NEW YORK–(BUSINESS WIRE)–New York University Stern School of Business is accepting applications for the 2019-2020 cohort of Endless Frontier Labs (EFL), a program for early-stage science- and technology-based startups. The program is structured to optimize each startup’s chance of scaling into a successful company through a goals-based mentoring process. EFL mentors are experienced entrepreneurs who have built and exited successful companies, world-renowned scientists and technical experts, and well-known venture capital and angel investors.
Over nine months, EFL mentors work with admitted founders to set goals for the startups to accomplish, and act as an informal advisory board to guide founders on how best to scale their businesses. Startups making progress are able to attract financing from investors in the program.
Consistent with its mission as a non-profit, EFL is a founders-first program and charges no equity or fees from participating startups. No NYU affiliation or relocation to NYC is required to participate. The program is appropriate for founders from around the world seeking deep connections to the thriving New York ecosystem or U.S. markets.
“Our mission is to bridge the gap between science and markets. We believe business strategy, validation by scientific peers, and connections to investors are critical for the successful commercialization of scientific breakthroughs. To that end, EFL provides founders access to an unparalleled network of business coaches, scientists, investors, and Stern MBA students to help transform their ideas into high-growth businesses,” said NYU Stern Professor Deepak Hegde, Director of EFL.
● EFL, launched in May 2019, reinforces NYU’s commitment to the thriving entrepreneurship ecosystem in the greater NYC region and U.S. markets.
● NYU Stern initially launched its venture program for science and technology startups as Creative Destruction Lab-New York City (CDL-NYC) in 2018, in partnership with the Rotman School at the University of Toronto. After a successful first year, the two institutions mutually agreed to end their partnership. EFL has no current engagement or affiliation with the Creative Destruction Lab.
● EFL mentors include eminent business leaders, angel investors, venture capitalists, and renowned scientists and technologists. These mentors were instrumental in driving the success of startups* like:
○ Analytical Flavor Systems, an AI platform used for optimizing flavor, aroma, and texture of food and beverage products;
○ Cogwear LLC, a low-cost, mobile EEG wearable to monitor brain states;
○ eggXYt, a gene editing for livestock genetics company developing a CRISPR-based system for detecting chicken sex prior to hatching;
○ Epistemic AI, an AI/NLP information platform;
○ Fakespot, an AI and NLP based data authentication platform currently focused on consumer reviews;
○ Lumii, an ML-inspired industrial light field printing platform;
○ MapNeuro, Inc, a high-throughput connectomics company;
○ Prime Discoveries, an AI/ML-based biological sample processing system;
○ Razzberry, Inc, a company that develops low-cost, microscale printed sensors;
○ Redesign Science, a computational chemistry company;
○ Regenosine Inc, a cartilage regeneration company;
○ Strand Therapeutics, a synthetic biology-powered gene therapy company;
○ Team Mobot, a robotics-as-service technology
● EFL mentors and investors also helped eight companies raise a collective $16M over the past year.
Founders of life science or deep technology startups at an early stage (that is, before Series A financing) are encouraged to apply to the 2019-2020 program cycle. The EFL application is now open until August 23, 2019.
“We are creating the premier ecosystem of entrepreneurship education and programs here on the east coast, in the heart of New York City, that fuels the demand for highly inspired ideas with equally high potential for impact,” said Raghu Sundaram, Dean of NYU Stern. “I am excited by the strides Endless Frontier Labs is making in taking us closer to this vision.”
More About EFL
Endless Frontier Labs (EFL) is a nine-month program at NYU Stern for early-stage science- and technology-based startups. Startup founders are advised by serial entrepreneurs, investors, and technical mentors to accomplish individualized business goals at eight-week intervals. These goals are designed to maximize each startup’s chance of growing into a high growth business. Startups that fail to make progress can be cut from the program at mentor discretion in order to optimize resources for startups that are excelling. Those that meet their goals are likely to attract investment from EFL mentors, as well as from one of the many venture capital firms that are represented in the program. While companies in the EFL program do not require an NYU affiliation to participate, all companies will benefit from access to and support from NYU scientists and Stern MBA students. Startups can also benefit from access to several in-kind services from EFL’s corporate partners, such as advice on intellectual property issues and related matters from global law firm Greenberg Traurig, LLP and server credits from Amazon Web Services. As EFL is a non-profit academic initiative of New York University’s Stern School of Business, EFL does not take equity or collect fees from startups. Further information and FAQ can be found on EFL’s website and follow us on LinkedIn and Twitter at @EFrontierLabs for regular updates.
About New York University Stern School of Business
New York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation’s premier management education schools and research centers. NYU Stern, whose faculty includes four Nobel Laureates in Economics, offers a broad portfolio of programs at the graduate and undergraduate levels, all of them enriched by the dynamism, energy and deep resources of one of the world’s business capitals. Visit www.stern.nyu.edu and follow NYU Stern on Twitter: @NYUStern.
*These startups participated in Endless Frontier Labs’ predecessor program, called Creative Destruction Lab-New York City, operated by NYU in partnership with University of Toronto during 2018-2019. The Endless Frontier Labs has no current engagement or affiliation with the Creative Destruction Lab.
Jessica Neville, 802-540-0132