Mike Bradshaw, Co.Lab's executive director, talks about the Gig Tank in this 2013 file photo.Some big corporate names are partnering this year with Chattanooga's GigTank, beefing up the summer-long accelerator program's power and promise for the startups it takes under its wing.
Alcatel-Lucent, Verizon Wireless, HomeServe USA, UPS Connect, US Ignite and Mozilla are on the list. There will likely be more, but Co.Lab, which runs the program, is still firming them up.
The corporations and organizations have agreed to make their market access and industry expertise available to the startups selected for the program.
"Those are things our startups need to be successful," said Mike Bradshaw, Co.Lab's executive director. "Everything we've done has built up to this."
Co.Lab plans to accept five to seven startups this year, in order to offer concentrated nurturing. Last year, there were about a dozen participants. The program runs May 4 through Aug. 14. Participants get free housing at the University of Tennessee at Chattanooga, May 25 to July 31. Co.Lab today will start taking applications.
What is GigTank?
A boutique accelerator for seed-stage startups developing ultra high-bandwidth business applications. It runs May 4 - Aug. 14. Getting into GigTank Co.Lab, the nonprofit organization formally known as Company Lab, plans to accept five to seven startups. Strong preference will be given to applicants who place ultra-high-speed, low-latency networking at the core of their business models. Candidates include startups focused on connected devices, tele-presence, urban analytics, 21st-century learning and other broadband-driven applications. The program will include two additional slots for 3D-printing startups focused on distributed manufacturing. These companies will work closely with Reality AM, a 3D-printing consultancy that grew out of GigTank 2014. For more information and to apply, check thegigtank.com.
This is a defining year for the annual program, thanks to major pushes from the likes of Google and other providers to get high-speed Internet in more places across the nation, Bradshaw said. "It's no longer a matter of if, but when," he said.
Since GigTank launched in 2012, its startups, in a sense, have worked in isolation; all of the nation didn't have the Gig-speed Internet and infrastructure Chattanooga offered, so their innovation at times was limited.
With that changing, GigTank can broaden its scope.
The big partners will not only lend resources, but have the chance to pose company problems to the entrepreneurs so that they can innovate on them. Perhaps more promising, the companies and organizations will have a front-row chance to see what the startups yield.
"Make it a test kitchen," Bradshaw said. "This year is for that. We think we can provide a meaningful opportunity for corporations to engage here."
As for the startups, the program could help them get seed-capital investment and lets them connect with the big partners, said Alex Lavidge, director of GigTank 2015. They also could later find their way to other accelerators, he said.
Last year's GigTank launched several notable startups, among them GridCure and Feetz. GridCure has advanced to 500 Startups, a seed-fund and accelerator program based in Silicon Valley. Feetz is a finalist in the South by Southwest SXSW accelerator competition in Austin, Texas, in March.
Co.Lab expects to have a separate GigTank arm this summer that will focus on 3D-printing, also known as additive manufacturing, the focus of last year's GigTank. Information on that is forthcoming.
Contact staff writer Mitra Malek at mmalek@timesfreepress.com or 423-757-6406. Follow her on Twitter @MitraMalek.