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6 October 2017

NYU-backed accelerator sources participants

New York University has partnered venturing fund Rethink Education and trade advisory network StartEd for the accelerator, which could lead startups to a $170,000 follow-on investment.

Author: Callum Cyrus, reporter

Faculty and students from New York University (NYU) will assist startups in a US-based edtech accelerator launched by NYU, venture firm Rethink Education and advisory network StartEd, EdSurge reported yesterday.

The program, dubbed NYU Steinhardt Edtech Accelerator powered by StartEd, has chosen 12 startups operating in the edtech sector, ranging from kindergarten-focused technologies to industry communities designed to improve regulatory compliance.

Participants will receive a $20,000 upfront investment before spending three months attending development workshops and receiving advice on presentation and fundraising.

Rethink may then offer up to $170,000 in follow-on funding from its Rethink Education Seed Fund, a $15m vehicle launched alongside Southern New Hampshire University in March 2017 that aims to generate at least 25 seed-stage companies over five years.

Dominic Brewer, dean of NYU Steinhardt, said: “NYU Steinhardt is at the intersection of education, technology and entrepreneurship. The accelerator is an exciting opportunity for our students and faculty to interact directly with startups and to collaborate on real-world, entrepreneurial ventures."

The 12 startups, half of which were founded by women, were named as:

  • Cognitive ToyBox, which is developing learning and assessment apps designed for children attending kindergarten.
  • Core Labs, which offers a platform used by four US universities for organising mentorship schemes.
  • Compliance World, which administers online communities and courses for training industry professionals.
  • Invibed, a fintech portal providing advice to young adults.
  • KiraKira3D, an online community for 3D printing primarily marketed towards children.
  • Localised, a mentorship platform that will offer online seminars with features such as translation and customisation.
  • MedAux, a diagnosis and rehabilitation program for doctors. Patients can check in with their GP remotely and securely, while physicians can offer educational materials.
  • MoxieReader, which promises students a fitness tracker for learning, using digital intelligence, monitors and logs that provide personalised information to teachers.
  • Quartolio, an artificial intelligence platform that identifies research threads across a multitude of sources.
  • SecondAccent, which coaches non-native English speakers to improve their accents. Learners receive a voice-operated peripheral to monitor their progress.
  • Student Opportunity Centre, an online student fair that has signed up 250,000 undergraduates and offers extracurricular opportunities from 75 colleges and universities.
  • Wonda VR, which has built a teaching platform for creators looking to express their ideas through virtual reality.

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