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Techstars, a global startup accelerator that helps entrepreneurs succeed, announced on Wednesday, March 22, that it is shutting down its programme in Stockholm effective immediately.
The announcement comes a week after welcoming a new cohort of 30 founders in Stockholm from various countries, including France, Spain, Estonia, and Sweden, reports Sifted.
Techstars launched its accelerator programme in Stockholm and Paris simultaneously in September 2021 after raising €126M in funding.
The decision to shut its programme abruptly has sent shockwaves in the ecosystem.