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2 October 2017

Ten universities grind SoCal Startup Mill

The mainly California-based institutions have replicated the approach of an Arizona State University accelerator in the SoCal Startup Mill.

Author: Callum Cyrus, reporter

Ten mainly California-based campuses teamed up with the Los Angeles Venture Association (Lava) trade body on Friday to launch the SoCal Startup Mill accelerator for US-based technology spinouts.

The program aims to nurture intellectual properties with strong potential and a management team capable of delivering the business plan. Lava hopes investors will then be drawn to the table.

SoCal Startup Mill will feature 12 teams and 25 business mentors, five of whom are already contracted for the program’s launch in October 2017. Co-working space will be provided from within the program’s headquarters at Arizona State University (ASU)’s California Centre in Santa Monica.

ASU’s tech transfer and innovation offices, Arizona Technology Enterprises and Entrepreneurship and Innovation, targeted the Arizona ecosystem with the original Startup Mill formed in 2015, which Lava has now used as a template.

Len Lanzi, executive director of Lava, said: “Faculty and innovators at major research institutions produce some of the most cutting-edge solutions to major societal challenges, but even the best ideas need more than funding to succeed.

“The SoCal Startup Mill will match high-potential startups with experienced entrepreneurs who understand the pitfalls young companies face – and the means to overcome them.”

The ten participating institutions are: ASU, University of Southern California, California State University, Los Angeles, California Institute of Technology, Children’s Hospital Los Angeles, Los Angeles Biomedical Research Institute, University of Hawaii and University of California, Irvine as well as University of California, Santa Barbara.

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