ATDC companies raise $280.2 million in investments in 2023

Team Shot Slip Robotics
Employees of Slip Robotics. The Norcross, Georgia-based ATDC portfolio company raised $11 million in 2023. (PHOTO: Erin McDuff/McDuff Photography)

Startups in the Advanced Technology Development Center (ATDC) current portfolio raised more than $280.2 million in investment capital and created or saved more 2,021 jobs in 2023.

While the investment capital raised was down from the $305.7 million ATDC’s active portfolio companies raised in 2022, it mirrors the prevailing trend across the investment landscape, said Caroline Ford, investor relations manager at ATDC, a program of Georgia Tech’s Enterprise Innovation Institute.

“As expected, deal raise and deal volume for Georgia are down in all stages of venture capital,” Ford said, “but we are stable and holding our own relative to the past 5 years in terms of percent of deals done and percent of all capital raised among Georgia’s early-stage tech companies.”

Still, ATDC companies accounted for a large slice of the investment deals under $12 million that were done in 2023.

“While deal volume and deal amounts were weaker across tech companies raising venture capital in 2023, we are pleased that ATDC companies continued to account for about 18 percent of all reported deals done under $12 million for tech or tech-enabled businesses,” ATDC Director John Avery said. “This figure is consistent with the aggregate activity in Georgia from our companies.”

Among select deal highlights in 2023:

  • ATDC portfolio company Slip Robotics raised $11 millionFounded in 2020, Slip Robotics, whose clients include Nissan, John Deere, and Valeo, is a developer of robotic trailer technology designed to simplify the loading and unloading process of trucks.
  • Layr, a 2022 ATDC graduate, an insurance technology business that builds software to automate and digitize insurance brokerages’ small business departments, closed on an oversubscribed $10 million round.
  • Kayhan Space, a leading provider of high-performance software and solutions for space mission operations, raised $7 million in an oversubscribed seed extension round.  The company is scaling quickly as it accelerates the commercial delivery of the industry’s first autonomous space traffic coordination (STC) framework, Pathfinder™ 3.0.

There were other bright spots in ATDC’s overall 2023 results, too.

When ATDC’s graduate companies are included with the incubator’s current startup portfolio, more than $6.2 billion in investment capital was raised in 2023, up nearly 8% from the $5.7 billion reported in 2022.

What’s more, ATDC’s current portfolio and graduate companies recorded revenue of $2.43 billion in 2023 — up nearly 54% from the $1.58 billion they reported in 2022.

“Traditionally, our companies stay in business after graduating from the portfolio and will typically go on to raise later rounds of capital, bringing jobs and economic activity to the Georgia economy as they scale,” Avery said.

Greenlight, a 2018 ATDC graduate is one example, he said. The ATDC-born financial technology startup behind smart debit cards for parents monitoring their children’s spending, reached unicorn status in 2020, is now valued at $2.3 billion, and employs 515.

ATDC companies are also more likely to be acquired than their Georgia peers as evidenced with the acquisition of Medxoom, a 2023 ATDC graduate and healthcare financing platform, which was acquired by Allied Health that same year.

Jobs were also a highlight in 2023 in the incubator’s ecosystem. ATDC’s current and graduate companies reported saving or creating 14,770 jobs in 2023, up from 11,793 in 2022.

NIH awards $2.9M grant to Annoviant for heart disease technology advancement

Annoviant co-founders Ajay Houde and Naren Vyavahare, CEO and chief technology officer, respectively.

ATLANTA — Annoviant Inc. a health technology company and member startup in the Enterprise Innovation Institute‘s Center for MedTech Excellence, is receiving a $2.99 million National Institutes of Health (NIH) grant to further scale the development and commercialization of its TxGuardTM pulmonary-valved conduit for pediatric heart disease.

The award follows two Phase I NIH grants the company received, the most recent being in 2021.

Annoviant’s patented TxGuard™ stands at the forefront of technological innovation in conduit replacements for treating congenital heart disease (CHD), the most prevalent birth defect globally and a leading cause of birth-related mortality, the company said.

CHD encompasses a broad range of abnormalities that disrupt blood flow to and from the heart. It affects approximately 40,000 newborns annually — or 1% of births in the U.S. — and 1.35 million worldwide. With an estimated 2.9 million CHD patients in the U.S. alone, the need for advanced solutions is paramount.

“This marks a significant milestone for Annoviant as we accelerate our pursuit of impactful innovation to save lives,” said Annoviant CEO and co-founder Ajay Houde, Ph.D. “It validates our hypothesis and shows the NIH’s confidence in our ability to make good progress. Because we are a small startup, it gives private investors the confidence to invest with us and more companies working with us across the broader ecosystem.”

Addressing critical shortcomings observed in current commercial devices, TxGuard™ offers clinical advantages, notably its resistance to calcification, thrombosis, infection, and the host cell integration. This cutting-edge technology marks a new era in pediatric cardiac interventions, providing durable pulmonary valved grafts that adapt and regenerate alongside patients, minimizing the need for multiple re-operations over their lifetimes.

