For the past seven years, SXSW has used its reputation as a launching pad for the latest and greatest in tech to help showcase 50 early-stage startups through its Accelerator competition. Since 2009, 63% of the program's 300 total participants have gone on to raise a combined $2.6 billion and 13% have already been acquired.
This year, over 470 companies across a variety of industries entered for a chance to compete and SXSW just released the names of the 48 finalists. (These companies were selected by the SXSW Screening Committee). According to the Committee, the highest percentage of submissions came from Austin, San Francisco, New York and Chicago.
Along with the 48 finalists, SXSW also announced several alternates that will present a one-minute pitch at the Awards Ceremony and participate if a finalist cannot attend the conference.
For the 2016 SXSW Accelerator, one Chicago startup was named a finalist and two were named alternates. The competing companies are:
Hearken: Finalist
Founded by Jennifer Brandel, a veteran of Chicago public media, Hearken is an audience-driven platform that enables newsrooms "to partner with the public throughout the reporting process, resulting in original, relevant and high-performing content." According to the company, Hearken, which is competing in the Content and Entertainment Technologies category, "is a new paradigm for journalism with a technology to support it."
Moneythink: Alternate
Moneythink, an alternate in the Payments and FinTech category, is a six-year-old startup that develops mobile apps to teach students how to "save, spend mindfully, and use financial products safely." In 2013, Moneythink was recognized by the White House as one of the most promising social innovations for the future of the country. The company's aim is to help strengthen the financial capability of American youth.
Project44: Alternate
An alternate in the Enterprise and Smart Data category, Project44, a Platform as a Service company for the freight industry, connects shippers to carriers in real-time with for rating, dispatch, tracking, and imaging.
Bonus:
Also, Parknav, a provider of real-time, on-street parking availability, was named a finalist for the Enterprise category. Though the company was founded and launched at 1871, the startup has since relocated to San Francisco.
(Image via Hearken)
