Ten start-up companies from eight states and Canada make up the second cohort of the “Techstars Alabama EnergyTech Accelerator.” The program began earlier this month and concludes with the proverbial “Demo Day” on December 9.
According to this article, the companies specialize in technologies and business models to enhance the future of energy including artificial intelligence (AI) for the power grid, renewable energy, consumer sustainability and weather prediction. The inaugural cohort raised a combined total of more than $25 million in capital investment post-program. More important, several start-ups from the 2020 class have committed to maintaining a presence in Alabama, according to Nate Schmidt, Managing Director of the accelerator.
The “Techstars Alabama EnergyTech Accelerator” is supported by Alabama Power, Economic Development Partnership of Alabama, Alabama Department of Commerce, Altec, PowerSouth, University of Alabama, and Southern Research.
Recruitment continues for the inaugural “Techstars Industries of the Future Accelerator” scheduled to begin January 24 in the Knoxville-Oak Ridge region. Interest has been high, according to Tricia Martinez, Managing Director. Applications close October 6, the day after Knoxville’s annual “Startup Day.”