October 14, 2014
Written by Will Lowry
Applications for the Texas Tech University Office of Technology Commercialization's second annual TECHCELERATOR program opened to community entrepreneurs and students Oct. 1. The program is available to entrepreneurs, aspiring entrepreneurs and Texas Tech students who are looking for a new enterprise opportunity.
“The TECHCELERATOR is a unique opportunity for Texas Tech to pair our best technologies with faculty, entrepreneurs, students and the private sector to accelerate new businesses and support startup companies,” said Texas Tech President M. Duane Nellis.
TECHCELERATOR, a venture accelerator designed to launch new companies created around Texas Tech intellectual property, was founded in 2013. The program combines university innovations, faculty inventors, entrepreneurs, students and mentors with a curriculum based on a scientific approach to launching new companies and moving inventions from the lab to the market.
“Many people want to be entrepreneurs, but think they can't unless they invent something, which is a misconception” said Ryan Reber, director of TECHCELERATOR. “We are seeking the next great entrepreneur as this program aims to pair the hundreds of innovations, inventions and the faculty inventors at Texas Tech with aspiring entrepreneurs who are looking to find the perfect opportunity.”
The four-month program provides teams of faculty inventors, entrepreneurs and students the opportunity to select an innovative technology owned by the university and provides access to collaborative workspace, coaching from top industry mentors and access to investors and venture capitalists.
“I was successful in securing funding from the Small Business Tech Transfer grant, but it wasn't until my time in the TECHCELERATOR that I was truly prepared to accelerate the growth of my startup,” said Jeevan Maddala, a participant in last year's program. “TECHCELERATOR equipped me to be an entrepreneur and helped connect me with investors to move my start-up to the next level.”
Intellectual property available to participants consists of technologies being developed and discovered by Texas Tech researchers every day. A wide variety is available, including 3D printing technologies, new pharmaceutical drugs and medical treatments, microfluidic devices, vaccines, energy technologies and new software solutions.
“Innovation and entrepreneurialism is a critical next step in Texas Tech becoming a major national research university,” said Robert Duncan, vice president for research. “Programs like TECHCELERATOR provide outstanding opportunities for our faculty and students to start up promising new companies, based on Texas Tech's intellectual property, in conjunction with aspiring entrepreneurs in the community.”
The program begins Jan. 14 and concludes with Demo Day on May 13, when companies present their businesses to an audience of venture capitalists, angel investors and business leaders in a fashion similar to the hit TV show “Shark Tank.” The top TECHCELERATOR companies at Demo Day will compete for a prize to visit an entrepreneurial hub such as Silicon Valley.
For more information, or to fill out and submit an application, visit our website.
The objective of the ORC is to form strategic alliances to bring new products, ideas and concepts to the marketplace utilizing professional research, legal and commercialization services and unparalleled integrity.
The ORC serves the entire West Texas region. If you are an inventor, investor, or just interested in learning more about technology commercialization, visit our web site for more information or call (806) 742-4105.