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Techstars CEO defends changes, says physical presence in a city is not necessary for investment
What was planned internally to be an exciting new chapter ended up being somewhat of a PR nightmare for Techstars.
Techstars found itself facing criticism for some of its decisions and execution after announcing it would shut down its Boulder and Seattle accelerators after recently shuttering its Austin-based program, which TechCrunch was first to report in December. Maëlle Gavet: When Techstars was born 17 years ago, it started almost as a franchise — where we would go into a city and there’d be a managing director raising a fund under the TS brand. Some of the reaction happening this week seems to be coming from people not understanding or reacting by saying, “If you’re not in a city anymore, that means you don’t care.” The idea that Techstars needs to be physically present to be involved in an ecosystem is strange.
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