Engineering, funding, running, and succeeding as a deep tech company is challenging. Most inventors, founders, startups, and entrepreneurs lack the knowledge or ability to turn their innovative ideas into profitable ventures. FedTech is a company looking to change that.
At the crossroads of entrepreneurship, ground-breaking technology, and mission-driven organizations, FedTech is looking to power a vast ecosystem of founders, startups, mentors, and inventors through their novel approach to translating ground-breaking technology into real-world impact.
Conceived in 2015 after the founders identified an opportunity to commercialize the roughly $150 billion in annual federally sponsored R&D while attending the National Science Foundation's Innovation Corps (I-Corps) program, they are finding their stride in the deep tech space. They have grown to offer four unique programs to provide support and services related to technology entrepreneurship.
Startup Studios
Startup Studios: From tech-transfer to tech-transition.
Through this program, teams of highly talented entrepreneurs and aspiring entrepreneurs are paired with technologies at the forefront of innovation to turn out market-disrupting startups.
Every year, the government spends hundreds of millions of dollars on R&D. A large portion of the technology developed and labs built remains unharnessed. FedTech team members scour the portfolios of these labs to identify the innovations with the best commercialization potential. From there, a team is assembled, educated on the many aspects of how to run a startup, and provided with the opportunities, resources, and tools that enable the creation of a business that's ready to launch.
In general, FedTech Startup Studios are sponsored by entities with a vested interest in federal innovation, such as NSIN (National Security Innovation Network), NASA, and other extensive research and development organizations, which often support the administration of the program and the choice of entrepreneurs and technology.
In the years since FedTech was founded in 2015, many Startup Studios have run and created close to 200 teams. Many of these teams have incorporated and gone on to raise millions of dollars while introducing their products to the world.
Accelerators
Is there a playbook for entrepreneurial success in deep tech?
FedTech partners with organizations to build custom accelerators where startups come to deliver solutions aimed at solving the organization's most pressing needs. This is a cohort-based program in which startups are given the resources and education to help them succeed in their pitches. Participants are provided mentorship, educational programming, pitch days, venture-building activities, and strategic exposure, all to transition their technologies into thriving small businesses and partnerships.
This is highlighted by their work supporting the Army’s xTech program, which is a competition that aims to foster innovation and opportunity by providing a platform for small businesses to collaborate directly with Army leadership to support its modernization initiatives.
In the program's 6th iteration, xTechSearch 6, FedTech was introduced to RISE™Robotics and their innovative RISE™Technology aimed at powering the next generation of Army heavy machinery. RISE™Robotics presented the concept of zero-emission machines powered by the RISE™Cylinder, a fluid-free, electromechanical alternative to hydraulic cylinders for heavy equipment and machinery. The RISE™Cylinder addresses the battery-electrification problems inherent in hydraulic systems by delivering hydraulic-like forces at unprecedented efficiency, precision, speed, and weight while using up to 90% less energy than hydraulic cylinders.
As one of the competition finalists, FedTech assisted RISE™Robotics with the education and support necessary to understand and navigate the map and language of working with the Army, ultimately earning them exposure, opportunity, and the distinction of becoming an xTechSearch 6 winner.
Internal Innovation
This program fosters out-of-the-box thinking within corporate environments by offering custom solutions designed to unlock the unharnessed potential of clients. Teams are pushed beyond their comfort zones to help create better solutions for their organizations using practice-proven, evidence-based methodologies. This could be through intense short-term workshops or longer engagements utilizing VIP speakers, industry CEOs, and mentors.
Corporate Venture
science is the next frontier for corporate innovation.
FedTech believes that "science is the next frontier for corporate innovation. Headlined by startups in deep tech fields, advances in cutting-edge science from quantum communications to renewable energy are supercharging a new era of risk and opportunity."
Today, FedTech is a leader in the deep tech venture space. By collaborating with corporate partners, they are helping companies first to gain strategic insight and then turn that insight into action.
In their Corporate Venture program, they supplement current corporate capabilities with an entrepreneurial perspective on technology, working with companies to:
Build market strategy
Navigate the emerging technology environment
Conduct thorough diligence to provide foresight on startups
Launch spinouts
Operate accelerators to connect companies with best-in-class technology & talent
Encourage intrapreneurship
Today, FedTechs' commitment to unlocking the benefits of technology is possible through their deep relationships and collaborations with the DoD, NASA, DoE, NIST, VA, federal labs, research institutions, universities, and corporations. If you are an entrepreneur, a startup, or a company that realizes the potential of deep tech and is looking to take that next step, visit FedTechs' website to learn more about their programs and successful alums.
