Techstars, an organization that runs dozens of startup accelerators all over the world, is teaming up with Northeastern University’s Roux Institute to launch a global accelerator program in Portland.

The Roux Institute Techstars Accelerator will be an immersive, 13-week entrepreneurship program with the goal of helping startups accelerate their growth, attract investors, build partnerships, and (hopefully) strengthen the local startup ecosystem and regional economy.

This is Techstars’ first accelerator in northern New England.

“It’s an exciting time to be joining the northern New England entrepreneurial ecosystem,” Nancy Wolff, Techstars’ general manager, said in a statement. “Techstars was founded on the three simple principles that entrepreneurs create a better future, collaboration drives innovation and great ideas can come from anywhere. Bringing the engine that is Techstars to the larger Maine community, in partnership with the Roux Institute, will show startups why Portland can be one of the best environments for growing a business.”

The accelerator will select 10 startups from around the world that are addressing solutions in artificial intelligence, advanced life sciences and health, and data science and analytics—all cornerstones of the Roux Institute’s educational and research mission. Selected companies will receive funding, hands-on mentorship and access to Techstars’ worldwide network of investors, mentors and corporate partners on an annual basis. (In a related announcement, Northeastern University said founders who go through any Techstars accelerator are also eligible to receive academic credit from Northeastern’s D’Amore-McKim School of Business.)

Applications to the program are open from February 22 through May 12. A team that includes Techstars and Roux Institute staff, faculty, researchers, and corporate partners will make the selections.

Techstars recently posted a job for a managing director in Portland to lead the accelerator.

The program begins in September and the selected companies will be expected to relocate to Portland for the duration of the 13 weeks so they can engage in in-person (COVID-19 conditions depending) training and hands-on mentorship from faculty, researchers, investors, and from the global networks of both organizations. On Dec. 9, 2021, at the conclusion of the accelerator program, the companies will participate in a Demo Day that will be attended by investors and stakeholders.

The Roux Institute Techstars Accelerator is designed to help the companies establish connections and roots in Maine, which will drive business growth throughout the state and northern New England, according to Chris Wolfel, director of entrepreneurship for the Roux Institute. The multi-year partnership with Techstars has the potential to spur 30 or more startups through the Roux Institute, he said.

“One of our goals is to show the startups them how incredible Maine is for their businesses—to connect them with our corporate partners, mentors, and researchers, and students,” Wolfel said. “We have a talent pipeline coming out of the institute that can feed those companies and give them a reason to stay here.”

The Techstars accelerator is part of the Roux Institute’s larger focus on entrepreneurship in Portland. (In recent related news, the institute recently announced the six startups accepted into its inaugural Startup Residency program.)

Northeastern University launched the Roux Institute last year with a $100 million investment made by technology entrepreneur and Maine native David Roux and his wife, Barbara.

In 13 months, the Roux Institute has taken on 31 corporate partners that are contributing to a variety of growth opportunities including educational solutions for employees, talent recruiting through the institute’s co-op program, innovation and research collaborations, and, in some cases, vetting of startups for possible acquisitions. In October, the institute received a $100 million gift from the Harold Alfond Foundation, an investment that provides financial aid for graduate-level students, funding for post-doctoral research, and support for co-ops with Maine employers.

The institute’s goal of transforming Portland into an innovation hub has been accelerated by the recent trend of remote working, Wolfel said.

“We are seeing a spike in startup talent, founders, and tech employees moving to cities like Portland because they want to live and work here,” he said. “The pandemic has accelerated the transition of what was already starting to happen, with people accepting that their headquarters don’t need to be in San Francisco or New York anymore.”