Techstars LA Class of 2020; What It's Like to Run an Accelerator During a Pandemic

Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

Techstars LA Class of 2020; What It's Like to Run an Accelerator During a Pandemic

When the founders who lead the ten young startups selected for the 2020 Techstars LA class begin their three month accelerator program Monday, they won't be gathering in the Mid-Wilshire office and shaking hands as every other class has done. Like the rest of us, they will be working at home because of the coronavirus. Dinners, meetings, socializing, and mentoring sessions will all be online.

"A big part of the magic of the program is the relationships that are from proximity and from everyone working together in the same space and so what we're doing is we're endeavoring to create as much as that connection in the virtual world as possible," said Anna Barber, managing director of Techstars LA.


Barber is a big fan of Post-it notes and remembers several occasions where she's helped a founder arrive at an epiphany during a whiteboard session. That will not be possible this time around, but Barber wanted to try to replicate the experience as much as possible, so last week she and program manager Alex Karevoll rented a U-Haul truck and delivered whiteboards, Post-its, markers, and snacks to the new class, crisscrossing the city from Santa Monica to Encino and East L.A.

"We wanted to bring the Techstars experience to people at home," said Barber. "It was cool to see the different parts of L.A. that people are coming from."

Coronavirus means many elements of Techstars will be different this year, though the basics remain the same; Ten startups will receive three months of intensive mentoring and then present at a Demo Day in October (which Barber still hopes will be in-person). Techstars invests $120,000 for a 6% cut of equity.

Techstars LA companies have gone on to raise an average of more than $2 million of outside capital after the program. Standouts from the previous three classes include Slingshot Aerospace, Blue Fever, Stackin, Fernish, Liquid, Dash Systems and Finli.

The health and wellness category is dominant in this year's class with teams tackling teletherapy for intersectional communities, cancer care coordination, breast milk testing to optimize infant nutrition, and remote evaluation of ADHD and learning differences. Media and e-commerce companies include an esports analytics platform, a podcasting services provider, a platform for college creatives to connect with brands, and a fashion and beauty marketplace for Latinx consumers.

Nine companies include women, Black or Latinx founders, with six in the CEO seat and there are six mixed gender founding teams. Barber says diversity has always been important for Techstars LA, both because it is vital for building the kind of inclusive ecosystem she wants in L.A. and also it is simply good business.

"I've always been a believer in the idea that diversity produces better investing outcomes," said Barber.

Barber usually narrows down the ten selections from hundreds of applicants with lots of face-to-face meetings to get a feel for founders, but this time she has met almost none of them.

"It was a challenge for me," said Barber. "I am a founder-focused investor and so much of that is about getting to know people and build a strong personal relationship with them and also understanding who they are and what motivates them and I feel like it's very hard to make those connections over video."

Despite the limitations of running a remote accelerator, Barber is trying to find the silver linings, such as being able to get speakers and mentors who would not ordinarily have the time to fly to L.A. She is also using Sococo, an online platform that simulates a virtual office.

"If you want to talk to someone, you can just enter the room in the virtual office that they are in and talk to them," Barber said. "It takes longer to build connections in a remote setting, but we can still do it," she said.

All but one of the startups in this year's class is headquartered in Los Angeles. Some like, Thrive Education, the remote provider of ADHD and learning differences, only recently relocated from the Bay Area.

"We think it's important for us to be based in LA," said Jack Rolo, Co-Founder & CEO of Thrive Education. "A lot of startups, if they have the choice, are wanting to locate outside of the Bay Area. L.A. is expensive but it's still cheaper than living in the Bay Area. It will help us have a longer runway."

Rolo is hoping to come out of Techstars in a position to raise a seed round in October. "Our product works but it's not polished just yet," he said. "We want it to be perfect."

CLLCTVE, which is the platform for college creatives to connect with brands, is relocating from Syracuse this week.

"We're very excited for L.A.," said Kelsey Davis, founder and CEO of CLLCTVE. "When you think of diversity and creativity, L.A. is a representation nationally of that space."

Davis says Techstars LA was the only accelerator she seriously considered. "For us it just felt so right," said Davis.

Davis, 23, who is Black, wore a sweatshirt during an interview with dot.LA conducted via Zoom with the phrase "Black tech. Green money" emblazoned across the front. She says she is pleased to see the tech world finally having long overdue conversations about race and she says she won't squander the opportunity. Her goal is nothing short of building a LinkedIN for Generation Z.

