Energy monitoring company
Aquicore will move into enterprise accelerator
Acceleprise Jan. 14, a move that should give the buzzed-about startup another boost.
The move to the enterprise technology accelerator pairs Aquicore with mentors, venture capitalists, and a host of benefits including $30,000 in funds, $60,000 in technology from Microsoft and $25,000 in deferred legal fees from Goodwin & Proctor, LLP.
"Acceleprise is unique," Soya says. "I'm very excited to see what happens with Aquicore in 2013."
Aquicore's product monitors the energy used by a building and provides the data to property owners and building managers so they can find ways to save energy and money. Logan Soya, founder and CEO of Aquicore, says his company fills a niche, monitoring mid-sized buildings that are too big for some monitoring services, but too small to afford contracts with large providers.
"We’re very different," Soya says. "We install hardware that provides a granular analysis. The hardware communicates with the building itself. Our market is really for buildings in the 5,000–200,000 square foot range: those whose energy diagnostic needs are too complicated for just software and who cannot afford contracts with the large companies."
Aquicore is part of the Green Button Initiative, launched in September 2011 by the
White House. Green Button is a push to make data about energy usage in private and public enclosed spaces readily and publicly available. The initiative has launched a wave of innovation, as companies work to create the software and hardware that will provide the data analyses requested by Green Button.
Soya credits the community he has been a part of at Georgetown University, where he pursued his MBA, along with investors and half a dozen mentors as being key to Aquicore’s success so far. It must be working: the company won $10,000 and second place at October's Distilled Intelligence 2.0 pitch competition.
As with any startup, the next step will be securing working capital. "We’re pretty 'bootstrap' at this point," he says.