University of Missouri System is part of a public-private partnership, led by Ameren, that has created an accelerator aimed at energy technology startups.
Utility company Ameren selected the first cohort for its energy sector-focused accelerator, supported by University of Missouri System, on Friday.
The program is a public-private partnership that also includes UMSL Accelerate, the entrepreneurial hub of University of Missouri – St Louis, as well as consultancy Capital Innovators.
The selected companies include several US-based companies, such as Blossom, a developer of a tool for businesses to control resources remotely, Omega Grid, a producer of software to make distributed grids financially viable, and Rebate Bus, a platform offering incentives.
Other US-based businesses include SensrTrx, an industrial analytics application provider, and Switched Source, which has created technology to make the grid more resilient and efficient.
Canada-based Hyperion Sensors has developed technology to bring the internet of things to the grid, while UK-based WifiPlug has created a smart plug that learns about a user’s habits and helps reduce energy bills.
The 12-week program will award up to $100,000 in seed capital to the startups as well as offer mentoring, technical assistance, access to facilities and networking opportunities. The program will take place at UMSL Accelerate and Capital Innovators’ co-working space.
Ameren may choose to provide additional mentoring and support to the most promising companies beyond the program.
The seven participants were selected from a pool of more than 200 applications.
Dan Lauer, director of UMSL Accelerate, said: “The companies selected to participate in the Ameren Accelerator have tremendous potential to positively affect the energy industry.
“We are delighted that students and faculty from the four campuses of University of Missouri System are involved at various stages of this unique partnership – contributing to its success and learning lessons in entrepreneurism and innovation.”