“Heart disease is the leading killer of men and women in the U.S. and is the most common birth defect in our newborns,” said Center for MedTech Excellence Director Nakia Melecio, who worked with Annoviant to help it scale and reviewed its federal funding submissions.

The Center for MedTech Excellence, which launched in 2022, works with early-stage life sciences startups that have specific obstacles that young tech companies in other sectors don’t face.

“This is a critical milestone for the company, and validates its research and work, thus far,” Melicio said. “Annoviant’s technology is tackling several challenges that the market currently faces and elevating the possibility for better patient outcomes in management of congestive heart failure.”

Pediatric patients with CHD often undergo multiple cardiovascular surgeries throughout their lives, with associated costs totaling billions for the U.S. healthcare industry. TxGuard™ offers a transformative solution to this ongoing challenge, promising extended durability and reduced healthcare burden for patients and providers alike.

He credited the company’s work with the Center for MedTech Excellence and being a health tech startup in the Advanced Technology Development Center (ATDC), the Enterprise Innovation Institute’s startup incubator, as being pivotal in Annoviant’s growth.

ATDC SBIR/STTR Catalyst Connie Casteel, who works with the incubator’s portfolio companies to help the prepare for these federal, non-dilutive funding grants, had worked with Annoviant on its federal funding approach and strategy.

“We went through the 16-week program with the MedTech Center and it really helped us think through the various aspects of the commercialization process and operational challenges we would face,” Houde said. “Greg Jungles at ATDC was also instrumental in helping us.  I’m really thankful for Nakia and his work with the MedTech Center and Greg and the team at ATDC.”

EI2 Global hosts Argentinian startups on business development tour

Alberto Ponce, who manages EI2 Global’s Soft Landing program, explains how it helps foreign companies exploring U.S. expansion navigate that complex market. (PHOTO: Péralte C. Paul)

EI2 Global,  the international outreach economic development program at Georgia Tech’s Enterprise Innovation Institute, recently hosted a delegation of startup founders and investors from Argentina who were in Atlanta on a three-day fact finding mission about the region’s startup ecosystem.

The delegation, led by Argentina’s Atlanta-based Consul General Alana Patricia Lomonaco Busto, wanted to learn about the business opportunities in the region. Attendees also wanted to see how Enterprise Innovation Institute programs such as EI2 Global’s Soft Landing program helps foreign companies determine if entering the U.S. market makes sense and how to do so to strategically to maximize success, said Albert Ponce, who manages the Soft Landing initiative.

The visitors also toured the Enterprise Innovation Institute’s Advanced Technology Development Center (ATDC) to learn how the incubator helps startups scale and connect with investors, customers, and talent.

Robert Daniel, ATDC FinTech catalyst, explains how the incubator supports Georgia’s startup ecosystem. (PHOTO: Péralte C. Paul)

While in Atlanta, the delegates will also meet with officials from the Metro Atlanta Chamber, the Technology Association of Georgia, and Atlanta City Hall.

The visit to Georgia Tech is one of several from Argentina in the last few years, as well as from other parts of Latin America, Europe, and Africa.

They are part of EI2 Global’s longstanding mission of serving as the nexus for helping businesses and economic development organizations around the world foster their own  innovation-focused, economic development ecosystems.

Bold Move to Columbus, Georgia Marks First Semiconductor Manufacturer in Region

CHIPS4CHIPS strategy, Georgia Tech collaboration, prove successful

Prashant Patil at meeting
Prashant Patil, founder and CEO of Micromize, explains to a coalition of business, civic, and military stakeholders from Columbus, Georgia and Georgia Tech leaders why he opted to relocate his company to Columbus, Georgia from Massachusetts. (PHOTO: Chris Ruggiero)

COLUMBUS and ATLANTA, GA — Innovative partnering proved successful as CHIPS4CHIPS announced the locating of the first semiconductor manufacturer in the Chattahoochee Valley. Micromize, a pioneering semiconductor manufacturer specializing in energy-efficient electronics for wearables and mobile devices, has chosen Columbus as the location for its inaugural manufacturing facility.

The move is the result of strategic partnerships between Micromize, CHIPS4CHIPS (Chattahoochee Hub for Innovation and Production of Semiconductors/C4C), and several programs at Georgia Tech’s Enterprise Innovation Institute, including its Advanced Technology Development Center (ATDC), its Georgia Manufacturing Extension Partnership, and the Center for Economic Development Research. It also signifies a collaborative effort to harness the cutting-edge innovations in semiconductor packaging available at Tech’s Institute for Electronics and Nanotechnology.

