December 31, 2016 by Carl Irwin, TTE Director
Dear Friends of TransTech Energy,
The TransTech team at WVU would like to sincerely thank you for your support during our initial five years. It’s been quite a journey – and would never have happened without co-sponsors, pitch presenters, reviewers, judges, investors, industry partners, speakers and panelists, and the general public – all of whom are integral to building a vibrant “entrepreneurial ecosystem” in our region.
As you know, the objective of the TransTech program is to facilitate and support creation and commercialization of innovations from research universities, national labs, corporate development centers, and inventors working in garages and basements across the multi-state region.
The annual TransTech Energy (TTE) Business Development Conferences are a highly visible and public part of achieving this objective. The 5th TTE Conference, held October 26-27, 2016 in Morgantown, included:
- Approximately 220 participants: entrepreneurs, investors, academic, industry, national laboratory, state and federal government, students, technology-based economic development, and the general public.
- 20 outstanding speakers and panelists
- 24 pitches for funding for start-up companies and commercializable projects from PA, OH, WV, OR, FL.
- Approximately 30 expert judges (8 judges for each of 5 pitch sessions) and session moderators evaluated and scored pitches
- Pitch Session Judges nominated 12 presenters for the Finalists Pitch Session
- Conference Awards valued at $68,000 were presented to 14 start-up companies
- Approximately 45 exhibits, demos, and posters (including 15 WVU research groups) were featured at the Link-Up and Learn! Conference Reception
- The 2016 TTE Conference Book, the Link-Up and Learn! Conference Reception Book, and the Charles M. Vest Tribute Book are available on the website http://TransTechEnergy.org
Overall, the first five TTE Conferences (2012 – 2016) have enabled 99 pitches for funding by start-up companies and commercializable projects representing 15 states – though mostly from PA, OH, and WV. Technologies pitched include robotics, sensors and controls, energy efficiency, water treatment, waste heat recovery and use, automotive engines, compressors, renewable energy, electric vehicles, bio fuels and products, CO2 capture, productive uses of CO2, advanced materials, health and safety, and more.
During the initial five years of TransTech, approximately $415,000 was received in co-sponsor funding and sponsored awards for outstanding pitches and companies.
During the next few months, we will conduct an assessment of accomplishments for TransTech alumni companies and projects – follow-on funding, customers acquired, jobs created, and other highlights will be reported.
Again, thank you very much for your help! There is much yet to be accomplished and we look forward to your continued interest, input and involvement.
Best wishes for the holiday season – and a great 2017!