Ithaca, NY (February 16, 2024) – Bolstered by a new MedTech track and increased capacity to support entrepreneurs, Rev: Ithaca Startup Works is now accepting applications for its free Prototyping Hardware Accelerator. The program is open to anyone with a physical product idea and guides participants through prototype development, business model design, and pitch creation.
Administered by the Center for Regional Economic Advancement at Cornell University, Rev has been a leading resource for hardware startups since 2014.
This year’s upgrades to the accelerator follow an influx of funding. The program was recently awarded a $2 million “Build to Scale” grant from the U.S. Economic Development Administration and a local matching fund of $2 million, including $1 million from Empire State Development’s Division of Science, Technology and Innovation (NYSTAR).
The MedTech track will leverage the new funding and partnerships across Cornell to provide tailored support to innovators developing medical devices. Program participants will have access to design resources, equipment, and faculty in the university’s Meinig School of Biomedical Engineering and College of Human Ecology; Weill Cornell Medicine will serve as a source of applicants and industry expertise for the track.
Key benefits of the MedTech track include specialized mentorship from professionals with insight into the intricacies of medical device development, and targeted training on regulations and legislation pertinent to the medical sector. Participants will finish the program equipped with the entrepreneurial knowledge and compliance strategies necessary for success, preparing them to navigate the complex regulatory landscape and bring groundbreaking medical technologies to market.
The program also offers two other industry-specific tracks, ClimateTech and AgTech, along with an Open track for entrepreneurs in any field. Participants have access to a purpose-built prototyping shop—also set to expand this year — featuring state-of-the-art equipment including printers, laser cutters, and more.
The Prototyping accelerator feeds into Rev’s Manufacturing Hardware Accelerator, which helps participants advance from the prototyping stage into production. Also new this year, a “Protofacturing” accelerator will bridge the gap between the two current programs.
The hardware accelerators stimulate the local entrepreneurship ecosystem and economy, and they have spawned a vast alumni network. Program alumni have raised more than $26 million in venture capital to date, and 40% of participants have gone on to participate in other entrepreneurship programs across upstate New York.
“The hardware accelerators support anyone with a product idea, from lab researchers to workers in the field to everyday consumers who notice opportunities in the market,” said Ken Rother, director of Rev and the Hardware Accelerators. “Expanding our offerings will help even more entrepreneurs start successful companies.”
Recommended for teams from outside of Ithaca, the early admission deadline to apply for Rev’s Prototyping Hardware Accelerator is February 16, 2024. Applications close March 25, 2024. To learn more about the program and apply, visit https://www.revithaca.com/prototyping-hardware-accelerator/.
Rev is hosting a virtual information session about the program March 20, 4:00 – 5:00 p.m. ET.
About Rev: Ithaca Startup Works
Rev: Ithaca Startup Works is a business incubator and startup workspace in Ithaca, NY. Rev offers business mentorship, training, and startup resources for any new or growing business that plans to scale and create jobs in the region. Rev also serves to connect the larger startup ecosystem in the area — connecting startups to potential partners, investors, and new hires and convening everyone for networking events and workshops.
Rev was created in 2014 by a partnership between Cornell University, Ithaca College, and Tompkins Cortland Community College as a resource for all new and growing businesses including student-founded startups.
About the Center for Regional Economic Advancement at Cornell University:
A division of Research & Innovation at Cornell, the Center for Regional Economic Advancement (CREA) fuels economic growth and diversity through entrepreneurship and innovation. CREA supports and empowers people to start and grow new ventures by leveraging the university’s robust educational and industrial assets.
