Three startups in connection with Cornell University earned tens of thousands of dollars in company funding thanks to the 2018 Commercialization Competition in New York.
According to Cornell University, the winners tied to the Ivy League school in Ithaca were Capro-X, Íko Systems and VitaMe Technologies and they each won $50,000 in funding.
Though this is just the second year of the Commercialization Competition, it is helping startups in the nascent phase be able to attract investors and build a solid foundation for their business plans.
They were among seven total winners at the Nov. 8 competition chosen from a pool of 18 finalists. All of the chosen finalists gave pitches in front of a panel of judges and the companies were rewarded based on how much potential there was for commercialization of their product or startup.
The startup VitaMe Technologies provides mobile testing for those with nutrient deficiencies. The CEO is a 2014 graduate of Cornell and wanted to build an affordable model for identifying and providing services to those with malnutrition.
Capro-X seeks to make biofuels out of waste from the dairy industry. The decorated startup has been included into the National Science Foundation’s I-Corps, which is a two-month-long accelerator program. There it has earned hundreds of thousands of dollars more as industry peers and investors seem excited about its potential for making a lasting impact.
Finally, Íko Systems produces smart micro greenhouses so that people can cultivate their own food in a small space inside their homes. Six recent Cornell graduates have come together to design the product that has already won a Cornell Engineering Innovation Award for its innovation. It has been given additional funding from Cornell.