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XMeet the 10 Startups in Techstars' 2021 Space Accelerator Class
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
Techstars' Space Accelerator took off this week with its third class of space-related companies that make everything from AI-powered smart cameras to technology that can anticipate celestial collisions.
The 10 startups selected for the competitive four-month program are based across the U.S. and Australia and will work with Techstars on a mostly remote basis.
All are developing technology with multiple uses in space and will receive a $120,000 investment in addition to access to Techstars' expanding network of mentors.
That network includes aerospace experts at the Pasadena-based NASA Jet Propulsion Laboratory. Participating companies include Lockheed Martin, Arrow Electronics, SAIC and Israel Aerospace Industries.
"Alumni from our previous cohorts are launching space systems and infrastructure, raising tens of millions of dollars in venture capital as well as receiving lucrative contracts from both government and commercial customers," said Jonathan Fentzke, the program's managing director.
The program will culminate in a demo day on Sept. 2 where the startups will show off their work in hopes of winning potential investors or clients.
Fentzke noted that while no companies in this year's cohort are based in LA, Techstars still has partners mentors and investors based here.
"As it turns out the four companies in California out of 10 are not based in L.A. today, but will likely have a presence over time," Fentzke told dot.LA.
Here's a look at the 10 companies selected for this year's Techstars Space Accelerator.
Hyperkelp
LOCATION: San Clemente, Ca.
CEO: Graeme Rae
Founded by maritime engineer Dr. Graeme Rae, Hyperkelp is building buoys that aren't your average fishing bobber. Its tech can collect and transmit data about the surrounding ocean and incoming payloads from space. The company says its goal is to create a network of the buoys around the ocean to help aerospace launch companies stream data from anywhere around the world.
Hyperspec.ai
LOCATION: San Francisco, CA. and Tel Aviv, Israel
CEO: Ohad Levi
Hyperspec.ai makes smart cameras that run on artificial intelligence. The company's CEO Sravan Puttagunta previously worked in HP's engineering department. In a nutshell, Hyperspec's cameras are made to create accurate mapping and object tracking in real time, with the goal of being used on self-driving cars and other autonomous vehicles.
Nicslab
LOCATION: Sydney, Australia
CEO: Dr. Andri Mahendra
Nicslab develops technology called the "source measurement system" that uses quantum computing to help organizations optimize their internet speeds and make them faster. Its current clients include the University of Oxford, HP Labs and Mitsubishi Electric.
Pierce Aerospace
LOCATION: Indianapolis, In.
CEO: Aaron Pierce
Pierce Aerospace makes software that helps autonomous drones identify objects and payloads. It argues that this software is critical to the development of the drone industry -- after all, it can be pretty scary if a drone goes rogue because it can't see where it's going. In 2019 the company received a roughly $50,000 grant from the U.S. Department of Defense to continue work on its flagship product, the Flight Portal ID system, which the DoD wants to use on its Unmanned Aircraft Systems.
Pixspan
LOCATION: Rockville, MD.
CEO: Michael Rowny
Pixspan develops a system that lets large files be transferred from different storage locations (like hardware or the cloud) at rapid speeds -- sometimes up to 5 times faster than average, it reports. It's compatible with several app programming interfaces, the main one being Amazon Web Services.
QuSecure
LOCATION: San Mateo, Ca.
CEO: Dave Krauthamer
QuSecure is a security company that focuses on protecting government and corporate systems from hacks. Specifically, its software works to keep encrypted data from being stolen and decrypted by quantum computers, which can steal and read valuable information at rapid speed. Its customers include Google and Amazon.
SCOUT
LOCATION: Alexandria, Va.
CEO: Eric Ingram
Scout -- also known as Scout Space -- develops software that helps spacefaring companies visualize what's going on in the great beyond and avoid casualties, like crashes with other spacecraft, satellites or debris. The company was founded in 2019 and says its name is an acronym for helping Spacecraft Observe and Understand Things around them.
SeaSatellites
LOCATION: San Diego, CA.
