NEXUS-NY Blog


Micatu Changes the Way the World Senses with Light

Micatu: Upstate New York’s Next Generation Optical Sensor Company

Micatu Co-founder & CEO Michael OshetskiNew York native, Michael Oshetski, is proud to be an entrepreneur. As the CEO of Micatu, Mike speaks with passion about his company and plans to not only revolutionize optical sensor technologies, but create high-paying jobs for the Southern Tier region.

A recent semifinalist in the 76West Clean Energy Business Competition, Micatu provides next generation optical sensor technologies that create more efficient and sustainable measurement capabilities in the areas of smart grid, wind, power, transmission and aerospace. Micatu combines these technologies with engineering, manufacturing and OEM professional services anchored on the team’s more than fifty-years of optics experience.

“I was born and raised in Chemung County and went to RIT. I’ve started this company out of my garage. It would be an honor to move forward in the 76West competition. If a company from the Southern Tier wins, we all win. There’s no better time than right now to do business in New York,” beamed Oshetski.

Micatu was founded in 2011. Oshetski and co-founder Atul Pradhan were sitting in an airport in Hong Kong. Mike turned to Atul and said, “You wanna start a company?” It was as simple as that and the duo hasn’t turned back since, stating they have incredible achievements over the last five years. Micatu now strives to do what the Internet did for communications.

“Some people said we were crazy. Others called us brilliant,” laughed Oshetski. “So in the true spirit of being entrepreneurs, we took a calculated risk that, so far, has paid off. Everyone starts somewhere, and I believe as long as you’re passionate and true to your values, you’ll be successful.”

Micatu Seeks to Create High Paying Tech Jobs for the Southern Tier

Over the course of five years the company has already surpassed major milestones moving from Mike’s garage, to IncubatorWorks in Painted Post, NY, and now occupying a 10,000 sq ft facility at the IST Center in Horseheads, NY.

Already employing 20 people, Oshetski said based on demand for the technology and the company’s sales forecast, Micatu is ready to expand once again. The Micatu team is projecting to hire at least one new employee each month for the next five years and expand operations to a 70,000 sq ft facility in Chemung County. Oshetski said recent company developments will help them achieve this growth.

“Micatu is on the frontline of smart grid and distribution grid technology, putting us in a great position to grow threefold in the coming years. With more orders at larger volumes coming in, we’re under the gun to scale production quickly. We’re also shipping internationally now,” explained Oshetski. “We’re ready to create more high-paying tech jobs in the Southern Tier, and proud to know for every one job we create, five additional jobs are created for the community based on the Jobs Multiplier Effect.”

Micatu Optical Sensor Technology

The Need for Integrated Volt/VAR Optimization (IVVO)

When electricity is delivered to a customer’s home or a business, it must be delivered at a level between +,- 5% to remain within ANSI standard C84.1-2011 regulations. On a 120V system, this range is defined as 114 volts to 126 volts to ensure all electrical devices can operate properly. Most utilities address this challenge by over producing energy to ensure the high end of the voltage range is maintained.

“Utilities face both a legislative and operational challenge of ensuring they are delivering  efficient voltage within this range when it arrives at the customer’s home or business,” said Oshetski.

Overproduction of energy increases distribution losses and increases requirements for peak demand production. This problem is further exacerbated by the introduction of renewable energy generation which further leads to grid instability.

What the Micatu team was able to discover is utilities are actively seeking deployment of Integrated Volt/VAR Optimization, which allows them to control the voltage on the distribution grid and produce what is actually needed for each feeder circuit.

Micatu is Revolutionizing Optical Sensor Technologies

Focused on making the power distribution grid smarter, Micatu’s technology hangs on the power grid and measures voltage and currents very precisely. This helps the distribution grid to become more efficient, and enables analytics and integration as renewable power sources.

“Deployment of Micatu’s sensors for Integrated Volt/VAR Optimization typically results in a 1% energy savings for each 1% in voltage reduction. Micatu provides a cost effective solution, which is also one of the most accurate solutions for measurement of voltage and current on the smart grid today,” said Oshetski.

He continued to explain how over time, more renewables and co-generated sources will cause the grid to be less stable. Micatu technology was created to provide greater stability, allowing operators to figure out how much energy the grid is making, as well as calculate the demand.

