Materium Technologies wasn’t accepted into a new accelerator for polymer and materials science startups, funded as part of the Polymer Industry Cluster. The New Jersey company has to have a place of business in Ohio in order to qualify.
So it’s working on relocating, Synthe6 Materials Accelerator program director Nick Glavan said. In the meantime, Materium Technologies leaders can audit classes that are part of the Synthe6 Materials Accelerator and prepare to apply again to be part of the cohort when the next round of applications is available.
That’s the impact Glavan and others expect the accelerator to have — as part of a network to help early-stage companies find investors, it can attract businesses from around the country to relocate to Akron.
In the first cohort, eight early-stage businesses were selected from among 20 applicants, Glavan said. The program, which is being run through Bounce Innovation Hub, will have four cohorts with an expected 32 additional participants over the next three years.
In an emailed statement, Hans Dorfi, the executive director and chief innovation officer of the Polymer Industry Cluster, said giving early-stage companies resources to grow attracts others, as well.
“By creating an ecosystem where entrepreneurs can access capital, facilities, and expertise, Akron builds its reputation as the place for material science startups to thrive,” he said. “That, in turn, draws new businesses to establish themselves here and helps retain people — scientists, engineers, founders, and young professionals — who want to build their careers in a community that invests in the future.”
Glavan said while there are accelerator programs for health technology and other entrepreneurs, this is the only one he’s aware of for material science.
“In part, we’re attracting new businesses to our region,” he said.
What is the Synthe6 program intended to do?
Eight early-stage companies are part of the first cohort, which will meet for three hours each Friday for a year. Glavan said early meetings, which began in mid-September, focused on soft skills, including how to set goals and how to ensure managers could shoulder the burden of the program without their businesses suffering.
Future sessions will include mentorship opportunities, coaching and panel discussions. Some networking opportunities that are part of the program will be opened up more broadly to the community in order to help attract people to the next cohort and extend the effectiveness of this one.
The program will end with an investor presentation, with the expectation that participating in Synthe6 will help these businesses find the funding they need to go to market faster, Glavan said.
The polymer pilot facility that will be built on the University of Akron’s campus will further help the businesses test materials and experiment before they scale — something that will make it easier for the work to be done locally.
Most of the businesses in this first group have two to four employees, Glavan said. Some have revenue streams from other parts of the business or leaders who have been entrepreneurs before, while others are spinning businesses out of their in-progress doctoral programs and starting this work for the first time.
Regardless of how far along the participants are, Glavan said they’ve been “honest and raw” about sharing their successes and failures.
“We want to create an ecosystem where everybody knows you come to Akron if you’re working in polymer science,” Glavan said. “Bounce’s role is training and preparing new technologies to move forward.”
What companies were chosen for the Synthe6 accelerator program?
The participants in the first cohort are:
- ACE Innovations, which produces asphalt additives made from recycled materials that improve adhesion and durability. The founder is Erick Sharp.
- Auxilium Health, which has designed a wound dressing that actively heals while detecting and preventing infections. The founder is Isaiah Kaiser.
- BioVerde, which relocated from Texas, uses methane, including waste methane, to produce sustainable raw materials for plastics and rubber. The founders are Simon Upfill-Brown, David Witte and Peter Heifetz.
- GelPure is developing a filter material that removes “forever chemicals” from drinking water. The founders are Moni Mahesh Ghosh, Brandon McReynolds and Sadhan Jana.
- Plastinuva recycles polypropylene using biodegradable oils to create high-quality material equal to new plastic. The founder is Sridhar Viamajala.
- PolyKinetix is developing a portable system that converts mixed plastics and old tires into usable fuels. Its founder is William Ullom.
- Seauciel is developing a water-based process that breaks down mixed, hard-to-recycle plastics. Its founder is Paul Boulier.
- TKM Ballistics creates lightweight ballistic shields and stretchers using advanced polymers and inflatable technology. Its founders are Thomas Milo and Angelina Milo.
The funding for the program is part of $100 million in state and federal money that is helping to build out the Polymer Industry Cluster locally. Funding for the accelerator is provided by the Ohio Department of Development for four cohorts; Galvan said he’s optimistic that if the program is successful, private industry will pay for the program to continue for future groups.
In his statement, Dorfi said the program’s launch represents a major step in the region’s economic future. The startups are tackling global challenges that range from advanced recycling to medical innovation, he said.
Dorfi said the selected companies address challenges in fast-growing markets such as healthcare, advanced recycling, bio-fermentation and defense. The program will fill a critical gap to help early research companies become market ready, he said, by ensuring “that ideas don’t stall in the lab but move into pilot production, customer validation, and eventual scaling.”
“This accelerates the innovation pipeline by turning Northeast Ohio into a launchpad for ‘tough tech’ materials companies, ensuring the region remains at the forefront of global polymer and advanced materials leadership,” Dorfi said.
Glavan emphasized the uniqueness of this program, saying it aims to build up the people behind the innovations to give them the skills they need to succeed.
“We’ll see in the next year as the rubber meets the road,” he said. “We’ll see how it goes as we keep working through it.”