The success of the Techstars Alabama EnergyTech Accelerator continues to grow, shown by the gathering of more than 500 members of Alabama’s business and tech community and Techstars for the organization’s Demo Day 2022 on Tuesday.
Ten companies from across the United States, Sweden and Canada pitched their strategies to a crowd of potential investors, corporate partners and mentors at the event. Demo Day is the culmination of a 13-week intensive program and gives the entrepreneurs an opportunity to showcase their ideas and business models to the public.
In its third year, the Alabama EnergyTech Accelerator attracted 10 startups to participate in this year’s program. Each company specializes in technologies and business models to enhance the future of energy, including energy technology, clean tech, climate tech and sustainability.
For Nate Schmidt, managing director of Techstars Alabama EnergyTech Accelerator, the cohort has made exceptional strides in three months together.
“I was really proud of our teams at Demo Day. This year’s class has been incredible,” said Schmidt. “The founders in this class were hardworking, showed up to the office every day and formed some incredibly deep bonds.”
Over the 13-week program, founders worked with more than 100 mentors from corporate and community partners across Birmingham.
“We saw a lot of progress from our teams. They made great strides on their products. Several of them made hires during the program, gained their first customers and revenue, and multiple teams raised money,” added Schmidt.
Techstars Alabama EnergyTech Accelerator’s 2022 class held its Demo Day. (contributed)
Techstars Alabama EnergyTech Accelerator’s 2022 class held its Demo Day. (contributed)
Techstars Alabama EnergyTech Accelerator’s 2022 class held its Demo Day. (contributed)
Techstars Alabama EnergyTech Accelerator Program Manager Brooke Gillis and Managing Director Nate Schmidt at Demo Day. (contributed)
Tony Smoke, senior vice president of Marketing and Economic Development at Alabama Power, speaks at the Techstars Alabama EnergyTech Accelerator Demo Day. (contributed)
Hop In COO Boyd Reid at Techstars Alabama EnergyTech Accelerator Demo Day. (contributed)
PowerTechs CEO Ksenia Solomatina speaks at the Techstars Alabama EnergyTech Accelerator Demo day. (contributed)
Rivalia Chemical Co. CEO and founder Laura Stoy speaks at the Techstars Alabama EnergyTech Accelerator Demo Day. (contributed)
Latimer Controls co-founder and CEO Simon Julien at the Techstars Alabama EnergyTech Accelerator Demo Day. (contributed)
Of the 10 companies in this year’s class, more than half announced at Demo Day they plan either to move to or maintain a presence in Birmingham.
Founder and CEO Jessica Majno announced her company, Idyllo, a home improvement marketplace, would launch in Birmingham. Majno joined the cohort from Washington, D.C., and has already made three Birmingham-based hires during the accelerator.
ShipShape Urban Farms, with a manufacturing facility in Bessemer, announced it would relocate the company’s headquarters from the Gulf Coast to Birmingham. The agritech company looks to provide safer, fresher, more cost-effective food sources by creating transportable “smart farms.”
Additional teams announced plans to continue working in Alabama with pilots and ongoing partnerships. Hop In Technologies, Rivalia Chemical, Ecolytics, Latimer Controls and Whygrene are all working with Alabama Power and other corporate partners on pilots and proof of concepts.
The accelerator has attracted 30 companies to participate in the program in its three years, and the investment in the startup community in Birmingham continues to have a ripple effect.
“Economic development has been a priority for our company since Alabama Power’s inception,” said Tony Smoke, senior vice president of Marketing and Economic Development at Alabama Power. “Seeing the impact that this accelerator is making in the growth of our city, our state and the energytech industry is a continuation of that mission.”
Schmidt announced the cohort will expand to 12 teams beginning with Techstars’ fourth class in 2023.
“We’ve had a lot of success during the first three years of Techstars Alabama EnergyTech. Next year, I’m thrilled to have the support from Alabama Power to expand the program. We’ll invite 12 teams to Birmingham in 2023, increasing from 10,” Schmidt said. “Investing is all about getting quality at-bats, and the 11th or 12th team in the class could be the next billion-dollar Alabama startup. We’re off to a great start, and I can’t wait to get back at it and build on the success of the first three years.”
The accelerator is supported by Alabama Power, the Economic Development Partnership of Alabama (EDPA), the Alabama Department of Commerce, Altec, PowerSouth, the University of Alabama, Southern Research and Hardware Park. For more information about the Techstars Alabama EnergyTech Accelerator, visit techstars.com/accelerators/alabama-power.
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