News

DHI Business Acceleration Program will help Bhutanese entrepreneurs launch new ventures.

The IC² Institute of The University of Texas at Austin is pleased to announce the commencement of a new project in Bhutan, together with Druk Holding and Investments (DHI – www.dhi.bt ). This initiative is called the DHI Business Acceleration Program, or DHI BizAP.

DHI was established in 2007, comprising 20 different companies operating in the manufacturing, energy, natural resources, financial, communication, aviation, trading and real estate sectors. The Royal Charter for DHI mandates to “promote and encourage entrepreneurship and business development through venture capital and other required institutional support.” In keeping with the important mandate to promote and support private sector development, a holistic approach to entrepreneurship development is proposed, initially targeted mainly towards promoting Cottage and Small Industries (CSI) sector.

DHI has engaged with the IC² Institute due to the proven IC² methodology, which has been employed with success in over 40 countries around the world, creating more than USD $3 billion in economic impact. IC² programs have taught best practices in technology transfer, entrepreneurship, incubation management and new enterprise commercial acceleration.

This program has already begun, with online training of DHI staff via the IC² Innovation Readiness Series™, with in-country activities that began in September, and with a formal launch supported by His Majesty the King of Bhutan in conjunction with the Royal Wedding Day Seventh Anniversary celebrations on October 13.

DHI BizAP includes:

Training: structured training for selected Bhutanese entrepreneurs, with focus on commercializing business ideas and launching businesses in the market, delivered by global experts in innovation and entrepreneurship, using the proven and patented IC² entrepreneurship training methodology. Selected entrepreneurs will experience a balanced mixture of face-to-face, virtual distance learning and homework assignments.

Funding: opportunity for all entrepreneurs selected to pitch their business to the Business Accelerator Fund panel, and the chance to qualify for capital infusion.

Mentorship: establishment of mentoring relationships, in both Bhutan and internationally, to aid the entrepreneurs in developing a high-impact entrepreneurial venture, building business linkages and networks, and accessing markets for their goods and services.

Advisory services: experts available to provide specific mentoring HR, legal, accounting, etc.

For each of the three 3-month cohorts comprising this initial program, a total of 15 of the applicants exhibiting the highest potential for success will be competitively selected, based on proven IC² Institute selection criteria.

The DHI initiative is the latest in a series of IC² Institute engagements in the South Asia region going back over a decade. Currently, IC² operates the Nexus Startup Hub at the American Center in New Delhi; the XLr8AP Technology Accelerator in Andhra Pradesh, India; and the South Asia Connect program, which links entrepreneurs and startup ecosystem leaders from Nepal, Bhutan, Bangladesh, Sri Lanka and India.

For more information:

• Druk Holding and Investments (DHI)
• IC² Institute programs in India and South Asia

Photo credit: Michael Foley CC BY-NC-ND 2.0

What can happen when mid-career managers from a global supplier of electric power systems connect with members of the UT Korean Student Association (KSA)? Business can happen!

Over pizza and short presentations at the IC² Institute, four visiting scholars from LSIS in Korea got acquainted with a group of graduate students from KSA. In its 9th year, the Institute’s Global Leadership Management Program, which trains LSIS managers in American business practices, connected its Korean visiting scholars with KSA members to talk about business opportunities in Korea.

After a welcome to The University of Texas at Austin provided by Jenn Wang of the Office of Development, Salvador Alanis and Greg Pogue described IC²’s technology commercialization programs in Korea, including initiatives in Seoul and Daejon, Jeolabuk, and Gyeonggido provinces in Korea.

IC²’s relationship with LSIS runs deep: LSIS chairman and CEO Dr. Ja-Kyun Koo, himself a UT Austin PhD, is a generous supporter of the University through his leadership of the Korean Alumni Association and involvement on the University’s International Board of Advisors.

All attendees at the reception seemed grateful for the chance to share ideas and make connections that might pay off back in Korea, after their time in Austin is over. KSA students expressed interest to engage in commercialization programs IC² offers through the Austin Technology Incubator in Austin and global initiatives in Korea.

For more information:

• IC² Institute Korea programs
• LSIS
• Korean Student Association

On the occasion of the Activation Ceremony of the Army Futures Command (AFC) on August 24, 2018, the IC² Institute announced its plan to support the AFC mission by facilitating links to the Austin deep tech community.

The Army Futures Command is a major new initiative to modernize the Army’s technological capabilities and has been described by military officials as the most significant reorganization of the army in 45 years. Its mission is “to lead the future force modernization enterprise and deliver lightning-fast innovative solutions with leading talent, technology, and ideas.”

Austin was chosen as the headquarters for the AFC after a competitive process among 150 U.S. cities. The Army chose Austin in order to place the command in a center of innovation with ready access to talent, a thriving entrepreneurial ecosystem, and leading academic research institutions.

“The IC² Institute’s history as an interface among industry, government, and The University of Texas at Austin makes it well placed to help AFC create and strengthen connections,” said Gregory Pogue, Interim Executive Director of the Institute. “IC² programs such as the Austin Technology Incubator constitute a ready-made pipeline to Austin’s deep tech startup community.”

