New eBay Collaboration Helps Startups Working on Innovative Technologies

eBay is collaborating with pre-seed investor firm Techstars to support and invest in startups that are “leveraging groundbreaking technologies to redefine the ecommerce landscape.” Techstars Future of Ecommerce powered by eBay is a 13-week accelerator program designed to support startups working on “innovative technologies that will help shape the future of ecommerce.”

Techstars was founded in 2006 and has invested through its accelerators in over 3,700 companies that have a combined market cap of $99 billion. A FAQ on its website explains:

“Techstars’ primary investment is at the accelerator stage, and we also have a dedicated follow-on fund to continue to invest in portfolio companies as they grow. We make a first investment of up to $120,000 in each company at the time of the accelerator program: a $20,000 equity investment for the right to 6% in common shares, and an optional $100,000 convertible note. Techstars will also receive 6% of the Token Reserve if a company is conducting a Network Launch using distributed ledger technology (an ICO, SAFT, token event, etc).”

Techstars website also explains it offers startups the following:

• Access to Techstars resources for life.
• Acceleration in a 90-day Techstars program with intense, hands-on mentorship from Techstars mentors.
• Connections to the Techstars network of over 10,000 founders, alumni, and mentors globally.
• A wide selection of perks to grow your business.
• Access to office space at our accelerator locations.
• Demo Day, and access to future Techstars events.

eBay’s Global Vice President of Corporate Strategy and Investments Beatriz Reyero said in the eBay press release on Monday, “eBay’s purpose is to connect people and build communities to create economic opportunity for all. We’re excited to collaborate with Techstars to support and empower innovative startups that are leveraging groundbreaking technologies to redefine the ecommerce landscape.”

The Techstars-eBay accelerator program is focused on startups with innovative technologies that are shaping the future of Ecommerce, including AI, Web3, privacy, security, and infrastructure. “Participants will receive the support needed to succeed in the rapidly evolving Ecommerce market through access to mentors, thought leaders, and investors from both Techstars and eBay.”

Companies have until July 5 to apply for the program.

Ina Steiner

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.