"Now that we're here we have to roll up our sleeves and do the hard work together," said Davis. "If I'm given half of what everyone else is given, I'm going to take it twice as far."

Get to Know Techstars' 2020 Class

Pod People

Pod People

Pod People is a full-service podcast production and staffing agency with a network of over 700 audio professionals across the globe.

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JoyHub

JoyHub

JoyHub 's enterprise software integrates multifamily operator systems into a single, centralized data platform.

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Ayana Therapy

Ayana Therapy

Ayana Therapy provides online therapy for minorities with an emphasis on intersectionality.

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CLLCTVE

CLLCTVE

CLLCTVE is a platform connecting college creatives with brands targeting Gen-Z consumers.

Contact the founder >>

Lactation Lab

Lactation Lab

Lactation Lab provides breast milk analysis and personalized recommendations for mothers to optimize their child's health and nutrition.

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Preveta

Preveta is transforming cancer care by arming clinicians with data and insights to improve outcomes, and blazing a trail for providers to deliver value-based care.

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Shop Latinx

Shop Latinx

Shop LatinX is the leading fashion and beauty lifestyle brand with products designed by and for the Latinx community.

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Sike Insights

Sike Insights

Sike Insights powers remote teams to work better together. Our first product, Kona, is an AI-powered Slackbot that helps you communicate.

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StatsHelix

StatsHelix

StatsHelix is a B2B gametech company focused on esports and streaming.

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Thrive Education

Thrive Education

Thrive Education provides remote tele-assessments for learning differences (LDs) such as dyslexia, ADHD, and autism.

Contact the founder >>


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🚁 One Step Closer to Air Taxis in LA
Image Source: Joby Aviation

🔦 Spotlight

Joby Aviation, a pioneering electric air taxi company, has achieved a significant milestone by successfully flying a hydrogen-electric aircraft demonstrator for 523 miles with only water as a byproduct. This groundbreaking flight showcases the potential for emissions-free regional travel using vertical take-off and landing (eVTOL) aircraft, eliminating the need for traditional runways. The company's innovative approach combines its existing battery-electric air taxi technology with hydrogen fuel cells, paving the way for longer-range, environmentally friendly air travel.

For LA residents, this development holds exciting implications for future transportation options. Joby's technology could potentially enable direct flights from LA to destinations like San Francisco or San Diego without the need to visit conventional airports, offering a cleaner and more convenient alternative to current travel methods. The company's progress in both battery-electric and hydrogen-electric aircraft positions it at the forefront of next-generation aviation, promising to revolutionize urban and regional mobility.

Notably, Joby Aviation has already made strides in Southern California by securing an agreement with John Wayne Airport earlier this year to install the region's first electric air taxi charger. This strategic move sets the stage for LA to be among the initial markets where Joby will launch its electric air taxi service. With plans to commence commercial operations as early as 2025 using its battery-electric air taxi, LA residents may soon have access to a fast, quiet, and environmentally friendly mode of transportation that could significantly reduce travel times and traffic congestion in the region. In the not too distant future, LA might find itself in an identity crisis without traffic and excess smog 🤞🤞.


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Fuel Innovation: 7 Unforgettable Team Building Experiences in LA
Image Source: Discover LA

In today's competitive business landscape, team building activities have emerged as a crucial tool for fostering a positive work environment, enhancing productivity, and crucially, improving employee retention. Studies have shown that such activities help employees feel valued, with one report indicating that 93% of those who felt appreciated were more motivated at work. Importantly, team building events may improve retention rates, as employees who feel connected to their colleagues and company culture are more likely to stay long-term. With these benefits in mind, let's explore some of the most engaging and effective team building activities available in Los Angeles.

Pickleball

Image Source: Modern Luxury Angelino

Pickleball is a fantastic team bonding activity because of the easy-to-grasp rules and gentle pace make it perfect for everyone, regardless of age or fitness level. The game thrives on communication and teamwork, as players must collaborate and strategize to outplay their opponents, boosting team cohesion. Plus, the lively, fast-paced action sparks friendly competition and laughter, creating a fun and spirited atmosphere that brings everyone closer together. Los Angeles boasts numerous pickleball courts that are easy to rent if you have your own equipment. If you need additional assistance organizing your pickleball outing, there are plenty of full-service companies ready to handle every detail for you.

Resources: Pickle Pop, Corporate Pickle


Escape Room

Image Source: The Escape Game

Escape rooms are a great way to build camaraderie. They require participants to work together, combining their problem-solving skills and creativity to overcome challenges and puzzles. The immersive and time-sensitive nature of escape rooms fosters collaboration and communication. Additionally, the shared experience of tackling complex tasks and reaching a common goal helps build trust and foster positive emotions among colleagues.

