An Ohio company will make its pitch Wednesday at AlphaLab’s Demo Day, the first in a collaboration that is intended to expand startup companies’ access to venture capital and new markets.
Atumate, a “graduate” of the Cincinnati-based small business accelerator called the Brandery, will join eight AlphaLab startups in making presentations at Demo Day, which will be held at the New Hazlett Theater on the North Side. Mayor Bill Peduto is scheduled to kick off the event at 6 p.m.
“This is an experiment to share our access to investors,” said Terri Glueck, director of community development at AlphaLab. “It’s part of the model that we’re constantly experimenting with.”
As part of the program, an AlphaLab “graduate” company will pitch at another business accelerator’s demo day, but the date hasn’t been set. Demo days allow companies to introduce products and services to the public and potential investors.
Olivier Lemaitre and Andrew Carl founded Atumate last year in Cincinnati to allow scientists to do lab tests and use instruments through a wireless connection. Atumate will join AlphaLab companies Sqwad Sports Inc., Strix, uTranslated and others in making pitches.
Collaborating with other startup accelerators has a number of advantages for fledgling companies, including increased exposure to investors and potential customers, AlphaLab Executive Director Jim Jen said. “Having a stronger network ultimately helps the company, which is the goal. “It’s helping fellow accelerators, but we’re still focused on individual companies.”
East Liberty-based AlphaLab was formed in 2008 to provide mentoring, seed funding and shared work space that’s needed to launch a new company.
The first such accelerator was founded in 2005 in Cambridge, Mass., but the number of business incubators now ranges between 300 and over 2,000, according to the Seed Accelerator Rankings Project, which is based in Houston, Texas.
Kris B. Mamula: email@example.com or 412-263-1699