FAU TECH RUNWAY ANNOUNCES FIFTH AND LARGEST CLASS
BY BRITTANY-SULLIVAN | 5/23/2017
Florida Atlantic University’s Tech Runway® has selected its fifth and largest Venture class of startup and early-stage companies to participate in its business accelerator program.
This year, four companies will receive a $25,000 non-equity grant, participate in a 16-week intensive boot camp, engage in a rigorous year-long mentoring program with a team of five accomplished business mentors, and will be provided a workspace for one year. The four companies are:
- Videopura LLC is a video services company with patent-pending technologies to reduce the bandwidth necessary for video services.
- Tap2Open LLC is a secure, convenient, and easy way for residents and guests to gain access to gated communities via smart devices. Tap2Open allows residents and invited guests enter a gated community or secured door at the push of a button on their smart phone or device.
- Ridgeback Network Defense Inc. delivers enterprise network security by turning the tables on hackers, dynamically counter-engaging the adversary, causing them to absorb the expense of attack and eliminating them as a threat.
- Hubspring Health is an innovative software company founded by physicians focused on solving several of the chronic problems plaguing our industry. Hubspring provides a cure for these chronic conditions and enables healthcare organizations to embrace the future with its innovative and powerfully flexible platform, The Hub.
In addition, 16 more companies were awarded based on various tracks including, community, student and faculty. This will give them many of the same benefits as the prior four companies, minus the $25,000 grant. Six companies are still in the process of being selected and confirmed, however, the 11 companies already identified are: Two Degrees Inc.; ScaleWize; Land of Zorth; WAHspace; Bacon Boxes; SlideMap; PAPER; STAX; Gaming Frog; MMP Biopharma Inc.; and PQSecure Technologies LLC.
“A record number of companies entered the 2017 FAU Tech Runway Launch Competition. They significantly raised the bar, in terms of their quality and breadth represented,” said Rhys L. Williams, associate vice president for research and the managing director for FAU Tech Runway®. “Consequently, this year’s winning Venture Class will be expanded by 50 percent to 21 companies. After they complete our year-long program, many of these companies will no doubt make a profound impact upon the region’s entrepreneurial ecosystem.”
Under the purview of the FAU Division of Research, Tech Runway® is a public-private partnership formed to foster technology start-ups and early-stage companies. Since its inception in late 2014, 205 jobs and 76 internships have been created; 39 FAU students have been employed; 136 corporate partnerships have been created; more than $8 million in revenue has been earned; and more than $19 million investment capital has been raised.
“FAU Tech Runway serves as a core entrepreneurship hub for Florida Atlantic University and as a key resource for the regional technology eco-system,” said Daniel C. Flynn, Ph.D., FAU’s vice president for research. “As the program matures, it will continue to launch thriving, innovative companies that are ready for their next stage of growth, contributing to the university and the state’s economic vitality.”
For more information on FAU Tech Runway®, visit techrunway.fau.edu.