md

As Techstars retools, some former staffers say it lost focus on what made it successfulWell-known accelerator group Techstars announced a slew of changes to its operations this week, including the shuttering of some of its city-based programs. And one former Techstars managing director (MD) told TechCrunch that the move away from local fundraising for city-based accelerator programs was an error. One former managing director (MD) said that having local limited partner investors in Techstars meant that more people in those cities had a stake in its local programs. The shift away from local capital and more focus on corporate dollars meant that city-based boosters and founders were less central to Techstars’ focus, the MD said. Still, Techstars faces competition, not just from Y Combinator domestically, but from other accelerator programs in the US and elsewhere around the world.