File photo / Jim Neuger
Lars Perkins
January 17, 2023
Roux Institute pulls plug on Techstars startup accelerator
Photo / Katia Dermott
The most recent Roux Techstars accelerator cohort, shown here at December's Demo Day event, was also its last.
After only two years, Northeastern University's Roux Institute in Portland is pulling the plug on the Techstars startup accelerator program launched in 2021 to instead focus on its in-house programs for entrepreneurs.
The news, first reported by Maine Startups Insider, was confirmed by Northeastern in a statement emailed to Mainebiz.
Chris Wolfel, Northeastern's associate vice president of entrepreneurship and venture creation based at the Roux Institute and a recent Mainebiz 40 under 40 honoree, declined to comment. He directed all questions to Northeastern spokesperson Marirose Sartoretto.
“We are proud of the work the Roux Institute at Northeastern and Techstars have accomplished together over the past two years. It has been a truly exciting partnership," the Boston-based school said. "Because of the rapid growth and success of the Roux Institute, we have built the capacity to scale this critical work in-house."
"We are looking forward to growing the entrepreneurial ecosystem across the state of Maine, the emailed statement added. "The Roux Institute is launching the next Founder Residency for female and BIPOC founders soon, and will welcome 10 new companies as part of the Future of Healthcare Founder Residency."
The institute also promised to offer "engaging, low-barrier entrepreneurship immersion opportunities" via "Start Summits" to be held across the state. No further details about the planned events were immediately available.
News of the break with Techstars comes a month after 10 early-stage startups in the second cohort wrapped up the program with a "Demo Day" event in Portland. Founders represented industries from women's fashion to music.
For the past two years, the Roux Techstars accelerator, led by former Google executive Lars Perkins. has helped founders take their business to the next level via a 13-week immersion program run in collaboration with Techstars, based in Boulder, Colo.
In a statement emailed to Mainebiz, Perkins expressed disappointment that there won't be a third Techstars cohort but gratitude for the opportunity to work with more than 50 founders who graduated from the program.
"For two years it has been the most rewarding job I could imagine – working with new founders to help accelerate their companies’ growth and forge (or strengthen) their connection to Maine," Perkins said. "Many of them consider it a 'life-changing' experience, with some characterizing it as the 'best experience of their life.' I admire those founders who left more secure careers and prospects to start the journey that many dream of, but few take."
Perkins also said he believes strongly in the Roux’s integration of entrepreneurship into its academic programs and that he's optimistic about prospects for the latest group despite today's challenging financial environment.
Northeastern has been a great partner, and the more than 50 founders we've graduated will continue to be part of the Roux and Techstars families," Perkins added. "Building the Portland tech ecosystem will be a marathon, not a sprint. I believe strongly in the Roux’s integration of entrepreneurship into their academic programs, and personally look forward to staying involved in whatever role we can to support their many other entrepreneurial initiatives."
Perkins declined to say what he plans to do next. He recently told Mainebiz in an interview at the Roux campus that he found Maine's startup ecosystem to be more robust than he had expected, noting, "I think the Roux is a big part of that."
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