CEO: Mike Flanigan
As the name suggests, SeaSatellites is building unmanned vessels that work as satellites for the ocean and have a wide array of potential uses, from environmental data collection to communications. Similar to their skyward counterparts, SeaSatellites' tech can be controlled from anywhere and are designed to carry payloads on long missions.
Xairos
LOCATION: Denver, CO.
CEO: David Mitlyng
This company's name is Greek to us -- literally. A nod to the Greek god of opportune time, Kairos, is an appropriate name for this startup using quantum mechanics to bring GPS-type technology to areas of the globe without internet access.
Thermexit
LOCATION: Boston, MA.
CEO: Katie Willgoos
Thermexit is the only company in this year's Space Accelerator cohort that's led by a woman. CEO Katie Willgoos joined the company in March and helps the company create and sell its main product, Theremexit Pads, which are tiny thermal sensing sticky pads that can be placed on circuit boards and inside computers.
Correction: An earlier version of this post stated this is Techstars' second space accelerator cohort. It's the accelerator's third such class. It also, misnamed the CEO of Hyperspec.ai.
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Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
https://twitter.com/samsonamore
samsonamore@dot.la
How Caltech’s Fred Farina Is Creating a Haven for Research-Driven Startups on Campus
06:16 AM | September 21, 2022
Courtesy of Fred Farina
On this episode of the LA Venture podcast, Caltech’s Chief Innovation and Partnerships Officer Fred Farina discusses how the university converts fundamental research into new technology and supports developing startups.
Farina has been at Caltech for over 20 years, where he now oversees the Office of Tech Transfer, which is responsible for laying the groundwork for transitioning research into real-world applications. Set up in 1995, the department works on everything from patents and licensing to building a team and creating the infrastructure to support fledgling businesses.
“It’s not like we would cold call companies and try to sell patents… because of the early-stage nature of what we do,” he said. “Instead, focus has been on startups and all the programs that help get technologies more mature and more attractive for a VC, basically, to invest in the [technology] and form a company around it.”
Many of these early initiatives lack the real-world application proofing that venture capital firms are looking for before they invest, Farina said. To get these young companies over the hump, the school has proof-of-concept or “gap” funding that it distributes from the Rothenberg Innovation Initiative, to help researchers prove their ideas’ commercial potential. To help researchers “de-risk” those concepts, Caltech also offers an “Entrepreneurs in Residence” program.
Farina also helped set up The Caltech Fund and the Wilson Hill Fund, both of which provide seed funding to transform research into companies. Both funds provide between $500K and $1.5 million in seed funding for early-stage companies coming out of Caltech.
“A lot of the time, many of these projects are still not ready because…you need business people, as well as technical people and scientists, engineers. You need a plan. You need a polished pitch deck and all that stuff,” Farina said.
The next step has been to create an incubator, a space for funding recipients to work on their projects close to campus.
“The idea is to create the excitement around startups in our location that's, you know, in one place so that 5, 6, 7 startups can be in the same place and build on that excitement,” he said. Ultimately, the goal is to incubate companies ”for two years before they go out and, hopefully, then stay in Pasadena, rather than leave for the Bay Area or Boston or other areas.”
Caltech research and patents have played a major role in everything from DNA sequencing, to heavy-lift drone technology, to camera phones, among other technologies. Through NASA, Caltech also manages the Jet Propulsion Laboratory, which researches the exploration of space.
Quantum science and computing are another area of technology that is quickly growing out of the institution. Caltech partners with Amazon Web Services to develop quantum computing hardware and software, Farina said, adding that that partnership has greatly helped foster Caltech’s startup ecosystem, providing recent graduates with high-quality jobs.
“What I'm excited about is that, for the first time, we have a large company basically on campus doing work that matches what Caltech wants to do in terms of fundamental aspects, and with potential really deep impact on society,” he added.
dot.LA editorial intern
Kristin Snyder contributed to this post.
Click the link above to hear the full episode, and subscribe to LA Venture on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.
