AVNET, INC. Program supported by partners Avnetand Panduit
mHUB, one of the nation's leading independent hardtech innovation and manufacturing centers, will welcome nine high-growth startups to Chicago to participate in the premiere cohort of itsAccelerated Incubation, a six-month, hands-on accelerator focused on hardtech product development and commercialization. The nine selected teams were chosen from a pool of nearly 500 applicants, 27% of whom were international teams.
The program will commence on May 17in Chicago. It is supported by partnersAvnetandPanduitwho will engage with the startups over the course of the program, providing mentorship and guidance for strategic connections within industry.
The cohort is the result of a rigorous selection process that included an advisory of industry experts, venture capitalists, manufacturers and serial entrepreneurs. The startups selected are demand-driven, solving real manufacturing and logistics challenges, putting the industry on a path to higher resiliency, productivity, worker safety and sustainability.
'We created the mHUB accelerator to expedite the path to commercialization for high potential hardtech startups and provide them with early seed capital that's so scarce for hardware as compared to software,' saidHaven Allen, mHUB co-founder and CEO. 'The Midwest region's history as a manufacturing capital as well as its current recognition as a hotbed of investment activity means that the future of hardtech innovation can and will happen here.'
In alphabetical order, cohort teams include:
- Ant Robotics(Oakland, CA):building a robot operation and dispatching system for warehouses and factory floors;
- Ascent Integrated Tech(Champaign, IL): enhancing PPE with sensors and communication capabilities that improve safety and productivity in hazardous environments;
- Compocket(San Francisco, CA):miniaturizing electronic measurement instruments in pocket format that connect to smartphones;
- Iothic(Oxford, England):providing IoT end-to-end systems with post-quantum resistant security and a full interoperability communication platform;
- Maxwell Labs(Minneapolis, MN): designing component cooling solutions based on solid-state using thermo-electric coolers controlled by machine learning algorithms;
- Propulsioneers(San Francisco, CA):developing technology building blocks designed for autonomy and driven by software for maximum output and minimal footprint;
- Rapids Air Quality(Grand Rapids, MI):creating local air pollution monitoring solutions for cities to bring greater transparency to the disparities of air quality within communities;
- Stroma Vision(Chicago, IL): building computer vision models to understand human physiology in industrial settings and stop preventable accidents;
- Third Wave(Chicago, IL): building a customizable, low-code IoT platform to rapidly deploy end-to-end wearable solutions, such as their productCareBand, that use long-range, low power connectivity.
mHUB will launch additional sector-specific accelerators approximately every six months for the next three years with the next cohort focused on Medtech later this year.For more information visitwww.mhubaccelerator.com.
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About mHUB
mHUB is a leading independent hardtech and manufacturing innovation center that exists to convene the entrepreneurial ecosystem around physical product innovation to ensure that the manufacturing industry continues to accelerate, grow and thrive. The mHUB community includes over 428 active and alumni startups and small businesses supported by a deep talent pool of product designers and developers, entrepreneurs, engineers and manufacturers, corporate leaders, industry experts, mentors and investors. mHUB provides a hyper-resourced environment to entrepreneurs with the goal of commercializing new hardtech innovation that will lead to new businesses, intellectual property, investment, revenue and job creation. Since launching in 2017, the mHUB community has generated more than $430M in revenue, launched more than 1,256 products, hired more than 2,153 employees, and raised nearly $702M in capital. For more information go towww.mhubchicago.com.
About Avnet
As a leading global technology distributor and solutions provider, Avnet has served customers' evolving needs for an entire century. We support customers at each stage of a product's lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet atwww.avnet.com.
About Panduit
Since 1955, Panduit's culture of curiosity and passion for problem solving have enabled more meaningful connections between companies' business goals and their marketplace success. Panduit creates innovative electrical and network infrastructure solutions for enterprise-wide environments, from the data center to the telecom room, from the desktop to the plant floor. Headquartered in Tinley Park, Ill., USA and operating in 112 global locations, Panduit's proven reputation for quality and technology leadership, coupled with a robust partner ecosystem, help support, sustain, and empower business growth in a connected world. For more information, visitwww.panduit.com.
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Avnet Inc. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 15:04:06 UTC.
