BLOOMINGTON – The NavalX Midwest Tech Bridge and Naval Surface Warfare Center, Crane Division (NSWC Crane), in collaboration with The Mill and Dioltas, today announced that registration is open for the second annual PRomising OPportunities for Engagement with the Local ecoSystem (PROPELS) tech transfer program.
PROPELS assists entrepreneurs in licensing and commercializing technology developed by the Navy.
Four patented innovations will be showcased at a tech expo on April 26th. Potential licensees will participate in an intensive week-long business accelerator to create commercialization plans and pitch deck, with support from The Mill and NSWC Crane. The program culminates in a public demonstration of those plans on June 20 and the opportunity to participate in the Radius Indiana Pitch Competition on June 27th. The Mill and Crane will then provide ongoing technical and administrative support to assist the participants in launching new businesses and/or product lines.
“We introduced the concept of a technology transfer challenge last year with great success,” explained Maria Duran, director of NSWC Crane’s Office of Technology Transfer (T2). “This year, we want to expand the number of entrepreneurs involved and believe we’ll diversify the skillsets of participants based upon new technology available.”
“Connecting the entrepreneurial community with the Navy is one of the goals of NavalX,” said Anne Fields Lucas, director of the Midwest Tech Bridge, headquartered at NSWC Crane. “It’s our hope that events like PROPELS create synergies for future collaboration between the government and the tech community all with the intent of increasing our defense industrial base and supporting our warfighters.”
The government-invented technology that will be showcased includes IP for drone detection and tracking, a specialized tourniquet to treat hard-to-reach injuries, natural language processing (NLP) software to categorize large amounts of data, and a 3D-printing innovation for additive manufacturing.
NSWC Crane scientists will present the tech–what it is and how it’s being used by the Navy–during the Crane Tech Expo at The Mill on April 26. Entrepreneurs interested in licensing one of the feature technologies will then participate in the PROPELS accelerator, a week-long boot camp to create a plan to launch a commercial product or platform. Ongoing support for the licensing process and business launch will be provided as well.
“Crane’s IP presents incredible opportunities for entrepreneurs,” said Pat East, Executive Director of The Mill. “Some of these innovations are virtually plug-and-play. We’ve already seen firsthand how a founder can take Navy tech and quickly build a company around it.”
Andy Lehman, Head of Accelerator Programming at The Mill, commented, “The best part about PROPELS is that you don’t need to have experience working with the defense ecosystem to succeed. Crane, the NavalX Midwest Tech Bridge, Dioltas, The Mill, we’re all working together to bridge gaps and connect entrepreneurial talent to world-class IP.”
Assisting in the production of the accelerator is Dioltas, a national security-focused, disruptive technologies strategic advisory.
“Creating purposeful collisions between government and innovators is critical to advancing our national security capabilities,” said Mike Dodd, Dioltas Advisory Board Chairman. “This event and accelerator does just that and can potentially introduce new companies and individuals to the Midwest defense ecosystem.”
At the conclusion of the accelerator program, participants can license the technology from the Navy and launch new businesses or product lines. They’ll also be invited to pitch their ideas and compete for prizes at the Radius Indiana Crane IP Defense Innovation Pitch Competition.
RSVP here for the April 26 Tech Expo showcasing the IP up for licensing. A networking reception with complimentary hors d’oeuvre and drinks from Upland follows the presentations.
Learn more about PROPELS and register for the business accelerator here. The program is free.
