Stage 3 of the E-Team Program is a venture development and investor readiness program, intended to help NCIIA E-Teams develop their businesses to the point where they can secure their first formal round of financing. Currently only for-profit ventures are supported at Stage 3.
Two sector-specific programs will be offered each year, typically cleantech and health, although other sectors may be offered a well.
Currently running is Village Capital VentureWell Health Boston 2014, a three-month, outcome based accelerator program for early stage innovative medical devices, diagnostic technologies and health IT platforms. The thirteen startups that are currently taking part in the Boston-based programs will present to leading investors and be mentored by industry leaders and other participating teams. At the end of the program, two ventures will be selected by their peers to each receive $50,000 in investment. Because these programs include both E-Teams and other teams at a similar stage. this peer-selected investment may or may not go to an E-Team.
The second VentureWell program for 2014 will be held in the fall with a focus on cleantech, in partnership with Village Capital and Greentown Labs.
E-Teams are also encouraged to apply for other programs conducted by Village Capital on which we are not partnering. Please request a recommendation from NCIIA when/if you apply so that we can encourage Village Capital to view your application favorably!
In addition to the Stage 3 programs with Village Capital, NCIIA also makes direct investments in E-Teams. Teams who have gone through the Stage 3 program or who are currently participating are preferred, but other E-Teams that are at the appropriate stage of development will also be considered.
We make 2-3 investments of up to $50,000 each per year. Selected teams are required to undergo suitable due diligence, as well as a 1:1 match from other accredited, sophisticated investors. Investments are administratively managed by Impact Assets on behalf of NCIIA.
For more information please contact firstname.lastname@example.org.
A partial list of some of the teams in which we have invested include:
IntelliWheels Founded by students at University of Illinois, IntelliWheels is launching a geared replacement wheel for wheelchairs. IntelliWheels received a NCIIA E-Team grant in 2010 and participated in NCIIA's Open Minds exhibition in 2010. The company has just recently raised equity funds from Serra Ventures, VentureWell, and others.
SmarterShade SmarterShade has a proprietary technology to produce a window that can be adjusted from transparent to opaque, at 1/3 the cost of the competition. The company, which came out of Notre Dame University, received a NCIIA E-Team grant in 2007 and participated in NCIIA's Open Minds exhibition in 2008. They have since received equity funding from VentureWell and others.
Promethean Power A company based in Massachusetts and in India, Promethean Power provides milk cooling and storage equipment to the Indian dairy industry. The genesis of the project was in part funded by a NCIIA E-Team grant received in 2007.
Therapeutic Systems Founded by a PhD student team from University of Massachusetts Amherst, Therapeutic Systems makes the Vayu Vest, a product for autistic children. Therapeutic Systems received a NCIIA E-Team grant in 2007 and participated in NCIIA's Open Minds exhibition in 2009.
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