Today, I have a really cool interview with Ted Serbinski of Techstars Mobility. If you’ve ever heard of Cargo or Gridwise, you’ve indirectly come into contact with Techstars Mobility! Basically, Techstars Mobility is a company that helps start ups in the mobility field get off the ground, get investors, and learn from successful mentors. Do you have an entrepreneurial idea but don’t know how to get started? Check out this interview with Ted to learn more about the Accelerator Program!
If you’d like to read a transcript of this podcast, please click here.
Intro
- Have you ever wondered how these new companies like Cargo, like Mystro, actually get started?
- We know that companies have to have a lot of money to get their product out there, pay for engineers, marketing. But how do they grow?
- Today’s podcast will answer those questions – I’ll be talking with Ted Serbinski, Managing Director of Techstars Mobility
- One of the companies that’s worked with Techstars Mobility is Cargo!
Interview with Ted Serbinski of Techstars Mobility
- Ted Serbinski is an entrepreneur and early-stage investor. He’s also the Managing Director of Techstars Mobility
- Invested in 33 startups in the last 24 months that have raised $30 million and are valued at $200 million
- Techstars Mobility is focused on a wide range of mobility challenges, including sea, air, and land, across industries like automotive, transportation, supply chain, travel
- Out of the 33 companies invested, majority are ground-based transportation, whether it’s vehicles and ridesharing, or buses. Nothing air-based yet!
Getting Started with Techstars Mobility
- Ted didn’t just get started with Techstars: first ran a large blogging platform for moms and ended up selling that to Lifetime Television in 2008 – he went through the start up process himself
- Moved to Detroit after his wife suggested it and once he saw the start up potential in Detroit
- Detroit was a good place to get started: entrepreneurial resurgence and automotive dominance
Techstars Mobility
- Techstars Mobility is the program part of Techstars
- Techstars is a worldwide network for entrepreneurs, has core and 90-day accelerator programs that run in 30 cities around the world
- For any startups listening/reading: in 160 different countries worldwide, Techstars puts on free start up weeks and weekends
- Trying to help entrepreneurs around the world succeed
Techstars Accelerator Program
- Accelerator program: each company that goes through one of the 30 accelerator programs, TM invests $120,000 in each of those companies
- Limited Partners like Morgan Stanley, UT Timco, and other institutional funds as well as other venture funds also provide investment
Application Process for & Acceptance Into Techstars Mobility Program
- Applications open in January at the Detroit Auto Show
- Entrepreneurs around the world are invited to apply as long as they have some connection to mobility
- Hundreds apply but only 10 are chosen
- Goal is to accelerate the business in 90 days – transformation for these companies in 90 days is really substantial
- Entrepreneurs get mentorship from hundreds of companies, goal is to help entrepreneurs leverage their network
What Happens After the Program is Over?
- Most entrepreneurs after finishing the program go on to raise about $1 million more for their companies
- One company, Classics and Exotics, has already been acquired
- Cargo went through the program last year
- Current class has a company called Gridwise: an analytics tool that helps drivers figure out where and when to drive
Want to Get Involved With Techstars Mobility?
- Ted is always looking to speak to more entrepreneurs in the mobility field – reach out to him on Twitter @tedserbinsk
- Week of January 15, applications will open up
- Detroit Auto Show is a great way to kind of get a sense of that
- Some of the most successful companies have a few things, including a good team that is well-balanced
Outro
- Big thank you to Ted Serbinski, Managing Director of Techstars Mobility for speaking with us today!
- Amazing companies like Cargo and Gridwise are coming out of this program, and one of you could be next – do you have a start up idea in the rideshare space? Techstars Mobility may be the ticket to get your business off the ground
- Follow me on Facebook, Twitter and YouTube and you can always contact me if you have questions – I like to hear from you all!
Show Notes
- Cargo
- Gridwise
- Ted’s website
- Subscribe to iTunes and never miss an episode!
- Connect with me on Twitter
If you’d like to read a transcript of this podcast, please click here.
