My take on Techstars Leaving Boulder — And what it means about Boulder’s Future

Almost 11 years ago to this day I remember one late night in my run-down apartment in Michigan I was googling startup accelerators. I stumbled on “The Founders”, the first and only attempt from Techstars at a sort of day-in-the-life documentary. I still remember the goosebumps I got from watching the first episode, I was immediately captivated and I stayed up into the wee hours binging the whole first season. “Look at how much energy is in the program” I thought, “so many smart people trying to solve some really important problems. And wow, look how beautiful Boulder is! It’s lush, green, and those mountains are spectacular.” 

At 24, precocious and with less than $100 in my bank account and the fresh wounds of a breakup, I didn’t know where I wanted to end up, but I knew I could do a lot worse than Boulder, surrounded all these passionate people and beautiful mountains. There was no question in my mind that Boulder was a wonderful place to start a startup and call home. 

Boulder, a new Eden?

A few months after grinding my way to a (likely begrudging) offer to be a part of The Boulder class of 2013 I arrived in my new home, ascending over the famous Rt 36 hill down into Boulder. I might as well have been entering Eden, a fresh start, and world changing opportunities. At first, walking through that hallowed ground I was terrified. I remember introductions on my first day and I was shaking so hard just saying my name and my role. But as time went on, I grew close to my class, as most Techstars cohorts can probably attest, and some of the people in the program become like brothers and sisters. Everyone was kind, supportive, and encouraging, and the greater community was full of passionate people who really wanted to see our class succeeded. It really felt like Techstars had built something of a lighthouse in the storm and froth of early stage startups. The promise was realized — come to Boulder and we will surround you with a community that wants you to be successful. 

Meanwhile, living in Boulder at the time was a dream. I was growing and I started to appreciate all of the restaurants, coffeeshops, and coworking spaces Boulder offered. And the nature — Never in my life had I access to so many hikes, trails, ski resorts, biking paths, and opportunities to spend as much time as possible outside. Boulder’s sunny weather and year round opportunities for recreation coupled with Techstars’ emphasis on founder bonding made the experience rich and fulfilling. If I close my eyes I can still feel the sun from the scorching hot sunny days of that Boulder summer. The location was as much a part of the program as Techstars itself.

And, probably the most important part — I could afford to live there on a $1000 a month contract. You read that right — Techstars paid me $1000/mo to relocate to Boulder and I took that. Even then, I went into debt just to make it work, but so compelling were the opportunities Techstars and Boulder offered, and the cost of living was so low, that I would have done it again in a heartbeat. The sad truth is living on even 5X that salary today in Boulder is near impossible. 

So when the program ended of course I stayed in Boulder. How could I leave such a beautiful place that represented so many opportunities for tech, lifestyle and living the future I wanted? I committed to the ideas I first saw in The Founders. Give first. Community. Lifestyle. People in Boulder were welcoming, generous with their time, and supportive of each other. I grew as a designer, a founder, and worked on some amazing projects, like Brandfolder, Havenly, and Meetmindful. I saw the community expand from a small, tight-knit Boulder startup community to grow into Denver and larger tech companies move to the area. I saw people start to migrate from tech hubs like the Bay to Boulder for the lifestyle. I saw co-working spaces explode, from Galvanize to We-work. So much of this can be attributed to the groundwork Techstars laid back in it’s first few years and cohorts. A community-oriented mindset. Founders who were willing to give their time. All while Boulder was shining like a beacon of lifestyle-first startup founding.

What changed?

But somewhere along the way something changed, and sheen that was on Boulder started to fade. I don’t know exactly why, but I have some theories. for one — the influx of high-net worth individuals from the Bay, Texas and New York pushed out a lot of the younger generation, people that were just like the younger me, the people that were going to start the next generation of tech products. When renting and cost of living are so expensive, how can pre-seed scrappy founders afford to live?

The community also grew more siloed. The people working for the large tech companies didn’t really interact with the startup community, and visa versa. Meanwhile, the startup scene itself struggled as investors tightened up funding for pre-seed. And much of the growth that Boulder had seen transferred to Denver, as people seemingly aged out of Boulder and went to live in the city, diluting the community effect Boulder had worked so hard to build. Meanwhile, the greater non-tech community in Boulder was souring on the tech scene, mirroring a national trend. Those that had lived in Boulder when it was a sleepy, crunchy hippy outdoors town were blaming the tech scene for the skyrocketing cost of living and corporate rents. Software companies like Facebook, Instagram, and Amazon were becoming the villians of the corporate world.

So during Covid, when my partner suggested moving back to Maryland (where I’m from), I went for it. What seemed unimaginable just a few years before, leaving Boulder for the East Coast, was now my reality. So many of my Techstars cohort, and my friends from other cohorts or the program itself, made similar decisions, either to leave for Denver or to leave for the coasts, especially those that ended up getting their startup bags.

What was left in Boulder after the higher cost of living, Covid, and migrations was a silod community of three groups. Those who had reached their successes (investors and mentors), those who hadn’t (founders), and those in the middle — well paid but completely disconnected tech workers. The first group includes wonderful committed seed investors, community members, and people who have sacrificed for Boulder. But, it was hard to ignore that there was a growing disconnect between this wealthy, funding class, and the scrappy, often younger more financially unstable group that is relied on to be the new source of startup ideation and progress. Meanwhile the tech worker group was seemingly a boon for the community — smart, driven tech workers should lead to a better startup ecosystem in general, right? The problem is they were often are isolated from the greater community; you didn’t see them at Techstars events, at networking events, or pitch events — mostly because they’re too busy working 9–5 and enjoying their good salaries. And the final group, the most important group of people who would become the next generation of founders were getting squeezed financially, driving many of them to take jobs at tech companies instead of starting new projects. If somebody did leave the cushy tech world to work on a startup, their savings and runway would not go nearly as far in Boulder as it would in Denver or in another city. 

I think this fracturing is what lead to the decline of Boulder as a world class startup leader. If Founders could no longer go there and expect easy access to funding, and survivable cost of living, and a committed “give first” community, then what elevates Boulder over the Bay or New York City? 

The truth is Boulder is still an incredible place to live. It’s truly one of the best towns in America, and I don’t see that changing. But much in the same way that Aspen will always struggle to be a hub for startups, Boulder will struggle. Is there money there? Sure. Are there young, hungry founders with excellent ideas? Of course. But will it have the gravity to pull founders from elsewhere, will it have the cost of living and community to support those founders when the are struggling and uplift them to the next level, in one of the most challenging environment for early-stage startups yet? I think those questions are why Boulder is a slightly fallen star and Techstars finally re-located.

Ultimately, learning that Techstars was pulling out of Boulder was devastating news. As somebody who’s entire life trajectory was altered and improved by the program I’m full of grief. I miss the wonderful people in my cohort and some of the wonderful Techstars community members that have made my time in Boulder exceptional. People like Eugene Wan, Aswin Natarajan, Ryan Urabe, Brad Thorson, Benny Joseph, Graham Hunter, Andy Stone, Carlos Cruz-Abrams, Cameron Hauser, Riley End, Devon Taylor, Claus Moberg, Brian Parks, Paul Arterburn, Fletcher Richman, Claus Moberg, Keith Gruen, Adam Taylor, Amy Baglan, and Julie Penner, and many others who made the program and it’s community special.

I still think one day I’ll end up in Boulder again, a child of it’s mountains returning to his roots. But growth and change is inevitable, and Boulder will still be there after Techstars, charting it’s own course.