Oshetski is now preparing to share this insight with the high-tech optical ecosystem at the 2016 Annual NFOC Communications Conference. Invited by leaders of the telecom and communications industry, he said he looking forward to talking about next generation of optical applications that will fundamentally create a new industry for optical sensing solutions.

“It’s exciting to see how Micatu’s optical sensor technology can have a big impact on the efficiency of power transmission and generation on our power grid. We have the potential to reduce greenhouse emissions, lower operating costs for utilities and ultimately savings for the end users,” said Oshetski.

The NFOC Communications Conference will take place on September 21-22 at the Turning Stone Casino and Resort.

Micatu Graduates from NEXUS-NY with Go-to-Market Products, Services

Something that sets Micatu apart from other companies is the startup’s two-pronged business model. In addition to offering a product, Micatu’s experienced consulting team knows how to take their product and make it solve problems for other companies. Oshetski said these professional business services are inherent to their product.

“Not every customer is the same and some require a unique solution,” he said. “Micatu provides additional value add services by integrating our technology into the final solution. This process saves millions in kw of energy, which in addition to being efficient, is good for the environment. We’re very much linked to making the environment more green.”

This connection to sustainability made Micatu a perfect match for the NEXUS-NY Clean Energy Seed Accelerator. As a proof-of-concept center in partnership with High Tech Rochester and partially funded by NYSERDA, NEXUS-NY helps catalyze the commercialization of early-stage technologies across New York state. During the NEXUS-NY program, Micatu was challenged to develop their idea into a technology for condition monitoring in wind turbines. To achieve this, Oshetski said the team focused on verifying their concept by talking to the end user.

“NEXUS-NY was a great learning experience and a huge value add to our company, said Oshetski. “We learned that just because we had developed a better widget, it didn’t mean that people were automatically going to buy it. The customer discovery process triggered a pivot, which required us to concentrate on the points that made sense in the industry.“

Now as a graduate of the NEXUS-NY accelerator, Micatu continues to use 3rd party testing to confirm the performance of their technology in partnership with NYSERDA and the National Renewable Energy Laboratory (NREL).

“We’re very proud of our progress. What takes big companies years to complete, we’ve managed to achieve in less than five as a small company with limited resources. Plus, Micatu hasn’t taken funding from any outside investors, and we’ve been cash flow positive since day one,” said Oshetski. “This didn’t come from having the best business plan in the world, because in our field business plans are outdated before they are complete. We’ve been able to do this by carefully forecasting our revenue and acquiring the employees needed to fulfill our orders. There’s nothing more to it. It’s a simple equation with a lot of points.”

Micatu Strives to Enhance New York’s High-Tech Ecosystem

Micatu also attributes this wave of success to support from the community at all levels. “Small business can’t do everything on their own, but when we work together, we can,” he said.

As our call came to a close I could hear Mike’s kids (5, 2) laughing in the background. Yes, in addition to building a successful startup, Mike has also been busy starting a family, But regardless of the challenges, Oshetski said he’s excited about the opportunity to bring more technology jobs to the area and build something bigger than himself.

“We can make the community better, and that starts with good paying jobs,” he insisted. “Right now Micatu pays more than the industry average and we’re proud of that. We inject a significant about salaries each month into the southern tier.  We have a great team of dedicated employees and we’re achieving this success together, for our families and our community.”   

For more details on this company, take a look back at NEXUS-NY New Energy Magazine.

HTR Demo Day Featured NEXUS-NY’s AMBIS Technologies and American Fuel Cell

A premier showcase of entrepreneurial talent, ten startups shared company successes and stories about how High Tech Rochester programs helped advance their success.

Innovate. Incubate. Grow. Helping Entrepreneurs Build Successful Companies

High Tech Rochester (HTR) is a nonprofit whose mission is to catalyze entrepreneurship and innovation-based economic development throughout the Finger Lakes region.

During the HTR Demo Day 2016, a handful of promising startups associated with High Tech Rochester showed of their services and products to an auditorium of ecosystem supporters at Hatch Recital Hall at the Eastman School of Music. In his introductory remarks, Jim Senall, President of High Tech Rochester, said HTR and its affiliate programs have assisted over 850 startups and small manufacturing firms over the past five years.

