Category: Press
Announcing the Newest Startups Joining The Innovation Space’s Science Inc. Accelerator
Fall cohort includes companies specializing in life sciences, clean tech, and advanced materials.
Wilmington, Delaware — The Innovation Space™ is proud to announce the acceptance of seven companies into its Fall 2024 Science Inc.™ Accelerator Program. This virtual, cohort-based accelerator is designed to propel early-stage science startups by providing expert coaching and resources to help them achieve critical business milestones.
Throughout the 14-week program, Science Inc.™ participants will receive guidance from seasoned Entrepreneurs-in-Residence and gain access to industry and investment experts who will advise them on strategic decision-making. The program fosters a collaborative environment, enabling participants to build valuable networks with potential investors and collaborators.
Participating startups may also be eligible for an investment of up to $200,000 through The Innovation Space’s First Fund™. “This Science Inc. cohort is truly impressive, featuring companies from a wide array of industries,” remarked Bill Provine, founder and CEO of Innovation Space. “These startups are addressing some of today’s most critical challenges, including decarbonization, sustainable materials, and therapeutics aimed at enhancing patient health outcomes.”
Companies participating in the Fall 2024 cohort:
Aloe Therapeutics is dedicated to improving outcomes for patients with hard-to-treat solid tumors by using its lead platform to “bait” and activate the immune system to increase response rates to commonly used cancer therapies.
Coffee Elf is a bioscience company that focuses on upcycling spent coffee grounds into sustainable bioactive ingredients and biodegradable materials.
Discova is developing a period-powered diagnostics ecosystem for endometriosis and other gynecologic conditions.
KiposTech is at the forefront of air disinfection, by using non-thermal plasma to combat airborne pathogens, offering rapid, scalable, chemical-free, 24/7 air disinfection.
Manglovo Health developed a once-weekly, non-steroidal birth control pill is designed to empower women and gender-diverse people to engage fiercely and freely in all that they love to do.
ODIN Materials, Inc. is developing the technology to create advanced materials from carbon capture processes with an emphasis on hemp and graphene-based materials.
The Pennycress Company engineers and sells eco-friendly pennycress seeds so farmers and biorefineries can produce sustainable aviation fuel and other products
To date, Science Inc.™ has supported 79 startup participants from 15 states and four countries, including the U.S.
“For any aspiring founder or startup, we highly recommend applying for this expertly organized and moderated accelerator program,” said Christopher DiMarco, PhD, CEO and founder of Sindri Materials Corp., a Science Inc. alumni company. “It is fast paced, yet comprehensive, offering a wealth of knowledge each week. The dedicated team and experienced Entrepreneurs-in-Residence make the journey truly invaluable.”
The Science Inc.™ accelerator program accepts companies twice per year, in the fall and spring, attracting applications from across the United States and beyond, with special consideration given to startups who are located within the Mid-Atlantic region.
Science Inc.™ is partially funded by a U.S. EDA grant, which is designed to build regional economies by supporting the growth of technology-oriented startups.
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About The Innovation Space™:
The Innovation Space™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science startups. The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ is comprised of 130,000 ft2 of state-of-the-art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Sign up for more information and updates to learn more about The Innovation Space™.
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Innovation Space Marks $1 Billion Milestone
Portfolio companies have now raised over $1B in funding to support world-changing innovations
Wilmington, Delaware — The Innovation SpaceTM today announced that its portfolio companies have now raised more than $1 billion in funding since its launch as a not-for-profit organization six years ago. The Innovation Space is one of the largest science-based entrepreneurial ecosystems in the world and has worked with over 100 startups from across the country and internationally to accelerate their trajectory to market and commercialize their world-changing innovations. The Innovation Space supports startups via virtual programs as well as in its 130,000 ft2 of state-of-the-art laboratories and office space equipped with cutting edge scientific equipment.
“This is a defining moment for the Innovation Space and our community of inspiring innovators,” said Bill Provine, Innovation Space founder and CEO. “From entrepreneurs in clean tech working to curb climate change to those in healthcare endeavoring to cure cancer to others developing advanced materials that will improve the way we live in the future; these visionaries are progressing forward innovations that will improve the quality of our lives while simultaneously making our existence on earth more sustainable. At the Innovation Space, we are so proud to play a critical and enabling role in the growth and impact journey of these startups.”
