Start Garden Fund Will Make Two $100,000 Investments into Seamless IoT Startups
The Seamless Accelerator brings together established businesses and entrepreneurs in a model that provides the startups with access to the intellectual and commercialization capital needed to move development forward, while providing the established enterprises with easy access to emerging technologies and talent.
At the conclusion of Seamless’ First Class, total investment in participating companies exceeded $2.5 million. As the deadline to apply for the Second Class approaches, the Seamless is announcing that its partner, Start Garden Fund, the unconventional early-stage venture capital fund, will make two $100,000 investments into startups participating in its second cohort of IoT companies.
The $200,000 in investment is a new addition to the program. Selected companies will be chosen based on the results they achieve by participating in Seamless. SG Fund will announce their decisions upon the conclusion of the accelerator’s 12-week program.
This is in addition to the $20,000 in seed capital each startup receives at the start of the program. Application deadline for companies seeking to participate in the second cohort is February 1, 2016.
“Seamless is an accelerator in name, but at our core, we are a commercialization engine, bringing together enterprise-scale businesses and innovative startups to create a seamless, embedded IoT experience to market,” said Mike Morin, director of Seamless. “With this additional investment, we’re expecting draw a diverse pool of applicants, and identify companies that can have a larger impact in our world.”
Seamless is led by a consortium of six, non-competitive, enterprise partners, which include Amway (home/personal care), Faurecia (automotive), Meijer (retail), Steelcase (office environment), Priority Health (health insurance) and Spectrum Health (health care). They commit financial and intellectual investments to guide and mentor the participating startups.
The first cohort consisted of eight startups including Alsentis, Cosign, Friendly, Haas, Hoana, NoBot, Scanalytics and Tractouch Mobile. The cycle concluded with a final Demo Day where participating startups presented their businesses to the investment and entrepreneurial communities.
“Our participation in Seamless allowed us to work directly with Steelcase to develop a working demonstration kit that showcases our HSS technology, and ultimately led to funding from both Start Garden and Steelcase,” said Justin Teitt, CEO of AlSentis. “While we are no longer considered an ‘early-stage’ company, Seamless gave us access to c-suite leadership that moved our technology to the next phase of devleopment. It was an invaluable experience.”
The Seamless Accelerator consists of a three-month program, operating in semi-annual cycles. All participants receive direct access to enterprise leaders working in their field of manufacturing and design, seed capital, as well as the resources of more than 75 strategic vendor partners. Applications are now open for the second cohort through February 1, 2016. Members of the Seamless Coalition are intimately involved in the selection process. The second season of Seamless begins on April 11. Applications are available at seamlessaccel.com.
Seamless Accelerator is a member of TechStars Global Accelerator Network (GAN). Additional details on TechStars GAN, is available at www.gan.co.