TCIP Demo Day 2017: 5 Game-Changing Startups To Keep An Eye On
It’s no secret that Utah’s startup community is alive and well, but how often do we as consumers pause to take a look at the up-and-coming generation of innovative, local companies? For attendees of the Technology Commercialization and Innovation Program (TCIP) Demo Day, that’s exactly what’s on the agenda. Organized in 2015 by the Utah Governor’s Office of Economic Devlopment (GOED), the TCIP began as a grant distributor that was originally exclusive to startup teams that represented local universities. It was such a successful venture that GOED decided to open its application process to any Utah-based startup that meets TCIP prerequisites.
After receiving grants from GOED and a battery of professional mentoring services from BoomStartup, grant recipients have five minutes to present in front of a crowd of industry leaders and investors during TCIP Demo Day. This year’s event took place within the welcoming confines of Impact Hub Salt Lake, one of Salt Lake’s premier business incubators.
TCIP Demo Day represents a unique culmination of Utah’s commitment to nurturing small businesses and the entrepreneurial spirit that is necessary to get so many of these innovative companies off the ground. It also happens to be a blast to watch — twelve local companies only get five minutes to pitch their product, demonstrate its target market, and illustrate their marketing strategy to a crowd of industry professionals and potential investors.
While all twelve of these local startups are excellent examples of the kind of talent and resourcefulness that local business owners possess, here are the five that made the most of their five minute pitches.
PK Clean
One of the most fascinating things about attending an event like this is having the chance to see science fiction become reality right before your eyes. In the case of PK Clean, I’m thinking of Doc Brown’s garbage-fueled DeLorean from Back to the Future 2. PK Clean has a facility in Utah that has been recycling plastic waste into low-sulfur fuel. While there are other companies employing a similar process, PK Clean’s facility boasts the lowest operating and capital cost in their industry — all while being sustainable and producing zero toxic emissions.
Storj Labs
Cloud-based storage has become quite the cash cow — all the Silicon Valley heavy hitters have a dog in that fight. What they also have is a centralized data center, which is something that Storj Labs has removed from their Cloud-based storage format. They’ve engineered a way to break data into encrypted shards that get reassembled when its needed. Each subscriber’s hard drive essentially becomes part of a networked data center that protects information and cuts down on download and upload speeds. Subscribers can even rent their extra hard drive space to others who need extra storage.
Through the Cords
It’s always surprising to learn how many medical procedures have remained the same for decades. Obviously, if something isn’t broken, there’s no need to fix it, but the folks at Through the Cords have definitely identified an area in the medical field that needs fixing. Take, for example, the intubation process that is designed to keep an airway open in the event of respiratory obstruction. In its current iteration, around 10% of intubations fail, which results in the loss of around 90,000 lives every year. Through the Cords has developed a color-coded medical device that can more accurately measure its depth in the patient’s ventilation system. It’s an elegant solution that has the potential to save thousands of lives.
Novi Security
As home security becomes easier to integrate with mobile devices, consumers have been given a unique opportunity to exert more control over their own security systems. Novi Security has built its company around a device that connects to a home router, and uses the wireless connection to connect with the customer’s phone. Once the connection is established, the device will send photos and other information to a mobile device, giving the customer full control over whether to sound an alarm or call local authorities.
Elastocrete
As the construction industry continues to grow, builders are constantly looking out for more versatile materials for their different projects. The aptly named Elastocrete is seeking to secure a portion of that industry with its unique cement that combines the plasticity of elastic and the strength of concrete. Elastocrete has a wide range of uses, though it’s currently being marketed as a flooring and countertop alternative. It combines the durability of concrete — in fact, it’s three times stronger — with a low-impact material, making it ideal for surfaces that see a lot of foot traffic.
All in all, TCIP 2017 brought some impressive new voices together under one roof, and it will be exciting to see what the rest of the year holds for them.