Innovation Space has supported science-based startups across a broad spectrum of industries such as healthcare, innovative ingredients, agriculture, advanced materials, clean tech, and advanced manufacturing. Its portfolio of companies includes healthcare startups like now-public Prelude Therapeutics (NYSE:PRLD), NiKang Therapeutics and Synnovation Therapeutics; agriculture biotechnology company Napigen; renewable hydrogen company and University of Delaware spin-out Versogen; and innovative ingredient companies such as Adesis, which grew rapidly as a business unit of Universal Display (NYSE:OLED) with the enabling assistance of the Innovation Space.
“Innovation is critical to creating jobs, opportunity, and prosperity for our state,” said Delaware Governor John Carney. “In 2017, we partnered with DuPont and the University of Delaware to create the Innovation Space, to offer what many startups cannot afford on their own: state-of-the-art laboratories, premium lab equipment, and quality office space. This partnership has yielded strong results, assisting over 100 startups, including Prelude Therapeutics. The Innovation Space will continue to lead the way for entrepreneurs and changemakers for years to come.”
The foundation of the Innovation Space was built from a strong partnership between DuPont, the University of Delaware and the State of Delaware. Together, this collaboration contributes resources such as financial support, a pipeline of expertise and talent derived from a rich and prolific legacy of innovation that helps startups get off the ground and rapidly grow and scale their impact.
“Reaching this milestone is a remarkable achievement for the Innovation Space,” said Alexa Dembek, Chief Technology and Sustainability Officer at DuPont and Innovation Space Board Member. “Since day one, DuPont has been a proud partner in supporting the Innovation Space’s pursuit of scientific entrepreneurship, and I look forward to many more years of progress from our collaboration. This partnership will help unleash the pioneering spirit of discovery that contributes to our quality of life and fuels a thriving economy.”
“At the University of Delaware, research, innovation and entrepreneurship have always been part of our DNA. We are proud that the partnership we founded with DuPont and the State to launch the Innovation Space has been so successful in transforming discoveries into innovative companies, and ultimately the economic development of our entire state and region,” said Dennis Assanis, President of the University of Delaware and Chair of the Board of Directors of the Innovation Space. “We look forward to continuing our work together to realize the limitless possibilities ahead.”
With a multi-industry mix comprised of 55% healthcare, 30% industrials and 15% clean tech startups, the Innovation Space supports companies innovating solutions to humanity’s challenges in energy, agriculture, the life sciences and engineering.
“This is a great example of cooperation by Delaware’s universities, business partners like DuPont, government at all levels, and philanthropy. I am grateful for the federal funds that helped make this possible, and particularly proud of the $2.5 million in congressionally directed spending I helped secure last year to keep their momentum moving forward”, said U.S. Senator Chris Coons.
Innovation Space has already supported over 700 jobs nationally, including over 450 onsite at the historic Experimental Station campus in Wilmington, Delaware since 2017.
“The Innovation Space continues to inspire science-based startups and support entrepreneurship while showing tremendous success,” said U.S. Senator Tom Carper. Along with Delaware’s Congressional Delegation, Sen. Carper helped secure a grant from the U.S. Economic Development Administration to support the early days of the Innovation Space. “This is a great example of what can happen when all levels of government, private organizations and higher education partner to help continue Delaware’s strong legacy of innovation in the sciences.”
“What helps drive innovation in the First State is our entrepreneurial spirit, and the Innovation Space has become a critical partner in fostering that spirit through its critical support of science-based startups,” said Representative Lisa Blunt Rochester. “I’m proud to be a long-time supporter of the Innovation Space’s work, having secured federal funding alongside Senators Carper and Coons for it to expand its footprint in Delaware and across the country. Simply put, the Innovation Space represents the best kind of partnership that we must continue to utilize and leverage to help our state reach its full entrepreneurial, innovative, and economic potential, and I am excited to see what comes next.”
About The Innovation Space™:
The Innovation Space™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science entrepreneurs. The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, the Innovation Space™ is comprised of 130,000 ft2 of state-of-the-art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates to learn more about all the Innovation Space™ programs and funding opportunities.
