gener8tor, the nationally-ranked Madison/Milwaukee accelerator, proudly showed off its most recent crop of graduates at its May 11th Madison Premiere Night at the Edgewater Hotel. The four graduating companies — Allergy Amulet, Behold.ai, DATTUS, and Curate — exemplified the movement toward and interest in the Internet of Things (IoT), which combines technology with sensors, and artificial intelligence solutions.
For example, the Indianapolis-based DATTUS helps industrial manufacturers save time and money by using DATTUS sensors and software to monitor equipment operation and efficiency. Although industrial monitors may not sound sexy, DATTUS is turning heads and gaining traction with industrial manufacturers. Winner of the 2016 Best New Tech Product, DATTUS’ customers already include heavyweights such as Harley-Davidson, Faurecia, and Wabash International.
Another graduate in the IoT space was the Madison/Boston-based company, Allergy Amulet, founded by Abigail Barnes. Allergy Amulet is developing a portable food allergen detector that combines a wearable electronic reader with disposable test strips. During the program, Halley Gilbert, Chief Legal Counsel of Ironwood Pharmaceuticals and one of Allergy Amulet’s mentors, explained the dangers of food allergies and how the Allergy Amulet will help people with food allergies, including her own children, determine if food is safe to eat.
Another company striving to improve our health was Behold.ai. Based in New York City, Behold.ai is developing artificial intelligence software to help radiologists identify abnormalities in medical images.
Premiere Night exemplified how gener8tor not only helps entrepreneurs propel great ideas into great startups, but also helps them have the guts to pivot. Taralinda Willis, demonstrated such guts when she premiered Curate. After their initial company idea failed to gain traction with customers and investors, Willis explained how they decided to scrape the company and launch something new, a web-scraping service that combines artificial intelligence and automation technologies to provide answers to pressing business questions. Despite being in existence for only one week, Curate is getting the customer traction that their original idea never got.
Although Premiere Night focused on the current group of graduating companies, gener8tor provided the over 600+ people in attendance with some impressive numbers of its own. The 42 gener8tor graduate companies have raised more than $75M in follow-on financing, with 45% raising more than $1M or acquired and almost 80% raising more than $250K or acquired. The success of gener8tor graduates explains the increasing competition for the program. The four graduating companies were chosen from 544 applicants. gener8tor founders, Troy Vosseller and Joe Kirgues, also stressed their commitment to supporting a diverse group of entrepreneurs with 21% of gener8tor companies having at least one female founder and 29% of gener8tor companies having at least one founder of color.
Another winner at Premiere Night was Big Brothers and Big Sisters of Dane County, which received a $4,000 check from gener8tor and American Family Insurance.
For more news about gener8tor’s Premiere Night, check out Judy Newman’s May 13, 2016 article, Glitzy gener8tor gathering graduates four startups, in the Wisconsin State Journal.