“Our decision to locate in Columbus was driven by several crucial factors and we are thrilled about the opportunities that this vibrant city presents for our growth and development,” said Prashant Patil, Micromize founder and CEO. “The work of CHIPS4CHIPS in supporting the semiconductor industry is commendable, and we are excited to be part of this innovative ecosystem.”

This exciting development was announced Tuesday, Jan. 23, at the Marcus Nanotechnology Center on Georgia Tech’s campus to a large group of state legislators and other state officials, a delegation of business and civic leaders from Columbus, and leadership from Georgia Tech and ATDC. This announcement is a true look at how statewide partnerships can lead to success for the Columbus region.

Micromize, a spin-off of the Massachusetts Institute of Technology, selected Georgia as its new home in part, to take advantage of the semiconductor packaging expertise at Georgia Tech. The company plans to establish its headquarters and manufacturing facility in Columbus, further solidifying its presence in the state’s vibrant technology ecosystem. Additionally, Micromize will center its cutting-edge research and development on Georgia Tech’s campus.

“The collaboration with Micromize is a significant milestone for CHIPS4CHIPS and the entire region,” said Ben Moser, president and CEO of United Way of the Chattahoochee Valley and Chair of CHIPS4CHIPS. “This announcement marks the first of what we believe will be many to come, and we are thankful that Micromize recognizes the potential of our region for this industry. Columbus is poised for remarkable development, and we look forward to the positive impact that Micromize will bring to our community.”

The strategic relocation is expected to create significant economic opportunities in the region. Micromize will bring 20-25 jobs to Columbus through its headquarters and manufacturing facility, contributing to the local workforce, and fostering growth.

Micromize will center its Research & Development Lab at Georgia Tech’s 3D Systems Packaging Research Center, which is regarded as the world’s best for semiconductor packaging research. This partnership represents a synergistic collaboration of industry leaders, research institutions, and the entrepreneurial ecosystem. Micromize’s move to Columbus not only underscores the city’s growing prominence as a technology hub but also highlights the collaborative efforts driving innovation and economic development in the state of Georgia.

In addition to C4C’s nationally recognized workforce development efforts, the Fort Moore army base, and its skilled workforce, the region’s proximity to a port and airport will facilitate efficient shipping, and Columbus played a pivotal role in supporting the company by providing essential infrastructure, he said.

 “Our collaboration with Georgia Tech enriches our talent pool, adds exponentially to our research and development capabilities, and access to mentorship at ATDC enhances our commercialization potential,” Patil said. “We are also proud to be part of the effort to revitalize semiconductor manufacturing in the United States, with Columbus serving as our starting point as we embark on this exciting journey of growth and innovation.”

Georgia Tech, a leader in microchips and nanotechnology research, innovation, and fabrication, provides a fertile ground for Micromize’s relocation. The Institute’s commitment to advancing semiconductor technology aligns with the national push at the federal level (via the CHIPS and Science Act) to bring more semiconductor production to the U.S., making it more competitive in research, development, and manufacturing.

“As the state’s technology startup incubator, we’re excited to welcome Micromize into our portfolio and to support them into the next phase of growth and expansion,” said ATDC Director John Avery.

“Microchips, semiconductor packaging and microelectronics are critical to our national economy and national security. Micromize’s choosing Georgia as its home to grow reflects what is proving to be a successful model when business, government, and research institutions such as Georgia Tech collaborate.”

About Micromize
Micromize is a leading provider of energy-efficient electronics for wearables and mobile devices. With a foundation rooted in MIT research in semiconductor packaging, Micromize is at the forefront of technological innovation, creating solutions that empower the future of electronics.

About CHIPS4CHIPS
CHIPS4CHIPS (Chattahoochee Hub for Innovation and Production of Semiconductors) is a dynamic bi-state, multi-county coalition in the Chattahoochee Valley, uniting hundreds of individuals, organizations, and businesses, as well as the public and private sector.  C4C’s vision positions our region as the southeast leader in U.S. semiconductor manufacturing. C4C’s efforts will bolster the domestic semiconductor industry, contribute to regional economic growth, support national security, and reduce poverty through the creation of well-paying jobs. With the industry’s significant U.S. expansion, C4C strategically aligns with the public, business, and educational sectors to foster a skilled semiconductor value chain.

About Georgia Tech
The Georgia Institute of Technology, or Georgia Tech, is one of the top public research universities in the U.S., developing leaders who advance technology and improve the human condition.

The Institute offers business, computing, design, engineering, liberal arts, and sciences degrees. Its more than 46,000 students, representing 50 states and more than 150 countries, study at the main campus in Atlanta, at campuses in France and China, and through distance and online learning.

As a leading technological university, Georgia Tech is an engine of economic development for Georgia, the Southeast, and the nation, conducting more than $1 billion in research annually for government, industry, and society.

