What is Furnace?

Furnace470

The Arizona Furnace TechnologyTransfer Accelerator is a competitive startup acceleration program designed to form, fund, and launch new companies that are built upon technologies and intellectual property licensed from Arizona’s premier research institutions.

Press Releases

Mayo Joins: http://www.prweb.com/releases/2013/9/prweb11131376.htm

Furnace Launches: http://www.prweb.com/releases/2013/9/prweb11179985.htm

Furnace offers:

  • Over 100 compelling technologies that are easily searchable, understandable, and ready to be licensed and brought to market by new startup management teams.
  • More than $100,000 in cash and services to winning management teams, including a $25,000 seed grant, nine months of complimentary incubation space, and acceleration programming led by top industry mentors.
  • A culminating Demo Day event for all supported ventures designed to facilitate follow-on funding deals, mergers, acquisitions, or accelerated sales and growth.

Who is applying to Furnace?

The Furnace Technology Transfer Accelerator seeks new and seasoned entrepreneurs to accelerate the commercialization of research organizations’ technology assets into viable business entities.

Furnace is not designed to advance all types of technologies or entrepreneurs. Instead, Furnace has been designed to advance a relatively narrow subset of research organizations’ technologies via an equally narrow subset of management teams. Expressly, Furnace may be best suited for the following technology commercialization scenarios and startup management team situations:

  • The researcher who developed the technology is not interested serving as CEO or as a majority shareholder in a startup scenario, but might be willing to serve as an advisor to the management team or as a minority shareholder on the management team.
  • The startup management team is seeking a streamlined technology search, due diligence, and licensing process.
  • The technologies are commercialized by experienced, successful, serial entrepreneurs or management teams, or by extremely driven, knowledgeable, and determined graduate-level students, researchers, or new entrepreneurs.
  • The startup management team is able to propose a novel commercialization plan for a specific technology, or set of technologies.
  • The startup management team could benefit from $25K in non-dilutive seed funding, workspace, and acceleration programming to advance their go-to-market efforts.

How does my management team apply to Furnace?

Visit http://www.furnaceaccelerator.com/ to:

  1. RSVP to attend a Furnace information session; state-wide throughout October 2013.
  2. Assemble your management team and select one of the 100+ technologies available for commercialization.
  3. Apply for $25,000 in non-dilutive seed funding by November 12, 2013 at 11:00 am MST.

For more information, contact NAU Innovations.