For the first time, WERCBench Labs held a competition at the end of its accelerator, dubbed “Demo Day.” The grand prize of $10,000 was awarded to Madison-based NovoMoto. East Lansing, Michigan-based Switched Source and Chicago-based ARIS Technology tied for runner-up, and each received a $5,000 prize.
South Bend, Indiana-based Indiana Integrated Circuits, Palos Heights, Illinois-based Global Green Products LLC and Madison-based EW Panel also completed the program and gave pitches. The only Milwaukee-based company that began the accelerator, KW Technologies, did not complete the program.
“They had to drop out because they weren’t able to attend,” said Jacquin Davidson, who administers the program for MWERC.
The 12-week WERCBench program began Aug. 29. Each participating company received a $10,000 grant from the Wisconsin Economic Development Corp. at the beginning of the accelerator and if they met expectations and graduated, a $10,000 investment, with investors receiving royalties.
The accelerator provided resources, assistance and office space to entrepreneurs as they tested their ideas or worked to bring their technologies to market. The companies had access to more than 90 mentors via MWERC’s membership. Read the full story here.