Colorado Springs-based accelerator Exponential Impact (XI) announced its second summer cohort this week, highlighted by six local startups developing disruptive solutions across a host of industries.
“The expertise, passion and creativity in this crop of XI Accelerator startups is remarkable. They are small yet mighty, and that’s where XI figures in,” said Hannah Parsons, XI’s CEO, in a statement. “We give entrepreneurs the best start possible by equipping them with resources and expertise, then strengthen their connections to create environments of innovation and collaboration.”
Exponential Impact launched its summer accelerator program last year with four initial members, Barn Owl, QBRICS, bytable and Mandy.ai.
This year, the program boosted the number of startups in its cohort to seven, with six companies from Colorado and one from Colombia.
“Colorado Springs entrepreneurship is on a bold trajectory,” Parsons said in a statement. “Many of this year’s XI Accelerator teams are from Colorado Springs, which demonstrates the strength and increased diversification of our business landscape. Local entrepreneurs, and the investors and organizations that support them, are part of our ever-growing technology and economic ecosystems.”
Through the XI Accelerator, startups gain access to mentors, investors, seed funding, collaborative workspace and other resources needed to help them grow.
Teams receive initial seed funding from Tech Ventures COS, a for-profit venture fund whose only investments are XI startups. Tech Ventures COS negotiates unique valuations for each startup, as opposed to many accelerators that offer the same terms to all participants. In 2019, the total amount of seed funding for the startups will range between $250,000 and $300,000.
The 14-week accelerator culminates September 18 with a demo day, where XI Accelerator startups first present their ventures to potential investors and the community. In addition, Exponential Impact will introduce the startups at a kickoff party on Wednesday, June 12 at 5 p.m. at the new XI Venture Center in Colorado Springs.
Check out the seven startups here:
This web-based tool turns passive videos into interactive lessons that give feedback and reteach for increased comprehension and student growth.
Cache - Colorado Springs
A cyberpunk-themed cryptocurrency trading game that enables players to interact during gameplay, accumulate earnings through trading on live market movements and use those earnings to purchase digital and physical items.
A decentralized carbon marketplace built on the Ethereum network that lets users quantify, claim and control their own carbon offset projects.
A database and mobile app that leverages medical and technological intellect to create a system that cannabis users and industry professionals can turn to for authoritative information.
RootLo - Colorado Springs
An app to connect like-minded travelers who are also remote workers, providing guidance, resources, tools and community.
Cyberthreat prevention, initially focused on cryptojacking, that cloud providers can integrate into codebase, outsourcing security instead of hiring teams of engineers.
SparkMindset - Colorado Springs
Provides opportunity to high school students in low-income households with access to virtual reality and project-based learning, preparing them for technology and cybersecurity certification, college pathways and careers.
