F3 Tech, a leading commercialization programme for early-stage companies, has completed its search for the 2020 Accelerator programme portfolio. This year’s candidates have developed unique solutions for energy storage, remote monitoring, water filtration, automated aquaculture and sustainable materials. The companies which have been chosen this year hail from the east coast with staff in Maryland, New York and Vermont.
According to F3 Tech, the application process is based on investment principles and seeks to identify companies with the most potential to scale immediate revenue opportunities, manufacturing or license their technology to the industry. “The speed of commercialization is our greatest focus and working with companies who are ready to leap forward with our support makes the programme more impactful for everyone,” F3 tech program manager, Chris Hlubb said.
The 2020 portfolio includes: ACTIVEcharge, EnergyLink3, InventWood, Solar Oyster and Vand. Both ACTIVEcharge and InventWood are commercializing technologies developed at the University of Maryland. ACTIVEcharge is creating remote wind turbine monitoring systems. InventWood on the other hand has a growing portfolio of sustainable materials derived from wood. EnergyLink3 is adapting non-toxic lithium battery technology for rural energy storage. Solar Oyster has adapted military technology for aquaculture through its floatovoltaic automated oyster platform. Vand is pivoting its consumer water filtration technology to pilot-scale aquaponics.
The F3 Tech Accelerator programme offers up to $150,000 in funding and professional services valued at $250,000. The F3 Tech Accelerator requires no equity from participating companies, a unique value proposition for many early-stage companies.
At the end of the programme, the portfolio company with the greatest ability to obtain investment and generate revenue will be awarded $25,000.
Numerous federal, state and local agencies financially support the F3 Tech accelerator programme. Among these include the U.S. Economic Development Administration, the U.S. Small Business Administration, the U.S. Department of Agriculture Rural Development, the Rural Maryland Prosperity Investment Fund and the Mid Shore Regional Council. F3 Tech is an initiative of the Eastern Shore Entrepreneurship Centre, a private-sector non-profit serving entrepreneurs and high-growth, innovative and scalable startup companies throughout Maryland’s Eastern Shore.