NSF SBIR Phase I Award

Momentum Optics was selected to participate in the Innovation Corps (I-Corps TM ) short course Beat-the-Odds Boot Camp program through NASA SBIR/STTR program. This course will further their SBIR Phase I efforts in developing repeatable and scalable technology by developing their Business Model Canvas and validating their business hypothesis through Customer Development interviews. The I-Corps program was originally developed by the National Science Foundation (NSF) and has been leveraged by the NASA SBIR/STTR program to create their own version of the Lean Launchpad I-Corps process. For more information on this program, visit https://sbir.nasa.gov/content/I-Corps

Momentum Optics was awarded the NASA Small Business Innovation Research (SBIR) Phase I grant for the technical merit and commercial potential of their innovative optical manufacturing technology. NASA believes small businesses are critical to their mission. Momentum Optics’ selection for the SBIR award is a demonstration of confidence that the technology they are developing will help the agency further innovation in human exploration, space technology, science, and aeronautics. This year, America’s Seed Fund financed by NASA will provide $45 million in funding to companies that have demonstrated innovative technology with significant potential for commercialization. Upon completion of the 6-month program through the (SBIR) Phase I program, companies will have the opportunity to apply for Phase II and receive up to $750,000 in non-diluted funds and post-Phase II awardees could receive additional funding up to $3 million. Upon completion of either the Phase I or Phase II programs, outside agencies may opt to contract companies for a Phase III effort for commercialization of the technology. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. For more information, visit sbir.gsfc.nasa.gov.

Momentum Optics was selected to participate in the world’s largest accelerator for startups with optics, photonics, and imaging (OPI) enabled applications. Ten Finalists were selected to participate in Cohort 4 of the Luminate NY accelerator program and competition. Companies were selected from a pool of 126 startup applicants from around the world. Upon completion of the 6-month program, companies will have the chance to compete for up to $2 million in follow-on funding. Throughout the 6-month program companies will take part in weekly workshops to grow their business and will have access to lab facilities in Rochester, NY to collaborate and further their technology development. In addition, each company will be mentored by industry leaders and introduced to investors. The Luminate program is designed to help early-stage startups gain a competitive advantage and speed innovation and time to market. Luminate NY Managing Director Sujatha Ramanujan said, “The companies selected have the potential to truly disrupt their categories. With access to our renowned regional resources, mentors, and investor network, we’ll help them speed the commercialization of their offerings so that they can have a meaningful impact on our world and on our regional community.” For more information on the startup accelerator program, visit luminate.org.

Momentum Optics, a Longmont-based startup leveraging semiconductor processing techniques to develop an innovative manufacturing technology capable of producing optical components about 10X less expensively and 5-10X faster than traditional methods, was awarded a $250,000 grant as part of the Colorado Advanced Industries Grant program. Colorados’ Office of Economic Development and International Trade (OEDIT) made the announcement on May 21, 2020. “We're honored to be among a select group of startup companies chosen for this award,” said Jeremy Goeckeritz, founder and CEO of Momentum Optics. “The award will enable us to move our technology forward and prepare to enter the market; it also represents a vote of confidence by the review committee and the state of Colorado. The award will not only help with typical startup capital needs, but also opens the door to future investors and capital, which is particularly important now as we embark on an investment round. We look forward to entering the market and generating a positive economic return for the state of Colorado.” Momentum Optics is solving the problem of long lead-times for custom optical lenses, a pain point for many companies as they seek a first-to-market advantage in an effort to capture early market share and create brand awareness. https://choosecolorado.com/7-3-million-advanced-industries-awards-fuel-27-colorado-start-ups/

The University of Northern Colorado Monfort Entrepreneur Challenge attracts top startups in Colorado and brings them together to compete for cash prizes. This year, Momentum Optics beat out a stellar group of startups to take home the first place $25,000 prize. Momentum Optics' CEO, Jeremy Goeckeritz, delivered the winning pitch. "I'm amazed at the group of startups here," Jeremy reflected. "Obviously the 1st place award is going to be incredibly helpful as we continue to develop and move toward releasing our first product." This year's competition was the 11th annual event. Teams pitched to eight judges over two days of competition. Judges also evaluated teams based on written applications. The UNC competition is unique in that it places an emphasis on education and requires teams to revise their pitches based on judges' comments from the first round of competition. https://mcb.unco.edu/e-challenge/

The SPIE Startup Challenge is a high-stakes, global competition where entrepreneurs with light-enabled products have five minutes to pitch their businesses to a team of expert judges and vie for over $85,000 in cash, prizes, and promotion. The challenge took place at the Moscone Center in San Francisco during the Photonics West research conference and tradeshow - one of the world's largest with over 20,000 attendees. This year, the Startup Challenge featured a pre-seed and seed track within the overall Deep Tech track. Momentum Optics took first place among all pre-seed teams and third place overall. The competition was an excellent opportunity to develop business strategies and receive feedback from industry leaders. https://spie.org/industry-resources/industry-events/spie-startup-challenge/2020-semi-finalists

Momentum Optics competed in its first pitch competition, an EforAll event held at CoSolve in downtown Longmont. We had a great night taking home the community's choice award for Best Table and the 2nd place prize for our pitch. The table award was based on voting from the Longmont community. Stephanie Bourdon represented Momentum Optics in the pitch competition.

It's the beginning of Autumn here along the front range and for the next few months Momentum Optics will join a select group of companies working with SAGE, an advisory program for tech startups. We were fortunate enough to have five highly successful business and technologist join our advisory team. We will be working on product development, market research, financial projectionist and pitch presentations.