Industry News

New Accelerator at Arizona State U Accepts First Startup

• By Michael Hart
• 04/22/16

Arizona State University (ASU), a venture capital firm and an investment consultancy are partnering on a new initiative that will help get education technology to the market faster by allowing new ventures to be tested by students and faculty.

The initiative, the ASU Draper GSV Accelerator, will source, fund, pilot and credential new products created by higher-education technology companies.

Partners in the initiative are:

• Arizona Technology Enterprises, an arm of ASU that manages intellectual property;
• Draper Associates, an early-stage venture capital firm based in San Mateo, CA; and
• Global Silicon Valley, an investment advisory firm that focuses on educational technology.

Companies that are accepted into the accelerator will receive training and mentoring through Draper University, an entrepreneurial boot camp in Silicon Valley, and the ASU, Draper and GSV network of experts. Companies that successfully complete the program will receive a certification of market-preparedness, signaling to colleges and universities that their products are ready to use.

Good candidates for the ASU Draper GSV Accelerator are companies whose product is nearing commercialization, but any venture that has received seed funding or beyond is qualified to apply. The program will offer demo events, featured space at the annual ASU GSV Summit and, potentially, workspace in ASU's SkySong innovation center in Scottsdale, AZ. There is no geographic restriction, and relocation is not required.

The first company accepted into the project is CampusLogic, a firm based in Gilbert, AZ, that has developed a personalized, cloud-based tool to simplify the financial aid process.

Four more companies are expected to be accepted by August 1.