Great news for Atlanta entrepreneurs –
Techstars Atlanta accelerator program is in full swing and is bringing new opportunities to the startup community. 2016 marks our city’s inaugural TechStars event and we were thrilled to get the chance to participate.
If you haven’t already heard, TechStars is a global ecosystem built for entrepreneurs that includes accelerators, venture capital, community programs and a global network. They’ve mentored 762 (and counting) accelerator companies to help raise over $2.04 billion in funding and $5.0 billion in market capital.
Techstars Atlanta, in partnership with Cox Enterprises, is made up of ten, carefully selected companies focusing on technologies to drive positive change in our interconnected world. For three months, these startups receive expert guidance and mentorship on their journey to scale. Hopefuls from every corner of the globe applied for the program, but these lucky few fit the bill:
When our team was approached to potentially speak with this promising group of global entrepreneurs, our answer was simple – yes. Our very own managing partner, Matthew May, dropped some startup finance and back office accounting knowledge at the Techstars Atlanta September lunch and learn.
Here’s a quick recap of main takeaways from our Techstars Atlanta chat:
# 1: Hate to be the bearer of bad news, but did you know that startups who check in with their accounting only annually have a mere 36% chance of survival? The good news? Companies that commit to a monthly financial cadence increase chances of survival to 79.7%.
# 2: 40% of entrepreneurs and small business owners say bookkeeping and taxes are the worst part of owning a business – *wipes away single tear* – but there are ways to spend less time on back office accounting and therefore more time to focus on the core of your business.
# 3: Freelancers and contractors make up nearly 15% of the workforce, with growth expected to be nearly 20% in 2020. Unfortunately, the tax implications for those transitioning into this style of work can come as a shock. Read more on our financial advice for contracting.
We care deeply for the startup community and are working hard to empower entrepreneurs to take control of their financial engine and scale faster. If you are interested in speaking with a financial expert, get in touch with Acuity. We’d love to hear about your business journey and discuss ways to grow with you.
Techstars Atlanta will cap off on November 1st with Demo Day at The Tabernacle. Be sure to save the date!