Accelerator Will Help Launch the Next Generation of Mobility Technologies
DETROIT, MI – December 11, 2014. Fontinalis Partners (www.fontinalis.com), a venture capital firm strategically focused on Next-Generation Mobility, today announced its participation in Techstars’ newest accelerator program: Techstars Mobility, driven by Detroit. Fontinalis, in collaboration with other firms and strategic sponsors, will provide funding, mentorship, and strategic guidance to early-stage companies developing innovative mobility solutions.
Techstars Mobility, driven by Detroit, is a technology accelerator that will bring an inaugural class of 10 early-stage companies to downtown Detroit to rapidly develop and scale a new wave of mobility technologies. Techstars is a highly-competitive program with 13 accelerators worldwide, a network of over 3,000 entrepreneurs, mentors, and funders, and an impressive track record of launching successful companies. Participating companies will be able to take advantage of Techstars’ mentorship-driven immersive program, Detroit’s unique mobility ecosystem, and Fontinalis’ expertise in helping young companies across the Next-Generation Mobility landscape grow and succeed.
“It has been a pleasure developing the world’s first mobility-only focused technology accelerator in partnership with Fontinalis,” commented David Cohen, Techstars Managing Partner and Founder. “Techstars’ successes can be attributed to our mentorship-based accelerator model, and our early-stage companies will be poised to address opportunities throughout the mobility landscape with the support of Fontinalis.”
Each company will receive a $120,000 investment, three months of intensive training, and strategic guidance and mentorship. Applications for the first class of startups will be open through March 15, 2015. The program will kick off in early summer 2015 and conclude with a Demo Day on September 10th. Strategic sponsors include Ford Motor Company, Magna International Inc., Verizon Telematics, and others.
“We have worked for more than two years to bring this world-renowned program to Michigan and are incredibly excited to activate the capital and entrepreneurial ecosystems in Detroit around Next-Generation Mobility,” said Chris Thomas, a Founder and Partner at Fontinalis Partners. “For more than a century Detroit has driven innovation in mobility, and we look forward to supporting the early-stage companies taking part in this Techstars program as they continue to build on that legacy and play a role in powering the integrated mobility systems of the future.”
Techstars is the gold standard for startup accelerators. At the core is our massive interconnected network of over 3,000 successful entrepreneurs, mentors, investors and corporate partners helping the most promising startups do more, faster. With 13 programs worldwide, our mentorship-driven accelerator program funds the best companies in the most entrepreneurial communities. Since 2006, over 70 percent of the 400 companies from almost 40 Techstars programs have prospered, representing approximately $2 billion in total valuation.
About Fontinalis Partners
Fontinalis Partners, founded in 2009 and with offices in Detroit and Boston, is a venture capital firm strategically focused on next-generation mobility. The firm was founded in 2009 by Bill Ford, Ralph Booth, Chris Cheever, Chris Thomas, and Mark Schulz. Fontinalis invests across all facets of the world’s mobility systems on a stage- and size-agnostic basis. Fontinalis is not affiliated with Ford Motor Company. More information is available at www.fontinalis.com.
SOURCE Fontinalis Partners