The Buerk Center for Entrepreneurship’s Jones + Foster Accelerator is a TechStars-like program that helps student-led startups get off the ground.
This year, five teams completed the six-month accelerator program, identifying and meeting milestones with the guidance of top entrepreneurs, lawyers and investors from Seattle’s entrepreneurial community. From July 2013 to February 2014 they worked to build their teams, develop their services or technologies, get their products to market, and raise early-stage funding.
On February 4, the five teams made final presentations to a panel of judges and were awarded up to $25,000 in follow-on funding to pursue their next set of milestones.
- PolyDrop manufactures additives that transform regular coatings (think paint) into conductive coatings that dissipate static electricity and prevent interference caused by electric current flow. PolyDrop has been awarded a Commercialization Gap Fund grant of $50,000 and a National Science Foundation STTR grant of $225,000, providing the funds necessary for 2014 operations and develop a prototype proving the viability of their product.
- Pure Blue Technologies, a water treatment technology company that provides visible light photo disinfection and desalination technology, is currently finalizing a license with the UW Center for Commercialization. The company has negotiated lab space with Ondine biomedical and has a term sheet for up to $1.5 million in equity funding, which will give them 18 months of runway to cover additional research and development and get them to the pilot stage.
- Z Girls educates female athletes ages 11-14 on the mental and emotional skills important in sports and life. The company has received a $100,000 convertible note, raised $50,000 to provide scholarships for girls who demonstrate need, and hired 27 program leaders (all college or pro-level female athletes). In the last six months 182 girls have gone through Z Girls’ Seattle-based programs. (Check out Z Girls’ promotional videos on their website!)
- StudentRND runs programs aimed at educating students (middle-school through college) about programming and engineering. The nonprofit has created an advisory board, raised over $135,000 in sponsorships, and put together an operations plan that includes hosting 20 Code Days in Spring 2014.
- LuckySteps, a wellness program for companies and their employees, has raised $30,000 in the past six months. The company is working with a UW Human Centered Design and Engineering group on a usability study and has run beta tests with four prospective clients in order to prove its business model and pricing structure. Lucky Steps plans to wow the judges in this year’s UW Business Plan Competition.