Get the latest tech news
Techstars’ $80M partnership with J.P. Morgan is on the rocks, employees say
The fate of the Advancing Cities programs—and some of the around 20 people who work at Techstars in this program—is up in the air.
During a Zoom meeting with her senior leaders last summer, Techstars CEO Maëlle Gavet sat at a table, an open notebook in front of her, a laptop to her side, her arms crossed. For instance, Gavat and a managing director wanted to call the Oakland program Techstars Silicon Valley despite J.P. Morgan’s intention to emphasize the accelerator’s focus on and presence in a prominent Black city. Another source of friction was that J.P. Morgan wanted the focus of the program to lean towards a high percentage of diverse founders, but, like all investment firms, Techstars rewards managing directors primarily based on returns.
Or read this on TechCrunch
