Techstars CEO Maelle Gavet resigns due to health reasons, she has led Techstars as CEO for three and a half years.
In a LinkedIn post on Wednesday, Ms. Gavet revealed a personal history of thyroid cancer. “Eleven years ago, I underwent surgery to remove a cancerous thyroid,” she wrote. “While daily medication and regular checkups allowed me to manage the condition, recent tests indicated new nodules on my remaining thyroid.”
David Cohen, Techstars’ co-founder and chairman of the Board, will assume the CEO role. “Under Maëlle’s leadership, we’ve achieved a great deal,” Mr. Cohen said.
During Gavet’s tenure, Techstars invested in over 2,000 startups. The company’s portfolio companies raised a combined total exceeding $2.4 billion in 2023, with 322 exceeding the $1 million mark.
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Techstars’ commitment to Africa was highlighted by the launch of the ARM Labs Lagos Techstars Accelerator Program in April 2022. This partnership with a Lagos-based innovation program focused on fintech startups has seen investments in approximately 22 early-stage fintech and proptech companies across Africa.
The Vision of Maëlle Gavet
Gavet’s vision for Africa was evident during a 2021 visit to Nigeria. “We see Africa, and particularly Nigeria, as a key market,” she stated. “Our goal is to integrate into the existing ecosystem, not impose solutions from afar. We believe Lagos is brimming with hundreds, if not thousands, of potential entrepreneurial investments.”
Outside Africa, Gavet’s tenure wasn’t without controversy. Her leadership style attracted criticism, with accusations from employees and managing directors that it fostered a tense work environment, leading to a significant number of staff departures.
This was accompanied by the closure of Techstars accelerator programs in several locations, including Austin, Toronto, Seattle, Sweden, Boulder, and Norway. Notably, the Toronto program, which had a significant focus on African startups (with 40% of its investment portfolio dedicated to Africa as of September), was also shut down.
What to Know About Maëlle Gavet
Maëlle Gavet’s journey is one of ambition and a global mindset. Here’s a glimpse into her impressive career:
Early strides and education
- Born near Paris, France, Gavet’s entrepreneurial spirit emerged early. At 16, she ran a children’s party business.
- Strategically, she focused on Russian language studies, securing entry into elite colleges like the Sorbonne and Ecole Normale Supérieure.
Consulting and e-commerce leadership
- After graduation, Gavet spent six years at the Boston Consulting Group, working across several countries.
- In 2009, she took a bold step, joining OZON, Russia’s leading e-commerce platform, as Sales and Marketing Director. Her talent was recognized, and she became CEO just two years later.
- Under her leadership, OZON secured significant funding and expanded through acquisitions.
Global tech advocate and author:
- Gavet’s experience extends beyond Russia. She held high-level positions at The Priceline Group and Compass, a real estate tech company.
- Recognized as a thought leader, she’s a sought-after speaker and author of the book “Trampled by Unicorns,” which tackles empathy in the tech world.
- Gavet’s achievements garnered her recognition by Forbes, Fortune, and the World Economic Forum.
Techstars CEO
- In 2020, Gavet became CEO of Techstars, a prominent global startup accelerator.
- It’s important to note that Maëlle Gavet recently stepped down as CEO due to health reasons. David Cohen, Techstars’ co-founder, has resumed the CEO role.
Maëlle Gavet’s influence on entrepreneurs and the tech landscape is undeniable. Her story continues to inspire, and her contributions will undoubtedly shape the future of innovation.
