Aerate, a student-founded startup behind a high-efficiency air conditioner unit, took the main prize at Penn Wharton Entrepreneurship’s Startup Challenge on Friday.
With the 30,000 cash prize — plus another $15,000 in in-kind services — the nascent startup will continue work on its air conditioner unit, a high-efficiency product that pledges 20 times the efficiency of existing air coolers and also acts a dehumidifier.
“The Startup Showcase prize money and in-kind services will be hugely impactful for Aerate’s continued development,” the founders said in an email. “We already had plans to build the next iteration of our prototype in the next several months, but we were not sure how to fund it. Now that we have the funding, we will be continuing our prototyping to optimize our system further.”
Specially designed for high-humidity environments — like India, where CFO and cofounder Ashwin Kishen’s family lives — the Aerate unit is expected to go to market in 2021.
Aerate battled against a wide lineup of Penn startups, from the makers of an advertising platform for rideshare vehicles to a biosensing system for the fruit supply chain.
Should you invest in MBA candidates? This fund thinks yes
Watch these 7 Penn startups battle each other for $135,000 in prizes
Catch live pitches from the companies in Philly Startup Leaders’ accelerator
Why Linode sent this manager to Mumbai for 7 months
At LIFT Labs Demo Day, a glimpse of Philly as a global startup hub
SEED SPOT wants to be the safe space where your (finally) pitch your company
Jefferson is hosting a pitch competition for cannabis entrepreneurs
This financial services firm offers global opportunity in the heart of Philly
Sign-up for daily news updates from Technical.ly Philadelphia