Techstars NY More Selective Than the Ivy League

Time’s up to apply for one of the ten spots in the inaugural class at TechStars NY, the Boulder-based startup incubator that set up shop in Union Square earlier this fall.

“Applications to @TechStars in #NYC are now closed. 579 applications mean 1.7% will be accepted,” TechStars tweeted this morning.

There is no official list of who applied, but if you follow the trail of brownnosing online, you can spot a few likely aspirants. 

KartMe, a web app for organizing bookmarks, and Text-A-Cab both put in applications, judging by the amount of kissing up they did on Twitter. One entrepreneur who got an early rejection has already uploaded a video of himself making the best of it — “Why I’m happy our 2010 TechStars application was denied” — to YouTube and Reddit.

TechStars offers promising startups up to $18,000 in cash plus three months of coddling from New York’s biggest founders and investors in exchange for about a six percent equity slice, similar to the Y Combinator program that has been called “the new model” for tech investment.

The biggest draw for entrepreneurs is the all-star lineup of 87 mentors, which include Silicon Alley notables like Dennis Crowley (FourSquare), David Karp (Tumblr), Chris Dixon (Founder Collective) and Fred Wilson (Union Square Ventures).

Now Check Out: Techstars Battles Y-Combinator For NYC Talent