Seven startup teams will pitch live for the chance to win one of two $20,000 prizes at the Fall 2016 AFRL Commercialization Academy Demo Day on October 26, 2016
Utica, NY – The Griffiss Institute, as a Technology Transfer Partnership Intermediary of the Air Force Research Laboratory Information Directorate (AFRL/RI) in Rome, New York, is inviting the public to the Fall 2016 Air Force Research Laboratory (AFRL) Commercialization Academy Demo Day on Wednesday, October 26, 2016 at 5:00 p.m. EDT at The thINCubator, 326 Broad Street in Utica, New York.
Seven innovative, tech startup teams from the Fall 2016 AFRL Commercialization Academy Cohort have been selected to take the stage to compete in a live pitch competition in front of an audience and a judges’ panel. The panel will consist of members from the Air Force Research Laboratory Information Directorate, Upstate New York investor community, and event sponsors. A live audience and a judges’ vote will be held, with a $20,000 cash prize to be given to each of the two winners of the two best pitches of the day.
The judges’ panel will evaluate each startup based on such factors as: the ability of the business to affect Upstate New York’s start-up ecosystem and high-tech economy, the culture of innovation that has been created within the startup due to incorporating AFRL technology, the sustainability of the solution beyond the initial startup period, and marketing strategy.
The startups were incubated by early-stage venture capital firm Wasabi Ventures, while embarking on an acceleration process to either build a sustainable startup, or enhance technology from an already existing startup, with Department of Defense intellectual property from the Information Directorate.
The Air Force Research Laboratory Commercialization Academy is a Griffiss Institute entrepreneurial education program sponsored by the AFRL/RI. The Griffiss Institute welcomed Wasabi Ventures to lead the way in the program in January 2015. The program is designed to develop entrepreneurial leaders through the commercialization of federal intellectual property in order to facilitate the growth of Upstate New York’s economy through tech startups, and potentially speed technology products back into the hands of the Department of Defense.
“The AFRL Commercialization Academy has been a super success for the local area and upstate New York, highlighting the technology within the Information Directorate and the entrepreneurial spirit in this area. Since 2014, this effort has enabled 20+ startups, and all of them are still viable companies,” says Frank Hoke, Tech Transfer Director at Griffiss Institute.
The Fall 2016 AFRL Commercialization Academy Cohort began August 31, 2016 with a kickoff event hosted by Wasabi Ventures’ Managing Partner TK Kuegler, and began with 10 startup teams commencing a 5-month commercial viability process. Each entrepreneur sought to develop and test strategies to build sustainable startups eligible for licensing, investing, and partnership opportunities.
The seven startups chosen to compete at Demo Day are:
QwikSupply – Software application company that streamlines the ordering and inventory process for electrical contractors and related suppliers.
Solaset – Peer-to-peer lending platform (P2P) that provides African homeowners and businesses with loans for solar systems.
Boxscore – Sports team management network for athletes, teams, coaches, parents, and fans to create real-time updates associated with team fees, scores, standings, rosters, statistics, benchmarks, and networking for little league, collegiate, and professional sports teams.
AerialForce – Online test prep platform for commercial drone operators taking the Federal Aviation Administration knowledge exam.
MakeIt 3D – Printing as a Service platform (PaaS) for 3D printing services of all types. The platform links consumers with customers, hobbyists, makers, designers, and inventors.
Homeparify – Web-based service that automates the collection and aggregation of operational and capital expense data on every home. When combined with property data from local Multiple Listing Services, the result is greater intelligence and better decision-making capabilities for buyers, sellers, and agents.
Sensible Spreader Technologies – Using mobile devices, wireless sensors, and cloud computing, Sensible Spreader brings operators of winter road maintenance and street sweeping fleets together in real-time through the Coverage Indication System in order to economize resources, increase safety, and decrease impact on the environment.
These entrepreneurs have received an abundance of tools and resources, including a startup educational platform that teaches the logistics of building a startup.
Attendees will also receive updates on progress from the cofounders of Spring 2016 AFRL Commercialization Academy Demo Day winners Xompass FaaS (Judges’ Choice) and OneTouchTrust (Audience Choice). Xompass FaaS provides an end-to-end solution that adds edge intelligence to industrial assets by connecting them below the control layer using the power of the cloud, while collecting, storing, and analyzing sensor data in real-time. OneTouchTrust is an identity verification and dispute resolution platform that prevents merchant fraud by using ID and biometric information.
Many of the founding team members selected for the Air Force Research Laboratory Commercialization Academy are students of the proven Wasabi Ventures Academy. This free startup education program provides participants a thorough overview of the startup world and allows them to learn firsthand from working alongside Wasabi Ventures’ founders and other successful entrepreneurs. Participants are given access to Wasabi Ventures’ network of friends, advisors, and the more than 2,000 prior graduates of the program in order to quickly connect with the startup world.
Wasabi Ventures’ approach to startup education is anchored by the Wasabi Ventures Academy. Focused around the individual, the formal startup education curriculum teaches participants about the startup world, while they work towards potentially becoming a founder of a startup.
About the Griffiss Institute
Established in 2002 by the State of New York, the Griffiss Institute is an independent 501(c)(3) entity governed by a board of directors. By partnering the Air Force Research Laboratory Information Directorate (AFRL/RI) and its technologies with private industry and academia, the Griffiss Institute is able to facilitate and grow the technology base of the Upstate New York region. The institute has created a collaborative teaming environment accessible to AFRL/RI that provides an environment conducive to the growth of technology and ideas, while creating new business opportunities.
To learn more about the Griffiss Institute, please visit www.griffissinstitute.org.
About Wasabi Ventures
Founded by Chris Yeh and TK Kuegler in 2003, Wasabi Ventures is an early-stage venture capital firm specializing in cofounding, investing in, incubating, building, and advising early-stage technology companies. Its approach allows early-stage startups to gain traction quickly through interaction with its founders. The firm is also involved in entrepreneurial education programs that move cutting-edge technologies out from leading federal, corporate, and university research labs around the world and into the market through the formation of startup ventures.
To learn more about Wasabi Ventures, please visit our website www.wasabiventures.com.