AccelerateBaltimore Announces 8th Cohort For Seed Accelerator
BALTIMORE, Jan. 10, 2019 /PRNewswire/ — The ETC (Emerging Technology Center), Baltimore City’s award-winning technology and innovation center, announced today that, six companies have been selected to participate in its AccelerateBaltimore™ (AB) 2019 program. Initiated and funded by the Abell Foundation, to date AB has supported 41 companies that have raised over $22.3 million in funding and created 125 jobs in the city. The 2019 cohort includes:
Blood Sweat & Gears – BSG has invented the first ever automated granular product dispenser for both residential or commercial use to spread salt or ice melt on walkways, driveways, and paths during the winter months. BSG’s spreader can also work with seed, feed, and fertilizers for year-round use.
Gami – A monthly origami subscription for beginners. Subscribers receive a pack in the mail every month with a curated instruction booklet and a range of origami papers. The booklet has a series of diagrammed instructions as well as scannable video instructions that users can watch for more help.
Mojoe Brewing – The mojoe™ Coffee Maker is a travel mug-sized, single-serve portable brewer that heats any temperature water and uses proprietary K-cup-like coffee capsules (or one’s own coffee grounds) to brew fresh coffee directly inside of the device. When done brewing, the mojoe™ Mobile Brewer is also used as a mug so that the user can drink the brew directly from the device.
ReVased, LLC – An online marketplace to repurpose flowers from one wedding to another. The marketplace will save beautiful, expensive flower arrangements from being thrown away after the event by connecting brides to local florists, brides to other brides, and brides to local charities.
Spotswash, LLC – An app-based waterless car wash and detail service that contracts with residential and commercial buildings with parking garages to wash tenant’s cars while they sleep at night or work during the day.
Vagrant Coffee – An app based, completely mobile, deliverable cafe on wheels. Customers will have the opportunity to request a cafe to come to their location and a “carista” will arrive with a custom espresso bar built into the back of a MINI Cooper.
“ETC and AccelerateBaltimore are pleased to announce this year’s cohort of passionate entrepreneurs ready to solve problems and make a difference in the city of Baltimore,” said Deb Tillett, president of ETC.
Each of the six companies will be awarded $25,000 in seed funding and 13 weeks of programming provided by the ETC. AB aims to close the gap between innovative ideas and the ability to get to market quickly. This year’s program will be based on the bestseller “Burn the Business Plan – what great entrepreneurs really do”, written by Carl Schramm, former President of the Kauffman Foundation. Each week, there will be a session with a successful entrepreneur speaking to one of the 12 key concepts of the book, from their personal point of view. Tillett says, “Good Companies Don’t Happen Overnight, it is all about iteration and the first idea is seldom what made the company: is one of the best examples of the great advice in this book.“
In addition to the seed funding, these companies will receive access to over 16 mentors, ETC’s IncubateBaltimore program, weekly hands-on sessions with guest speakers and executive coaching from Leslie Woodward. The cohort will also have access to local investor readiness tool Pitch Creator, a course for entrepreneurs to learn and workshop how to create a pitch to investors.
After 13-weeks, one AB company showing the greatest promise will be awarded an additional $100,000 following the successful completion of the program. Last year, the additional funding was awarded to IsItGood, A social discovery and personalized recommendation platform for podcasts that lets users keep up with what their friends are listening to and find their next favorite podcast.
“Congratulations to this year’s cohort on being selected to participate in the AB program,” said William H. Cole, president and CEO of the Baltimore Development Corporation (BDC). “Baltimore City has a vibrant start-up and tech community and BDC is proud to support ETC in providing the right climate and resources for start-ups to succeed, attract capital, grow their business and create employment opportunities for city residents.”
The AB program ends in April with Investor Pitch Night, an event hosted by ETC and attended by angel investors, venture capitalists, the press, and the Baltimore tech community at large. Companies that have successfully graduated from AccelerateBaltimore include FactoryFour, Founder’s Approach, Brinkbit, Allovue, Arbit, Barttron, Sonavi and ClearMask.
The ETC, a venture of the Baltimore Development Corporation, is a 501(c) (3) technology and innovation center focused on growing early-stage companies. The ETC provides four programs for entrepreneurs: a tech-focused incubator,IncubateBaltimore; a seed accelerator program, AccelerateBaltimore; a co-working space open to innovative individuals and teams, BeehiveBaltimore; and a 9-week idea boot camp powered by COSTARTERS, PioneerBaltimore. The ETC promotes economic development, providing business, technical, and networking connections to help these companies grow. Since 1999, the ETC has provided assistance to over 500 companies, 70% of which are still in business, creating more than 2,500 jobs and raising more than $2.4 billion in outside funding.
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SOURCE ETC (Emerging Technology Center)