Thinking about applying to NEXUS-NY? Get a head start by joining HTR’s Pre-Seed Workshop
Are you ready for innovation? NEXUS-NY isn’t holding back the “energy” this Fall, with Demo Day 2016 scheduled for October 5, Cohort 4 applications opening on October 18 and the next High Tech Rochester Pre-Seed Workshop kicking off on October 27!
Limited to ten teams, the HTR Pre-Seed Workshop is your chance to collaborate with top inventors, entrepreneurs and tech pros from across New York State, giving you the resources needed to turn your idea into a business.
“As a result of our Pre-Seed Workshops, over 100 new companies in NYS have been formed, and they’ve secured over $50 million in the past five years,” says HTR Technology Commercialization Manager Mike Riedlinger. “What I believe has made the program so successful is the team of people we assemble around each idea champion.”
Designed as a structured two-day program, each inventor (or “idea champion” as Mike likes to say) is paired with industry experts, including IP attorneys and financial specialists. Students from the University of Rochester round out the team by assisting with research, conducting background on the technology and gathering industry information. Teams also receive over $10,000 in support services and market research reports to help make their ideas take flight.
“The workshop is ideal for people who have a clean energy concept or who have worked in the lab to build an early prototype that might be commercialized,” Riedlinger says. “By running through important business model canvas elements, and surrounding inventors with a core team of experts, we’ve seen ideas turn into products, licensed someplace else or created into a service that makes a product, he added.
Riedlinger says companies that have participated in the Pre-Seed Workshop come from across New York State, referencing Ecolectro in Ithaca, NY as a great success story.
Ecolectro is a clean energy startup spun from Cornell University. The company is researching ways to revolutionize how we power the nation by developing structurally robust and highly conductive polymer membranes for a range of applications, including fuel cells and electrolyzers. Before graduating from the NEXUS-NY Clean Energy Seed Accelerator, Ecolectro Cofounder and CEO Dr. Gabriel Rodríguez-Calero began his path to commercialization as a participant of the HTR Pre-Seed Workshop.
“I heard about the HTR Pre-Seed Workshop through Susi Varvayanis of the Cornell BEST program. I was looking for some help from people who had started a business before. I had a rough idea of what I wanted to achieve, but I needed guidance to turn my idea into something more concrete,” says Rodríguez-Calero.
When he entered the Pre-Seed Workshop, Gabriel and his cofounders were surrounded by subject matter experts including Doug Buerkle, Executive Director of the NEXUS-NY and David Wetter, Cofounder of American Fuel Cells, while Susi participated as the team coach.
“It was a varied and diverse group of individuals with a lot of expertise. I was able to float my ideas by them, and with their help refine the ideas. This is exactly what I needed – a channel of communications,” explains Rodríguez-Calero. “It was an excellent way to get familiar with the business model canvas, Ecolectro’s potential customer base and define the business, all within a very concise two-day program.”
Gabriel says that after coming out of the HTR Pre-Seed Workshop he had a refined idea and understood better the problem he was trying to solve with his solution, which were much different than when he started. “Even if you find out your idea isn’t worth pursuing in a commercial enterprise, the networking and the learning experience is completely valuable. I highly recommend it.”
After completing the HTR Pre-Seed Workshop, Ecolectro took their refined solution and applied for the NEXUS-NY accelerator.
“During the Pre-Seed Workshop we were able to see how Gabriel engaged with his team members, and it was exciting to witness his interest in moving the technology ahead,” says Doug Buerkle, NEXUS-NY Executive Director. “So when he applied for NEXUS-NY, we already had a clear understanding of the technology and his commitment to commercializing it, which are two main factors in our competitive application process.”
Rodríguez-Calero says that becoming familiar with the terminology of the lean startup principles and business model canvas helped him advance in the NEXUS-NY accelerator because it wasn’t his first time hearing and practicing the concepts.
And it’s not only NEXUS-NY who will be keeping an eye out for innovations being launched out of the Pre-Seed Workshop. Each cohort ends with the investor delivering a 10-minute presentation to a panel of successful entrepreneurs, angel investors and early-stage venture funds.
“Many inventors move on to successfully receive SBIR grants or seed stage funding to form businesses based on their efforts from the Pre-Seed Workshop,” says Riedlinger. “Others realize their idea isn’t a fit and pivot to create something new, moving onto great success like Ecolectro.”
Now working out of Cornell’s Kevin M. McGovern Family Center for Venture Development in the Life Sciences, Rodríguez-Calero says he’s in position to raise his first round of investment, and the startup is actively seeking investors. Ecolectro was also chosen as a semifinalist for the 76West Clean Energy Competition, and was recently awarded a competitive NSF SBIR phase 1 grant. Through the grant’s funding, Ecolectro was able to increase the scale of polymer manufacturing by 15 times. The team finished this project on July 31, and have already applied for phase two of the grant. If they receive this additional support, Ecolectro will continue to develop their manufacturing process to make their materials at scale.
“Also exciting is that we’re in active conversations with potential customers to do joint work together. The partnership will entail testing our materials in their products, providing further market validation,” says Rodríguez-Calero.
Now’s your chance to get in on the action! If you have a clean energy idea to test and evolve, apply for the HTR Pre-Seed Workshop. Application deadline is October 14.