Comment Section for Techstars’ $80M partnership with J.P. Morgan is on the rocks, employees say | TechCrunch

The webpage discusses the ongoing issues within a partnership between startup accelerator Techstars and financial giant J.P. Morgan. The partnership, based around an $80 million fund intended to support startups led by underrepresented founders, is reportedly facing difficulties due to a range of operational and strategic issues. These include disagreements over the definition of diversity, issues with program directors, high staff turnover, and a focus on returns over diversity. The future of the partnership, and thus the Advancing Cities programs it supports, is uncertain, with J.P. Morgan yet to confirm if it will renew the partnership once the initial contract expires in December. The troubled partnership is further complicated by Techstars' larger operational restructuring, which includes layoffs and the closure of accelerator programs in several cities. Despite these challenges, Techstars maintains that the program is still active and continues to invest in diverse companies.