Startup Companies Complete Center for Innovation and Entrepreneurship’s Incubator Program at Cal Poly
SAN LUIS OBISPO — Three startup companies with more than a dozen employees and nearly $1.7 million in venture capital funding have completed the Cal Poly Center for Innovation and Entrepreneurship’s (CIE) HotHouse Incubator Program. All three companies plan to continue to grow their ventures in San Luis Obispo County.
“CIE provides a structured, two-year program for early-stage startups that includes all the resources needed to facilitate smarter, faster growth,” CIE Economic Development Director Judy Mahan said of the Incubator. “After working closely with these companies over the course of their development, we are excited to see where the future takes them as they continue to expand and grow locally.”
The companies graduating from the CIE Incubator program include:
— NeoCharge is a sustainably driven company dedicated to enabling clean, easy and affordable home electrification. Their flagship product, The Smart Splitter, eliminates expensive electrical outlet installations for homeowners and renters when retrofitting homes with electric vehicle, or EV, charging and electric appliances that can cost several thousand dollars. The Smart Splitter includes an integrated software platform that synchronizes charging at times when energy is cleaner and less expensive. NeoCharge is currently working with EV charging companies, electric utilities and the automobile industry to reduce barriers to home electrification. (www.getneocharge.com)
— Roopairs’ easy-to-use software and cutting-edge technology streamlines communication and improves the relationship between small business owners and the service companies that repair and maintain their equipment and facilities. (www.roopairs.com)
— De Oro Devices’ innovative technology aims to improve the quality of life for people afflicted with Parkinson’s disease. Their NexStride device utilizes audio and visual cues that are clinically proven to help individuals overcome the freezing of gait, one of the most common and debilitating symptoms of the brain disorder that leads to shaking, stiffness and difficulty with walking, balance and coordination. (www.getnexstride.com)
“The resources, mentorship, and peer support provided by the Cal Poly CIE incubator has been incredible for us as we started up here in SLO,” said Sidney Collin, CEO and co-founder of De Oro Devices, who graduated with a bachelor’s in biomedical engineering from Cal Poly in March. “I feel so lucky to have learned from and worked with such an incredible group of people. The networking opportunities opened up many doors for us and the consultants and mentors helped us solve problems.”
Since its inception in 2010, the CIE has promoted regional economic development. To date, these three companies have created 13 jobs, benefitted from 880 hours of one-on-one consultations and raised $1,695,000 in venture capital.
The CIE recently added five new startups to its 24-month Incubator Program. They join four other ventures that are in their second year and two other first-year firms, making a total of 11 startups now in the incubator program.
CIE offers faculty, students and the business community the tools to transform their innovative ideas into viable businesses. By providing quality coaching, professional consulting and connections with industry professionals, the CIE creates an environment in which new businesses can develop and thrive.
“We are very proud of these three companies, graduating from our Incubator program this year. They are each solving real problems, and our world will be better for it,” said John Townsend, CIE executive director. “We have known these young entrepreneurs since their beginning. And have been working with them along each step of their journey from the first spark to their first dollar. It’s what we do, and we couldn’t be prouder of their accomplishments to date, and more importantly, their prospects for a bright future.”
The CIE Incubator Program is open to the business community. Startups interested in applying for it, should visit https://calpolycie.wpengine.com/launch/hothouse-incubator.
Contact: Candice Conti
October 15, 2020
# # #