TriNet Teams Up with Startup Accelerator TechStars
PEO outsourcing leader joins as sponsor to give entrepreneurs a head start
SAN LEANDRO, Calif. (May 7, 2012) – TriNet, a trusted provider of best-in-class PEO services to small businesses and entrepreneurs, today announced it is joining startup accelerator TechStars to provide HR guidance and resources to help new companies fast-track their business. TechStars was recently recognized as the No. 1 startup accelerator in the world.
“For nearly 25 years, TriNet has been dedicated to helping entrepreneurs succeed, and this partnership with TechStars is a perfect pairing to help propel innovative early-stage businesses,” said Jimmy Franzone, TriNet’s vice president of corporate development. “We’re eager to share our knowledge, expertise, and one-on-one guidance to help empower and equip startups for success—as well as to serve as a trusted HR resource as their business grows.”
“The overarching goal for TechStars is to help entrepreneurs with great ideas build great companies,” said David Cohen, founder and CEO of TechStars. “To do so, we believe they must be surrounded by a diverse collection of investors and members of the business community who can offer different perspectives to help grow their business. With TriNet as our PEO sponsor, the companies going through TechStars around the country will have additional resources and capabilities in the human resources space to help them grow and develop their businesses.”
TechStars takes a mentorship-driven approach to support startups by surrounding a small number of companies with highly-engaged mentors of the local and national entrepreneurial ecosystem to coach and support them to be successful. Currently, approximately 90 percent of companies going through TechStars are either still in operation or have been acquired. Founded in 2006, TechStars includes more than 350 mentors, 1,500 investors and 120 alumni companies, including 24 TriNet clients. It is funded by more than 50 venture capital firms and 25 angel investors. The accelerator gives each company going through its program up to $118,000 and has offices in Boulder, Boston, New York City, San Antonio (its cloud-based program) and Seattle.
As a sponsor, TriNet will advise the program’s startups on managing their human resource needs, from minimizing employer-related risk and relieving administrative burden, to putting proactive strategic plans in action. TriNet will also provide a reduction in its administrative service fees for any startups that sign up with TriNet. TriNet will also host periodic educational sessions and maintain onsite office hours for direct access to TriNet advisors.
Many former TechStars startups use TriNet’s PEO services today. One such company is Next Big Sound, a TechStars 2009 company that recently raised $6.5M in venture funding. “Before joining TriNet, I was piecing together healthcare benefits, compliance certificates, payroll administration, 401(k)s and other HR services myself,” says Alex White, co-founder and CEO. “It became way too much of my day-to-day. NBS is a digital music company providing artists and labels advanced metrics to measure the success of their artists in the marketplace. We joined TriNet because, as a young and growing company, we need to make sure our employees are taken care of properly, and we don't have the resources of a massive company or internal dedicated HR team.”
Currently, TechStars is running programs in its San Antonio, Boston and New York City offices, and the next TechStars three-month accelerator program will be held in Boulder beginning May 14, 2012, followed by the program in Seattle beginning August 13, 2012. For more information about TechStars, please visit www.techstars.com.
About TriNet
TriNet is a trusted partner to small businesses, providing critical HR-related services on an outsourced basis. TriNet’s solutions help contain costs, minimize employer-related risks and relieve administrative burden to keep an entrepreneur’s focus on core business functions. From employee benefits service and payroll processing to high-level human capital consulting, TriNet's PEO expertise is integrated with every facet of a client’s business. TriNet specializes in serving fast-moving companies in fields such as technology and financial services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit https://www.trinet.com.
About TechStars
TechStars (www.techstars.com) is an elite mentorship-driven start-up accelerator, recently recognized as the No. 1 accelerator program. Founded in 2006, the TechStars philosophy focuses on deep mentorship, and surrounding a small number of companies with highly engaged members of the entrepreneurial ecosystem to coach and support them to success. The TechStars community currently includes more than 350 mentors, more than 1,000 investors and over 120 alumni TechStars companies. TechStars currently operates five programs each year in Boulder, Boston, San Antonio, Seattle, and New York. TechStars is funded by more than 50 venture capital firms and 25 angel investors. Information on applying to TechStars can be found at www.techstars.com/apply.
Contact: Matthew Meigs, 510-875-7320, matt.meigs@trinet.com