About ATDC
The Advanced Technology Development Center (ATDC), a program of the Georgia Institute of Technology’s Enterprise Innovation Institute, is the state’s technology startup incubator. Founded in 1980 by the Georgia General Assembly which funds it each year, ATDC’s mission is to work with entrepreneurs in Georgia to help them learn, launch, scale, and succeed in the creation of viable, disruptive technology companies. Since its founding, ATDC has grown to become the longest running and one of the most successful university-affiliated incubators in the United States, with its graduate startup companies raising $3 billion in investment financing and generating more than $12 billion in revenue in the state of Georgia. To learn more, visit atdc.org.

ManTech Partners With Georgia Institute of Technology’s ATDC to Drive Innovative Cyber Security and Emerging Technologies for Government

ManTech to support development of cyber technology entrepreneurs and startups

Joe Cubba is ManTech’s executive vice president and chief growth officer.

HERNDON, VA and ATLANTA (Sept. 28, 2023) — ManTech today announced a partnership with the Georgia Institute of Technology’s Advanced Technology Development Center to support the growth and acceleration of startups built on cybersecurity-related technologies and emerging innovations.

The announcement marks ATDC’s first such agreement with a federal systems integrator. Leveraging ManTech’s deep government experience, the partnership will help entrepreneurs in ATDC’s Cyber and Emerging Technologies Program develop innovative, disruptive solutions that target and resolve federal agencies’ most pressing and difficult challenges.

ManTech provides advanced, mission-focused technology solutions and services for every branch of the federal government including the Department of Defense, intelligence community, and federal civilian agencies.

“ManTech is proud to work with ATDC in an industry-leading initiative that will accelerate government access to highly differentiated cyber and emerging tech solutions with the potential to stop even the most insidious cyberattacks on contact,” said Joe Cubba, ManTech executive vice president and chief growth officer. “Together, we are turning today’s next-gen innovators into the technology thought leaders and giants of the future.”

ATDC, the state of Georgia’s technology incubator, works with entrepreneurs to build, scale, and launch successful technology companies. Since its founding in 1980, ATDC has provided coaching, curriculum, community, connections, and access to capital and customers. Among the many benefits for young technology ventures, this partnership builds on ATDC’s platform with training and mentoring on how startups can grow their business with funding by the government’s Small Business Innovation Research program.

“Small companies need a proven systems integrator like ManTech to drive government introductions, integrate and deploy their technology, and show how it can make a real difference in supporting the mission,” said Corbett Gilliam, ATDC’s manager of corporate development. “ManTech and ATDC are bringing today and tomorrow’s Edisons and Teslas deep inside the very operations that keep this nation safe.”

As part of the partnership, ATDC has hired Blair Tighe to lead the vertical. In that role, Tighe, a U.S. Army veteran with a combined background of private sector cyber strategy and emerging technologies, will manage the pipeline, evaluate technologies, and coach companies.

He will leverage ATDC’s Connect program and expertise to secure opportunities for pilot projects, investments, and customers. He also will work with ManTech to mentor companies and host classes and educational programming built around the specific needs of the cyber and emerging tech sector.

The cyber focus comes as ATDC is seeing increased startup activity from entrepreneurs and founders in the cybersecurity space. The portfolio already has 12 companies in its incubator program.

About ManTech
ManTech provides mission-focused technology solutions and services for U.S. defense, intelligence, and federal civilian agencies. In business more than 54 years, we excel in full-spectrum cyber operations, data collection and analytics, enterprise IT, agile DevOps systems engineering, and software application development solutions that support national and homeland security. Additional information about ManTech can be found at mantech.com.

About Georgia Tech
The Georgia Institute of Technology, or Georgia Tech, is one of the top public research universities in the U.S., developing leaders who advance technology and improve the human condition. The Institute offers business, computing, design, engineering, liberal arts, and sciences degrees. Its more than 45,000 undergraduate and graduate students, representing 50 states and more than 148 countries, study at the main campus in Atlanta, at campuses in France and China, and through distance and online learning. As a leading technological university, Georgia Tech is an engine of economic development for Georgia, the Southeast, and the nation, conducting more than $1.0 billion in research annually for government, industry, and society.

About the Advanced Technology Development Center (ATDC)
The Advanced Technology Development Center (ATDC), a program of the Georgia Institute of Technology, is the state of Georgia’s technology startup incubator. Founded in 1980 by the Georgia General Assembly, which funds it each year, ATDC’s mission is to work with entrepreneurs in Georgia to help them learn, launch, scale, and succeed in the creation of viable, disruptive technology companies. Since its founding, ATDC, a program of Georgia Tech’s Enterprise Innovation Institute, has grown to become the longest running and one of the most successful university-affiliated incubators in the United States, with its graduate startup companies raising $3 billion in investment financing and generating more than $12 billion in revenue in the state of Georgia. To learn more, visit atdc.org.

