Two local venture teams are one step closer to bringing their products to market.
Three teams pitched products to potential investors, companies and regional economic development representatives during Demo Day on Wednesday (May 13), an event organized by the Kinetic Accelerator, Innovated by Texas Tech program and the Texas Tech University Office of Research Commercialization.
Nanovations, a high-energy, rapid-charge battery storage technology, and SepsiSure, which could lead to faster and cheaper sepsis diagnoses in the medical field, garnered an equal number of votes from the audience after their presentations.
After winning the competition, both teams will receive an all-expenses-paid trip to Colorado to take part in Denver Startup Week from Sept. 28-Oct. 2.
“The purpose of the trip is to continue the discussion about entrepreneurship, raising capital to launch a business, and introduce them to multiple investors and business owners in the Denver area,” said Lisa McDonald, director of the Kinetic Accelerator program. “This trip is all about exposing the teams to working ventures and businesses and additional resources as they continue their entrepreneurial pursuits.”
The third venture team at Demo Day presented CryptCrate, a software program designed to protect personal data during storage in the Cloud.
Votes were cast by members of the audience, which included venture capitalists, angel investors and representatives from the Lubbock Economic Development Alliance, the Lubbock Chamber of Commerce, the city of Lubbock, Reese Technology Center and other startup companies.
The Kinetic Accelerator, Innovated by Texas Tech program de-risks technologies discovered and developed at university, government and corporate research labs.
“This was an enlightening experience to learn how early stage technology can leave the lab and be put into practical use,” said Michael Buckberry, team leader for SepsiSure. “I feel like I saw the beginning of innovation and the process to reach the market.”