Accelerator announced; work with 30 startups over 3 years
The Oak Ridge National Laboratory, the Tennessee Valley Authority and the University of Tennessee System today announced the Techstars Industries of the Future accelerator in partnership with Techstars, described in a press release as a “global network which helps entrepreneurs to be successful “.
The accelerator will work with 30 startups over the next three years that use clean energy, artificial intelligence (AI), big data, cybersecurity, digital currency, 5G and other innovations.
It will be the first accelerator operated by Techstars in Tennessee, the first to be affiliated with a national lab and the first to focus on “Industries of the Future,” the statement said.
“The effort will combine the strengths of the country’s largest science and energy laboratory at ORNL, the country’s largest electric utility at TVA, and award-winning research and education resources at UT. international organizations for bringing the technology to market, “the statement said.
“Working with ORNL, TVA and UT to foster an environment where startups that build breakthroughs in industries of the future can come together and thrive is a unique and galvanizing opportunity,” said Techstars CEO Nancy Wolff in the communicated. The heart of the Oak Ridge Corridor and the abundant scientific research and quantum computing facilities available to entrepreneurs are a game-changer for startups tackling the most critical issues of our future.
The accelerator is expected to create an environment where startups focused on industries of the future can come to the Oak Ridge-Knoxville area and thrive. The program will begin accepting applications for its inaugural class in July. Members of this group will refine their technologies, benefit from mentorship, find and develop talent, and connect with organizations that may become customers while having access to Techstars’ global network.
“Research and technology from ORNL and the companies that grew up here have made a difference in the lives of the world,” said Thomas Zacharia, Director of ORNL. “Over the next three years, the Techstars accelerator will attract high potential companies in areas that will define the economy for generations to come. This is a unique opportunity to share the great strengths of our region with aspiring entrepreneurs.
Jeff Lyash, president and CEO of TVA, said he sees how the work they do in the Southeast can impact the Oak Ridge-Knoxville accelerator and then the world.
“Today, innovative start-ups have the opportunity to deliver impactful benefits, similar to those almost 90 years ago, when TVA first brought life-changing electricity people in this region that we are privileged to serve, ”Lyash said in the statement. “We look forward to supporting companies participating in the Techstars Industries of the Future accelerator to develop advanced solutions with enormous energy, economic and environmental benefits for the people of the valley, the country and the world. “
University of Tennessee President Randy Boyd also highlighted the accelerator’s broad impact and partner support.
“The University of Tennessee is committed to being an economic engine for Tennessee,” Boyd said. “The resources available with our partners and through the Techstars Industries of the Future accelerator will make the Oak Ridge Corridor a world-class location for cutting-edge technology startups to benefit people and provide jobs. By working together, this initiative will catalyze tremendous entrepreneurial growth for the future of our region.
Startups are expected to participate in the Techstars Industries of the Future accelerator in areas such as clean energy, smart cities, robotization and autonomy, artificial intelligence, quantum technologies, edge computing, sharing economy, cybersecurity and cryptography, IoT, 5G and advanced communication, network-wide energy storage, digital currency, industry 4.0 and battery technology.
Startups or businesses interested in learning more can visit techstars.com
“Founded in 2006, Techstars started with three simple ideas: entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now, our mission is to empower and benefit every person on the planet to contribute to and benefit from entrepreneurial success. In addition to leveraging acceleration programs and venture capital funds, we do so by connecting startups, investors, businesses, and cities to help build thriving startup communities. Techstars has invested in more than 2,500 companies with a combined market capitalization of over $ 209 billion, ”the statement said.