For Immediate Release
Contact: Kayla Keller, [email protected]
AUSTIN AND DALLAS STARTUP ECOSYSTEMS COMBINE FORCES: CAPITAL FACTORY TO EXPAND ACCELERATOR TO DALLAS ENTREPRENEUR CENTER
Austin and Dallas Startup Ecosystems Combine Forces to Lay Groundwork for Texas-wide Startup Network
(Austin, TX) – August 8, 2017: Capital Factory, an Austin-based accelerator, seed-stage investment fund and coworking space known as the “center of gravity” for entrepreneurs, announced today that it is joining forces with the The Dallas Entrepreneur Center (The DEC) to connect members with mentors, investors, and new business opportunities throughout the state.
Members at The DEC will immediately gain access to Capital Factory’s mentor network of successful entrepreneurs and investors and receive invitations to participate in hackathons and investment challenges. The new and existing members will be granted coworking access to Capital Factory’s headquarters in Austin, where last year more than 100,000 entrepreneurs, programmers, and designers gathered day and night, in-person and online for meetups, classes and coworking.
1776 UNION platform will unify The DEC and Capital Factory mentor network to facilitate “office hours” in-person or remotely via Cisco telepresence technology in each office.Through the combined network of more than 200 mentors, members have access to office hours with other entrepreneurs, investors, and corporations who volunteer their time to help the Capital Factory and The DEC communities. Mentors will be available to give advice on fundraising, recruiting, technology, intellectual property, marketing, sales, and more. It will be easy for an entrepreneur or mentor in either city to communicate seamlessly.
“Teaming up with The DEC is the first step for us in building a super connected startup megatropolis between the major Texas cities,” said Joshua Baer, Executive Director of Capital Factory. “By leveraging the strengths of different entrepreneurial ecosystems, we can make Texas the best state for startups and entrepreneurs in the US.”
“Having offices in both Austin and Dallas is a competitive advantage that lets us attract the best talent and sell into all of the large businesses based in Texas,” said Ben Lamm, CEO of Conversable, a startup company that launched at Capital Factory in Austin and expanded to The DEC in Dallas.
Austin, Dallas, Houston, and San Antonio are 4 of the 11 largest cities in the country, and connecting these cities will help to raise billions of dollars in capital and unleash thousands of diverse entrepreneurs. Texas is also home to more than 50 Fortune 500 companies, but funding has largely been untapped due to the disconnect between the entrepreneur and investment communities throughout the state.
“The DEC is excited to participate in this statewide initiative and we believe Capital Factory’s expansion into Dallas will allow entrepreneurs across North Texas to leverage the immense resources and network of their programs,” said Trey Bowles, CEO of The DEC. “We believe that by partnering with Capital Factory, we can combine the strengths of both ecosystems for the success of entrepreneurs across the state.”
“Austin and Dallas are consistently ranked as two of the top up-and-coming startup hubs,” said Steve Case, co-founder of AOL, chairman and CEO of investment firm Revolution, and creator of the Rise of the Rest platform that promotes startup hubs outside of Silicon Valley. “I’m excited to see the synergies that Capital Factory and The DEC can create to support the broader Texas tech community.”
To learn more about rates and availability, please visit: Dallas.CapitalFactory.com
About Capital Factory:
Capital Factory is the center of gravity for entrepreneurs in Texas, the best state for startups. Last year more than 100,000 entrepreneurs, programmers and designers gathered day and night, in-person and online for meetups, classes and coworking. We meet the best entrepreneurs in Austin and introduce them to their first investors, employees, mentors and customers. According to Pitchbook, Capital Factory has been the most active investor in Texas since 2013. For more information, please visit CapitalFactory.com or follow @CapitalFactory on Twitter,
About The Dec:
The Dallas Entrepreneur Center (DEC) is a 501c3 non-profit coworking space that serves entrepreneurs through providing them with the tools and resources necessary to help start, build and grow their businesses. The DEC provides education, mentorship, and community to help entrepreneurs be successful. With 9 locations across Texas, The DEC helps entrepreneurs in urban, suburban, rural, and underserved communities with training, mentorship, education, promotion, events/programs, and access to capital and customers.
1776 is a public benefit corporation that empowers startup ecosystems around the world to solve complex challenges. To accomplish this, we leverage our digital startup network, UNION; physical campuses in Washington, DC, New York City, San Francisco and Dubai; a global startup pitch competition, Challenge Cup; and deep staff expertise in regulatory issues. We accelerate connections and outcomes among startups, corporations and public institutions. For more information, please visit www.1776.vc and follow @1776 on Twitter and @1776vc on Instagram.
About The Rise of the Rest:
Revolution’s RISE OF THE REST® with Steve Case is a nationwide effort to work closely with entrepreneurs in emerging startup ecosystems. Our view is that this is the beginning of a new era for entrepreneurship across the U.S. — high-growth companies can now start and scale anywhere, not just in a few coastal cities. The effort has been praised by leading Democrats and Republicans, as well as businesses leaders across the country.