Screen Shot 2016-06-18 at 5.03.14 PM“We know that startups and new businesses are what really create the most net new jobs in our country, so we know that to create jobs longer term you should be creating more startup companies in the shorter term,” said Senall.

Senall continued to say, while startups aren’t always visible to the public, there are many good things happening within our community and at HTR.

HTR provides a full suite of services, including technology commercialization for very early stage companies, business incubation for high growth potential startups and growth services for existing manufacturing companies seeking to improve their top and bottom line performance.

Screen Shot 2016-06-18 at 5.04.04 PM“High Tech Rochester helps bring many of the innovations that come out of the area universities from the inventive mind of our community,” said Mike Riedlinger, HTR Program Manager of Technology Commercialization. “So based on their ideas and their views of things that could be, we can help them craft new business opportunities that really enrich all of the economy for the area.

One of the standout programs under the HTR umbrella is the NEXUS-NY clean energy proof-of-concept center lead by Doug Buerkle.

Buerkle explained how the audience had a chance to hear from two NEXUS-NY graduates. Both AMBIS CEO Mae-ling Lokko and American Fuel Cell CEO, Dan O’Connell presented updates. Buerkle said both are doing very well.

“The goal of NEXUS-NY is for companies to demonstrate that their technology works, that they also sort out their business models and that they work towards 3rd party validation. In Dan’s case he has attracted an MOU (memorandum of understanding) from a leading customer. His samples are in that customer’s hand and they are currently testing them, so we are hoping he’s going to have a large purchase order here in the next few months,” added Buerkle. “Mae-ling is also doing fantastic. She announced today that she has installed her system in a leading architecture firm in NYC, and her first commercial customer in Ghana is placing orders and starting to build those units.”

AMBIS Technologies Pivots to High Premium Product

AMBIS s a building technology company that upcycles materials from agriculture in order to condition our air. The startup does this by leveraging one of the world’s most underutilized material resources – waste from the bio industry.

AMBIS Technologies CEO Mae-ling Lokko explained during High Tech Rochester Demo Day that today’s building consume 40% of all our world’s energy – ahead of transport and industry. These buildings spend over half of that energy to condition air. This means that 20% of all our energy goes into heating, cooling, drying and pumping air through hundreds of miles within our buildings. Using AMBIS Technologies’ building panels and systems, air is dehumidified and filtered de-centrally, providing a more elegant and more energy efficient solution.

Screen Shot 2016-06-18 at 5.02.55 PMSince graduating from the HTR NEXUS-NY program, Lokko announced, “AMBIS Technologies has pivoted from a commodity fiberboard product into a high value premium product that is able to offer air mediation, acoustic performance, and all the while looking pretty cool.”

She continued to explain how the NEXUS program became a critical platform for her company to identify partners and tap into the extensive mentorship and business expertise of the program, which have all added to a strong foundation for her company to grow and pivot many times. By maintaining these relationships after graduating from NEXUS-NY, AMBIS continues to develop, eliminating a lot of potential materials and applications, as well as sharpening their value proposition.

“Today our business model reflects the strength of the Upstate New York ecosystem that we built and accessed through NEXUS,” said Lokko. “Over the next year, AMBIS looks to raise about $250,000 to build a prototype for our base catalogue, and deploy within critical building testbeds throughout the world in order to demonstrate our value proposition – all the while doing so with beautiful clean materials that can impact building energy consumption.”

The AMBIS team has also continued to grow. Nina Wilson recently came onboard as a co-founder and CTO of the Troy, NY-based startup.

“What we’re really looking to do at this stage is to embed maximum performance into panels and approach a distributed modular all-in-one system framework through which to employ technology transfer and really increase the value proposition for the building systems,” added Wilson.

In addition to installing a 100 sq ft wall packing system at CASE in Skidmore, Owings & Merrill Office in New York City with funding from High Tech Rochester’s NEXUS program, this August AMBIS will deploy their system in a testbed in Ghana. Working with the Rensselaer Polytechnic Institute’s Center for Architecture, Science and Ecology (CASE) in conjunction with ongoing work with a leading private foundation, this testbed aims to test the system’s air remediation performance within a Net Zero testbed. AMBIS has also secured project with a first client, and the team is deploying their systems in commercial, high-end luxury applications in early 2017.

