The Science Inc. accelerator at the Delaware Innovation Space launched its first cohort in February, offering science-based startups five months of weekly programming, mentoring and coaching.
This week, the program expanded to include an investment option for accepted companies. All Science Inc. companies are invited to apply for $50,000 in investment from the Innovation Space and its First Fund. Funds will be distributed as a convertible note with two components: $25,000 in cash and $25,000 to support the startup’s participation in the accelerator program.
The new investment option was announced on Science Inc.’s Demo Day, when the 10 startups in the inaugural cohort presented an early look to investors, as well as strategic partners.
The startups in the first cohort were Carbon Reform, Elyte Energy, Clean Valley Bio-filtration Technologies, Extrave Bioscience, Clean Valley Bio-filtration Technologies, HARTLON, Lectrolyst, MCET Technologies, SAS Nanotechnologies and Breatheasy.
The cohort startups each participated in weekly sessions, coaching and pitch prep. Bill Provine, CEO of the Delaware Innovation Space, noted in a statement that the accelerator is tailored to each startup’s needs to help them “refine routes to market, early targets, and milestones to provide the highest probability of early success.”
“The most important asset for an early-stage startup is its people, and joining Science Inc. was like adding four rockstar exited founders to our team in one day,” said Dalton Signor, CEO and founder of smoking cessation therapeutic Breatheasy. “They’ve exposed us to new funding sources and commercialization strategies that have been instrumental to our company’s progress.”
Applications for the fall 2021 cohort are currently open through July 16. Startups must work in the science sector, including healthcare, biotech, green energy and agtech, and have a preliminary business plan.
The Delaware Innovation Space is based within the DuPont Experimental Station in Wilmington.