This podcast is produced by LA Venture. The views and opinions expressed in the show are those of the speakers and do not necessarily reflect those of dot.LA or its newsroom.
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Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
Los Angeles’ Top Startup Incubators and Accelerators
06:00 AM | December 30, 2021
Snap Yellow accelerator program heads\u00a0Alexandra Levitt (left) and\u00a0Mike Su.
Whether you are making medical devices or movies, if you have a promising startup chances are there’s someone out there to help.
Southern California is home to an armada of accelerators, incubators, startup studios and other programs designed to help new business owners develop their vision and launch the next billion-dollar business.
Some of these programs are run by investors, who often go on to back the companies they incubate in later rounds. Others were created as a way for existing companies like the Walt Disney Co. or the Los Angeles Dodgers baseball team to mine talent in their backyard for future revenue opportunities. Programs like the LA Cleantech Incubator target companies from across the globe that are developing tech to mitigate the climate crisis.
While some accelerators opt to provide funding outright in exchange for an equity stake, some prefer to not financially invest, and instead offer founders a place to work, access to mentors, and a full calendar of networking opportunities to help them connect to investors who might look to cut a check.
Local companies that grew from accelerators include Dollar Shave Club, which began at Mike Jones’ Science Inc. in Santa Monica and was sold to Unilever for $1 billion in 2016. Bill Gross’ Pasadena-based IdeaLab has also led several startups to big exits, including crypto exchange Coinbase which was valued at $80 billion when it completed an IPO this April.
Most of these accelerators accept applicants from both in and outside LA County, and some offer virtual workshops. Here’s a list of the top programs in LA that are helping new startups get off the ground.
GENERAL TECH ACCELERATORS
AmplifyLA’s accelerator backs early-stage companies that are local to L.A. County. Besides funding them through its accelerator, it works with startups in all industries to connect them to a network of L.A.-based startup founders and investors to raise additional funding once they leave the program. Notable past companies that used AmplifyLA include wine subscription firm Winc and on-demand moving and storage company Clutter.
Location: Venice Beach
Type of Funding: Pre-seed, early stage
Focus: Software, emerging technology companies, D2C brands
Serial entrepreneur Bill Gross founded IdeaLab in 1996, and it’s since backed over 150 companies and seen 45 of those either go public or be sold. IdeaLab backs companies regardless of their growth stage or industry but has a history of backing tech companies focused on environmental or social change. Success stories include robotics firm Elementary, crypto exchange Coinbase and GIF database Tenor.
Location: Pasadena
Type of Funding: All stages, focus on seed and early stage
Focus: Agnostic, focused on any tech company
Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of L.A. Director Matt Kozlov said Techstars L.A. looks to fund a wide range of companies but does try to target ones working in industries that are strong in L.A., like healthcare, artificial intelligence, e-commerce, retail, property tech, software as a service, and consumer tech.
Location: Downtown Los Angeles
Type of Funding: Pre-seed, seed rounds
Focus: Aerospace, energy, robotics, wellness, entertainment, mobility/logistics, education
Notable Companies: Sanity Desk, Lightbox
Grid110 offers founders two programs: a 12-week residency program for early-stage startups in L.A. that haven’t launched yet, and another 12-week ‘friends and family’ program run in partnership with L.A.-based venture firm Slauson & Co. that offers a $20,000 grant and course aimed at “demystifying funding” and guiding founders. Unlike some accelerators on this list, Grid110 doesn’t require an equity stake in a company in exchange for participating.
Location: Downtown Los Angeles
Type of Funding: Early stage, seed
Focus: Agnostic, focused on any tech company
Notable Companies: Rent a Romper, Struct Club
Michael Jones’ Science is a venture capital firm focused on funding early stage startups, and it also runs a venture accelerator that’s incubated some big direct-to-consumer brands, including Dollar Shave Club and PlayVS. Founders work out of Science’s campus in downtown Santa Monica where they collaborate with Jones and other entrepreneurial mentors as well as a staff of marketing, tech, and business development professionals to get their idea off the ground. Usually, Science contributes these services in exchange for a board seat and/or equity in a startup.