“We really wish to thank Doug Buerkle, Allison Yacci and Mike Riedlinger, as well as Jim Senall and the High Tech Rochester team who have opened up their extensive network over the past year and half. They helped us realize the first of many steps in fulfilling our company’s mission,” said Lokko.

Harnessing Local Resources to Make Rochester the MEA Manufacturer of the World

American Fuel Cell is the premier supplier of individually tailored Membrane Electrodes Assemblies (MEA) for multiple fuel cell applications. Noted for bringing high tech fuel cell jobs to Rochester, NY, the clean energy startup aims to power the future by creating cheaper, more efficient and more practical cells.

Dan-OConnell-American-Fuel-Cell-Presentation-1

Dan O’Connell, CEO of American Fuel Cell presents at HTR Demo Day 2016.

“How a fuel cell works is pretty simple,” explained American Fuel Cell CEO Daniel O’Connell. “As long as you have hydrogen on one side of the membrane and you have air, which is oxygen, on the other side, it makes clean, efficient electricity, and that’s a really good thing. When you make that electricity the only byproduct is heat and water. So our goal is to bring fuel cell jobs to Rochester leveraging local resources.”

O’Connell and American Fuel Cell co-founder David Wetter, both worked at General Motors’ Honeoye Falls fuel cell vehicle lab until GM moved its fuel cell research work to its Michigan powertrain facility. O’Connell shared at HTR Demo Day that when GM closed its research facility, they thought a majority of the people who were working there would move to Michigan.

“What they didn’t understand is that Rochester is a great place to live and work, and we have great quality of life here. So it turns out that only a small percentage of those people decided to move to Michigan, said O’Connell. “What that means is we have a wealth of fuel cell expertise, a supplier network, and some really excellent resources right here in Rochester. To me that’s an amazing opportunity for all those resources to be utilized.”

It’s for these reasons both O’Connell and Wetter committed to staying in the Finger Lakes region and now operate American Fuel Cell out of the Kodak Eastman Business Park to best leverage local fuel cell resources to grow their company and create high paying technology jobs in the Rochester area.

“We graduated from the NEXUS program where we really learned how to become a business,” said O’Connell. “We started out as a couple of guys with a great idea, and ended up as a company with nearly a dozen folks working for us getting ready to go into volume manufacturing at the Kodak Eastman Business Park,” said O’Connell.

American Fuel Cell is focused on two markets – mobility (forklifts), and backup cell tower applications. According to O’Connell, this market is expected to double within the next two years to $375m. O’Connell said American Fuel Cell is making great progress and wants a piece of that pie. Already the startup has sold parts to the navy, and they have secured an MOU with their first big customer for thousands of units. Due to this activity, American Fuel Cell is ramping up production to make these units within the November timeframe, and they are looking to add more staff to their team in order to ensure success.

“We couldn’t have made this progress alone. From the NEXUS-NY program we did some outreach to our customers and they were consistent in their message. They told us we needed to get the cost down of the membrane electrode assemblies inside the fuel cell. So that’s our product, and that’s what we’re focused on,” explained O’Connell.

Today, American Fuel Cell has a sellable product with a proprietary “secret sauce” formulation, and low cost manufacturing utilizing the thin film roll coating capability at Kodak. This product is not only ready for the forklift and backup cell tower application markets, but also puts American Fuel Cell in position to enter into the “other electric vehicle” market.

O’Connell says right now there is a lot of focus being placed on battery operated vehicles, including where they’re headed and how that market is going to expand. But he tells us that the fuel cell vehicle industry is also something to watch. Toyota is already in production with a fuel cell vehicle, which makes clean, efficient energy. O’Connell says fuel cell vehicles have some advantages because they have a fast refill time and extended range compared to a battery vehicle.

