Stanley Black and Decker (NYSE:SWK)
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6 Months : From Jun 2019 to Dec 2019
NEW BRITAIN, Conn., July 15, 2019 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) and Techstars, the worldwide network that helps entrepreneurs succeed, today announced the participants of the second-annual STANLEY+Techstars Accelerator.
This year's class includes 10 companies from around the globe who are focused on additive manufacturing and on developing sustainable packaging solutions. This year's addition on sustainable packaging reflects Stanley Black & Decker's commitment to "help build a more sustainable world" as part of its partnership with the Ellen MacArthur Foundation.
"We reviewed applications from 30+ countries and have accepted companies from Spain, Germany, India, Texas, New York, Boston and California," said Claudia Reuter, managing director of the STANLEY+Techstars Accelerator. "I'm also thrilled to share that nearly half of our 2019 program companies have a female founder, particularly since roughly only 3% of venture funding typically goes to female-led companies. Each of the 10 companies we have selected are exceptional and have the potential to disrupt industries and change the world for the better."
The 2019 STANLEY+Techstars class includes:
- Accelerate3D - Manufactures large-scale 3D printers which print 10X faster than the market standard
- CRASTE - Builds sustainable products for packaging from waste crop residue
- Boxologic - Creates robotic, instant, right-size packaging for e-commerce fulfillment
- NVEarth - Produces bio-based lubricants, cleaners and absorbents
- OCCO - Provides molecularly fresher ingredients in more sustainable packaging
- Prinsta - Develops the next generation of electronics manufacturing
- Triditive - Developed AMCELL, the first automated industrial hybrid AM machine for mass production
- Tuffel - Focuses on building the next generation of power tools
- Umeleon - Provides customized filaments for FDM printers on demand
- WOMP - An AI-powered platform for generating, interacting and making objects
These 10 startups are co-locating to Stanley Black & Decker's new Advanced Manufacturing Center of Excellence – Manufactory 4.0 – located in Hartford, CT for the next several months. The accelerator will culminate with a special Demo Day on October 10, 2019 that will be open to the public.
"Additive manufacturing is one of the most important areas of technological transformation today and has the potential to influence the future direction of the industries in which our businesses operate," said Marty Guay, Vice President, Business Development at Stanley Black & Decker. "At the same time, there is a tremendous need to eradicate waste and pollution driven by plastic packaging around the world. Between these two categories, we hope to see these startups challenge the status quo and bring new ideas and technologies to fruition. We're proud to help provide the accelerator and the platform to do so."
The STANLEY+Techstars program helps emerging companies build their businesses via funding and mentorship. Within one year of participating in the program, the first STANLEY+Techstars class has collectively raised over $6 million and several companies have expanded or are in talks for deals with major companies. Four of the startups are establishing their business presence in Connecticut – CALT Dynamics from Ireland, MetalMaker 3D from Canada, Astroprint from San Diego and Kwambio from the Ukraine.
To learn more about the STANLEY+Techstars program, visit https://www.techstars.com/stanley-program/.
About Stanley Black & Decker:
Stanley Black & Decker (NYSE: SWK) is a purpose-driven, $14 billion revenue industrial organization. Stanley Black & Decker has 61,000 employees in more than 60 countries and operates the world's largest tools and storage business, the world's second-largest commercial electronic security services company, a leading engineered fastening business as well as Oil & Gas and Infrastructure businesses. The company's iconic brands include Black & Decker, Bostitch, CRAFTSMAN, DEWALT, FACOM, Irwin, Lenox, Porter Cable and Stanley. Stanley Black & Decker is a company for the makers and innovators, the craftsmen and the caregivers, and those doing the hard work to make the world a better place. Learn more at www.stanleyblackanddecker.com.
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,700 companies with a market cap of $22 Billion. www.techstars.com
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SOURCE Stanley Black & Decker