Georgia Tech to Launch Sustainability-Focused Technology Initiative at the Advanced Technology Development Center

Norfolk Southern commits $750,000 to the Institute to support development
of sustainability technology entrepreneurs and startups in Georgia

ATLANTA — Norfolk Southern Corp., one of the nation’s leading transportation companies, is making a significant commitment to Georgia Tech’s Advanced Technology Development Center (ATDC) to create a new initiative for entrepreneurs in sustainability-focused technology.

Head shot of Josh Raglin
Josh Raglin, Norfolk Southern’s chief  sustainability officer.

The ATDC Sustainability Technology Program will formally launch in January 2023. Atlanta-based Norfolk Southern’s gift will provide the initial funding to support the current and future sustainability-related startups in ATDC’s portfolio.

The gift of $750,000 will support the initiative for three years. It is the eighth industry-focused vertical of its kind at ATDC, including two others announced earlier in 2022 — one in robotics and automation, the other in supply chain logistics.

“Norfolk Southern and Georgia Tech are teaming up to support forward-thinking innovation around sustainability. Together, some of the brightest minds in Georgia and the business community can continue to make sustainable progress for our nation’s supply chain and economy,” said Josh Raglin, chief sustainability officer for Norfolk Southern.

The sponsorship furthers the company’s strategic goal of integrating sustainability into daily operations while helping its customers achieve their sustainability goals. “Through our collaboration with ATDC and the incubator’s sustainability vertical, we will join with students and entrepreneurs in the business of a better planet as they transform their revolutionary ideas into actionable and successful business models,” Raglin said.

The gift will support one-on-one coaching via a dedicated ATDC startup catalyst who will manage the sustainability vertical and work to build the pipeline of innovators from across Georgia who are in this space and scaling disruptive technologies to bring to the marketplace.

The funds also will support a sustainability-focused curriculum and other resources specialized to those entrepreneurs’ needs as they go from ideation to commercialization.

“ATDC has a history of supporting startups with sustainable tech innovations including Suniva, Emergy, and Quest Renewables,” said John Avery, ATDC director.

ATDC’s startup portfolio already includes 12 companies in the sustainability space, but Avery said there is a wider opportunity for Georgia entrepreneurs.

With Norfolk Southern’s sustainability focus, Georgia Tech’s research innovations in that area through centers such as the Strategic Energy Institute, and ATDC’s ability to leverage those resources and its record in scaling successful technology companies, Avery said Georgia is primed to grow that sector.

The state is home to 34 companies on the Fortune 1000 list, many of which have set their own sustainability goals. Fifteen of those companies are headquartered in Atlanta, which ranks third in the country for the number of Fortune 500 companies headquartered in the city.

What’s more, sustainability innovations can have wider impact across a number of industries that are important to Georgia in addition to transportation and logistics, such as agriculture, and renewable energy, Avery said.

“With Norfolk Southern at the forefront of sustainability innovation and its support of our dedicated sustainability vertical at ATDC, we are doubling down on one of the biggest opportunities for startups and innovators today and pursuing a very important corporate and societal goal,” he said. “We can become a hub for all of these sustainability entrepreneurs and their innovations and grow this ecosystem in Georgia by helping to launch viable companies across the state.”

About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a customer-centric and operations-driven freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver more than 7 million carloads annually, from agriculture to consumer goods, and is the largest rail shipper of auto products and metals in North America. Norfolk Southern also has the most extensive intermodal network in the eastern U.S., serving a majority of the country’s population and manufacturing base, with connections to every major container port on the Atlantic coast as well as the Gulf of Mexico and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.

About Georgia Tech
The Georgia Institute of Technology, or Georgia Tech, is a public research university developing leaders who advance technology and improve the human condition. The Institute offers business, computing, design, engineering, liberal arts, and sciences degrees. Its nearly 44,000 students representing 50 states and 149 countries, study at the main campus in Atlanta, at campuses in France and China, and through distance and online learning. As a leading technological university, Georgia Tech is an engine of economic development for Georgia, the Southeast, and the nation, conducting more than $1 billion in research annually for government, industry, and society.

About the Advanced Technology Development Center (ATDC)
The Advanced Technology Development Center (ATDC), a program of the Georgia Institute of Technology’s Enterprise Innovation Institute, is the state’s technology startup incubator. Founded in 1980 by the Georgia General Assembly which funds it each year, ATDC’s mission is to work with entrepreneurs in Georgia to help them learn, launch, scale, and succeed in the creation of viable, disruptive technology companies. Since its founding, ATDC has grown to become the longest running and one of the most successful university-affiliated incubators in the United States, with its graduate startup companies raising $3 billion in investment financing and generating more than $12 billion in revenue in the state of Georgia. To learn more, visit atdc.org.

Georgia Tech Entrepreneur Pursuing Greener Energy

Sila Nanotechnologies receives $100 million in funding from the U.S. Department of Energy for battery technology

Entrepreneurs and those who support and nurture them must be tenacious visionaries, possessed with the ability to predict the future. Leaders at the Georgia Institute of Technology’s ATDC and VentureLab demonstrate these skills again and again as they select companies for their programs that hold the promise of changing the world.

