Statewide Arizona-based accelerator AZ Furnace announces its first 10 startups.

US-based technology transfer startup programme AZ Furnace Accelerator (AZ) has announced its first 10 startups, which utilise technologies from three universities in Arizona, that will participate in its business accelerator programme.

University of Arizona, Arizona State University, and Northern Arizona University, as well as healthcare provider Dignity Health Arizona, have supplied innovations to the ten chosen companies which Arizona-based AZ Furnace plans to develop into new ventures.

The startups, which will all receive $25k in seed funding from the Arizona Commerce Authority and life science accelerator BioAccel as well as incubation space throughout the state of Arizona, vary from database management to healthcare firms, and are as follows:

  • Attrometrics – supplier of cancer and disease detection systems.
  • CYMEDX – develops early detection of mitochondrial disease systems.
  • DataWare Ventures – Database management.
  • Fast PCR Diagnostics – Blood infection diagnostics.
  • IMANIN – ultrasound diagnostic tools.
  • PiVoT – Concrete manufacturer.
  • Rarus Innovations – e-learning app developer.
  • RehabDev – stroke rehabilitation products.
  • SiO2 Nanotech – vitro-retinal surgery applications developer.
  • Traken Technologies – secure mobile-cloud data systems.

The ten startups were chosen from an initial pool of 22. Currently, the universities each spinout around 20 companies a year. AZ Furnace will allow an additional 10 to be set up.

“AZ Furnace encourages entrepreneurs from around the world to look at Arizona technologies in new ways, bringing to life some of the amazing intellectual property held within our university system and research institutions,” said Sandra Watson, president and chief executive officer of the Arizona Commerce Authority. “This program fosters innovative business creation, a key initiative of the ACA, ultimately growing and strengthening our overall economy.”    

Mary Ann Guerra, CEO of BioAccel, added: “The ability for the Furnace initiative to provide a pipeline of new companies in support of our partnership with the City of Peoria and BioInspire clearly reflects how important the integration of all of these programs are to the companies and also to Arizona’s overall economic development.”