ATLANTA, Dec. 14, 2015 /PRNewswire/ -- As part of its commitment to drive innovation and entrepreneurship, Cox Enterprises today announced it will launch Techstars Atlanta, an accelerator program for technology startups. Located at Ponce City Market, Techstars Atlanta will annually select a group of 10 startups to participate in a three-month program that provides expertise, funding and office space to help them accelerate their businesses.
Techstars is an internationally recognized accelerator program that boosts entrepreneurs' early stage business and product development efforts through focused education, mentorship and funding.
"As a technology company, Cox Enterprises is committed to driving and inspiring innovation," said Cox Enterprises Executive Vice President Alex Taylor. "Techstars is a fantastic program. The mentorships help accelerate startups, while also injecting a strong dose of innovation and entrepreneurial spirit into the community."
Cox Enterprises has launched several startup companies and transformed them into large-scale, successful businesses, including Autotrader and NextGear.
Both Cox Enterprises and Techstars share a common goal of catalyzing the entrepreneurial community in and around Atlanta, similar to startup communities across the globe. The Techstars program has operated in Austin, Boston, Berlin, Detroit, London, New York and Seattle, among other locations.
"Atlanta has an entrepreneurial ecosystem that continues to draw startups to our area," said Atlanta Mayor Kasim Reed. "Cox Enterprises is Georgia's largest private company and one of metropolitan Atlanta's leading businesses. I am pleased Cox is investing in our city and region by supporting our start-up economy and creating an exciting, fast-paced culture of business and technology innovation."
The Techstars Atlanta program will be based on the premise that life's most important connections are happening in new and exciting ways. Social media platforms, cloud-based data, predictive analytics and cyber security are thoroughly interwoven in our daily lives. The businesses of tomorrow will need to aggregate and share vast amounts of information in creative new ways.
To help achieve that vision, the three-month Techstars program culminates with Demo Day, where approximately 100-200 angel investors and venture capitalists learn about the participants' businesses. Approximately 75 percent of Techstars' participants have received follow-on funding and/or become profitable soon after the conclusion of their three-month program.
"Techstars believes that great entrepreneurs are everywhere and Atlanta is no exception," said Techstars' Co-Founder and Managing Partner David Brown. "With a dynamic startup community, Atlanta is a leader when it comes to innovation in the southern U.S. We are excited to partner with Cox Enterprises to rally the broader Atlanta business community around this powerful and fast-growing startup community."
Techstars Atlanta is seeking applicants that are focused on social media platforms, cloud-based data, predictive analytics and cybersecurity that will drive positive change in this interconnected world. Applications will be accepted today through March 20, 2016 at http://www.techstars.com/programs/atlanta-program/. The first program will take place in Summer 2016.
About Cox Enterprises:
Cox Enterprises is a leading communications, media and automotive services company. With revenues of more than $17 billion and approximately 55,000 employees, the company's major operating subsidiaries include Cox Communications (cable television distribution, high-speed Internet access, telephone, home security and automation, commercial telecommunications and advertising solutions); Cox Automotive (automotive-related auctions, financial services, media and software solutions); and Cox Media Group (television and radio stations, digital media, newspapers and advertising sales rep firms). The company's major national brands include Autotrader, Kelley Blue Book, Manheim, Savings.com and Valpak. To learn more about Cox's commitment to people, sustainability and our communities, please visit CoxCSRReport.com.
Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to live. With dozens of mentorship-driven accelerator programs and thousands of community programs worldwide, Techstars exists to support the world's most promising entrepreneurs throughout their lifelong journey, from inspiration to IPO. Techstars provides access to tens of thousands of community leaders, founders, mentors, investors, and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and do more faster. Techstars supports every stage of the entrepreneurial journey – from early stage grassroots community development to more formal opportunities that provide education, experience, acceleration, funding, and beyond.
SOURCE Cox Enterprises