Maëlle Gavet quit as Techstars CEO after working there for three and a half years.
She led important activities and handled many problems during her time.
On her official social media page, she made an emotional post and listed health issues as the main cause of her resignation.
According to the Bendada website, Gavet disclosed she had been a thyroid cancer survivor for eleven years after being diagnosed with the disease through surgery.
Pursuing her proactive approach to her health and strictly adhering to her medication and checkups, recent examinations revealed new issues with her thyroid.
Which led her to focus on her health instead of the strenuous position.
Besides health-related issues, her resignation also coincides with her leadership style and other organizational changes brought about under her tenure.
Together they decided to step down from the leadership position of Techstars.
Thus ending her strong contribution to the company.
Health concerns prompt resignation
Maëlle Gavet decided to quit the position of CEO of Techstars, citing health issues in her LinkedIn post.
She also talked about thyroid cancer which she had been battling with and which she underwent surgery for eleven years ago.
Although she administered the illness with daily medication and periodic check-ups, new tests revealed new related issues concerning the thyroid.
This has made her focus on her health rather than the rigours of her job which has been the trigger for her decision to relinquish her position at Techstars.
Leadership transition
According to the Techcrunch website, after the resignation of Maëlle Gavet, the position will be held by David Cohen, co-founder of Techstars and the current chairman of the Board.
When asked about Gavet’s departure, Cohen, who has been heavily involved in Techstars since its early days, noted that she achieved a great deal during her time at the company.
He also saw himself as capable of leading Techstars to the next level of its growth and development.
This transition is meant to maintain organizational stability in leadership and address some problems that persist in the organization.
Cohen’s assumption of the CEO position is significant as the company seeks to chart its way forward under his experienced leadership.
Achievements under Gavet’s leadership
Maëlle Gavet brought improved growth and expansion in the support of startups across the globe as the CEO of Techstars.
In charge of the company, she oversaw its investments in more than 2,000 startups.
These investments led to funding rounds of more than $2. Combined, they will spend 4 billion of them in 2023.
These accomplishments demonstrate the significance of Techstars in supporting young talents and fostering innovation in varied fields.
During this period, Gavet’s advice reassured Techstars that it was dedicated to helping startups grow and creating environments that encourage innovation across the world.
Africa and global markets
During Gavet’s tenure, Techstars embarked on several strategic moves to increase the organization’s footprint within growth markets, especially in Africa.
For example, the ARM Labs Lagos Techstars Accelerator Program, launched in 2022 in partnership with a Lagos-based innovation hub, targeted fintech and proptech startups throughout Africa.
Gavet stressed the need for various businesses to adopt the ecosystem and empower local enterprises for long-term economic progression.
Controversies and organizational challenges
Gavet’s leadership at Techstars was controversial. Her style made the workplace unpleasant.
Employees were unhappy and many left, especially the managing directors.
There were also issues with the company’s culture and how people got along.
Techstars stopped running many accelerator programs worldwide, like in Austin, Toronto, Seattle, Sweden, Boulder, and Norway. People criticized these decisions.
Closing the Toronto accelerator, which supported African startups, made people question if Techstars still supports regional entrepreneurship.
Leadership transition at Techstars
Maëlle Gavet quitting as Techstars CEO is a big change. People talked about what she did well and the problems she faced.
Now, David Cohen leads Techstars. They still want to help startups worldwide grow and do well.
Gavet did a lot to make Techstars successful worldwide and solve tough problems for startups.
Her work will shape Techstars in the future too.
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