IVCA Profile: Tricia Martinez, Managing Director of Techstars Chicago Powered by J.P. Morgan Accelerator
The collaboration between Techstars Chicago and the J.P. Morgan Private Bank began in 2022, and has evolved to the latest Class of 2024 (click for profiles of participants) of Techstars Chicago Powered by J.P. Morgan Accelerator, which began last month. The program is dedicated to six key industries poised to tackle the most urgent challenges of our time … artificial intelligence, cleantech/climatetech, quantum information science, advanced manufacturing, biotechnology, and 5G/advanced wireless technology.
The Managing Director of the program is Tricia Martinez, an experienced serial entrepreneur, executive, and activist who focuses on driving large-scale impact through technology and innovation. Tricia has earned titles including top 20 founders of color by Conscious Company Magazine, Hispanic Entrepreneur of the Year by the United States Hispanic Chamber of Commerce, a top 100 FinTech Leader, Most Influential People in Blockchain, among others. Tricia is also an alumna of the Techstars powered London Barclays Accelerator, participating in the 2016 program with her blockchain-enabled financial services platform, Wala.
”Our upcoming ‘Techstars Chicago Powered by J.P. Morgan’ class will be the final program, and we’re certain it will be the most impactful,” said Ms. Martinez when the Class of 2024 was announced. “With the support of our partners, J.P. Morgan and NVIDIA, Techstars is investing in 24 innovative AI companies that are pushing the boundaries of what’s possible.This accelerator marks the culmination of our efforts to nurture and support the next wave of AI-driven startups, and we’re excited to see the transformative impact these companies will make.” The Demo Day for the Class of 2024 and the program will be December 5th, 2024.
The IVCA reached out to Tricia Martinez, to get background and perspective on the latest program, in the following profile.
IVCA: With J.P. Morgan’s participation, what focus shift has taken place for the Techstars Chicago program, and how did it determine the founders you selected?
Tricia Martinez: The Techstars Chicago program operates separately from the Techstars Chicago J.P. Morgan accelerator. Techstars raised an $80M fund through J.P. Morgan to support overlooked founders across multiple cities, including Chicago. For the Techstars Chicago J.P. Morgan accelerator that I lead, our focus has been on founders building innovative solutions at the application layer of AI.
We prioritize founders who have deep expertise in their industries or customer bases and demonstrate the tenacity and vision to scale their companies, all while embracing the mentorship and resources provided by the program.
IVCA: How do you interact with J.P. Morgan in partnership in this section of Techstars, what are their goals and how do those goals connect with your role?
Martinez: J.P. Morgan and NVIDIA act as strategic, but hands-off partners. They provide critical resources, mentorship, and valuable introductions to networks that can help accelerate our founders. While they aren’t involved in day-to-day operations, their support enables us to offer founders the tools they need to grow. Our mutual goal is to help founders learn as quickly as possible, open doors that would otherwise remain closed, and position them to scale efficiently.
IVCA: You’ve been quoted in a previous article about ‘eight mottos’ you focus on, along with your experience in entrepreneurial life. How do those mottos interrelate, especially as you advise the founders in Techstars?
Martinez: The eight mottos I follow are like a roadmap for navigating the entrepreneurial journey. They are drawn from the struggles, hard lessons, and wins I’ve experienced as a founder. These mottos help me stay grounded and guide others through the unpredictable path of building a company.
As I work with Techstars founders, I share these principles to help them avoid common pitfalls and embrace the mindset needed to succeed. Entrepreneurship is a continual learning experience, and I aim to pass on what I’ve learned to empower the next generation of founders
IVCA: Diversity, Equity, and Inclusion (DEI) is one of your eight mottos. Why should society and businesses embrace this, and how has it benefited your life?
Martinez: DEI isn’t just a buzzword; it’s essential for building stronger businesses and a more equitable society. Companies that fail to incorporate diverse perspectives miss out on understanding a significant portion of their customer base and, as a result, limit their potential for growth.
A diverse team brings broader viewpoints and more creative problem-solving. As a Latina founder and investor, I’ve seen how bringing in different voices leads to better decision-making and stronger outcomes. For me, embracing DEI has not only been beneficial … it’s been a fundamental driver of my success.
IVCA: What do you feel is unique in Chicago with entrepreneurs and startups, that is different than any other city?
Martinez: Chicago’s entrepreneurial ecosystem is unique because of its deep roots in key industries like supply chain, logistics, manufacturing, and life sciences. The city is filled with successful business leaders who are eager to mentor and share their experiences, creating a collaborative and supportive environment for new founders.
Unlike coastal cities, Chicago offers a lower cost of living, which makes it more affordable for startups to grow. And despite being perceived as a ‘flyover city,’ Chicago is a hub of talent, innovation, and opportunities – especially for founders looking to build impactful companies in industries critical to the global economy.
IVCA: How can the Illinois Venture Capital Association (IVCA) interact with Techstars Chicago to keep up with the latest news and participate in Demo Day?
Martinez: We’d love for the IVCA to engage with our program and founders. Our 24 teams are actively seeking feedback, pilot opportunities, and investor connections, so there are plenty of ways to get involved.
We’ll be hosting our Demo Day on December 5th, which will feature a trade show format where attendees can meet our founders, see live product demos, and learn more about each company’s journey. It’s a great opportunity for IVCA members to connect directly with founders, explore partnership opportunities, and stay on top of emerging trends in AI and tech.
Click Techstars Chicago Powered by J.P. Morgan for more information, program schedule and press releases. Check out upcoming IVCA and adjacent events by clicking here.