FOR IMMEDIATE RELEASE: March 9, 2023
Innovation Space Marks 100th Company Milestone As 12 New Start-ups Join Science Inc. Accelerator Program
Spring cohort includes companies specializing in therapies to improve medical outcomes, reduce climate pollution and protect the environment
(Wilmington, DE)- The Innovation Space ™ has accepted 12 companies for the Spring 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 in order to ramp up their businesses quickly and successfully.
Science Inc.™ gives companies access to industry and investment experts who can advise them on decision-making in the critical early stages of their development. Through those connections with experts and their cohort, participants cultivate a network of potential funders and collaborators.
Eligible startups also have an opportunity to apply for up to an additional $200k in support through the First Fund™ investment program.
“We are proud to announce that the Spring 2023 Science Inc.™ cohort is our largest to date and marks a milestone of 100 portfolio companies from 15 states and four countries supported in their endeavors to improve the world in which we live,” said Innovation Space ™ founder and CEO Bill Provine. “We are excited to partner with these startups and accelerate their speed to market with the support of our incredible mentors and experts.”
Companies participating in the Spring 2023 cohort include the following:
A.I. Whoo is a movement analytics company that provides gait assessment software to physical therapists via mobile application to help increase patient throughput and improve patient care.
Baleena closes the loop with a platform to capture and recirculate textile waste and prevent the flow of microplastic fibers into our waterways.
CaperRX is a therapeutics company developing a first in class proprietary peptide therapy for the safe and effective treatment of residual glioblastoma with the goal to maintain patient quality of life and significantly prolong time to recurrence of tumor and overall survival.
Cellergy Pharma is developing novel cellular therapies and bispecific antibodies for treating severe allergic disease.
Chiima Therapeutics is a biotech company developing early-stage molecules that include the delivery of safe, effective, and easy-to-use therapeutic compounds for acute and chronic pain.
FireSafe offers a novel, high-performing fire-retardant polymer that enhances fire-retardant properties of products in market segments such as Textiles, Building Construction and Electronics while also reducing risk to humans and the environment.
Nitro Biosciences retrains the immune system to target antigens for vaccination which are inaccessible via common immunization methods.
Ren Bioscience is developing a unique retinal disease treatment that preserves retinal cells by inhibiting pro-inflammatory molecules.
sHYp uses salt water sources to produce green hydrogen and other valuable products such as magnesium hydroxide at lower energy and lower CO2 footprint.
SingleTime Microneedles has developed a removable microneedle platform that can deliver single, multi-dose, and longitudinal dose vaccines in one patch. It eliminates biohazard waste, pain, the need for booster administration, and cold-chain transportation, all while improving immunity.
Sonogen Medical is working to commercialize a next-generation ultrasonic bone fracture healing device with built-in diagnostic fracture healing capability.
Torev Motors develops next- generation double axial flux electric motors using a patented stator structure that addresses rare earth metal consumption without sacrificing efficiency.
To date and including the current cohort, Science Inc.™ has supported 47 startup participants from 15 states and four countries, including the U.S.
Ken Mitchell, CEO of Atlas Fermentech, an alumnus of the Fall 2022 cohort offered, “In Science Inc., we were provided exceptional guidance and support in building our pitch materials and crafting a clear message for investors about the value we are creating. With the coaching from an expert group of entrepreneurs and advisors in Science Inc., we are now prepared to seek financing from the investment community.”
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, Diagnostics, Clean Technology , Electronics/Instrumentation, Food and Beverage, Healthcare Services, Industrial/Energy, Marine, 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.