This year's Inno Madness has concluded. You can see the final results here.
After a slate of upsets in the first round of this year’s Inno Madness challenge, the intensity didn’t let up in the second set of matches, which saw two companies head to an overtime tiebreaker.
In an Inno Madness first, Lux Ice and Carbon Reform ended their matchup in a draw when voting closed Monday night, sending them into a Tuesday overtime runoff vote. Ultimately, Delaware startup Carbon Reform won with 71% of the overtime vote, securing the firm a spot in the semifinals.
There, the carbon capture company will face off against No. 10 seed Motobyo. The Horsham used car marketplace startup knocked off No. 15 seed AnaOno with over 57% of the vote in Round 2.
On the other half of the draw, No. 16 seed Respage continued to take down higher-ranked startups, claiming victory over No. 9 Propeller. Respage, the lowest-seeded company in this year’s bracket, took out the No. 1 seed Center for Breakthrough Medicines — last year's Inno Madness champion — in the first round. It now faces a semifinal clash with another underdog, Rego. The No. 13 seed took out WatchBox in Round 1 before pulling out a victory over Navengage in Round 2 with 56% of the vote.
Voting for the semifinals runs through March 27 at 11:59 p.m. Winners will advance to the final round, where one will be crowned 2023 Inno Madness champion.
Need a refresher on the remaining companies? Read more about them below and then cast your vote to determine who will move on.
- Motobyo: Based in Horsham, Motobyo was founded in 2021 and had its beta launch in 2022. The young company serves as a used car marketplace for buying and selling vehicles and is looking to expand throughout the Northeast this year before going national. It also connects users to third-party services like inspections, financing and insurance. Its founders have raised $2.5 million to date.
- Rego: According to the Environmental Protection Agency, Americans throw out about 12 million tons of furniture each year. Philadelphia-based Rego is looking to reduce that figure. Founded in 2020, Rego's platform gives residents and property managers the tools to divert waste with technology. The company works with multifamily communities to pick up and distribute goods to nonprofits. Since its launch, Rego has salvaged 90,000 tons of furniture.
- Carbon Reform: Founded by two University of Delaware alums, Carbon Reform is looking to improve air quality and reduce carbon emissions from buildings. Based in Wilmington, the firm raised a $3 million seed round in November, the same month its founders were named to the annual Forbes 30 Under 30 list. Founded in 2020, Carbon Reform is looking to democratize carbon capture by creating a device that can be integrated into existing HVAC systems.
- Respage: Last year, Respage landed at No. 36 on the Business Journal's annual Soaring 76 list of the region's fastest-growing companies. It saw two-year growth of 35.84%. Based in Narberth, Respage is an AI-driven apartment marketing and lease solution firm that amid the pandemic helped multifamily complexes navigate social distancing restrictions and then shifted to leads. Last year, the company launched a new AI software application aimed at nurturing apartment prospects.
Questions about Inno Madness? Read the contest rules here.