Resources: The Escape Game, 60Out


Day Trip to Catalina Island

Image Source: Love Catalina

Catalina Island is a perfect day trip for a team because it provides a break from the usual work environment, allowing team members to relax and connect in a new setting. Shared experiences during the trip, such as exploring new places and participating in fun activities, help build stronger relationships and foster a sense of camaraderie. There are numerous team-building activities such as an arboreal obstacle course, an island tour, scavenger hunts and more.

Resources: Catalina Island Group Activities


Top Golf

Image Source: Topgolf

Topgolf is an excellent team building event because it provides an inclusive, relaxed atmosphere that accommodates players of all skill levels, fostering personal connections and improving team morale. The unique blend of competition and entertainment creates an ideal setting for building trust, enhancing communication, and revealing hidden skills among team members. Additionally, Topgolf offers structured team building packages with guided activities, discussion prompts, and lessons on culture, change, collaboration, and strategy, making it a versatile and effective platform for strengthening relationships and boosting overall team performance.

Resources: Topgolf El Segundo


SoFi Stadium Tour

Image Source: Discover LA

A SoFi Stadium tour offers a unique, behind-the-scenes experience of one of the world's most advanced sports venues, allowing team members to explore exclusive areas like premium suites, team locker rooms, and the player tunnel together. The tour provides a shared, memorable experience that can foster camaraderie and spark conversations among team members, regardless of their interest in sports. Additionally, the stadium's state-of-the-art features and impressive architecture can inspire creativity and innovation, while the group setting encourages interaction and collaboration, making it an engaging and enjoyable activity for teams of various sizes and backgrounds

Resources: SoFi Stadium Group Tours


Corporate Volunteering

Image Source: L.A. Works

Volunteer work serves as an excellent team building activity by uniting employees around a shared, meaningful cause, fostering a sense of purpose and collective accomplishment. It provides opportunities for team members to collaborate in new ways, often revealing hidden strengths and leadership qualities that may not be apparent in the regular work environment. Additionally, engaging in community service can boost morale, enhance the company's reputation, and instill a sense of pride among employees, leading to improved workplace relationships and increased job satisfaction.

Resources: Habitat for Humanity, L.A. Works, VolunteerMatch


Corporate Improv Sessions

Image Source: Improv for the People

A corporate improv class encourages spontaneity, creativity, and quick thinking, skills that are valuable in the workplace. It promotes active listening and collaboration, as participants must work together to create scenes and respond to unexpected situations, fostering better communication and trust among team members. Additionally, the playful and often humorous nature of improv helps break down barriers, reduces stress, and creates a shared positive experience that can improve team morale and cohesion long after the event.

Resources: Improv-LA, Groundlings, Improv for the People

🎬 Paramount and Skydance Are Back On
Image Source: Paramount

Happy Friday Los Angeles! Hope you all had a fantastic Fourth!!

🔦 Spotlight

Paramount and Skydance Media have rekindled talks to merge after negotiations abruptly halted in June. The proposed deal, contingent on approval from Paramount’s board, aims to combine Paramount’s extensive media holdings—including CBS, MTV, and Nickelodeon—with Skydance’s film expertise showcased in hits like "Top Gun: Maverick." This merger signals a potential transformation in the media landscape, positioning the new entity to compete more effectively amid challenges from streaming services and the decline of traditional cable TV.

Led by Shari Redstone, Paramount’s controlling shareholder via National Amusements, the deal represents a pivot towards revitalizing Paramount’s strategic direction amidst financial struggles and shareholder concerns. The involvement of major investors like RedBird Capital Partners and David Ellison underscores the financial backing aimed at stabilizing Paramount’s operations and addressing its $14 billion debt burden. Importantly, the agreement includes provisions to protect National Amusements from potential legal challenges, addressing previous hurdles that stalled earlier negotiations.

The deal also includes a 45-day period for Paramount to explore alternative offers, highlighting continued interest from other potential buyers like Barry Diller’s IAC and media executive Edgar Bronfman Jr. This flurry of activity underscores the significant stakeholders’ interest in Paramount’s future and its potential as a key player in a rapidly evolving media industry.


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  • Sidecar Health, a startup that offers personalized health insurance plans to businesses that allow members to see any doctor and pay directly at the time of service, raised a $165M Series D led by Koch Disruptive Technologies. - learn more

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