LOS ANGELES, Nov. 21, 2017 /PRNewswire-USNewswire/ -- The Michelson 20MM Foundation is now accepting applications for its edtech accelerator, Michelson Runway. The application is open on F6S through January 5, 2018. Selected startups can receive up to $150K in equity investment, with the possibility of an additional $150K in follow-on funding. The program was founded thanks to the support of philanthropist Dr. Gary K. Michelson and his wife, Alya Michelson.
The 4-month hybrid, virtual program is designed to support edtech innovators in developing creative solutions for improving equity, access, and efficacy in higher education and career training. In addition to funding, the accelerator provides select startups with free desk space in downtown San Francisco, product feedback from leading visionaries, access to world-class mentors and investors, and over $400,000 in partnership benefits.
"Perhaps now more than ever, technology has the potential to transform traditional models of postsecondary education, catalyzing innovation in edtech towards better access and affordability," said Dr. Gary K. Michelson, prolific inventor and founder of Michelson 20MM. "The accelerator invests in entrepreneurs who are passionate about expanding higher education opportunities for all communities, particularly those that are underserved."
Michelson Runway is heading into its second programmatic year after an impressive inaugural program which included visionary startups such as Motimatic, ReUp Education, Pragya Systems, and more.
To date, Motimatic, the first automatic motivational support system that improves outcomes for students, has gone on to raise $3.4M in Series A funding; ReUp Education has successfully re-enrolled over 1,000 students who had stopped-out of their degree programs; and Pragya Systems was named a partner of National University's newly launched Precision Institute, a four-year, $20 million, R&D effort using technological advancements in higher education to graduate more students.
"These are precisely the types of innovations we hope to continue to support," said Phil Kim, President of Michelson 20MM.
About the Michelson 20MM Foundation
The Michelson 20MM Foundation supports and invests in leading edge entrepreneurs, technologies, and initiatives with the potential to transform learning and improve access to educational opportunities that lead to meaningful careers. Michelson 20MM was founded thanks to the generous support of renowned inventor and spinal surgeon Dr. Gary K. Michelson, and his wife, Alya Michelson.
For more information, visit www.20mm.org. Follow us on twitter @Michelson20MM
About Michelson Runway
The Michelson Runway Accelerator is dedicated to supporting innovations in higher education and career training. Our guiding star is simple: All students around the world should have access to an affordable, equitable, and high-quality education that leads to a meaningful career.
The accelerator is slated to launch on February 15, 2018. Entrepreneurs interested in Michelson Runway's second cohort can start the application process by visiting www.michelsonrunway.com. Follow us on Twitter @MichelsonRunway
Contact: Mayra Lombera, 818 618 1281, Mayra@20mm.org
SOURCE The Michelson 20MM Foundation