The Activation Ceremony at the University of Texas System marked the official launch of the AFC and its new headquarters in Austin. The gathering of military and civilian officials was addressed by Secretary of the Army Mark T. Esper, Governor Greg Abbott, Senator John Cornyn, Austin Mayor Steve Adler, and General Mark A. Milley, followed by remarks from the Commanding General of the AFC, Lt. Gen. John Murray.

For more information:

• Army’s high-tech center officially debuts today in Austin , Austin American-Statesman
• Army Hopes New ‘Futures Command’ Will Speed Development, Acquisition, Wall Street Journal
• ‘There is no better place’: Officials establish US Army Futures Command HQ in Austin, KVUE

IC² Institute board member Pike Powers with Lt. Gen. John Murray

In preparation for its 30th anniversary, the Austin Technology Incubator re-emphasizes focus on startups with complex technologies.

The Austin American-Statesman has published a feature story on ATI’s renewed connection with The University of Texas at Austin and the incubator’s unique role in the Austin startup ecosystem. The story also highlights ATI’s work with member companies EQO, H2Optimize/Hydroid, and Yotta Solar.

ATI director Mitch Jacobson explained what he means by deep tech. “We’re not doing things around parking apps and dating apps. We’re doubling down on deep tech, which involves trying to solve big problems with big solutions… That can be clean air, clean water, drugs around cancer or new carbon capture technology.”

The story was released Thursday on the 512Tech.com site and will be featured in this Sunday’s business section. Read it here.

To rebuild the brand, Austin Technology Incubator focuses on ‘deep tech’
Austin’s first tech incubator is working to raise its profile and play a larger role within UT and the Austin startup scene.
Lori Hawkins, Austin American-Statesman

Photo: Amanda Voisard, Austin American-Statesman

San Antonio startup NDE is commercializing breakthrough energy storage solutions.

New Dominion Enterprises, Inc. (NDE) announced this month that they have joined forces with IC²’s Austin Technology Incubator to help commercialize the next significant step forward in energy storage. New Dominion has negotiated an exclusive license with Idaho National Laboratory (INL) for the patents securing the inorganic electrolyte materials that will lead to more durable, longer lasting and safer lithium batteries.

These inorganic electrolyte materials were invented by NDE Chief Scientist and co-founder, Dr. Mason K. Harrup, while he was an Advisory Scientist at INL. NDE’s first product is an electrolyte “additive” that was fully developed and tested under a U.S. government contract. After forming New Dominion with his co-founder Jay Fraser, Harrup continued to innovate and subsequently NDE filed two additional patents covering company-owned intellectual property for a full replacement 100% inorganic electrolyte. These technologies address the heat-related downsides of organic electrolytes thereby improving useful life and reducing safety issues.

When asked how the relationship with ATI evolved, NDE’s president and co-founder, Jay Fraser explained: “This past fall ATI invited us to participate in a market research report as part of a Department of Defense program to explore market acceptance of new technology. Through that program we became interested in ATI and their Clean Energy initiative and began the application process to become an ATI member company. Affiliation with ATI, and through it, IC² and The University of Texas at Austin will help us backstop our management team with skilled mentors and advisors in some of the areas that a small company simply doesn’t have the resources to hire full time.”

Mitch Jacobson, Director of ATI, commented: “We recognize the value of the New Dominion deep technology solution and the potential breakthrough for longer lasting and safer lithium batteries and are excited to have them as a member company.” NDE’s inorganic electrolyte technology has significant market potential in consumer, industrial and defense applications, having been successfully tested in a Department of Defense sponsored program at INL. The application of the technology goes well beyond standard consumer products to also include larger power cells for electric vehicles and energy storage. NDE is now scaling to production levels and commercialization.

About NDE

New Dominion Enterprises is an early-stage technology company commercializing a suite of inorganic electrolyte materials for lithium batteries that will lead to more durable, longer lasting and safer lithium batteries. The first product, an additive, is fully developed and tested, and is in the process of being scaled up.

For more information

• New Dominion Enterprises
• New Dominion Electrolyte Additive Brief Technology Assessment Report, IC² Institute, January 2018
• SA startup developing less flammable battery technology, San Antonio Business Journal

ATI member company Environmental Quality Operations (EQO) took home a $100,000 Diamond prize in the inaugural cohort of the MassChallenge Texas competition.

At the August 15 MassChallenge Texas Awards Ceremony, eight startups were awarded a total of $510,000 in equity-free cash prizes.

EQO uses molecular biology to protect lakes from invasive species. Its flagship product is a zebra mussel monitoring and detection service. Zebra mussels are an invasive species with numerous harmful and costly effects, from competing with native fish to clogging pipes in water systems.

EQO joined the Austin Technology Incubator in 2017. Prior to joining, EQO participated in ATI’s SEAL summer accelerator.

MassChallenge is a global network of zero-equity startup accelerators. MassChallenge Texas launched in April 2018 with a cohort of 84 companies.

For more information

• MassChallenge Texas Awards $500K in Equity-Free Cash Prizes to Top 8 Startups in Inaugural Cohort, MassChallenge
• $510,000 awarded to 10 startups at inaugural MassChallenge Texas finale, Austin Business Journal
• Environmental Quality Operations (EQO)