Gleb Yushin, a professor in the School of Materials and Engineering and co-founder and chief technology officer of Sila

One such company, Sila Nanotechnologies, an engineered materials company focused on improving energy storage, went through the program a decade ago. Still, Gleb Yushin, a professor in the School of Materials and Engineering and co-founder and chief technology officer of Sila, remembers the impact the experience had on his company.

“I wanted to start a business focused on using materials science to make a global impact, but I had no business expertise,” Yushin said. “So, the support and guidance I received from ATDC and VentureLab were remarkably useful for me. They helped instill confidence in me and my vision of building a battery materials company that would dramatically increase Li-ion energy density with silicon anodes and other material technologies.”

The confidence they instilled, plus the mentors who worked with him on the business side – an area way outside his comfort zone at that time – were the most important parts of working with the entrepreneurship programs, he said.

A rendering of Sila’s new Moses Lake facility

Those early interactions – along with years of hard work and top-notch science – paid off in a huge way for Sila. Recently, the company was awarded $100 million in funding from the U.S. Department of Energy. The funds, plus private investments, will be used to build out Sila’s new 600,000-square-foot facility in Moses Lake, Washington, where the company will scale manufacturing of its silicon anode materials. Sila anticipates enough production to power 200,000 electric vehicles by 2026.

“It’s so exciting when one of the VentureLab companies makes good,” said Keith McGreggor, director of VentureLab. “It’s why we all do the work we do. Gleb and his partners are changing the world with their battery technology that’s cleaner, less expensive, and more efficient. It’s great to see that rewarded.”

The reward is a result of years of research and work into the science of battery manufacturing, Yushin said.

“We invented a new drop-in battery with replacement silicon-based composite materials that are not only remarkably robust and stable, but also didn’t need to change the way batteries are made. In other words, we made our materials compatible with all the battery manufacturing processes and steps that were used in the past and will likely be used in the future,” Yushin said.

The latest round of funding and the government grant will allow Sila to scale manufacturing and Mercedes-Benz is ready when Sila is. The automaker will use Sila’s anode materials to power its G-Class series electric vehicles, beginning in 2025. The new batteries will deliver a 20% to 40% increase in energy density in their electric vehicles (EVs), which will both increase range and enable faster charges at the same time.

Sila is also working with WHOOP, the health and fitness wearables company, whose devices contain Sila batteries, which deliver roughly a 20% increase in battery energy density with a 33% reduction in device size, he said.

“When working on our anodes, we built the best, most reliant performance solutions to be resilient against supply chain issues,” Yushin said. “The blueprints of Sila’s first auto-scale factory will be used for replicating other silicon-anode material factories in the U.S. and abroad, making the company a major global player in most-advanced green energy technologies. But anode materials are just the beginning. We have a pipeline of other drop-in replacement, supply-chain resilient technologies at different stages of their developments to push the battery performance to new heights.”

About Sila

Founded in 2011, Sila is a next-generation battery materials company with the mission to power the world’s transition to clean energy. Sila shipped the world’s first commercially available silicon anode for lithium-ion batteries in 2021. Sila’s materials drive battery performance enhancements in consumer electronics devices and will power electric vehicles starting with the Mercedes-Benz G-Class series. Committed to American leadership in clean energy production, Sila is scaling its technology at its manufacturing facility in Moses Lake, Washington. Major investors include 8VC, Bessemer Venture Partners, Canada Pension Plan Investment Board, Coatue, In-Q-Tel, Matrix Partners, Sutter Hill Ventures, and funds and accounts advised by T. Rowe Price Associates, Inc.

National Institutes of Health Awards MapHabit $2.9M SBIR Grant

ATLANTA — The National Institute on Aging, part of the National Institutes of Health, awarded a $2.9 million Small Business Innovation Research (SBIR) Fast Track Phase II Grant to MapHabit, a health technology company that helps memory-impaired individuals and caregivers improve independent function.

The three-year, non-dilutive grant will provide funds for the research and development of a Caregiving Training Program (CTP), which will foster personalized education to family caregivers for optimal person-centered care strategies and train them on equally important self-care techniques, MapHabit said.

Matt Golden, MapHabit CEO

Co-founded in 2018 by Matt Golden and Stuart Zola, MapHabit is a member company in the Advanced Technology Development Center’s (ATDC) Signature portfolio of startups. Its interactive, habit-building, education and cognitive engagement platform uses an integrated, visual mapping system to improve the quality of life for individuals who need additional cognitive support.

Including this award, MapHabit has received $6.5 million in non-dilutive grants and raised an additional $2 million in external investor capital since its founding. The company said this most recent award will extend its cash runway into 2025.

The MapHabit technology provides users critical tools to better accomplish their daily life activities, while simultaneously providing oversight and peace of mind to the entire support circle, including care managers and providers.