O’Connell closed his High Tech Rochester Demo Day presentation by telling a “what if” story:

“There were 85 million vehicles sold last year in the world. What if just a little over 1% of those vehicles turn out to be fuel cell vehicles. That’s 1 million fuel cell vehicles a year. Each fuel cell vehicle uses around 350 membrane electrode assemblies. Do the math, and that comes out to a million MEAs a day! So I ask you, why wouldn’t we want to manufacture those MEAs here in Rochester? Why wouldn’t American Fuel Cell want to go after that market? And why wouldn’t we leverage the Kodak equipment to make Rochester the MEA manufacturing capital of the world?”

By working with NYSERDA, American Fuel Cell received a grant to help ramp up its production. The company has also acquired great resources with the NEXUS-NY program to build strong relationships with RIT, Cornell and SUNY Alfred State for some of their testing. The company is now looking to raise enough money to complete existing orders and prepare themselves, and Rochester, to power the future.

What’s Next for High Tech Rochester?

With a new innovation district forming in downtown Rochester, Jim Senall said he’s excited about High Tech Rochester being the anchor.

By 2017, Senall said HTR will have a new downtown accelerator at the Sibley building, which is being redeveloped as a mixed-use facility. RIT Center of Urban Entrepreneurship is next door, and multiple other buildings within that close geography will support the lifestyle that new entrepreneurs want to have.

Screen Shot 2016-06-18 at 5.03.30 PMIn the interim, HTR will be opening up its own temporary space in downtown Rochester this Fall. HTR is looking for some pioneers – entrepreneurs in the community that want to help build an amazing facility in downtown. HTR has a $3 million capital campaign to raise for the cause. The fundraising is underway with about $1.5 million raised already.

Senall requests that if you’ve had success and you want to give back either as a mentor or supporter, to contact High Tech Rochester on how you can get more involved.

Watch Video -> Introducing High Tech Rochester

Entrepreneurs Wanted for National Pitch Event

Investors’ Circle is now accepting applications for entrepreneurs to be considered to pitch at their next national pitch event, Beyond the Pitch: San Francisco on September 13, 2016

The deadline for entrepreneurs who want to be considered is midnight on July 7, 2016.

 

Are you an entrepreneur looking to raise capital? Know an enterprise that’s raising capital? Apply to pitch at Investors’ Circle’s Beyond the Pitch: San Francisco on September 13.

This is a full-day, impact-oriented pitch event that will include 10-12 companies and an audience of angel investors, family offices, foundations, and early-stage funds. For-profit social entrepreneurs are encouraged to apply.

Applications are due by midnight on July 7. Apply here!

Selected companies receive pre-event coaching from expert Investors’ Circle staff, elevator pitch training session, GIIRS rating and assessment, IC-facilitated due diligence if there is investor interest, and more.

For specific questions or inquiries, please contact Andrew Cousins (acousins@investorscircle.net).

 

NEXUS NY Demo Day Tweet

 

NEXUS-NY will also soon be accepting applications for Cohort 4. Sign up for newsletters to stay updated on next steps. The application process is slated for October 18 – November 11th.

 

 

 

NEXUS-NY Phase 2: On the Path to Commercialization

7 Clean Energy Research Teams Start De-Risking Technology in NEXUS-NY Phase 2

The difference between success and failure is finding focus as early as possible. This is a primary mission of the NEXUS-NY clean energy seed accelerator, and over the last several months, participants have been developing and testing numerous business hypotheses through interactions with industry participants to find this focus. The desired outcome is to validate whether a viable and scalable business model exists, and to decide whether and how best to pursue their commercialization objectives – a process the teams will continue to explore in NEXUS-NY Phase 2.

As Phase 1 of the program came to a close, each team presented to a room of judges and industry experts to share the latest results around their business opportunities. These presentations played a large role in determining which participants would move onto de-risking their technology by building prototypes and seeking third party validation.

When selecting which teams to advance into Phase 2, NEXUS-NY Founding Executive Director Doug Buerkle said, “We asked the entrepreneurs to convince themselves of the business opportunities first. When that happens, it’s usually easy for them to convince us that they’re ready to move to the next level.”

NEXUS-NY selected several judges from the business community to evaluate the team’s business opportunity pitches. The judges looked for answers to key questions. Some of them included:

  • Is there a large market opportunity?
  • Has the team identified a compelling business model?
  • Is the product unique and compelling?
  • Does the technology promise a major energy impact?
  • Can the team make significant progress in the coming 6 months?

