(New York) — After its inception in 2010, TechStars NY, a New York startup incubator, has emerged as one of the most successful developers for startup businesses in the country, graduating 23 successful startup companies from the New York area. Startups that are chosen by TechStars NY are given monetary aid, website hosting, legal services, office space, and above all, they are provided with access to over 150 mentorship resources right in New York City.
Graduates of the intensive three month “boot camp” program come from all different industries including big names in the New York real estate market, like online apartment search company, Nestio. Since Nestio, a 2011 TechStars graduate, finished their three month training period, the company took their services beyond the New York real estate market and to a national level. The large step forward for the company was announced on the 2011 season finale of the Bloomberg reality show, a program that helped turn TechStars into the well known company it is today.
The success of this New York real estate company and other companies that have been mentored by TechStars NY, can be attributed to the success of the TechStars team. This includes founders, David Tisch and David Cohen, and the company’s number two man, Adam Rothenberg.
After leaving his job at a New York hedge fund for TechStars, Rothenberg has worked his way to a high spot in the rankings. The transition from finance to the fast paced New York branch of TechStars, was a large change for Rothenberg. However, with time, he proved to be an asset at matching the company with mentors in different niches and in helping start up real estate companies like Nestio understand the financial and investing side of growing in today’s real estate market.
Rothenberg’s latest feat will be mentoring the newest class of companies this summer. As TechStars enters its third cycle, it will be welcoming 14 more companies, out of an impressive 1500 applicants, into the TechStars family. After raising an astonishing $24 million fund this year for TechStars NY, startups are now offered an extra $100,000 upon graduation.
With the increased funding, there’s no telling what future companies will be able to accomplish under the guidance of Rothenberg and the New York TechStars team. With 21 of the 23 graduates already surpassing the $50 million venture funding mark, and companies like Nestio announcing mergers with national powerhouse Ebay, there is much to be seen about the future success of TechStars NY graduate. While founder Tisch continues to be the face of TechStars, Rothenberg will be working behind the scenes to grow the wildly successful company into an even more successful hotbed for emerging young companies to find their footing with.
First Published: VENTUREBEAT