Salt Lake City Startups Deliver Pitches to Potential Investors
At the close of 2021, together with VentureCapital.Org (VCO), we announced a new free Smart City Accelerator program for Salt Lake City startups working with technologies that can contribute to smart city development. After a careful review of interested applicants, we selected five startups to form part of the accelerator’s inaugural cohort.
In May, these five businesses leveraged all the information and skills they learned over six weeks to deliver a live pitch for investors, including regional, angel, venture capital, and family office investors.
After the demo day, Program Manager Arnold Liyai at US Ignite shared, “it is exciting to see what the companies in this cohort have built, and to discover the transformational ways they will impact the community. VCO and the Utah Small Business Development Center have been fantastic partners in this effort and delivered a stellar program. We look forward to continuing this partnership and promoting the adoption of these solutions both locally and regionally.”
“Already in our first cohort, Thomas Clardy, Founder and CEO of Powder Watts, raised $2.3 million from 23 investors as a result of our deal forums, education, and mentoring. We couldn’t be more proud of our startups this year! Our goal is to provide all our startup founders with the knowledge, connections, and mentorship necessary to become successful entrepreneurs.” Trent Christensen, President and CEO of VCO
Progress so far
As of the conclusion of the accelerator, these startups reported close to $3.3 million in capital raised, plus over $1.4 million in earned revenue. Although the official program sessions ended, the startups have requested for US Ignite and VCO to continue connecting them to like-minded entrepreneurs, mentors, and funders in the smart city tech space.
Next Smart City Accelerator
This first cohort of startups successfully completed the Smart City Accelerator program, receiving mentoring in go-to-market strategies, fundraising, and commercialization efforts. We’re proud of this huge accomplishment, and we want to replicate it for other startups working in areas that can contribute to the smart city ecosystem. Sign up here to receive a notification of how and when your startup can submit an application to join the next cohort.
The Smart City Accelerator would not be possible without the support of our partners:
- Economic Development Administration
- Salt Lake City Department of Economic Development
- Salt Lake Small Business Development Center