RAPID Growth NextFab program cultivates the startup community While New York and the Bay Area have the reputation as hot spots for startups, Philadelphia is staking its claim as a place that can attract, keep, and grow great hardware startups. NextFab’s highly competitive RAPID Hardware Accelerator program aims to support the startup community and keep its graduates grounded in Philadelphia. Venture Services Manager Todor Raykov works closely with each company and provides business guidance. “We connect the entrepreneurs to outside experts and organizations in the Philly startup ecosystem to provide feedback and resources. ” Hava Health, one of the four teams in the Fall 2018 lineup, is developing a vape pen that treats tobacco addiction. The pen uses two cartridges, one with standard nicotine oil, and one with a “clean” oil. By seamlessly transitioning between the two, the smoker kicks the addiction without simultaneously breaking their physical habit. Co-founder Josh Israel has a strong entrepreneurial and software background, but acknowledges that he needs help with hardware development. “We’ve applied to other incubators with previous companies and it can be a long, drawn-out and complicated process. The [RAPID] application process was smooth and they kept us informed every step of the way.” Another company, Sublight Dynamics, is developing a six degrees of freedom joystick. It has applications in gaming, drones, robotics and virtual reality. While attending Jefferson University, brothers Dan and Ben Stack became aware of NextFab. “We were looking at West Coast or overseas accelerators and we thought ‘Oh, wait – there’s one right around the corner!’” Rykov can’t help but boast about the Fall 2018 cohort. “This is one of the most talented groups of people we have had since the start of the accelerator program in 2016. Some of the startup team members are experienced entrepreneurs who have successfully built and sold startups in the past, while others are experienced engineers and scientists. One of our goals with this program is to not only help them build great products, but also help them stay and grow in our region because of all the things our burgeoning startup scene offers.”
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