After being in operation since 2013, the PowerBridgeNY program will come to an end in September 2020 with its final cohort of Cycle 6 awardees issued in May 2019.
PowerBridgeNY was designed for scientists and entrepreneurs seeking to accelerate the commercialization of their cleantech. The accelerator helped technologists to determine product-market fit, de-risk their technologies by building early prototypes, and to validate their technology through customer and industry interactions. Teams received up to $150K to conduct 100 Customer Discovery interviews and develop a prototype or conduct in-field testing to move the technology closer to commercialization via a startup (preferable) or license. During the accelerator, teams participated in a series of workshop events and monthly check-ins using the NSF I-Corps/Lean LaunchPad Methodology to identify their initial business model and technical requirements for their minimum viable product. PowerBridgeNY also subsidized the cost of necessary services, provided industry Mentors, and arranged pro bono office hours with experts in law, finance, grant writing, and more. Learn more about the benefit the program has had for awardees below and through the PowerBridgeNY 5 Year Impact Report originally published in 2018 after the awarding of the Cycle 5 teams.
Cumulative Success Metrics
- 6 cycles administered
- 165 applications received
- 81 teams admitted to/went through accelerator
- 51 awards given
- Over $6.2M in funding awarded by PowerBridgeNY to teams
- Over $40.4M awarded to teams in grants and investments from other sources after participating in PBNY
- Roughly 1/2 of the teams are still actively pursuing commercialization