Applications Open for The Heritage Group Accelerator Powered by Techstars

INDIANAPOLIS, March 19, 2020 /PRNewswire/ -- The Heritage Group Hard Tech Accelerator Powered by Techstars is now accepting applications for its next program of startup companies modernizing legacy enterprise. Startups in industries such as construction, infrastructure, advanced materials, and environmental services are encouraged to apply now through May 10, 2020 for the program beginning September 8, 2020.

The Heritage Group Hard Tech Accelerator Powered by Techstars is a mentorship-driven accelerator that runs for 13 weeks, culminating with a Demo Day pitch event in early December. Selected founders spend three months in Indianapolis working from The Center. The startups work with companies and executives across The Heritage Group, as well as mentors from the industry and venture capital world, to develop their business models and prepare to fundraise. Participants also benefit from the expertise of the Heritage Research Group, an onsite world class R&D laboratory.

The inaugural cohort graduated in December 2019. Of 110 applicants, ten startups were chosen across a range of businesses, including a recycled leather-like textile, trenchless excavation equipment, and an IoT solution for detecting and monitoring harmful algae blooms. The inaugural class had nine female founders and CEOs. Four companies were founded outside the United States. Following the program, three companies have moved their headquarters to Indiana.

The Heritage Group strives to help each startup in the Techstars program. Companies in the first cohort had their products tested in the lab by Heritage Research Group scientists and ran pilot projects with Heritage companies, such as Milestone and Monument Chemical. All ten companies left the Accelerator with planned pilots, introductions to manufacturing partners, or leads on new customers. Following Demo Day, each company was poised to fundraise. One company, Wildnote, received $2 million in seed funding, led by HG Ventures, the corporate venture arm of The Heritage Group.

"Techstars was a transformational experience for our company," said Haley Keith, Founder and CEO of Mito Materials and alumni of the 2019 Heritage Group Hard Tech Accelerator Powered by Techstars. "It accelerated the growth of our technology, our team, and our network in more ways than I can count. I encourage you to apply if you're an entrepreneur who thrives on challenges, empowerment, and is hungry for growth in all areas—because that's what you will get out of this program."

Scott Kraege will serve as the Managing Director of the Accelerator in its second year. He stated, "I'm thrilled for this opportunity to support and mentor early-stage entrepreneurs in my hometown, alongside an organization that has made a remarkable impact on Indiana, The Heritage Group."

The Heritage Group is an innovative, values-driven organization passionate about supporting the startup ecosystem. In addition to its partnership with Techstars, The Heritage Group launched its corporate venture arm, HG Ventures, in 2018. HG Ventures has now invested in twelve startups.

Founders interested in applying for the 2020 class of The Heritage Group Hard Tech Accelerator Powered by Techstars can learn more at https://www.techstars.com/accelerators/heritage-group.

About Techstars
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,600 companies with a market cap of $16.1 Billion. www.techstars.com

About The Heritage Group
The Heritage Group is a privately held portfolio of companies focused on creating long-term value by building world-class businesses. Since 1930, it has managed a diverse set of business units involved in construction and materials, environmental services, specialty chemicals, and energy and refining. With operations in North America, Europe and Asia, and a client network that spans the globe, The Heritage Group's focus is on innovation, quality and service. At the core of this focus is the Heritage Research Group, the world-class research and development facility operating at the cutting edge of new technology to provide new products, processes, and training aimed at improving the way Heritage Group companies serve their clients.

About HG Ventures
HG Ventures is the corporate venture arm of The Heritage Group.  HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with private companies developing new technologies and approaches in both our core and adjacent markets. We leverage the world class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners.

SOURCE The Heritage Group