Fountech.Ventures launches deep tech incubator
Written by Peter Walker
Fountech.Ventures, an incubator for deep tech startups, has launched in the US and UK.
The subsidiary company of Fountech.ai, a four-year-old international artificial intelligence think tank and parent company to a number of specialist AI and deep tech firms, is based in Austin, Texas and originated in London.
Fountech.Ventures provides broader services over a longer timeframe so founders of deep tech startups can fast-track their businesses. It develops tailored programmes for members, sharing technical and commercial knowledge, along with the provision of interim chief executives, funding, business advice, office space and international networking opportunities.
Headed by Salvatore Minetti, a team of experienced tech experts will work with deep tech startups spanning AI, robotics, quantum computing and blockchain. Based on progress and continuous assessments, Fountech.Ventures will invest its own funds into its portfolio companies, from pre-seed level through to Series B.
Minetti said: “The US and UK are home to a vast number of deep tech startups that have immense growth potential, however, reaching that potential is difficult – tech experts and PhD graduates have incredible ideas for how to use new and advanced technologies but often lack the skills and experience to transform them into successful businesses.”
Fountech.Ventures already has six portfolio companies in its initial cohort. These include Soffos, an AI TutorBot; Prospex, an AI-powered lead generation tool; and Dinabite, a restaurant app built on an AI platform.
Rebecca Taylor and Joseph McCall have joined the Fountech.Ventures board as directors, with further appointments expected in the coming weeks.
Taylor is an industry fellow at UT-Austin’s Ethics Project and a senior-level executive with 35 years’ experience in inventing new technologies, forming startups, building committed teams and raising funds.
McCall is an experienced investor and advisor in the technology space, which includes being the executive director at the Texas Nanotechnology Initiative and an investor within Texas’ International Accelerator.
Nikolas Kairinos, chief executive and founder of the parent company Fountech.ai, commented: “This next-gen incubator is going to propel the growth of deep tech startups across both sides of the Atlantic – in doing so, we will enable innovative leading edge tech solutions to thrive and consequently improve the lives of consumers, businesses and societies.”