Location: Santa Monica
Type of Funding: Early stage VC, seed rounds
Focus: Mobile companies, direct-to-consumer, marketplace and e-commerce
Notable Companies: Dollar Shave Club, Liquid Death, PlayVS, Arrive
Santa Monica-based VC Mucker Capital also runs Mucker Lab, its accelerator for startups that are either in their earliest stages of development or looking to grow by spinning off a business unit or revamping their strategy. It invests in an array of tech companies but prefers direct-to-consumer businesses. There’s no set duration for its program, but most founders work with Mucker for at least a year. Mucker invests between $100,000 and $175,000 in companies in exchange for an 8% to 15% equity stake.
Location: Santa Monica
Type of Funding: Pre-seed, or spin-off
Focus: Agnostic, focused on any tech or direct-to-consumer company
Notable Companies: ServiceTitan, Trunk Club, Honey
Law firm Stubbs Alderton & Markiles founded its six month preccelerator program to provide startups with access to other valuable resources besides funding -- including workshops, mentorship and a package of legal services and perks it estimates is worth $500,000. Notable alumni include location-based marketing startup Rally.
Location: Santa Monica
Type of Funding: Doesn’t contribute funding, provides networking, mentorship and legal services
Focus: Agnostic, focused on any tech company
MEDIA & ENTERTAINMENT
One of the world’s largest entertainment companies, Disney is always on the hunt for new investments that can enhance its growing streaming, parks and entertainment businesses. It accepts growth-stage startups that are looking to use tech to change the entertainment industry and runs a three-month summer program that culminates in a demo day in October. Disney will invest in these startups in addition to co-working space in L.A. and mentorship from Disney executives. Though Disney often plans to strike deals to use some startups’ tech in its business, companies that develop IP during the accelerator retain full ownership of it.
Location: Burbank
Type of Funding: Growth stage, venture-backed startups encouraged
Focus: Media/entertainment, streaming, social media, kids’ entertainment
Notable Companies: Epic Games, Holler, Caffeine
Snap Inc.’s Yellow accelerator is a 13-week program for startups developing anything that could enhance digital entertainment, including direct-to-consumer brands, new social apps, creative tools or augmented reality experiences. Snap invests up to $150,000 in each startup and provides a network of creative industry executives as mentors. It invests with the aim of using startup tech in future Snapchat or Snap Inc. projects.
Location: Santa Monica
Type of Funding: Stage agnostic
Focus: Companies at the “intersection of creativity and technology”
AEROSPACE
Starbust Aerospace Accelerator
The Starburst Aerospace Accelerator connects aerospace and defense startups with a network of mentors that help them fundraise and hire. It’s also a way for startups to gain inroads to potentially valuable contracts with the U.S. Department of Defense, which is always looking for the next SpaceX. The company also partners with UCLA's school of engineering to offer a 13 week Scale accelerator program, aimed at seed and pre-seed startups.
Location: Los Angeles
Type of Funding: Doesn’t contribute funding, provides networking, mentorship, fundraising help
Focus: Aerospace, defense
Notable Companies: SeaSatellites, Pierce Aerospace
SPORTS
Los Angeles Dodgers Accelerator
Founded in 2015 as a partnership between R/GA Ventures’ Global Sports Venture Studio and the L.A. Dodgers, this program provides up to $120,000 to local sports-focused startups in exchange for up to 6% equity. Originally for a limited time, the outfit expanded to be a year-round program in 2018.
Location: Los Angeles
Type of Funding: pre-seed, seed
Focus: Sports tech, food and beverage, sports entertainment
Notable Companies: Appetize, ShotTracker
FOCUSED ON STARTUPS BY PEOPLE OF COLOR
Movember is a men’s health charity that encourages people to grow mustaches in November to raise awareness of suicide prevention, testicular and prostate cancer, but it recently launched the Rooted & Rising division to invest in creators. Rooted & Rising backs young Black creators who are creating culture-shifting art and provides them with a network of like-minded mentors and in exchange for creating up to three pieces of content during the three-month program.
