{"id":2369,"date":"2014-07-30T15:18:20","date_gmt":"2014-07-30T23:18:20","guid":{"rendered":"http:\/\/blogs.oregonstate.edu\/erlenmeyer\/?p=2369"},"modified":"2014-07-30T15:55:52","modified_gmt":"2014-07-30T23:55:52","slug":"advantage-accelerator-graduates-moving-toward-successful-new-businesses-jobs","status":"publish","type":"post","link":"https:\/\/blogs.oregonstate.edu\/erlenmeyer\/2014\/07\/30\/advantage-accelerator-graduates-moving-toward-successful-new-businesses-jobs\/","title":{"rendered":"Advantage Accelerator \u201cgraduates\u201d moving toward successful new businesses, jobs"},"content":{"rendered":"

Originally posted on News and Research Communications<\/a> by David Stauth<\/a><\/p>\n

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CORVALLIS, Ore. \u2013 Four promising startup companies in fields ranging from social media to chemical manufacturing are among the first \u201cgraduating class\u201d of the Oregon State University Advantage Accelerator, upon completion of a program designed to help lead them toward commercial success.<\/p>\n

Organizers of the new program say it\u2019s off to a promising start in efforts to bring more university research and community ideas to the commercial marketplace. This and other elements of the\u00a0OSU Advantage<\/a>\u00a0form partnerships with industry and work to boost the Oregon economy, while providing invaluable experiences for OSU students involved in many aspects of the program.<\/p>\n

\u201cOur program has unfolded as well or better than we had hoped, and we now plan to increase the output,\u201d said John Turner, co-director of the Advantage Accelerator. \u201cCompletion of this program means that companies have an increased chance to succeed and have a step-by-step plan to approach the future.\u201d<\/p>\n

\u201cBased on our experience in the first year of this program, we\u2019ve decided to conduct two cohort groups each year rather than one,\u201d Turner said. \u201cThe coming year will result in about 15-20 new startup companies.\u201d<\/p>\n

Success in a tough and competitive commercial marketplace is not automatic, however, and not all companies have the will and strength to complete the rigorous program.<\/p>\n

The first graduates have completed a \u201cportfolio\u201d of accomplishments, Turner said, that included training to attract investors, a validated business model, a schedule for future steps, and an initial product to show prospective customers, investors or manufacturers. A few clients are already attracting attention through the sale of products and generating profit.<\/p>\n

The OSU Advantage Accelerator provides mentoring with industry and entrepreneurial experts, consulting sessions, access to seed grants and the OSU Venture Fund, meetings with active investors, workshops on various topics, networking events and many other activities.<\/p>\n

One of the early participants in the program,\u00a0Onboard Dynamics<\/a>\u00a0of Bend, Ore., plans to market technology that could ultimately revolutionize the way America drives. It has developed systems that compress natural gas right in the vehicle and take advantage of the enormous current supplies of low-cost natural gas. The innovation is able to cut automobile fuel costs to the gasoline-equivalent of less than $1 a gallon.<\/p>\n

\u201cAn intern working with the Advantage Accelerator performed a lot of tasks relating to market analysis and startup activities that were incredibly helpful to the company,\u201d said CEO Rita Hansen.<\/p>\n

\u201cWe\u2019re in an excellent position right now, having been formally selected by the Department of Energy for a $2.88 million award, and our initial target markets are the underserved, small, light-duty commercial fleets,\u201d Hansen said. \u201cWe\u2019re very bullish about widespread adoption by these fleets of our products.\u201d<\/p>\n

A few other companies that have completed the program include:<\/p>\n