eBay and Techstars, as part of the implementation of the cooperation program, intend to launch an acceleration initiative for companies that carry out their activities in the field of e-commerce and are at an early stage of existence.

The joint press release of the partnership parties, which was published last Monday, June 5, contains a statement that in the context of this cooperation, eBay’s experience related to promoting the development of the global trade process and Techstars’ opportunities related to investing startups are combined.

Beatrice Reyero, eBay’s global vice president of corporate strategy and investment, said that the company is pleased to establish cooperation with Techstars, which will support innovative firms whose activities are at the initial stage, and expand their capabilities. Separately, she noted that within the framework of the partner program, startups will receive assistance, the concept of which provides for the use of advanced technologies as tools for changing the landscape of e-commerce.

The press release indicates that the new Techstars Future of Ecommerce initiative from eBay accelerator is focused on companies whose methodology of work can potentially form a fundamentally new future of e-commerce with the help of innovative technologies, including artificial intelligence, Web3, new solutions related to infrastructure, privacy, and security.

Also, as part of the partner program, representatives of startups will be able to communicate with mentors, ideological leaders, and investors from Techstars and eBay. The joint initiative will have a hybrid form of implementation. This means that it will be possible to participate in the program remotely and in person, arriving in San Francisco. The implementation period of this initiative is 13 weeks.

Techstars Managing Director Colleen Wallace says that this company has already provided support to thousands of representatives of the business community who use innovative technological solutions to transform industries. He also expressed confidence that the joint initiative of the two partners will provide unprecedented opportunities for startups, since, according to him, in this case, a powerful base is being formed, consisting of eBay’s experience in e-commerce and Techstars’ proposals regarding programming, capital, and connections.

The launch of the acceleration program continues a series of innovative solutions and cooperation initiatives related to eBay. Last Thursday, June 1, the company launched a program to verify the authenticity of street clothes. In May, eBay acquired the authentication firm Certifogo. As a result of this transaction, the company has access to a technology platform that allows brands and designers to manage the life cycle of clothing.