Techstars is the original mentorship-driven, pre-seed accelerator and venture firm. It bets on founders above all else ('team, team, team') and on its 'Give First' network of mentors, alumni and investors as the real product. The deck only matters as a vessel for a story: Techstars wants a tight narrative, a deeply understood problem, real momentum (not vanity metrics), and a team that is coachable and can execute. Under David Cohen's 2024-2025 'better, not bigger' refresh, it deliberately runs smaller classes (~8 vs ~12) and recommits to backing amazing founders at the earliest stage.
A real, fully understood problem that is valuable to customers — articulated so the investor immediately grasps why it matters. Open with the problem, not the product.
“Focus on the problem and make sure that you have a real, full understanding of the problem.” — Top 10 Learnings From Working with Techstars Founders
“Identify what is valuable to customers. Explain why investors should care. Explain why the customer should care.” — Nicole Glaros
“The likelihood of you having success after 10 conversations is extremely low.” — Arthur Parens
“The pitch deck is just a vessel for a story.” — Tim Grace
A solution shown rather than described — visual, concrete, and obviously making the problem go away. Avoid forcing the audience to imagine what your product does.
“Too many startups stand up on stage and tell the audience what they do to the point where the audience has to imagine what the product actually does - instead show them!” — Master Your Pitch - Techstars Entrepreneur's Toolkit
“People will listen, or they will read. They will not do both.” — Gabrielle Rudd
“It is a means to the end, not the end.” — Tim Grace
A bottom-up market sizing (not a top-down headline TAM) that shows real thought about the opportunity, ideally pointing at a very large addressable revenue.
“Use a 'bottom-up' calculation. Aim for at least $20B in potential annual revenue.” — Techstars Fundraising Series: Prepping Your Materials
“During your pitch you want to find a way to communicate to investors that there is an opportunity in the market.” — Nicole Glaros
“Market Size (TAM)” — Techstars Fundraising Series: Prepping Your Materials
Evidence the team can execute — momentum and velocity, not vanity metrics. At pre-seed, paid pilots and customer commitment matter more than raw revenue; SaaS investors look for velocity like ~20% MoM growth.
“Paid pilots, even with discounts, are crucial as they demonstrate customer commitment and product validation.” — Techstars Fundraising Series: Prepping Your Materials
“Revenue, while a positive signal of sales capability, isn't the top priority at pre-seed.” — Techstars Fundraising Series: Prepping Your Materials
“Chasing after vanity metrics can actually direct you in the really wrong direction, where you think that you're making progress, but actually you're spinning your wheels.” — Nick Culbertson
“This is all about derisking the opportunity for the investor by putting some data around your progress and showing the investor your team can execute and perform.” — Nicole Glaros
The team is the single most important factor. Techstars backs founders who deeply understand their market, are coachable, and can execute — 'team, team, team.' A creative, complementary team that takes feedback wins.
“We reconnected with our core mission as investors in amazing founders and made sure everyone across the company could stand behind it.” — One Year Back as CEO: What We've Built, and Where We're Headed
“If you're creative talking about your team, the message you're conveying to the audience is: imagine how creative we could be building a company and overcoming challenges.” — Nicole Glaros
“Founders are our customers, and everyone else we work with is a partner.” — David Cohen
“We don't want to hear a script. We can tell that you're reading.” — Gabrielle Rudd
A clear explanation of how you make money, plus go-to-market — included as standard slides in the Techstars deck flow. Revenue and customer frequency are the two metrics that apply to every company.
“There's only two metrics that apply to 100% of companies. And one is, how much revenue do you have... And the second is how frequently you're talking to customers.” — Top 10 Learnings From Working with Techstars Founders
“Business Model” — Techstars Fundraising Series: Prepping Your Materials
“How much money have you raised or how big your valuation is... that's not an indication that you are solving a problem.” — Nick Culbertson
An honest map of direct and indirect competitors — both large incumbents and seed-stage startups — with a clearly articulated unique wedge and moats.
“Include direct and indirect competitors, both large enterprises and seed-stage startups. Clearly articulate your unique wedge.” — Techstars Fundraising Series: Prepping Your Materials
“Competition & Differentiation” — Techstars Fundraising Series: Prepping Your Materials
“You've got to be interesting.” — Tim Grace
A credible picture of the future once your company has won — articulated through vision and momentum. Techstars itself frames timing as part of momentum and the broader 'what does the world look like' question.
“What does the world look like when that has happened?” — Why Most Pitch Decks Don't Work, and How to Make Sure Yours Does
“When we say momentum, we don't always mean revenue and user traction.” — Tim Grace
“Vision & Mission” — Techstars Fundraising Series: Prepping Your Materials
An ask tied to the milestones the money will reach, not a line-item budget. Always ask for something — founders are salespeople — and frame the raise around getting to the next important milestone before the money runs out.
“Where do you expect that money to take you?” — Why Most Pitch Decks Don't Work, and How to Make Sure Yours Does
“will they be able to get to a milestone that's important by the time this money runs out?” — Tim Grace
“Remember, the day you decided to become an entrepreneur is the day you decided to become sales people, so ask for something.” — Nicole Glaros
“Founders are our customers, and everyone else we work with is a partner.”
“Too many startups stand up on stage and tell the audience what they do to the point where the audience has to imagine what the product actually does - instead show them!”
“The pitch deck is just a vessel for a story.”
“Focus on the problem and make sure that you have a real, full understanding of the problem.”