TechStars is accepting applications for the New York City Class of 2011, which will start in January. TechStars provides a little bit of cash ($6,000 per founder for a three-month program) and a lot of mentorship. The list of New York City mentors includes Foursquare founders Dennis Crowley and Naveen Selvadurai, Tumblr founder David Karp, VC Fred Wilson, Hunch founder and seed investor Chris Dixon, angel investor Roger Ehrenberg, StockTwits CEO Howard Lindzon, Boxee CEO Avner Ronen, BuzzFeed president Jon Steinberg, and Hot Potato founder Justin Shaffer. Jeff Clavier and Dave McClure snuck in there as well, even though they live in California.

TechStars takes a 6 percent equity stake in each startup in common stock (no board seats), and has a decent track record. Cohen and David Tisch will be running the program. They are looking for about ten startups for the initial New York City class.

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Authors: Erick Schonfeld

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