Location: Los Angeles
Type of Funding: Individual funds, up to $5,000 each
Focus: Creatives of color
The Starfish Accelerator was created this year to give creative people of color funds and mentorship to create projects. Backed by the Doris Duke Foundation, participants are given a $50,000 grant and access to several mentors for six months to produce their work.
Location: Los Angeles
Type of Funding: Individual funds, up to $50,000 each
Focus: Creative IP, creatives of color
Expert Dojo is an international group with a cohort in Santa Monica. It prioritizes backing women-led startups and companies run by people of color. It invests an initial sum of $25,000 to $100,000 in participating pre-seed and seeded startups, and often invests in follow-on rounds up to $1 million. Local success stories include travel app Elude and influencer booking site Mavens List.
Location: Santa Monica
Type of Funding: Pre-seed, seed
Focus: Tech companies led by women and/or people of color
CLIMATE & CLEAN TECH
LACI’s goal is to fund startups that are both local and global that will create technologies to mitigate the effects of climate change and create greener, smarter cities. It runs several programs including a two year-long incubator where companies work out of its Downtown LA office, and invests in up to 50 startups each year.
Location: Arts District
Type of Funding: Pre-seed, seed, Series A and B
Focus: Clean energy, renewables/sustainability, solar, smart cities
COLLEGE/UNIVERSITY-RUN PROGRAMS
UCLA Anderson Venture Accelerator
UCLA’s venture accelerator is a four-month program that has incubated over 70 companies, which have raised $144 million in funding. Led in part by entrepreneur in residence Rod Kurtz, it helps student and faculty entrepreneurs bring their ideas and research to market.
Location: Westwood
Type of Funding: Doesn’t contribute funding, provides networking and mentorship opportunities
Focus: Agnostic, focused on any tech company. Student, faculty and alumni startups preferred.
Notable Companies: UNest, KPOP Foods
USC’s startup accelerator’s next cohort begins in Spring 2022. It doesn’t take equity, but also doesn’t offer funding -- instead connecting founders with potential investors snad giving them hands-on guidance and access to coworking space.
Location: Marina del Rey
Type of Funding: Doesn’t contribute funding, provides networking and mentorship opportunities
Focus: Deep Technology, Machine Learning and AI. Student, faculty and alumni startups preferred.
HEALTH, WELLNESS & BIOTECH
Founded in 2015, Cedars-Sinai Hospital’s three-month program gives companies up to $100,000 in funding and access to mentors both on the executive and medical sides of the business. It prioritizes startups looking to innovate in patient care, cybersecurity, genetics, machine learning and medical devices.
Location: West Hollywood
Type of Funding: Early/growth stage, seed, Series A.
Focus: Healthcare, Information management, Medical technology
Notable Companies: AppliedVR, CancerAid
CITY & COUNTY-RUN PROGRAMS
Created by Mayor Eric Garcetti in 2016, this program is a nonprofit that supports local businesses with mentorship and networking for funding. Applicants must be based in L.A. County, and all areas of tech are accepted.
Location: Greater Los Angeles
Type of Funding: Doesn’t contribute funding, provides networking and mentorship opportunities
Focus: Hardware, food and agriculture, healthcare/biotech, mobility, aerospace, manufacturing
Founded and fully supported by the City of Long Beach, this accelerator provides seed funding and mentorship and also helps companies plan exit and acquisition strategies. Run by managing director Andrea White-Kjoss, the four-month program gives founders access to $75,000 to $100,000 in exchange for 6-7% equity. The accelerator launched as digital only, but is planning an in-person component soon, pending COVID regulations.
Location: Long Beach
Type of Funding: seed
Focus: Tech startups located in Long Beach
An earlier version of this post also listed the Techstars Aerospace Accelerator, which is no longer in operation.
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venture capitalamplifylaidealabtechstarsgrid110science incmuckerlabsam precceleratordisneysnapla cleantech incubator
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
https://twitter.com/samsonamore
samsonamore@dot.la
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