First-of-its-kind water technology accelerator announces second round
The BREW (Business. Research. Entrepreneurship. In Wisconsin.), formerly the Global Freshwater Seed Accelerator, is launching Round II of its program.
MILWAUKEE, WI, March 4, 2014 -- The BREW (Business. Research. Entrepreneurship. In Wisconsin.), formerly the Global Freshwater Seed Accelerator -- a first-of-its-kind accelerator for water technology startups led by The Water Council -- is launching Round II of its program. The application process opens March 4 at 8:00 am (CST) and accepts applications through April 4 at 11:59 pm (CST). Up to six winners will be selected by Monday, June 16, to participate in Round II beginning in September.
The goal of The BREW is to unleash unique water technology startups, expand Milwaukee's Global Water Hub by accelerating results, and inspire action to create further opportunity in the water industry. "This accelerator program provides a great opportunity for emerging water-technology companies to take the next step in their development by utilizing the many services offered by The Water Council and by working side by side with others in the industry, as well as university experts," said Reed Hall, secretary and CEO of the Wisconsin Economic Development Corporation (WEDC).
Winning entrepreneurs receive:
· A suite in the Global Water Center
· Business model/operations training with the Council/University of Wisconsin-Whitewater Institute for Water Business
· Access to faculty and students from the University of Wisconsin-Milwaukee (UWM) School for Freshwater Sciences
· Access to the Global Water Center's Flow Lab
· Mentorship from dozens of area water technology experts
· Attendance to conferences and pitch sessions with The Water Council
· Access to investment capital funding sources and the Water Technology Network
The BREW was created by The Water Council and WEDC -- a demonstration of Milwaukee and Wisconsin's reputation as a global center of excellence for water-related research and industry. The BREW accelerator program debuted in 2013 and is managed by The Water Council. Funding is provided in part by WEDC in $50,000 investments for up to six water technology startups with commercialization potential and matched by industry representatives and The Water Council.
The Water Council and a separate panel of global expert judges rank entries using multiple criteria, including commercialization potential, compatibility with existing companies and long-term interest in growing in Milwaukee. Grants will fund startup costs, including lab supplies, research and product development expenses, and professional services. Participants in Round I have each extended their lease for another six months and graduate at the Water Summit on Thursday, June 19. Inaugural graduates include H2Oscore, Microbe Detectives, New Works, Noah Technologies, and Vegetal Innovation & Development.
About The Water Council
The Water Council, the only organization of its kind in the United States, was established in 2009 by Milwaukee-area businesses, education and government leaders. With more than 150 water technology companies in the Milwaukee area, the region's water industry is a $10.5 billion dollar market and accounts for four percent of the world’s total water business. The non-profit organization is linking together global water technology companies, innovative water entrepreneurs, acclaimed academic research programs and, most importantly, some of the nation’s brightest and most energetic professionals. The Water Council is capturing the attention of the world and transforming the Milwaukee region into a World Water Hub for freshwater research, economic development and education. For more information, visit www.thewatercouncil.com.
About Wisconsin Economic Development Corporation
Wisconsin Economic Development Corporation (WEDC), formed in 2011 as a public-private entity, leads economic development efforts for the state and nurtures business growth and job creation by advancing Wisconsin’s business climate. In addition to Wisconsin’s strong legacy industries of agriculture and manufacturing, recent growth has occurred in water technology, renewable energy, bio-sciences, health care, and food processing. In 2012 Wisconsin was ranked No. 20 in Chief Executive Magazine’s “Best States for Business” and No. 17 as a top state for business by CNBC. WEDC partners with 650 economic development organizations throughout Wisconsin to serve businesses looking to start, grow or relocate. For more information, visit www.inwisconsin.com.