STATE COLLEGE — Five technology startups recently presented their business ideas before a panel of judges and their peers with the hopes of winning up to $10,000 in prizes from Ben Franklin Technology Partners.
“We are often amazed by the innovations and inventions that we see in our TechCelerator companies. However, this spring’s cohort has mind-blowing, world-changing discoveries. I can’t wait for them to get to market and show the world these disruptive technologies,” said Bob Dornich, director of the TechCelerator.
The judges awarded Lyralux the top prize and $10,000. Developed with Penn State technology, Lyralux is an early-stage company formed to commercialize Dim to VividTM, a light source technology that enhances colors at low light levels.
The other four startups this spring included:
■ IDEAS+, a startup that uses machine learning techniques with technology developed at Penn State to speed up the drug target identification process with projected high clinical success rate and significant reduction in cost.
■ ColumnTek, a liquid chromatography company that researches and develops chiral column products to meet the needs of the chiral separation market.
■ NanoSpec Instruments, a company that builds transient spectrometers with a Penn State-developed technology for researchers in chemistry, physics, biology and materials science.
■ spotLESS Materials LLC, a startup based on Penn State technology aiming to develop and commercialize non-fouling and easy-to-clean surface coating products for toilet fixtures in order to significantly reduce water consumption and the cost of cleaning for janitorial service providers and homeowners.
The startups are graduates of this spring’s TechCelerator@StateCollege program, a pre-business accelerator held twice a year in State College and three more times throughout the year in Altoona, Johnstown and Somerset. Ben Franklin deploys a team of at least six experts along with colleagues from the Small Business Development Center in order to mentor and guide students though the steps to starting a company.
In five and a half years, 77 teams have started companies, raised more than $33 million in funding, hired 187 people and earned a combined $14 million in revenue.
Located in the Technology Center at 200 Innovation Blvd. in State College, the TechCelerator@StateCollege is a partnership among several of the area’s economic development providers, including Invent Penn State. It offers budding entrepreneurs designated space, loan and investment programs, business support and mentoring services and entrepreneurial training all housed in one location.
For more information, visit www.techceleratorstatecollege.org.
