Exciting Developments in Chattanooga as Five Startups Join Sustainable Mobility Accelerator

Exciting Developments in Chattanooga as Five Startups Join Sustainable Mobility Accelerator

This week, the vibrant city of Chattanooga welcomed five innovative startups from outside Tennessee into the second cohort of the Sustainable Mobility Accelerator (SMA). The program is a collaborative effort between The Company Lab (CO.LAB) and gener8tor, aimed at fostering cutting-edge ideas in sustainable transportation and technology.

A Competitive Selection Process

With an impressive pool of 132 applicants from 19 different nations, the selection of these five startups speaks volumes about the caliber of talent being drawn to Chattanooga. Under the program’s requirements, each startup must have team members stationed in the city during the 12-week accelerator, providing a unique opportunity to immerse in the local ecosystem and make connections.

The Sales Pitch

The enticing pitch from CO.LAB invites ambitious founders to “Test and scale your minimum viable product through access to the world’s only urban testbed for connected autonomous vehicles.” This represents a critical advantage, as startups can validate their products in real-world settings and connect with industry-specific corporate partners.

What’s at Stake

Each startup joining the cohort will receive an initial investment of $20,000, with the potential to secure an additional $100,000 in funding. Plus, they could gain access to local startup pilot programs designed to help them test their solutions effectively. CO.LAB CEO Tasia Malakasis expressed her enthusiasm about the program, noting that their goal is to provide founders with unique experiences that could integrate them into the growing tech landscape of the Southeast.

Meet the Startups

The startups selected for this cohort represent a diverse range of solutions in the mobility sector:

• SensFlo from La Jolla, California, is shaking up the manufacturing sector with a software-as-a-service production optimization platform designed to improve efficiency in metal and plastic manufacturing.
• WEAV3D based in Norcross, Georgia, is addressing global carbon emissions through the creation of affordable, high-performance, lightweight materials.
• RueData from Mexico City provides a software solution for tire management in transport fleets, achieving significant cost reductions for clients such as Heineken.
• Moduly from Montreal is focused on reducing energy consumption and carbon emissions with a plug-and-play home battery storage solution.
• Motoring Labs from Indianapolis uses advanced computer vision technology to offer insights from commercial fleets and warehouse traffic.

Showcasing Innovation

These five dynamic startups are set to showcase their innovations during CO.LAB’s upcoming Sustainable Mobility Summit, scheduled for May 20-22. This event will not only present their work but also allow them to network with industry leaders and potential partners.

A Bright Future Ahead

As CO.LAB looks to the future, there is excitement about the potential long-term impact these startups could have in Chattanooga. David Wade, CEO of EPB (Electric Power Board of Chattanooga), highlighted that each of these companies shows significant promise in developing products and services beneficial to the region’s existing industries.

Growing the Ecosystem

While Chattanooga continues to attract innovators, it’s interesting to note that no permanent presence has yet been established by any of the companies from the inaugural SMA cohort this past spring. However, hope remains strong, as various local initiatives encourage the growth of sustainable technology ventures.

Upcoming Opportunities

If you’re interested in exploring similar accelerator programs, gener8tor is planning another program in Appleton, Wisconsin, in early 2025. The call for applications emphasizes the potential for cross-accelerator engagement, making it clear that there are plenty of opportunities on the horizon.

Chattanooga is on the map as an emerging hub for sustainable mobility, with promising events lined up, including the Future of Freight Festival in November. As Chattanooga continues to build momentum, it welcomes collaborations and innovation from all corners of the globe, establishing itself as a significant player in the tech ecosystem.