Caregiving is commonly acknowledged as one of the most stressful, under-recognized, under-paid, and under-supported jobs. The new CTP will offer key innovative features to enhance the caregivers’ own quality of life and directly support them in their role, which in turn will result in reduced cost burdens to them in all types of home and community-based care settings, the company said.

“There are 53 million caregivers in the United States and most of us have been thrown into this role without pay, without education, and without a coach to help guide them on what could be next,” Golden, the company’s CEO, said.  “Many of these are overextended sandwich caregivers, which are those who care for younger children and support their aging parents.”

While many resources exist for professional care staff, family caregivers have been left out of the discussion, Golden said. “This SBIR focuses on empowering those caregivers with tools to improve quality of life and independence for both the individual and the caregiver.  That is very important to us.”

Some of the features of the new CTP include self-paced learning that starts with understanding the caregiver’s knowledge and skill level; interactive live coaching sessions; easy to use caregiver-centric dashboards to share information, and social networking capabilities to promote social support and community building. The technology also uses a gamification approach to enhance training engagement and a social network system to help caregivers better manage their stress.

“Self-care is crucial for the person supporting someone with a neurocognitive disease. They often do not care for themselves and become sick themselves, putting both parties at risk,” Golden said. “Many non-spouse caregivers work jobs and they typically need to reduce hours or leave the workforce entirely. Moreover, family caregivers take the burden on themselves and don’t ask for help, and this leads to burnout.”

SBIR and a sister effort, Small Business Technology Transfer (STTR), are highly competitive programs that encourage U.S. small businesses to engage in federal research and research and development with the potential for commercialization.

As part of its curriculum, ATDC’s SBIR/STTR Catalyst Connie Casteel helps its portfolio companies understand and secure federal funding through those programs. In 2021, ATDC startups received $17.4 million in SBIR/STTR grants. Year-to-date in 2022, ATDC companies have recorded $14 million in awards.

“The ATDC SBIR/STTR program has been critical to help us identify funding opportunities and provide us much needed scientific reviews ahead of complicated government submissions,” Golden said. “The help of Connie Casteel and (ATDC Senior Startup and Deep Tech Catalyst) Nakia Melecio over the three-year period has helped us polish our submissions and ensure proper messaging to the target government organization.”

Meet Your New Colleagues

With remote work continuing, it’s often hard to get to know one another, especially for new employees. So, we’re looking for new ways to make connections. Meet this month’s two new employees, Ward Broom and Alberto Ponce. If you run into them or someone else you don’t know at a meeting or on Zoom or Teams, introduce yourself. Work relationships are important to well-being, and this is just one way to help cultivate those relationships.

Ward Broom, Automation & Robotics Catalyst, Advanced Technology Development Center (ATDC)

Ward Broom

Ward will oversee the ATDC Automation and Robotics Program — sponsored by Amazon Robotics. He will recruit startups, coach and mentor them, and market the program to those entrepreneurs looking to build and scale technology companies in the robotics or automation sectors.

A triple graduate of Georgia Tech, Ward earned his bachelor’s and master’s degrees in mechanical engineering and an Executive MBA. One of his sons is also a Tech grad with degrees in civil engineering and computer science.

He loves golf and travel – especially trips to the North Carolina mountains, where he can indulge both passions. His wife is a writer and his older son graduated from the Citadel and serves in the Army.

Alberto Ponce, Associate Project Manager, Economic Development Lab (EDL)

Alberto Ponce

Alberto will work in the Innovation Ecosystems group to support projects that develop entrepreneurship ecosystems in Latin America and assist with the Soft Landings program that helps foreign companies navigate their way into the U.S. market.

Alberto has experience running entrepreneurship programs and as an entrepreneur himself. Most recently, he served as the innovation center coordinator at the Medical Center of the Americas in El Paso, Texas.

A native of Mexico, Alberto exercises his creativity in his off time. He enjoys reading, watching classic and contemporary films, listening to music, and playing chess.

With a bachelor’s degree in biomedical engineering from the Universidad Autonoma de Ciudad Juarez, in Mexico, Alberto looks forward to working on projects that help enrich communities around the world.

The Advanced Technology Development Center Announces its Startup Graduating Class of 2022

Thirteen graduating companies comprise one of the incubator’s largest and most diverse graduating class of founders

ATLANTA — The Advanced Technology Development Center (ATDC), Georgia’s technology incubator, announced today 13 startups will graduate from the program’s top-tier Signature portfolio.

The 2022 class marks some significant milestones for ATDC, a program of the Georgia Institute of Technology’s Enterprise Innovation Institute. The 13 startups constitute one of the most diverse and largest graduating class in ATDC’s 42-year history.

Eight of the companies have diverse founders or co-founders, including four women.

The ATDC Class of 2022 also brings the total number of graduating startups to more than 210 companies. Collectively, the ATDC Class of 2022 has raised more than $216.7 million in capital from investors since January 2021.

