DETROIT – Techstars Mobility announced Wednesday four new partners for Techstars Mobility for 2017: Next47 (division of Siemens), Bosch, InMotion (powered by Jaguar Land Rover), and AAA. In addition, Mighty AI, is opening an office in Detroit operating out of the Techstars Mobility office.
The four new partners join existing partners Ford, Verizon, Dana, Honda, Munich Re, and Michelin. Together, these 10 corporate partners are helping mobility entrepreneurs from around the world succeed in building business transforming the future of mobility. Over the last 18 months, we have invested in 22 companies from around the world, including the United States, Canada, and Chile. Those companies have raised over $20 million and are valued at $100 million.
On July 17th, Techstars will be announcing its third class with companies coming from Tel Avi, Munich, Dubai and across the United States.
“As we go into our third program, we have a proven model of combining entrepreneurs with corporations and capital to drive success and grow the local Detroit community in the process,” said Techstars Mobility Managing Director Ted Serbinski.
“Mighty AI is transforming the future of AI offering training data as a service. Having raised nearly $30 million from Foundry Group and Intel, Mighty AI sees the importance of being tied into the Detroit entrepreneurial community,” he said. “Not only will they be working existing and new customers across Michigan more closely but they will be actively mentoring the incoming 2017 class. Mighty AI joins Oblong and Mapbox which both have opened offices in Detroit out of the Techstars Mobility office.”
According to the Michigan Venture Capital Association 2017 Research Report, the are 141 active venture backed startups in Michigan, nearly 50 percent increase in the last 5 years. A number of these are Techstars startups, including Lunar and SPLT, part of the 2015 class of Techstars Mobility that both relocated to Detroit from NYC.
“As we look to the next five years, I’m excited that our program is operating at the intersection of Detroit’s 2 biggest strengths: its automotive dominance and entrepreneurial resurgence,” Serbinski said. “The next celebration of this will be our 2-day demo on Oct 18 and 19.”
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