Techstars Partners With Alabama Business And State Leaders To Bring EnergyTech Accelerator To Birmingham, Alabama

BOULDER, Colo., Oct. 16, 2019 /PRNewswire/ -- Techstars, the worldwide network that helps entrepreneurs succeed, today announced the launch of the Techstars Alabama EnergyTech Accelerator. The accelerator will run in partnership with Alabama Power with support from the Alabama Department of Commerce and the Economic Development Partnership of Alabama (EDPA). Alabama Power is a southern electricity provider for 1.4 million customers across the state of Alabama and a subsidiary of Southern Company, the second largest utility company in the U.S. in customer base.

The new 13-week mentorship-driven program will provide startups in the EnergyTech space hands-on mentorship and access to Techstars' worldwide network, helping them to gain traction and accelerate their businesses for success.

The Techstars Alabama EnergyTech Accelerator will be based in Birmingham, Alabama, catering to startups addressing innovative technologies in the electrical and utility space. The accelerator will provide participating startups access to guidance from Techstars' mentors as well as leaders and experts from business and state leaders. The first year of the accelerator will run from July 2020 to October 2020, culminating in a demo day event where the participating startups will pitch their accelerated business models to investors and industry leaders.

"We're thrilled to launch our first accelerator in Alabama in partnership with Alabama Power, with support from the EDPA and Department of Commerce. This accelerator program will combine these organizations' dedication to economic development and electrical and utility innovation with our startup expertise and global network reach," said Keith Camhi, Techstars Senior Vice President of Accelerators. "Founders addressing electrical and utility solutions who join our 2020 inaugural class are poised for three incredible months of mentorship and growth."

Applications for Techstars Alabama EnergyTech Accelerator will be accepted January of 2020 through March 2020. Startups interested in learning more about the program are encouraged to contact Techstars or visit the Techstars Alabama EnergyTech Accelerator program page.

"This partnership with Techstars is an exciting opportunity that supports our commitment to find better ways to serve our customers and elevate the state," said Alabama Power CEO Mark Crosswhite. "With a world-class accelerator program, the Techstars Alabama EnergyTech Accelerator will be an important catalyst for Alabama to continue strengthening its reputation as a growth center for technology and energy innovation."

About Techstars

Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,900 companies with a market cap of $23 Billion. www.techstars.com

About Alabama Power

Alabama Power, a subsidiary of Atlanta-based Southern Company (NYSE:SO), is focused on providing innovative energy solutions to improve customers' lives. Learn more at www.alabamapower.com.

SOURCE Techstars