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Posted by on in Startup Corner

In the past hardware startups have struggled when compared to app-based startups, however, the tide is turning as tech portals such as C-Net are pointing out. Venture capital investment in internet-connected hardware devices rising to $1.48 billion last year, a 76 percent increase from 2013.

Austria is no stranger to these developments as the local Austrian tech portal der Brutkasten has showcased. Discover below some of the Austrian hardware startups that left their mark in 2015!

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The New York Times has mirrored Forbes, who have called the Pioneers Festival a "smarter SXSW."

 

See the impressions captured by Reuters, and why Austria is on its way to accrue its status as the number one startup destination in Europe! 

 

 

 

NYT Source: http://www.nytimes.com/video/multimedia/100000003708547/startups-look-to-vienna-as-next-big-thing.html

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Austria is ready for change, and ready to embark on its journey to become Europe’s startup nation by 2020, as the Austrian State Secretary Harald Mahrer recently noted in an interview.

To enable favorable conditions for the future entrepreneurs of tomorrow, new talent pipelines need to be set in place, which provide Austria with viable talent. The ECN Network, and its Director Rudolf Dömötör have been on the forefront of these efforts, establishing the Entrepreneurship Avenue amongst others. 

As Austria's largest startup event series for students, it seeks to captivate students for the entrepreneurial lifestyle via four lab sessions and a one-day conference, which tackles basic yet essential questions on how to finance ones startup, up to how to penetrate and disrupt highly regulated industries.

 

 

Georg Fuerlinger, researcher at the Austrian Institute of Technology, and regular speaker at the OSTA/ABA Austrian Startup and Innovation Scene events in the USA, participated in this years Entrepreneurship Avenue, which he sees essential to Austria, "...unlocking its potential for innovation."

As a featured mentor he was able to pass on his advice to the eclectic startups, and students that participated. The labs and the conference, which drew over 750 students were hosted on the new futuristic campus of the Vienna Business University.

 

Fuerlinger applauded the interdisciplinary approach of the Entrepreneurship Avenue, which underlined that the startup arena is not only reserved to business or management students. Instead the translation of research to the market place is an essential one, which can be facilitated thanks to 3D-printing for example, a realm that was highlighted in one of the numerous Entrepreneurship Avenue conference workshops. 

To keep with the career focused outlook of the conference, JobSwipr, a joint Technical University Vienna-Vienna Business University team went on to win the pitch award with their mobile job search application/platform. The viability of product was recently underlined again when the team won the Future Founder Challenge commissioned by the Austrian Rudolf Sallinger Foundation

 

 

Austria's entrepreneurial effort shave not gone unrecognized, as the US Ambassador joined the Austrian State Secretary Harald Mahrer in greeting the young innovation students of tomorrow.

 

The ongoing international Pioneers Festival will set the stage for market ready startups, and could very well be the center stage for many of the young students that will decide to travel down the their very own 'Entrepreneurship Avenue' in the future. 

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Posted by on in Startup Corner

Chances are, you are throwing money out of the window, no really you are! 

The second day of the 1776 Challenge Festival devoted itself to energy, and the deficiencies that persist, and the solutions we need to "power" the future with. Within these discussions the flawed domestic household played a central role. From the cracks in our windows to the rigid heaters in our buildings, despite our testimony to being sustainable, our households are far from being so, building and apartments still being unable to adapt and learn our energy needs and behaviors. 

In effect, it does not come as a surprise that one of the two winners of the Energy semi-finals, Radiator Labs tackles old, wasteful buildings and, via a unique patent-pending product offering, improves their heating efficiencies up to LEED standard levels. 

 

The Cozy shell that promises to end inefficient radiators. Source: Cozy

 

Startups like these are part of a larger process in which entrepreneurs are looking to shift consume behavior, as Philips, one of the main sponsors of the Challenge Festival has noted.

 

 

This shift will come in gradual increments as more household products move towards becoming sustainable, and versatile agents. One of these items is MIITO, a sustainable alternative to the electric kettle. The demand for these energy efficient items is underlined by the $100,000+ funding MIITO was able to generate within the first twelve hours on Kickstarter.

This demand is in part fueled by the fact that, "....smart meters and smart rates [are] being deployed nationwide [which] give[s] customers more options" as Brian Wolff, Vice President of Public Policy and External Affairs, at Edison Electric Institute notes. With more dashboards at out disposals users are realizing the sheer energy wasted on households items such as electric kettles. Nils Chudy, co-founder of MIITO notes that, "...the amount of energy wasted on electrical kettles in the UK on a daily basis, is enough to power all of its street lights!"

