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MassRobotics has unveiled the second cohort of its Accelerator program, bringing together a varied and energetic group of startups. This year’s participants include Haystack Ag, LiftLabs, Mito Robotics, Nexterity, p!ng, Redefine Surgery, ReviMo, Revolute Robotics, Tatum Robotics, and Variable Machines.
The three-month accelerator program commenced today, and the startups will have the opportunity to present their innovations at MassRobotics’ annual sponsor celebration later this week.
Throughout the program, MassRobotics plans to provide a comprehensive curriculum covering various business-related topics. Areas of focus include customer discovery, value proposition development, manufacturing excellence, fundraising strategies, and effective team management. Following the first cohort’s graduation, 80% of the ten participating startups successfully engaged customers and began generating revenue.
As in the previous year, competition for the Accelerator was intense, with only an 8% acceptance rate out of over 130 applicants hailing from more than 25 different countries. A selection committee comprising distinguished roboticists, entrepreneurs, and faculty members carefully evaluated the applicants.
In the last two years, MassRobotics has distributed $2 million to 20 high-potential robotics startups through this initiative. The Accelerator is funded through the Massachusetts Technology Collaborative’s (MassTech) Innovation Institute, which provides a non-dilutive grant of $100,000 to each participating startup, allowing for an equity-free model.
Tom Ryden, executive director of MassRobotics, emphasized the global impact of the program, stating, “The MassRobotics Accelerator has exposed us to more than 250 new startups developing amazing robots from across the globe. Our selected cohorts are truly best-in-class. We look forward to new partners and sponsors that will join us in finding the next group of robotics startups that will change the world.” He noted the significance of the opportunity to empower and influence the next generation of robotics talent.
Discover the Startups at Robotics Summit & Expo
The cohort showcases a variety of industries, such as healthcare, manufacturing, consumer products, assistive technology, and ocean technology. Notably, 40% of the cohort are female founders. Here are the participating startups:
Haystack Ag: Focuses on innovative, cost-effective techniques for measuring soil carbon, which could significantly enhance the development of soil carbon markets.
LiftLabs: Creates user-oriented ropeless gear designed for local lobster fishers. This technology allows traps to be raised without the traditional vertical rope and buoy, enabling a more efficient fishing process.
Mito Robotics: Offers AI-driven robotics solutions for wet lab automation, merging artificial intelligence with robotic precision to build a robotic scientist.
Nexterity: Produces a hands-free robotic tool that autonomously manages the bolting and unbolting of pipeline flanges in industrial settings.
p!ng: Develops a fast, automated drive-thru service, designed to streamline the customer experience through AI and proprietary technology.
Redefine Surgery: Utilizes AI to transform surgical practices and improve patient outcomes, creating immersive 3D experiences for surgeons worldwide.
ReviMo: Designs personal robotic assistants to empower individuals with limited mobility to perform daily tasks independently while easing the burden on caregivers.
Revolute Robotics: Innovates hybrid mobility robots capable of transitioning between ground and aerial movement, expanding their applications in inspection and surveillance.
Tatum Robotics: Awarded at RoboBusiness Pitchfire 2022, this startup is creating a pioneering assistive communication system specifically for the DeafBlind community, facilitating tactile American Sign Language (ASL) through a robotic hand.
Variable Machines: Introduces a new category of reconfigurable tools that enhance the speed and sustainability of composite manufacturing, blending advanced 3D printing techniques with innovative sensing technology.
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The MassRobotics Accelerator will culminate in an Accelerator Showcase during the Robotics Summit & Expo, taking place from April 30 to May 1 in Boston. Organized by The Robot Report, this event draws over 5,000 developers dedicated to advancing robotics across various commercial sectors. Those attending will benefit from insights into leading technologies, engineering practices, and emerging market trends, alongside opportunities for extensive networking. The summit will feature over 70 speakers, a Women in Robotics Breakfast, a career fair, and more. An RBR50 Pavilion will return to recognize the winners of this year’s RBR50 Robotics Innovation Awards.
“Imagine if overnight your company grew 10X and is now full of experts ready to help you gracefully navigate any issue or make decisions small or large. Imagine if that continued for 13 weeks and your company got paid for it! That’s what the MassRobotics Accelerator is and it’s been an invaluable asset to our startup,” recounted Demitri Balabanov, CEO and co-founder of Apparel Robotics, which is part of the MassRobotics Accelerator portfolio.
Source
www.therobotreport.com