The latest efforts to take Air Force Research Laboratory technologies and apply them to the commercial marketplace will be showcased next month.
The Spring 2016 Commercialization Academy Demo Day is May 24 from 5 to 8 p.m. at business incubator thINCubator, 326 Broad St., Utica.
Eight startups will pitch a panel of judges and the audience on the companies they have built around Department of Defense intellectual property from Rome lab.
Votes by audience members and the judges will be held, with two cash prizes each to be given to the winners of the two best presentations of the day.
“It is great when you can find energetic domain experts with an entrepreneurial spirit who want to jump into something new and take chances on building something,” said Wasabi Ventures’ Managing Partner TK Kuegler. His early-stage venture capital firm runs the Commercialization Academy for the Griffiss Institute, in collaboration with Rome lab.
Teams selected for Demo Day had to be in the licensing process, have moved their business along so that they are on a path to a plausible company, and be able to present at the event, according to Kuegler. As part of the commercialization program, every founding team member completes the Wasabi Ventures Academy to give individuals a first-hand experience in the startup and venture capital world.
Alumni VidFall, Lilo Life and SkyTubeLive from the 2015 class will also provide updates on their companies. At last year’s Demo Day, VidFall won the $25,000 Judges’ Choice Award and Lilo Life won the $25,000 Audience Choice Award.