US accelerator TechStars pulls the cloak on first London cohort

Renowned startup accelerator TechStars has taken its first steps outside of the US, welcoming 11 promising early stage enterprises to its new home in the heart of London's Tech City.

The cohort were selected from more than 1,300 applications drawn from some 72 countries, and will now take part in a 13 week programme building up to a demo day in late-September.

A number of the startups are focused on the financial technology sector, including QuanTemplate, a platform for insurers to optimise risk assessment in real-time. Others, like localised borrowing platform Peerby, have more of a social focus.

Participants come from a range of diverse backgrounds, with the final group featuring representatives from Colombia, Holland, Ireland, Serbia, Slovenia, Spain and the UK. Veteran game developers and private equity managers are among the personalities involved.

TechStars has a proven track record in the US, where it has helped nearly 200 companies raise an average of $1,600,000 (£1m) in seed funding.

It confirmed its expansion into the UK after it acquired and merged with London-based accelerator Springboard.

The startups will be based out of a new TechStars co-working space in Warner Yard backed by Playfair Capital.

Other budding ventures helping to make up TechStar's first UK cohort include VetCloud, a cloud-based practice management system for veterinary surgeries, and FeedPack, which offers companies feedback on their courier service.

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