 

MIITO, innovative induction plate "kettle." Source: Kickstarter

 

Unlike MIITO or Radiant Labs, Base Trace is looking to the source of energy to revolutionize the way energy is generated, and monitored. Ever since Fukushima, the nuclear industry has lost a key resource, namely trust. Base Trace is rebuilding this trust, by providing "tools for trust", which trace industrial fluids, how they move, where they come from, and where they are going. "Tracing these fluids is a key element for everything from environmental monitoring to optimizing existing processes" as Base Trace notes. In essence, nuclear and energy companies will be able to detect, and monitor leaks, earlier, better, and in a digital manner, which will bolster transparency for companies, and the civil sector alike. 

  

 

Base Trace as a result joined Radiation Labs as the second winner of the Energy semi-finals at the 1776 Challenge Festival. Both will compete along side the education, healthcare, and smart city finalists on Saturday for a share of the $650,000 Challenge Festival pot, which will be distributed as funding to the startups. 

Be sure to check back for more Challenge Festival news, as well as post-coverage of the Challenge Festival, which will look at the bigger picture when it comes to transatlantic entrepreneurial cooperation, and the innovation being born out of Austria.

 

Quote of the Day

 

"Running your properties smartly is now the rule" Patrick J. Tyrrell, CEO of Vornado

 

Tweet of the Day

 

The 1776 Challenge Festival is creating national ripple effects, however, is DC the 'East Coast Silicon Valley'? Donna Harris, co-founder of 1776 answers on the Kojo Ndami Show.

 

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Posted by on in Startup Corner

Its not everyday, and anywhere that you are promised to “...watch an awesome cartoon then when you're done you have a superfast brain."

The annual 1776 Challenge Festival, however, is one of those places.

Drawing in startups from all around the world, the Challenge Festival is the final culmination of the Challenge Cup, a 16-city, 11-country international pitch competition, which identifies the most promising, and stellar startups in education, energy & sustainability, health and transportation & cities.

Having traveled the world, 1776 has assembled some of the best, and young entrepreneurs, who promise nothing less than for example to hack your brain, and revolutionize, and gamify the way your brain learns. Meet B-Genius from Bangalore, India, which wants to use cartoons amongst others, to give you a superfast brain!

Trina Das, CEO of B-Genius. Source: 1776

The topic of education launched the first day of the Challenge Festival, and saw amongst others the recurring topic of exorbitant tuition fees being emphasized. Hours of policy wonk exchange revealed that while higher education might not yet be predestined for the dustbins of history, it must undergo serious scrutiny and review, in order to compete with, and address the real educational demands of the 21st Century. As a result modern proprietary school such as General Assembly will continue to serve as an alternative to young educated millenials.

To address these, and other educational demands twenty international startups got their minute of fame, as they delivered their elevator pitches in front of a packed crowd, and esteemed jury.

In true startup fashion, the jury decided to deviate from the classic setup, which sees each day of the Challenge Festival feature an industry-specifc semifinal that identifies two startups per industry to advance to Saturday’s Global Finals. Instead three startups got to advance to the finals, which is a testimony to the “really strong educational field of this year” as Evan Burfield, co-founder of 1776 underlined.

Read Morgan Gress, Editor at 1776 announce the three Eduction winners of Mondays Challenge Festival Education Semifinal:

Congratulations to today’s THREE education winners! It was such a tough decision the judges couldn’t just choose just two. Meet the three headed to Saturday’s Global Finals below.

 

LearnLux — LearnLux creates online learning tools to teach people personal finance when they need it most. The company allows companies to empower their employees to become financially autonomous by giving them the skills and knowledge they need to make the best financial decisions. Boston, Massachusetts

 

Cognotion — Cognotion identifies talent, delivers functional utilization of knowledge, and decreases employee churn rate using gaming and video tools designed for entry-level millennials. They use emotion and context to teach hard and soft skills to entry level employees. New York, New York

 

Handsfree Learning — Handsfree helps students, teachers & institutions in learn-by-doing disciplines by supporting instruction, practice, assessment & feedback. By applying a range of hardware and software solutions to the process of technical skills acquisition, the Handsfree platform expands possibilities in subjects like dentistry, medicine, culinary arts, fine arts, cosmetology, and lab sciences. San Francisco, California

 

Check back for more Challenge Festival news, as well as post-coverage of the Challenge Festival, which will look at the bigger picture when it comes to transatlantic entrepreneurial cooperation, and the innovation being born out of Austria.

 

Quote of the Day

 

"You watch an awesome cartoon then when you're done you have a superfast brain."

Trina Das, CEO of B-Genius outlining her use case scenario.

 

Tweet of the Day

 

@angiejusino captured the great pitch humor of @PermissionClick, which generated the loudest laughs of the night.

 

1776 Takeaway of the Day

 

Whether at the Challenge Festival or not, keep in mind these seven factors that define the success or failure of your potential six-figure pitch! Donna Harris & Evan Burfield, co-founders of 1776 outline the magic that needs to happen for startups to walk away with the bulk share of an $650,000 investment pot for example, which will be distributed at this years Challenge Festival.

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