BIRMINGHAM, Alabama — Nine entrepreneurs participating in a specialized energy-focused accelerator in Birmingham will outline the vision behind their business plans at a live Demo Day event on Tuesday.
The founders of these promising startups traveled from seven states and Canada to participate in the Techstars Alabama EnergyTech Accelerator. The companies specialize in technologies and business models to enhance the future of energy, including artificial intelligence (AI) for the power grid, renewable energy, consumer sustainability and weather prediction.
“The second class of the Techstars Alabama EnergyTech Accelerator has brought some of the brightest minds and entrepreneurs to the state of Alabama this fall,” said Tony Smoke, Alabama Power’s senior vice president of Marketing and Economic Development.
“We can already see the success of this year’s class and the investment they are making in the energy industry.”
See the list of startups participating in the accelerator. Tuesday’s Demo Day event is open to the public, though registration is required.
NURTURING STARTUPS
The accelerator is supported by Alabama Power, the Alabama Department of Commerce, the Economic Development Partnership of Alabama, Altec, PowerSouth, the University of Alabama and Southern Research.
The supporters play a key role in the accelerator process, with the common goal of expanding the Alabama startup ecosystem.
“At its core, the Techstars Alabama EnergyTech Accelerator is an economic development initiative that will help solidify our state’s future in the 21st century economy,” said Greg Canfield, Secretary of the Alabama Department of Commerce.
“This accelerator gives these promising startups an introduction to our growing tech environment and shows them the benefits of doing business in Alabama,” he added.
In 2019, Techstars, the worldwide network that helps entrepreneurs succeed, teamed with Alabama Power to launch its only accelerator in the world to focus on energy.
The EnergyTech Accelerator has been one of the most successful in the history of Techstars, with the inaugural class having raised more than $30 million in capital. Four of the companies have committed to maintaining a presence in Alabama.
The Demo Day event begins at 4 p.m. with cocktails. Pitches begin at 5 p.m. and a reception with food and beverages immediately follows, with an opportunity to meet the entrepreneurs.
The event takes place at the Red Mountain Theatre Arts Campus, 1600 Third Ave. South, Birmingham, Alabama, 35233.
“I’m so proud of this year’s class,” said Nate Schmidt, managing director of Techstars Alabama EnergyTech Accelerator. “They joined us entirely from outside Alabama and have embraced our program, and city, in ways I would have never imagined.
“They spend long hours working, and then head out to experience all of Alabama’s wonders, from hiking and getting outdoors, to Saw’s BBQ, and everything in between. We’re lucky to have this class join us in Alabama, and I can’t wait to experience their success post-program.”
