BOULDER, Colo., March 28 /PRNewswire/ -- TechStars, the entrepreneurial program that will jump-start 10 new companies in Boulder this summer, has pledged to donate 1% of its overall equity to the Entrepreneurs Foundation of Colorado (EFCO).

With the deadline for applications approaching on March 31, the entrepreneur teams will be selected from the best ideas submitted by nearly 300 new company founders, all vying for up to $15,000 in seed capital, access to national industry experts, and the chance to pitch their ideas to investors in August.

The for-profit TechStars takes a 5% equity stake in each of the 10 start-up companies, and will donate 1% of those shares to the non-profit EFCO.

"We're vested in the success of these companies," said David Cohen, TechStars executive director. "TechStars' and EFCO's mutual goals are to instill the value of giving back, and to engage companies early on to become part of Colorado's entrepreneurial ecosystem."

"Profits and philanthropy should work hand in hand, and be part of every business model," said Brad Feld, Foundry Group managing director and one of the founding trustees of EFCO. "Our investment approach with TechStars reflects this ethic."

TechStars was founded by several of the region's most prominent entrepreneurs: David Cohen, David Brown, Brad Feld and Jared Polis. The winning applicants will have access to everything from office space to technical, operational, financial, marketing, sales and legal advice from the best entrepreneurial minds in the country.

Sponsors and supporters include CTEK Angels, Cooley Godward Kronish, ViaWest, Metzger Associates, the University of Colorado and Denver University.

For more information, visit http://www.techstars.org and http://www.efcolorado.org

Posted in: Press Releases