Techstars Alabama EnergyTech Accelerator

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Techstars Alabama EnergyTech Accelerator is a Birmingham-based "accelerator" program for new businesses. It was launched in 2020 as an affiliate of the Boulder, Colorado-based Techstars mentorship and investment group. The focus of the Alabama EnergyTech Accelerator is to boost startup companies from around the world that are working in "smart city" initiatives, the "internet of things", industrial electrification, and electric transportation.

Interested startups apply to the annual program and are screened by Techstars network staff, including the local managing director. Ten companies which are accepted are each given $20,000 in exchange for a 6% stake in the business, and a convertible note of $100,000 redeemable with additional equity. The companies complete a 13-week mentorship, growth and investment program, and then make public presentations to investor groups in hopes of securing additional startup capital. Additional perks for participants include lifetime access to the Techstars network and $25,000 to $100,000 worth of Amazon Web Services credits.

The Birmingham accelerator program is supported by Alabama Power, the Economic Development Partnership of Alabama, Altec, PowerSouth, the University of Alabama, Southern Research and Hardware Park. Additional public support from the Alabama Department of Commerce was made available through the 2019 Alabama Incentives Modernization Act.

The first managing director for Techstars Alabama EnergyTech Accelerator was Nate Schmidt, and Brooke Gillis was program director. In 2023 Schmidt was promoted to a leadership role in the Techstars network and was succeeded by Matt Jaeh. In February of that year Gillis was named CEO of Innovation Depot, and was succeeded by Rae'Mah Henderson. The program itself relocated form the Denham Building to Innovation Depot.

Alumni companies

  • 2020: Ashipa Electric, Con.doit, Elektrik, EnergyHawk, Project Canary, Resilient Power, ShipShape AI, Sync Energy, TruSpin, Virimodo
  • 2021: Accelerate Wind, Birdstop, Flux Hybrids, HData, Khepra, Moduly, Noteworthy AI, Sunairio, Sustaio
  • 2022: Ecolytics, Eneryield, Hop In Technologies, Idyllo, Latimer Controls, PowerTechs, Rivalia Chemical Co., ShipShape Urban Farms, Solar Unsoiled, WhyGrene

References

External links

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