HUNTSVILLE – Labeled as an accelerator that is “more than mentorship; it’s about momentum,” applications have opened for the second cohort of the Cummings Research Park DefenseTech Accelerator.
An effort between the Huntsville/Madison County Chamber, Cummings Research Park, and Treble One, the CRP DefenseTech Accelerator is a 12-week accelerator program for early-stage technology companies with innovative products that can be grown and scaled in the defense and commercial markets.
Each program cycle consists of five companies that participate without paying any fees or relinquishing equity, a news release said.
The CRP DefenseTech Accelerator matches companies with defense tech advisors to assess the viability of scaling their products within the federal government, coaches to help build and refine a defense specific go-to-market strategy, business development experts and writing specialists to support proposals, and access to an expansive network of product users, customers, and investors.
Applications are open through Aug. 29 on cummingsresearchpark.com. Five companies will be selected and Cohort 2 will begin Sept. 23.
The program will include one-on-one mentor sessions, weekly meetings, marketing support, customer and investor intros, lunch & learns, and a demonstration finale Dec. 9, the release said.
“This accelerator is about growing our defense industrial base with the next generation of small businesses focused on scalable technology products,” said Erin Koshut, executive director of Cummings Research Park. “Our goal is for 75% of graduates to secure at least one prime contract with the U.S. federal government, secure at least one subcontract with a U.S. federal government prime contractor, partner with at least one prime contractor or OEM, or raise at least $100,000 in private capital funding within 12 months of their participation.”
The accelerator utilizes the Innovate Alabama Tax Credit program, a statewide initiative where local companies and individuals with significant tax liability can allocate 50% of their taxes to stay local. State tax liabilities that can be used for this program are the Alabama income tax, state insurance premium tax, state public utility license tax and state portion of the financial institution excise tax.
“At Innovate Alabama, we know that tech accelerators like the CRP DefenseTech Accelerator are essential to helping early-stage companies grow and scale,” said Kelly McNair, director of Innovate Alabama’s Tax Credit Program. “By supporting economic development organizations through our tax credit program, we are proud to help fuel efforts like this one in Huntsville.
“The city’s deep defense industry expertise makes it an ideal place to grow dual-use technologies that serve both national security and commercial markets.”
Along with Innovate Alabama, other sponsors are Blue Cross and Blue Shield of Alabama, Regions, and Synovus. The CRP DefenseTech Accelerator will be in the University of Alabama in Huntsville’s Invention to Innovation Center (I2C).
Among several benefits, each company in the accelerator will also receive a one-year membership to the Huntsville/Madison County Chamber, giving them awareness and access to the many strong small business programs it offers throughout the year.
Treble One is the execution partner and bring more than 20 years of experience in supporting and growing small businesses in the defense market. Its mission is to help companies grow their business by applying technology to solve meaningful national security problems and help both the government and taxpayer maximize the investment of federal research dollars. Their experience and relationships will help translate to success in this program.
“This accelerator is about more than mentorship; it’s about momentum,” said Brien House, executive director of Treble One’s Alabama Accelerators. “We help founders turn technical vision into mission ready capability by connecting them with the right people, programs, and pathways to bring it to life.”
The first cohort of the DefenseTech Accelerator concluded in early March. Companies that participated were 6th Dimension, BrakeSens, Ethar, and SpaceFactory.
The Chamber, CRP and the accelerator program continue to partner with these companies to support their products and success.
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