SAN FRANCISCO--(BUSINESS WIRE)--Propel(x), an online angel investment platform that helps investors source, evaluate, and fund pioneering science and technology startups, today announced the formation of the Propel(x) Industry Council, a group of industry thought leaders and influencers who will provide support and guidance for early and growth-stage science and technology startups. Members of the Industry Council include: ARM Holdings, Bio-Rad Laboratories, Robert Bosch LLC, Chevron Technology Ventures, Schneider Electric, Simcere Pharmaceuticals and Merck Ventures BV, Amsterdam, The Netherlands, a subsidiary of Merck KGaA, Darmstadt, Germany (known as M Ventures in the United States).
“Despite all the talk about the need for innovation, today less than .01% of the $53 Trillion in assets under management goes to early stage science and technology based companies. By connecting science and technology startups to investors and industry, we are out to change this equation,” said Swati Chaturvedi, founder and CEO of Propel(x). “Our goal with the launch of Propel(x)’s Industry Council is to accelerate commercialization of innovation in these fields. We are teaming up with industry leaders to galvanize support for the most promising science and technology startups that have tremendous potential to be great businesses and benefit society. I welcome our industry council members and look forward to achieving great things together.”
"We are very excited to have a diverse first group of global technology leaders, not only from various industries, but also from different continents, join our Industry Council," said Lisheng Wang, Co-founder of Propel(x). “Given the nature of our startups, connecting them with global industry leaders in their respective fields will help them gain early industry validation as well as global market perspectives. This creates a win-win situation since most leading technology corporates are also looking for cutting edge innovations in the relevant space."
Industry thought leaders are a crucial part of driving innovation and supporting emerging startups and access to established players is often essential to success. The Propel(x) Industry Council will connect startups fundraising on the Propel(x) platform to well-established companies, who will in turn offer support ranging from mentorship and networking opportunities to developing customer relationships, accelerating product commercialization and distribution, and exploring potential investment opportunities.
“Having witnessed several impressive milestones achieved by Propel(x) in such a short window of time, we were highly motivated to join the Propel(x) Industry Council and see how we can contribute,” said Jeff Yu of Robert Bosch LLC. “We believe our strategic partnership will further the Propel(x) mission, and we look forward to the new possibilities in store for the startups on the platform.”
“We invest in transformational ideas and support ambitious entrepreneurs with our infrastructure of a leading science and technology company,” said Edward Kliphuis, Investment Director New Businesses at M Ventures. “We are very excited about partnering with Propel(x) to support the startups on the platform, to further innovation and ultimately to positively impact people’s lives.”
“We commend Propel(x) on their novel approach to help find innovative solutions for deep technology companies like Schneider Electric,” said Paul Campbell, VP Innovation of Schneider Electric. “We are pleased to join the Propel(x) Industry council and look forward to the impact we’ll see from the world-changing companies on the Propel(x) platform.”
Through the Propel(x) Industry Council, members are able to stay abreast of the latest innovations in their industry and source new strategic and financial investment opportunities. Members also have the opportunity to mentor promising startups and play a crucial role in bringing new ideas from concept to commercialization. For more information, please visit: https://www.propelx.com/industry_council.
Propel(x) Inc. is an online investment platform that connects science and technology startups with angel investors in order to unleash huge innovations, grow great businesses, and have an impact on the way people live. Founded in 2013 by CEO, Swati Chaturvedi and Lisheng Wang, Propel(x) introduces its members to ground-breaking startups that are developing new forms of clean energy, life-saving drugs, new methods of space exploration, and innovative new materials amongst others. By facilitating private funding for startups based on scientific and technological breakthroughs, Propel(x) seeks to change the world and build the next generation of great companies. For more information, please visit: www.propelx.com.