On Tuesday, Arlington, Va.-based Eastern Foundry, a co-working space provider and startup accelerator for businesses that cater to federal clientele, announced the 9 finalists who will be part of the final stage of Foundry Cup. This year's Foundry Cup competition theme is portable power technology and how it can advance the military, work of emergency responders and capabilities of developing nations.
Participants will pitch their company and products to an experienced panel of judges, that includes representation from prominent defense-centric VC firm In-Q-Tel and the National Renewable Energy Laboratory, to decide the most promising venture.
"Enhancements in portable power technology is greatly needed over the next few years for both the military and federal government," Andrew Chang, Eastern Foundry managing partner and co-founder, told DC Inno, "with the modern soldier spending 5-7 days in the field away from reliable power, and not enough time to set up and break down solar cells, the military is in dire need of a fast and easily deployable energy source."
Chang previously served in the U.S. military as an intelligence officer and Korean linguist. He was also one of the first employees at Arlington, Va.-based Endgame, a prominent cybersecurity firm with close ties to the NSA, Department of Defense and larger intelligence community.
The Cup
The startup pitch competition, founded in 2014 alongside the veteran-focused accelerator, aims to discover and then grow high potential startups capable of disrupting their respective markets. The winner will scoop $10,000, while a runner up will receive $5,000. A $1,000 prize is also given to the “People’s Choice” winner—decided by the crowd attending the final demo day on March 25.
The judges panel at this Foundry Cup Final boasts some influential characters that are intertwined in the Fed's renewable, clean and new energy investment apparatus. It includes New America senior advisor Sharon Burke, who specializes in studying the national security implications behind energy policy and technology; Kyle Teamey, lead energy investment specialist for In-Q-Tel; and Tom Morehouse, executive advisor to the National Renewable Energy Laboratory.
"Energy issues are, and will remain to be, a huge issue in this country. By giving this opportunity to showcase creative solutions to our energy crisis, we are helping to move the needle in the right direction towards a more sustainable future," said Eastern Foundry co-founder Geoff Orazem in a statement.
Here are the 9 startups competing for the Foundry Cup:
Besstech (Troy, New York)
- Background: Founded in 2010 as a spin-off of the SUNY Polytechnic Institute, Besstech has received technology grant funding from the National Science Foundation (NSF), New York State Energy Research and Development Authority (NYSERDA) and private investments from venture capitalist.
- What they do: "Improve the battery systems manufactured by assemblers and OEMs, providing them with high-performing electrodes." Specialist in electrode design and engineering.
Energy Intelligence (Buffalo, New York)
- Background: this clean energy startup was founded in 2010 and employs 6 professionals. CEO Daniel Shani previously worked with Capgemini Consulting.
- What they do: their technology is used to harness emission-free electricity from the braking power of vehicles in places with high densities of traffic.
Goal Zero (Bluffdale, Utah)
- Background: retail partners for this startup already include Cabela's, REI and Dick's Sporting Goods.
- What they do: a developer of easy-to-use portable solar power products
New Wave Combustion (West Palm Beach, Florida)
- Background: an energy related R&D firm
- What they do: a developer of modular, multi-purpose gas turbine engines for numerous industries
Reshma Atri (Arlington, Va.)
- Background: this is not a company but rather a single entrepreneur with an early stage venture/idea
- What they do: portable biogas plants for remote locations. Biogas plants are industrial facilities that can produce renewable energy by fermenting decaying waste, thereby harnessing heat energy.
SiNode Systems (Chicago, Illinois)
- Background: "SiNode technology utilizes a composite of silicon and graphene in a layered structure, which was developed, optimized, and patented by our team working in collaboration with researchers at Northwestern University and Argonne National Laboratory."
- What they do: a developer of materials used for advanced Lithium-ion batteries, used to power numerous devices.
SilLion (Boulder, Colorado)
- Background: founded in 2014 with the technology created at the University of Colorado. Formerly called Red Cloud Communications.
- What they do: scalable “drop-in” tech for Lithium-ion batteries, using advanced materials for improved battery longevity.
SIVA Cycle (Boston, Massachusetts)
- Background: founded in 2011
- What they do: builder of a hardware device that can harness kinetic energy from bicycles to power mobile devices
Tectonica (West Melbourne, Australia)
- Background: "Tectonica is focused on providing Australian and International Departments of Defense, Defense Industry, Government and Security Clients with cutting edge technology to meet the capability challenges of the future."
- What they do: developers of a wearable power and data management distribution system, capable of being carried by a solider in a combat zone. This includes, but is not limited to, solar panel backpacks used to power other devices.