Jim Senall, President of High Tech Rochester, was among the judges. He remarked on the quality of the team presentations as being excellent. “It’s always so impressive to see how much the teams accomplish in just twelve short weeks from the kick-off of the program,” said Senall.

NEXUS-NY is one of the many programs run by High Tech Rochester (HTR). Senall says it’s unique in its statewide diversity of teams, and the high-impact technologies that are being developed. In his experience having watched each cohort participate in Phase 1, some teams learn that their initial assumptions may have been wrong, and that there may not be a market for what they are developing. Senall believes this is a good thing, as teams gain valuable knowledge in months versus years. If one particular idea doesn’t pan out, they have the opportunity to move to a different one.

“Each year the NEXUS-NY teams seem to get stronger and stronger. It’s never easy at the end of Phase 1 to select which teams to move on. It’s usually the market that makes that decision,” added Senall. “We look forward to seeing the others take what they’ve learned in Phase 1 and apply it to their next ideas.”

NEXUS-NY Finalists Represent the Most Promising Clean Energy Technology in NY

The teams moving to the next round of the NEXUS-NY accelerator include: BioƎnergySP, Clarkson University, Cornell, Rensselaer Polytechnic Institute, Rochester Institute of Technology, SUNY Alfred State and University at Buffalo.

NEXUS-NY Research Teams | RIT at Cohort 3 KickoffRyne Raffaelle and Brad Sparks are leading the charge of the Rochester Institute of Technology (RIT) team. RIT researchers are working on a novel technology that incorporates patented carbon nanotubes within lithium ion batteries to improve their performance. Sparks says this is what makes their product unique and compelling.

“This has been demonstrated to provide 30-40% more energy than currently available off-the-shelf batteries,” said Sparks. “In particular, this is extremely important for our military and intelligence communities, where extending mission life is critical.”

In addition, the team from RIT is working on a technology that allows these batteries to be stored and shipped safely without charge to meet ever increasing shipping regulations. The core team has been working together for over a decade to develop these technologies.

“We see our primary market opportunities as the military and intelligence communities,” added Sparks. “Specifically, we are looking at developing our high-end batteries for small satellites, remote sensing and unmanned aerial vehicle applications.”

Since joining NEXUS-NY, the RIT researchers have spoken with dozens of potential customers to better focus on the specific market segments. Over the course of the next 6 months in the accelerator, the team will work towards commercialization on the technical side by spending a bulk of their time on improving their initial prototype. Their intent is to reduce the product cost without sacrificing the battery performance. On the commercial side, their goal is to find one or two initial customers to provide market feedback so they can continue to refine their products.

Now in Phase 2, all the researchers will begin building early prototypes and working towards third party validation of customer discovery. Buerkle said, “Typically during Phase 2, teams build prototypes which are aligned with the minimum features that customers want to test based on the interactions they had in first half of the accelerator.”

Theodorian Borca-Tasciuc and Berardo Matalucci represent the Rensselaer Polytechnic Institute (RPI) team. They are seeking to commercialize a novel modular and scalable building system for personalized comfort that can result in energy savings, increased productivity and healthier indoor environments.

RPI presented an early-stage prototype to the judges during the business opportunities event. They are now looking forward to building prototypes that are fully functional, making sure their demonstrations can move from proof-of-concept to real-world applications by verifying their assumptions.

“It’s time to build a complex version of the model. We see it as a portable device, something compact in order to overcome a couple important technical challenges, for example the effects on people and the energy savings,” said Matalucci.

In order to achieve this, the RPI team will take the insights gained from the Phase 1 customer discovery process and from the judges to couple energy efficiency with some other value, having learned that saving energy isn’t as important of a factor to customers as originally anticipated.

“We found that with our product, energy efficiency isn’t a necessity for the customer,” explained Matalucci. “Instead, it’s more important to provide thermal comfort to everyone with  a scalable product, especially one that engineers are interested in.”

Matalucci says this is not a simple task, and there are significant problems his team will have to overcome to deliver multiple benefits, including reducing the installation cost, while still providing high aesthetics.

