LumiShield selected to present at University Startups Demo Day
Carnegie Mellon’s spinoff company, LumiShield, has been selected as one of the top university startups to be presented at the University Startups Demo Day.
The National Council of Entrepreneurial Tech Transfer (NCET2) will hold its first University Startups Demo Day (USDD) this year in Washington, D.C. on Sept. 20. USDD offers an extraordinary opportunity for corporate innovation and venture capital groups to display their competitiveness with breakthrough startups. Not only could 200 startups be eligible for final submission, but all enterprises have to be affiliated with a university. Some additional companies have sprouted from University of Pittsburgh, Berkeley, and Case Western. This year, USDD will be showcasing 35 of the most prestigious university startups in technology, and LumiShield is among these select few.
LumiShield aims to “revolutionize the metal plating industry by creating anti-corrosion products that are cost-effective and environmentally responsible,” according to the company’s website. Metal corrosion cost the U.S. economy nearly $276 billion last year, and existing anti-corrosion technologies, cadmium, and chromium coatings, have markets valued at $3 billion and $16 billion annually.
The company has targeted these costs by developing aluminum electroplating technologies that are less harmful and more affordable than current coating options on the market. The electroplated aluminum shield developed by LumiShield creates a self-healing aluminum oxide layer when in contact with the air. This allows greater flexibility in operation and excludes major capital equipment installations.
Not only was LumiShield selected from a competitive pool of groundbreaking ideas, it has also been named as one of the best university startups of 2016.
In an email to The Tartan, LumiShield’s CEO and co-founder David Luebke says USDD will be “a great opportunity to meet people and get exposure.”
The Startup Officer from Carnegie Mellon, Reed McManigle, oversaw the collaboration and completion of the project and brought it to national attention. McManigle is the current senior manager for the Center for Technology Transfer and Enterprise Creation at Carnegie Mellon. The Center is responsible for facilitating and accelerating the movement of research and technology out of the university and into the marketplace.
According to the company's website, NCET2’s Selection Committee, “comprised of corporates, angels, and VCs,” evaluates the startups based on corporate interest and venture metrics. NCET2 aims to merge innovation and entrepreneurship by bringing together Fortune/Global 1000 companies, venture capitalists, economic development organizations, state and federal agencies, universities, and entrepreneurs.
NCET2’s executive director, Tony Stanco, believes that the United States “must have a sustained commitment to education, scientific research, and startups.” Though Americans have pioneered in education and research, little attention has been drawn to the revolutionary work of inventive startups and their accompanying, trailblazing university collaboration.
“Thanks to the support from Carnegie Mellon and the National Energy Technology Laboratory, LumiShield technology is poised to make a positive impact in a variety of industries,” said Luebke in a university press release.