet management by offering real-time information on accidents and potential incidents that would reduce efficiency.
Braiq is a group of New York-based neuroscientists, computer scientists and biomedical engineers hoping to personalize autonomous vehicles.
Techstars Mobility (with a slogan of Driven by Detroit) launched in 2015 to focus on next-generation mobility solutions. This year, organizers reviewed nearly 500 applications from 52 countries across six continents.
Though just in its second year, Techstars Mobility already has posted an impressive track record. The 2015 graduating class has raised $5 million in funding to date. The broader Techstars that operates globally and involves a variety of industries has graduated 745 companies since 2007. Those start-ups have raised $2.2 billion.
“Our program is expanding and exceeding expectations with a growing worldwide response,” Ted Serbinski, managing director of Techstars Mobility, said in a statement. “We are excited to help these innovators accelerate their businesses while bolstering the entrepreneurial resurgence in Detroit.”
Bill Coughlin, president and CEO of Ford Global Technologies, echoed that.
“Start-ups are unburdened by the past and think with a cleaner sheet of paper,” he said. “Great, storied companies can benefit from the exciting solutions scrappy start-ups offer.”
©2016 the Detroit Free Press Distributed by Tribune Content Agency, LLC.