“We’re close. We have already built something that offers a two-fold value proposition. By providing a system for localized heating and cooling we  can maximize the comfort of people, and on the other side condition a space where and when needed.” This allows our systems to avoid wasting energy, explained Matalucci. “And since our units are stand alone, meaning they don’t need to be plugged into ducts or pipes, which are unsightly, we also reduce installation costs and technical spaces like shafts and drop-ceilings. All of this combined caters to the customer and increases the real estate value of the building.”

Now the RPI team has to focus on being cost-competitive. This is an obstacle they must overcome by somehow containing the return on investment for their modular building systems to five years or less. For larger installations Matalucci says this could be pushed to 10 years, but after that it doesn’t hold the client’s interest any longer.

The team’s last big takeaway was from the judges, who stressed the importance of addressing product customization for manufacturing. For example, if your product is pink instead of gold, or in a circular shape, how customizable you want it to be impacts the costs related to manufacturing. This is a major concern that Matalucci says his team needs to consider – how to contain the cost of manufacturing while offering a product that is customizable.

To help them on their path to commercialization, the RPI team is in the process of hiring a couple of mechanical engineers to work on an advanced prototype. They are also in contact with some students from the Lally School of Management at Rensselaer to assist them in moving forward with patenting and funding applications.

NEXUS-NY Partnerships Help Catalyze Commercialization Process

Something that distinguishes NEXUS-NY from other accelerators is the program’s partnerships with business leaders to catalyze the commercialization of novel clean energy technologies.

As a NEXUS-NY Phase 2 activity, NEXUS contracts with Excell Partners to provide due-diligence support for each team. Excell is a Venture Capital Fund that invests in seed and early stage high-tech startups in New York state. Over the next several months, program participants will reveal more of their technology and business plans through a series of presentations to Excell.

“The first presentations will focus on getting to know the teams and technology; Excell will provide initial feedback, indicating where they see deficiencies in the business case,” explained Buerkle. “During subsequent presentations, Excell will have a chance to see how their advice has been implemented before assigning analysts who will work as part of the research team. This is certainly not the typical start-up/VC relationship. This is much more friendly.”

NEXUS-NY Midterm JudgesNEXUS-NY Phase 2 participants will also continue working with the teaching team which includes a few HTR employees plus several serial entrepreneurs who provide strategic and tactical guidance. New this year, NEXUS-NY advisors, are committing a few hours per week to provide additional support to participants. These advisors are all proven entrepreneurs who would typically not have the time to engage in full mentoring roles, yet they have all agreed to provide high level advice and connections. Advisors include: Christine Whitman, Chairman, CEO and President of Complemar Partners; Alex Zapesochny, President, CEO and Cofounder of iCardiac Technologies; David Dassault, Founder, President and CEO of P1 Industries; Mark Barberio, President of Markapital and board member of Buffalo Angels and Rochester Angel Network; John Frater, local entrepreneur and Adjunct Professor at RIT; and Don Golini, Founder of SANICA Ventures and QED TEchnologies International.

NEXUS-NY Provides Direct Financial Support to Program Participants

In partnership with the New York State Energy Research and Development Authority (NYSERDA), NEXUS-NY will continue to provide participants with funding in Phase 2. Each team has been charged with developing a statement of work that will define what they want to do with the funding. The statement includes what customers they would like to pursue for third party validation, and what they want to test.

“Most of the funding is allocated towards building and testing prototypes.” explained Buerkle. “In the past many teams also form legal entities before the end of Phase 2.”

NEXUS-NY offers additional support for its participants to evaluate their IP and that of potential competitors. NEXUS-NY contracts with the NYS Science + Technology Law Center at Syracuse University, which help participants develop custom IP landscape assessments which meet their individual needs.

Mark Your Calendars for NEXUS-NY Team Pitches

At the end of NEXUS-NY Phase 2, teams will present their technology and businesses to a wide audience of prospective collaborators and investors. These Demo Days will be held in western New York and New York City. They are tentatively scheduled for September and October, 2016.

Now it’s time for the teams to get back to the lab, while continuing to engage customers and develop their go-to-market plans!

Interested in applying for NEXUS-NY? The next phase of applications is available between October 18 – November 11, 2016.