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Robotics firms have a chance to acquire as much as $100,000 of funding and take part in a six-month program geared towards serving to them with getting began and scaling. The Robotics Factory, an initiative devoted to creating, accelerating, and scaling Pittsburgh-area startups, has opened purposes for its Accelerate Program’s second cohort.
The world robotics market is anticipated to develop to greater than $230 billion by 2030, with key sectors together with logistics, healthcare, and agriculture, mentioned the Robotics Factory. Pittsburgh is a world hub for innovation, with greater than 140 robotics organizations throughout 18 vertical markets. The Robotics Factory Accelerate Program goals to foster the subsequent era of robotics startups within the space.
“The inaugural cohort of the Robotics Factory included a diverse set of companies tackling a wide array of problems including underwater surveillance, computer vision, cell processing, bicycle safety, and more,” mentioned Ven Raju, president and CEO of Innovation Works, in a launch.
“The companies benefited from value-added programming and hands-on support within key areas such as product development, customer discovery, defining and effectuating go-to-market strategy, and fundraising,” he mentioned. “Further, the companies gained access to key networks such as mentor, customer, and investor networks, which are critical in helping to launch and scale a business. ”
Accelerate Program’s first cohort finds success
Aquatonomy, a startup that focuses on underwater intelligence via autonomous robots, participated within the Robotics Factory’s first cohort. During the program, Aquatonomy validated its goal market via in depth buyer interviews, web site visits, and market analysis. This led to a profitable pilot scheduled for later this 12 months.
“The Robotics Factory is an ideal accelerator that propels Aquatonomy on our journey,” famous Dr. Xiaoyu Kaess, co-founder of Aquatonomy. “We have learned so much not only through workshops on diverse topics thoughtfully curated and offered by experts, but also through event opportunities made available to us, where we met mentors, investors, customers, media, government officials, and more.”
“The mentors and program staff support us in every way we need without reservation,” she mentioned. “We wouldn’t have made so much progress and built so many meaningful connections in the past six months without the Robotics Factory.”
The Aquatonomy crew additionally made progress in product improvement whereas collaborating in this system. The firm efficiently constructed and examined your entire {hardware} and software program techniques for its underwater robotic. This progress led to a profitable product demonstration that highlighted the robotic’s skills to gather knowledge from the depths of an underwater lake flooring.
Other firms in this system’s first cohort embrace Cell X Technologies, Grasp Robotics, Leaficient, Velo AI, and Voaige.
Aquatonomy participated within the Robotics Factory Accelerate Program’s first cohort. | Source: Robotics Factory
What to anticipate within the Robotics Factory Accelerate Program
The Robotics Factory Accelerate Program will span six months. During this time, chosen startups will transfer into the Robotics Factory’s co-working house. They’ll have entry to manufacturing and robotics sources, together with a production-grade prototype scale store. Participants will even obtain teaching and assist tailor-made to their particular enterprise wants.
In addition, they’ll have entry to mentorship alternatives with profitable robotics executives inside the Pittsburgh Robotics Network (PRN). Applications for the second cohort are open via Feb. 29, 2024.
“Our team provided the inaugural cohort over 500 hours of one-on-one coaching, 18 skill development workshops, and 250 additional hours of coaching from our experienced mentors,” mentioned Kevin Dowling, managing director of the Robotics Factory and Hardware for Innovation Works. “If you area founder looking for business support to build your robotics startup, we are here for you.”
The Robotics Factory is managed by Innovation Works (IW) and supported by the PRN. The program is funded via a $63 million Build Back Better Regional Challenge grant to the Southwestern Pennsylvania New Economy Collaborative.