Meet the 4 startups chosen for NextFab's RAPID Hardware Accelerator - Technical.ly Philly

Business

Apr. 11, 2017 12:18 pm

Meet the 4 startups chosen for NextFab’s RAPID Hardware Accelerator

They're all in the healthcare space.
Gear at NextFab.

Gear at NextFab.

(Courtesy photo)

NextFab just announced the companies that make up the 2017 spring cohort of its RAPID Hardware Accelerator.

What was the first thing we noticed? They’re all related to the healthcare and life sciences space. Just happenstance, says the makerspace’s president Evan Malone.”We had 27 applicants representing a broad array of product ideas, but these 4 rose to the top through our selection process.”

Though some may associate NextFab with consumer products (like that snow shovel that got onto QVC) or tech workshops, the company has had connections with the healthcare/life sciences space. Last fall, it offered participants at the Independence/Jefferson Health Hack access to its equipment to work on their ideas. 

For the first time, the program is investing $25,000 in the chosen companies through a SAFE agreement (a concept developed by YCombinator), which allows no equity to be taken initially. Once the company raises an equity round of financing, the investment turns into equity. Companies will also receive free office space, credit toward classes and opportunities for follow on investment.

Here are the cohort companies:

“We are working with the four finalists that didn’t get selected to help them prepare even stronger applications for the next RAPID cohort starting this fall,” said Todor “Ted” Raykov, NextFab Venture Services Manager. “It was a tough decision, because all of the finalists are working on exciting projects that could have a positive impact on our society.”

Advertisement

-30-
CONTRIBUTE TO THE
JOURNALISM FUND

Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

Philadelphia is having its best year for VC deals since 2000

Jefferson’s Bon Ku brings health design principles to his primetime TV debut

On the Market: Manage Bryn Mawr College’s new makerspace

SPONSORED

Philly

How Relay is helping enterprise clients get proactive about customer engagement

Chesterbrook, PA

Deacom

Entry Level Software Developer

Apply Now

Philadelphia

The Philadelphia Inquirer

Marketing Design Coordinator

Apply Now

Philadelphia

The Philadelphia Inquirer

Sales Analyst

Apply Now

Penn Nursing is hosting a yearlong innovation accelerator

Exton cell and gene therapy company Fibrocell will be acquired for $63.3M

Philly’s Mini Maker Faire for local inventors and crafters returns this October

SPONSORED

Philly

These hiring companies want to meet you at NET/WORK Suburbs

Philadelphia

The Philadelphia Inquirer

Digital Account Executive

Apply Now

Philadelphia OR Baltimore

Technically Media

Technical.ly Editorial Intern (Spring 2019)

Apply Now

Horsham

Penn Mutual Life Insurance Co

Product Systems Specialist

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!