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Science, Inc. welcomes 11 new startups for its fall cohort
Innovation Space Welcomes 11 New Startups to Science Inc. Accelerator Program
Fall cohort includes companies specializing in advanced materials, therapeutics, and clean technology.
Wilmington, Delaware — The Innovation Space™ today announced that it has accepted 11 companies, for its Fall 2023 Science Inc.™ Accelerator Program, a virtual, cohort-based accelerator for early-stage science-based startups. With the support of expert coaches (Entrepreneurs-in-Residence), Science Inc.™ participants will work toward major milestones to quickly and successfully ramp up their businesses.
Science Inc.™ gives companies access to industry and investment experts who can advise participants on decision-making in the critical early stages of their development. Through the connections with experts and their cohort, participants cultivate a network of potential investors and collaborator partners.
Eligible participating startups also have an opportunity to apply for up to an additional $200,000 in support through the First Fund™ investment program.
“We’re excited by the growth potential in all members of this cohort,” said Bill Provine, Innovation Space founder and CEO. “From repurposing food waste to developing medicines and technologies that will improve health outcomes, these startups are creating new solutions to some of world’s most important and pressing needs. Our role at The Innovation Space and through our Science Inc. accelerator program is to help these startups magnify their impact and speed their trajectory to market.”
Companies participating in the Fall 2023 cohort include:
Cyta Therapeutics is developing a therapeutic to treat obesity and associated cardiometabolic diseases.
Edulis Therapeutics is developing a minimally-invasive bioresorbable implant for localized drug delivery in patients with inflammatory bowel disease (IBD).
EndoShunt is a developing medical device that aims to end preventable deaths from abdominal bleeding by giving trauma surgeons the gift of time so they can give trauma patients the gift of life.
Foogly is a cleantech startup that uses food waste to make bioplastics and biopolymers through a one-step, eco-friendly process.
Graftable is developing oxygen microspheres to improve graft survival after reconstructive surgery.
Margik is the world’s first low-cost high-volume Organic LED platform that is enabling automotive lighting to become efficient and sustainable.
NKA Bio is developing therapeutic, temperature stable antibodies for critical care.
PriZm is a clinical-stage pediatric rare disease company developing a platform that comprises small molecule, oral therapy for treating MCT8 deficiency in pre- and post-natal babies.
RecurX has developed a microfluidic based diagnostic technology platform that informs the seriousness of the disease, the standard of care needed, and drug treatment options.
Serentrix is developing non-addictive medicine for pain management.
Sindri Materials is an advanced materials company committed to bringing the absolute highest quality graphene into the highest impact applications through novel and proprietary manufacturing methods.
To date and including the current cohort, Science Inc.™ has supported 61 startup participants from 15 states and four countries, including the U.S.
“The Innovation Space entrepreneurs-in-residence are fantastic, and extremely experienced in all aspects of startup management,” said Jason Winder, CEO of Sonogen Medical, a Science Inc. alumni company. “They helped me improve my pitch deck, enhance my financials, and refine my fundraising strategy in ways that I never would have expected.”
The Science Inc.™ Accelerator program accepts companies twice per year, in the fall and spring. The selective program receives applications from across the United States and beyond, with special consideration given to startups who are located or interested in locating within the Mid-Atlantic region.
Eligible industries include: aerospace, agriculture, biotechnology, chemicals and chemical products, therapeutics, diagnostics, clean technology, electronics/instrumentation, food and beverage, healthcare services, industrial/energy, marine and blue technology, medical devices and equipment, nanotechnology, oil and gas, renewables/renewable energy, semiconductors, telecommunications, therapeutics, and transportation.
Science Inc.™ is among a suite of Innovation Space programs funded by a $1.5 million U.S. Department of Commerce grant, which is designed to build regional economies by supporting the growth of technology-oriented startups.
About The Innovation Space™:
The Innovation Space™ is a not-for-profit innovation ecosystem and is a virtual and physical home for leading science entrepreneurs. The Innovation Space™ works to “transform science and technology startups into industry leading companies.” Located on the historic Experimental Station campus in Wilmington, Delaware, The Innovation Space™ is comprised of 130,000 ft2 of state-of-the-art lab and office space with access to cutting edge equipment alongside a suite of entrepreneurship programs and opportunities supporting startup growth. Register for more information and updates to learn more about all The Innovation Space™ programs and funding opportunities.