CO.LAB, co-host of the GIGTANK 2012 accelerator program, on Wednesday announced that online applications for GIGTANK 2013 are officially open.
GIGTANK is the world’s only accelerator on a living fiber network, enabling next-generation startups to launch their businesses while taking advantage of Chattanooga’s one-gigabit-per-second Internet speeds. The program aims to connect entrepreneurs with the tools, capital and contacts needed to go to market.
The summer-long program kicks off on May 13 and runs through Aug. 6. GIGTANK will culminate with Demo Day, when participants pitch their startups to hundreds of investors, potential collaborators and members of the press.
“Following the success of GIGTANK 2012, we’re excited to see what 2013 will bring,” said Sheldon Grizzle, founder of CO.LAB. “As we begin the selection process, we’re looking for startup founders who want to reinvent modern life. In a sense, we’re looking for pioneers of the future.”
The ng Connect Program, founded by Alcatel-Lucent (EURONEXT and NYSE: ALU), has become an initial founding partner of GIGTANK. The ng Connect Program is a multi-industry ecosystem dedicated to the creation of the new generation connected user experience through collaboration of 200-plus technology-focused companies.
Together, these member companies develop “service concepts” - prototypes for next-generation services in entertainment, retail, healthcare and other industries that touch our daily lives.
“The member companies of the ng Connect program have developed groundbreaking prototype connected services, such as a connected-service vehicle and cloud-based learning,” said Jason Collins, vice president of Emerging Technology and Innovation at Alcatel-Lucent. “By partnering with GIGTANK’s entrepreneurs and leveraging Chattanooga’s fiber network, we can bring these services to life and potentially work with telecom service providers around the world to ultimately reach a broad customer base.”
GIGTANK participants will have access to a resource “toolkit,” which will include several ng Connect service concepts as well as the various pieces of technology used to build them.
Additionally, participants will receive between $15,000 and $115,000 of investment capital.
Following Demo Day, selected teams will be given the opportunity to participate in a “Roadshow” across the country, showcasing their new ventures.
“GIGTANK has evolved quite a bit since the inaugural program last summer but the purpose remains the same: to connect high-growth potential startups with technology, mentors, capital and customers,” said Mr. Grizzle. “Our initial partnership with ng Connect will be a strong complement to our local partners at LampPost Group, EPB, Chattanooga Chamber, UTC and many others. We look forward to expanding our network of collaborating partners as GIGTANK 2013 approaches and gets underway.”
For more information or to apply to GIGTANK, visit www.thegigtank.com. For more information on ng Connect, visit www.ngconnect.org.