“This is an outstanding and spectacular class of graduates,” said Chris Nedza, ATDC’s lead entrepreneur in residence. “This group of founders are gamechangers and disruptors in cybersecurity, artificial intelligence, insurance, energy, ecommerce, artificial intelligence, and information security. We are extremely proud of the ATDC Class of 2022 and all their achievements.”

One of the graduating companies, Apptega, founded by Armistead Whitney, works to address challenges that companies of all sizes face in implementing effective cybersecurity.

Being part of the ATDC experience helped the company navigate the challenges all startups face as well as scale successfully, he said.

“Starting a company from scratch is long, exciting, painful, and rewarding all at once. ATDC delivers the support, infrastructure, and guidance critical to our success,” Whitney said. “Sharing issues with other CEOs, receiving advice from the entrepreneurs in residence, getting connected to capital, and participating in programs at Georgia Tech gave us a huge competitive advantage not only to survive, but to thrive.”

Similarly, OncoLens, a leading data and clinical decision support hub that supports the multi-disciplinary discussion of cancer cases by experts and care teams, credits ATDC with its growth trajectory.

In the past four years, the company, co-founded by Anju Mathew and Dr. Lijo Simpson, has expanded to serve nearly 200 clients, including international customers.

“The favorite part of our ATDC experience has been the guidance received from ATDC catalysts and mentors,” Mathew, the company’s CEO, said. “The ability to engage with other startups and learn from each other is so key for early founders. And Aubrey Lenyard (ATDC Community Engagement Manager), is of course, just the best.”

The ATDC Class of 2021 will be honored October 27 in a special ceremony being held on the Georgia Tech campus.

The class includes:

  • Apptega: Makes it easy for businesses to build, manage, and report their cybersecurity programs while meeting regulatory requirements.
  • Buckle: Provides insurance to ride share drivers using new data, technology, and analytics.
  • Carbice: Produces multifunctional material solutions from Carbice® Nanotube Technology that set the standard for performance, reliability, and low-cost assembly within the world’s most important electronic, energy, and industrial products.
  • cove.tool: A web-based software platform for analyzing, drawing, engineering, and connecting data for building design and construction.
  • DataSeers: A big data platform for reconciliation, compliance, fraud, and analytics in the financial services sector.
  • Field Pros Direct: The industry’s first on-demand adjusters’ network.
  • Layr: InsureTech business that builds software to automate and digitize insurance brokerages’ smallbusiness departments.
  • Momnt: Helps merchants and merchant networks master the art of lending.
  • OncoLens: A healthcare technology company that enables the development of the best treatment plan for each cancer case.
  • SmartCommerce: Its technology platform enables one-click conversion from any digital impulse point, into any retailer cart.
  • Tonic: Anonymizes production data.
  • Voxie: Technology platform to connect with customers via text message, build real relationships, and turn those relationships into action.
  • Worthix: Customer survey platform built with artificial intelligence to help marketers pinpoint the “why behind the buy.”

It was important to Marty Young, Buckle’s co-founder, to be part of an incubator equally dedicated to finding technology companies focused on substantive impact for the better along with ensuring their overall success.

“As Buckle has grown its efforts to transform financial services offerings for an underserved audience of gig drivers, it has been a privilege to be surrounded by ATDC companies that are similarly focused on making a difference for their core target groups,” Young said. “In addition, Atlanta has been a center of gravity for Buckle since the first days of our formation, and it remains important to us to be active and connected in the communities where we live and operate.”

Companies in the ATDC Signature portfolio are those deemed most ready for long-term growth and success. ATDC Signature is a rigorous, metrics-driven, and milestones-based program for companies with transformative products.

To graduate from ATDC Signature, startups must meet several milestones, including annualized recurring revenue of at least $1 million, an identified scalable business model, and the ability to finance growth.

“ATDC has allowed Carbice to grow from an idea to a thriving leader in the thermal solutions market,” said Baratunde Cola, the company’s founder and professor in Georgia Tech’s George W. Woodruff’s School of Mechanical Engineering. “The best part of the company’s time at ATDCwas the ability to learn how to build and scale a manufacturing operation with the support of Georgia Tech and ATDC every step of the way.”

About the Advanced Technology Development Center (ATDC)
The Advanced Technology Development Center (ATDC), a program of the Georgia Institute of Technology, is the state of Georgia’s technology startup incubator. Founded in 1980 by the Georgia General Assembly, which funds it each year, ATDC’s mission is to work with entrepreneurs in Georgia to help them learn, launch, scale, and succeed in the creation of viable, disruptive technology companies. Since its founding, ATDC has grown to become one of the longest running and most successful university-affiliated incubators in the United States, with its graduate startup companies raising $3 billion in investment financing and generating more than $12 billion in revenue in the state of Georgia. To learn more, visit atdc.org.