Innovation Crossroads applications for Cohort Four are due on Halloween!

Interested in applying for the Innovation Crossroads program or know an aspiring energy entrepreneur who should? The application deadline for Cohort Four is tomorrow, October 31 at 5:00 p.m. EDT. 

Innovation Crossroads is an Oak Ridge National Laboratory (ORNL) program that matches aspiring energy entrepreneurs with experts and mentors in technology-related fields to take their world-changing ideas from R&D to the marketplace. Participants receive a two-year fellowship and lab access and funding to support their innovations. They also have access to entrepreneurial training and exclusive networking opportunities. 

To be eligible to apply, applicants must have a PhD or equivalent experience; be focused on energy or manufacturing innovation; leverage ORNL R&D capabilities and have an impact on the Department of Energy or TVA mission; be willing to relocate to the Knoxville-Oak Ridge area; and be a lawful U.S. citizen or permanent resident. 

Here are some key dates and information to keep in mind about the application timeline:

  • Applications close: October 31, 2019 at 5:00 p.m. EDT
  • Initial application review: November 2019 – Applications are reviewed by the Innovation Crossroads team, as well as scientific and industry subject matter experts
  • Phone interviews: December 2019 – Based on initial review, selected applicants will be invited to conduct a brief phone screen with the Innovation Crossroads team.
  • In-person interviews: January/February 2020 – Interviewees will be invited to visit ORNL to tour facilities, connect with potential collaborators, principal investigators and mentors, and present for our team of reviewers.
  • Cohort Four selected: March 2020
  • Cohort Four starts at Innovation Crossroads: May 2020

Ready to apply? Click here for the application. Contact innvcrossrds@ornl.gov if you have any questions.

Innovation Crossroads Cohort Four Informational Webinar

Innovation Crossroads is an Oak Ridge National Laboratory program that matches aspiring energy entrepreneurs with experts and mentors in technology-related fields to take their world-changing ideas from R&D to the marketplace. The program is now welcoming applications for Cohort Four and encouraging interested individuals to sign up for informational webinars.

Seven entrepreneurs will be chosen for this cohort, where sponsors include DOE’s Advanced Manufacturing Office (AMO) and the Tennessee Valley Authority (TVA). Specific topics of interest identified by DOE’s AMO and TVA include technologies in Energy and Advanced Manufacturing and Shared Integrated Grid, respectively.

Applicants whose technology doesn’t fall under the aforementioned categories are still encouraged to apply. To learn more about the program’s benefits, application process and more, sign up for an informational webinar at one of the following times:

  • Thursday, October 24th at 2:30 p.m. ET

Selected participants will receive a two-year fellowship, lab access and research funding, and business mentors, entrepreneurial training, and networking opportunities.

Ready to apply? Here is the application. Contact innvcrossrds@ornl.gov if you have any questions.

Active Energy Systems Secures Funding as One of Three Initial Investments from New, Local Venture Capital Fund

Energy Mentor Network graduate, Active Energy Systems, was selected as one of three initial investments made by the TennesSeed Fund, a new, evergreen, seed-stage, proof of concept venture capital fund that seeks regional investments in Tennessee companies. 

The Fund is managed by a collaboration of Three Roots Capital, Meritus Capital, and Innova Memphis, Inc. Grady Vanderhoofven, the founder, president and chief executive officer of Three Roots Capital, and Ken Woody, the president, partner and founder of Innova Memphis, serve as the Fund’s co-managers, directors, and investment team members.

The Fund does not have a specific industry or technology focus, allowing it to help companies, like Active Energy, achieve specific, well-defined milestones. Woody said the evergreen structure “allows for the permanent, ongoing cycle of fundraising, investments, and successful investment outcomes, which hopefully will have direct and lasting economic benefits throughout the state.”

“Our relationship with the TennesSeed Fund has been great timing for us,” said Active Energy Co-Founder Mitchell Ishmael. “They provided the right advice at the right time and funds just when we needed them to secure our intellectual property claims. This investment and relationship has been immensely valuable for us.”

In addition to the Fund’s investment, Active Energy has received funding from the Department of Energy and National Science Foundation SBIR program matched by LaunchTN. Combined, these investments amount to over $500,000.

In addition to funding momentum, Active Energy recently graduated the Energy Mentor Network, run by TAEBC in partnership with Launch Tennessee. To graduate, participating startups must build investable pitch decks, finance models, and structured business plans and defend those plans before panels of established entrepreneurs and venture capitalists.

Active Energy also completed its two-year fellowship with Oak Ridge National Laboratory’s Innovation Crossroads program in May. Speaking with Teknovation.biz earlier this year, Ishmael said “the Innovation Crossroads team helped us make the necessary industry and investor connections to complete our pivot.”

Currently, the company is building a larger cooling system for a 6,000 square foot facility and constructing a “show and tell” system for onsite demonstrations. 

Visit Active Energy Systems’ website to learn more about this innovative startup. If you are interested in becoming a mentor for startups like Active Energy Systems in the Energy Mentor Network, follow this link.