In the startup world, tech companies often fall victim to what’s known as the “valley of death” — the gap between technological proof of concept and actual viable product.
Aiming to bridge this perilous gap, an Arizona State University-led, multi-institutional enterprise is funding eight promising companies with technologies that stand to spur economic growth in the desert Southwest.
NSF Engines: Southwest Sustainability Innovation Engine, or SWSIE, announced today $1.5 million in its inaugural round of Innovation Grants, which are intended to support the transition from proven model or prototype to commercialization.
Launched in early 2024, SWSIE is one of the National Science Foundation’s inaugural Regional Innovation Engines. By uniting academic, community, nonprofit and industry partners across Arizona, Nevada and Utah, SWSIE is creating a regional economic development ecosystem in the Southwest. This ecosystem is based on technological solutions to air quality, water scarcity and energy security — domains that enable regional industries in the Southwest critical to the global economy and national security.
“These startups emerged from a competitive selection process due to the promise of their technologies, which stand to advance new industries and future-proof existing ones,” said Brian Sherman, SWSIE’s CEO. “This series of awards is intended to be the first of many funding cycles that we believe will expand and strengthen our region’s innovation ecosystem.”
Full story: ASU-led Southwest Sustainability Innovation Engine funds 8 promising tech startups | ASU News