NextFab, the 8-year-old, Washington Ave. (South Philly)-based company that runs a string of high-tech work areas set up by Evan Malone Ph.D. for grad students, tinkerers and other product developers, "has completed selection of 4 startup companies to participate in our first funded hardware accelerator program," Malone tells me.
"We're putting almost $100,000 into four great early stage medical device / life-science tech companies, chosen from 27 applicants." Here's details of the RAPID Hardward Accelerator's Spring cohort, which offers " access to state-of-the-art equipment, software, and training to help hardware entrepreneurs jumpstart their business," plus $25,000 each:
- Blue Dragon Bioimaging - "high performance, low-cost, and space saving research microscopes"
- Circalux - "a portable circadian-friendly light to reduce sleep disruption and improve patient outcomes"
- Strados Labs - "helping patients and care providers better manage the day-to-day challenges of living with chronic asthma"
- Vibrating Therapeutic Apparel (VTA) - "developing sleeves that use vibration therapy to help people with amputated limbs find relief from phantom limb pain"
In a statement, Ken Tomlinson, NextFab’s CFO and Venture Service Director, adds the teams share "tremendous energy" and "a sophisticated understanding of the problems at-hand... We have the right team and capabilities in place to help them improve upon their ideas. We expect great things from their time with us.”
NextFab Venture Services Manager says the winners passed through "a sophisticated scoring model" weighing not only "probability of success, but also fit" into the firm's "community of entrepreneurs, artisans, solopreneurs, and makers."
RAPID will run from the first week of April through June 29th, with survivors encouraged to pitch a follow-up panel "and potentially transition to one of NextFab’s business incubation offices." Next cycle of applicants starts in June. More at https://nextfab.com/grow/accelerator/