A new startup accelerator oriented on student-made creations launched Monday through a partnership between the Blackstone Charitable Foundation and Techstars.
The program called LaunchPad Lift will support entrepreneurs who are in college by identifying some of the best ideas coming from the university level and pairing those future startup leaders with resources and connections that both the foundation and Techstars have readily available.
“Blackstone LaunchPad powered by Techstars offers students valuable on-campus support during a critical time in their entrepreneurial journey,” said Techstars CEO David Cohen in a press release announcing the launch. “LaunchPad Lift will take this a step further – dedicating additional targeted support to a cohort of the most promising ventures. Techstars wants to be a worldwide network that helps entrepreneurs succeed from inspiration to IPO and we recognize the importance of early guidance.”
Seven groups have already been chosen for the first cohort in 2019. Those students chosen to proceed with LaunchPad Lift will be given $10,000 to support their business after a 10-week accelerator program that is headed by a personal Techstars mentor.
Experts from both Techstars and the Blackstone Charitable Foundation will educate the student entrepreneurs on the best business practices for fast and sustained growth.
“I am inspired by the diversity and potential of these student entrepreneurs,” said Amy Stursberg, the Executive Director of the Blackstone Charitable Foundation. “LaunchPad Lift, leveraging the expertise of Techstars and Blackstone, will provide an additional boost in their development as entrepreneurs. Over the past decade of helping the next generation of entrepreneurs launch and grow businesses, we know that mentorship and targeted support is crucial at this stage of venture growth. Through LaunchPad Lift, we will be able to supercharge student-led ventures in a measureable way.”
Participating students come from schools like Temple University, Cornell University, and New York University, among others.