Spring 2018 AFRL Commercialization Academy Demo Day Teams Announced
Five teams are preparing their startups to pitch live at the Spring Demo Day on May 31, 2018
ROME, NY – Griffiss Institute and Wasabi Ventures, together, are pleased to announce the five teams of the Spring 2018 AFRL Commercialization Academy Cohort, two of which, are local to the Utica-Rome area. These tech transfer teams are being incubated while building their startups around Department of Defense Intellectual Property (IP) from the Air Force Research Laboratory Information Directorate (AFRL/RI) in Rome, New York.
During a four-month commercial viability process, these entrepreneurs receive an abundance of tools and resources, including an educational platform that teaches the logistics of building a startup. Each lab technology, and entrepreneur, go through an intense vetting process to further explore the commercial viability of the technologies. The entrepreneurs seek to develop and test strategies to build sustainable startups, eligible for licensing opportunities. Every entrepreneur has embarked on an acceleration process to build a piece of IP into a sustainable startup.
The AFRL Commercialization Academy is a Griffiss Institute entrepreneurial education program sponsored by AFRL/RI. Griffiss Institute has partnered with Wasabi Ventures, a successful venture capital firm, to run the academy since 2015. The program is designed to be complementary to local startup programs, and to permit participants to leverage all additional non-program resources they may be eligible for.
“We continue to grow the Commercialization Academy to have a greater impact on the local and state economy and technical ecosystem. Our expectations are that this effort will continue to be recognized by the Department of Defense and New York State, with increased positive support by each entity for future growth,” says Griffiss Institute Technical Director, Frank Hoke. [keep reading]
The Commercialization Academy is a Griffiss Institute entrepreneurial education program sponsored by the Air Force Research Laboratory Information Directorate (AFRL/RI). The Griffiss Institute has partnered with Wasabi Ventures to run the academy in 2015, and once again, in 2018. The Academy pairs high-caliber founders with high-potential AFRL technologies with the goals of developing entrepreneurial leaders and launching new technology ventures.
The Commercialization Academy program is derived from the proven Wasabi Ventures Academy curriculum and acceleration process which has supported more than 200 startups over the past decade, consists of three component tracks which run concurrently:
- Entrepreneurship education for founders
- Technology due diligence, ideation and market validation
- Team and Company formation, technology licensure and business acceleration
The 2018 Commercialization Academy program will begin with teams drawn from across the country, and comprised of students, veterans and seasoned business professionals. All teams will complete the 6-month Commercialization Academy curriculum developed, and achieve important milestones that will qualify them to pitch to local investors, stakeholders and funding partners at a 2018 Demo Day.