Two local startups, Coatesville-based H2O Connected and Philadelphia-based PACE AI, have been selected to participate in a newly launched accelerator aimed at introducing promising technologies to the hospitality industry.
The accelerator, which the Montgomery County Economic Development Corp. in Maryland debuted this week, features a cohort of six companies, all developing technologies focused on sustainability. Montgomery County Economic Development Corp. chose sustainability as the theme of the first cohort after noticing that companies like Marriott International Inc. and Choice Hotels International Inc., which are headquartered in the Maryland county, had been setting aggressive targets for things like reducing waste and lowering carbon emissions.
Marriott (NASDAQ: MAR), for example, has said that by 2025 it wants to reduce food waste by 50% and generate a minimum of 30% of its energy from renewable sources. Choice Hotels (NYSE: CHH) has set its own sustainability initiatives, such as phasing out the use of single-use polystyrene by 2023 and eliminating single-use shampoos and other bath amenities by 2025.
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"Future cohorts will likely address different technological elements of the hospitality industry, but we're going to cross that bridge when we get there," said Patty Simonton, strategic initiatives manager for the Montgomery County Economic Development Corp. "We're really looking to strengthen the relationships that we have with some of the hot hotel brands here, connect with their innovation leads, align as best we can and say, hey, 'how can we help you fill any of the gaps that you have?'"
The six companies in the first cohort will participate in a 10-week accelerator where they will be given guidance on how to refine their technology and eventually make their pitches to hospitality firms' senior leaders.
“Our goal is really to help with that final step,” said Simonton. “[Companies] have solutions but if they're not familiar with the hotel industry and the complexities involved in doing business with these industries or with these companies, it's going to be very difficult for them to navigate. What we've done is really developed a whole mentor network of hotel industry experts who will help them navigate through that labyrinth.”
The six companies in the cohort are:
- Ecotone Renewables, a Pittsburgh-based sustainable waste management company that provides an on-site automated solution for converting food waste into methane gas and liquid fertilizer.
- H2O Connected LLC, a Coatesville company that develops products to detect, alert, and quantify types of water loss problems that can occur in a tank toilet.
- Liatris, a Bethesda, Maryland, company that mass produces thermal insulation.
- INOVUES, a Houston company that makes existing windows more energy efficient.
- PACE AI, a Philadelphia startup that uses machine learning and artificial intelligence to retrofit HVAC units and monitor energy use and carbon emissions in commercial buildings.
- Re Company, a New York firm that makes reusable packaging and has developed software management to help companies lower packaging costs and reduce waste.
The program will culminate in a pitch day on June 21 at the Maryland – National Capital Park and Planning Commission Headquarters building in Wheaton, Maryland.
