PRESS RELEASE | OCTOBER 2015Highway1 Opens Applications For Spring 2016
On its second anniversary, Highway1, the PCH accelerator program for hardware startups, is increasing the investment up to $100,000 for each participating company, while also opening applications for the Spring 2016 program.
Applications & Investment Increase
Starting today, Highway1 is accepting applications for the Spring 2016 program. With the Spring cohort, Highway1 is increasing the investment in each startup, providing up to $100,000 for 8 percent equity or $50,000 for 5 percent. The increase provides funding early in a company’s formation, when key decisions are being made that impact the company’s future.
The deadline to apply for the Spring 2016 cohort is November 16, 2015. Interested startups can apply at: http://highway1.io/apply.
“Highway1 is the most rigorous, hands-on hardware program in the world. A startup can complete a year of product development in only four months, helping your company become fundable sooner. You can enter with a garage prototype and leave four months later with a fundable, looks-like, works-like prototype. We look for the most serious startup teams, who are pushing the bounds of technology and are committed and ready to get to work. The increase in funding offers startups more resources to engage hardware and software engineers, designers and others to achieve even more during the program.”
Brady Forrest, VP, Highway1
Brady Forrest will answer questions about developing hardware tech, life at Highway1 and the application process on Product Hunt Live Oct. 29 at 11:00 a.m. Pacific Time: https://www.producthunt.com/live/brady-forrest
October 2015 is the two-year anniversary of the first class at Highway1. Since then, the accelerator has helped advance some of the most popular hardware startups of the past two years, including Drop, Navdy, Podo and Ringly. In total, Highway1 has accelerated 58 hardware startups, which have raised $65 million in funding, with one company being acquired. A full list of Highway1 alumni can be found here: http://highway1.io/startups/alumni/
- 5 Classes
- 58 Startups
- 20 Female Founders
- 11 Countries
- $65 million venture funding raised
- $11 million raised in crowdfunding campaigns
- Fastest to market: 10 months after graduation selling in the Apple Store
- Largest product distribution footprint: Drop, Fall 13 graduate, available in 93 countries
“It’s very gratifying to have 58 companies and 153 founders go through the program at Highway1 in just 24 months. We have seen incredible talent and creativity, as more entrepreneurs from around the world get interested in making great hardware products and building lasting companies. With almost 20 years of experience in hardware, we are able to share our insights about how to get products made, how to scale the business, and how to get value out of each dollar of investment. We look forward to helping more entrepreneurs build their dreams.”
Liam Casey, Founder and CEO, PCH
The Highway1 Program
Highway1 offers a collaborative, hands-on environment with full-time engineering, design, business, and marketing expertise on staff, as well as 24/7, access to a 1,000-square foot electrical and mechanical hardware prototyping lab.
The four-month program is an intense immersion into scaling a hardware company, including a network of the top industrial design firms in the world and a trip to Shenzhen, China, to learn first hand about global manufacturing and supply chain management, including design for manufacturing (DFM) advice from the more than 200 manufacturing engineers at PCH.
Startups work out of the Highway1 office in San Francisco for the duration of the program, where a deep bench of mentors, alumni, component and service providers and investors lend their expertise and support. Highway1 startups also have access to the advanced prototyping lab in the AutoDesk Creative Workshop at Pier 9.
The program concludes with an invite-only demo day for investors, industry leaders and media at which the startups pitch their companies and demonstrate their products.