The Milwaukee chapter of the gener8tor accelerator network has announced its latest cohort of startups, each of which will receive a $100,000 investment.
Along with those funds, each selected startup will join a 12-week business development program, which includes one-on-one coaching and mentorship along with various other perks. In a release, gener8tor also highlights its network of investors as a valuable asset for participants.
The five startups were chosen from more than 420 applicants around the world, the release shows. Molly Dill, gener8tor Milwaukee’s managing director, stresses the competitive nature of this process.
“These startups impressed us with their well-rounded teams, revenue traction, market opportunity and scalability,” she said in a statement. “This program not only supports these five companies, but also brings opportunity and economic development to the entire Milwaukee business community.”
Cohort members include:
*A company called eCourtReporters, based in Burlington. It provides an online scheduling service for law firms, government entities and court-reporting agencies, and currently has users in all 50 states. The startup says it brings in about $10,000 in revenue each month.
*Optikal, which has a contact lens subscription service and employee benefit program that reduces the cost of vision care through payroll deductions. With about 130 active customers, the startup currently generates $5,000 in monthly recurring revenue. It’s based in Georgia, according to Pitchbook.
*Traduality, a Delaware company with a freelance translator marketplace that says it offers services in any language. The business has helped 163 customers connect with 116 translators, and reports about $9,000 in average monthly revenue.
*Tutorly.ai, which has an artificial intelligence program to help students with their homework. The California business currently has 30,000 users, 1,500 paid subscribers and reports $9,000 in monthly recurring revenue.
*UPI Study, which provides online college courses to international students at a discounted price, as well as mentorship services. With more than 86,000 registered users, the Canadian startup reports $450,000 in total revenue.
The founders of these companies in September will pitch to an audience of their peers, members of the public and potential investors at an event in Milwaukee.
