Embody

February 25, 2021

DARPA Launches Entrepreneurial Initiative

By Jeff Conroy | Tags: DARPA, Funding

Over the past two years, DARPA’s Embedded Entrepreneurship Initiative (EEI) pilot program helped 30 pre-seed research teams raise over $100 million in U.S. investment, spin out a dozen new companies, establish numerous joint development agreements with corporate partners, and commission multiple manufacturing facilities. Today, DARPA is launching an expansion of EEI with the goal of accelerating 150 DARPA-backed technologies out of the lab and into products that promise to fundamentally change the way we live, work, and fight. The initiative augments technical research teams with critical entrepreneurial expertise, top-tier commercialization mentors, and provides connections to investors. This important work delivers an effective counter to aggressive foreign investors by building stronger companies that have the ability to attract U.S. capital.

“DARPA-funded scientists produce technologies that have the potential to upend existing markets, establish military advantage, and create lasting societal change. Too often these innovations struggle to gain traction because research teams lack a full understanding of complex market dynamics,” said Kacy Gerst, DARPA’s chief of commercial strategy. “DARPA’s Embedded Entrepreneurship Initiative fills these knowledge gaps by augmenting scientific research teams with critical business expertise.”

“Embody’s EEI program participation was transformational, allowing us access to market data, business forecast modeling and our first commercial hire. This was critical to accelerate our evolution into a commercial stage company. The EEI Program is a valuable extension of DARPA’s mandate to create disruptive market-focused companies,” said Jeff Conroy, CEO of Embody, a startup whose technology was funded by DARPA and is pioneering next generation regenerative medical devices for the repair of tendon and ligament injuries.

Read the full article at http://bit.ly/DARPAEEI