New accelerator in Seattle: Artistic Destruction Lab to launch ‘deep tech’ startup hub with Microsoft, UW

Emer Dooley (left), a faculty fellow at the University of Washington’s Foster School of Business, helped set up a hub in Seattle for the Creative Destruction Lab. The program starts in November at the UW. (UW photo)

The news: Creative Destruction Lab (CDL), a nonprofit that operates nine startup accelerators worldwide, is coming to Seattle. In collaboration with Microsoft and the business, engineering and computer science schools at the University of Washington, a 9-month program for 20 to 25 companies will be held this November. The initial focus for the Accelerator will be on the burgeoning computer health sector, or the interface between healthcare and software, two strengths of Seattle’s technical ecosystem.

Why it matters: The Seattle area has a wide variety of accelerators and incubators, but CDL-Seattle is unique in many ways. No equity is required as the program is funded by founding members such as Microsoft and the UW. Object-oriented milestones and control points are also implemented. If a company does not meet certain standards, they are booted. There is also an educational component as UW students have the opportunity to “shadow” the program and learn from the participating startups.

How it came about: Last year, UW launched its first Innovation Roundtable to develop ideas and advance the university’s innovation strategies. Emer Dooley, an instructor at UW Business School, and Bill McAleer, General Manager at Voyager Capital, were part of a group tasked with finding an accelerator for the UW.

“This is really an opportunity to bring some of the leading areas of technology development in our region into an incubator that we believe has a proven track record in other cities,” said McAleer.

Computer health: Seattle has become a global hub for companies combining software like machine learning and AI with healthcare. Examples range from UW spinouts Parse Biosciences and PvP Biologics to larger public companies like Adaptive Biotechnologies and Accolade.

CDL-Seattle is designed to connect health and engineering professionals and also act as mentors to the region’s technology leaders. Dooley pointed to entrepreneurs like Sujal Patel, co-founder of Nautilus Biotechnology, and Raj Singh, CEO of Accolade, as technologists who previously floated software companies (Patel at Isilon Systems; Singh at Concur) and are now leaders in computer health .

“This is the route,” said Dooley. “CDL-Seattle will make it easier for traditional technicians to stick their toe in the water for this area where Seattle will really make a mark.”

The Foster School of Business at UW. (Your photo)

Latest innovation efforts at UW: CDL-Seattle will be based at the UW’s Foster School of Business. Any business owner can participate, not just those affiliated with the UW, although most companies are expected to be Washington-based.

“We’re literally going to be crawling around the halls getting postdocs and PhD students to become a part of it, to really understand how to take that first step [in starting a company]”Said Dooley.

We will literally be crawling through the halls trying to get postdocs and PhD students to become a part of it.The UW has been a key part of Seattle’s larger tech ecosystem, helping bring tech talent to local businesses and creating startups like Turi, a UW spinout that Apple acquired for $ 200 million in 2016 and has helped increase the tech giant’s presence in the US state region.

According to Dooley, CDL-Seattle complements UW’s other innovation-related efforts such as CoMotion, which helps UW-affiliates commercialize and is a founding partner of CDL-Seattle.

François Baneyx, who became Director of CoMotion in 2019, described CDL-Seattle as “the missing link in the UW innovation ecosystem and in our region”.

“It has the potential to transform and unify research and commercialization in computer health, and will help establish Seattle as a beacon for those areas – attracting talent to the region while expanding what we have here “he said in a statement.

In the past five years, CoMotion has founded 73 startups and raised $ 4.38 billion in capital through its spin-offs. The organization has faced a number of challenges in recent years, including layoffs, changes to MakerSpace and HQ, and the death of Vikram Jandhyala, UW’s former vice provost of innovation who took over CoMotion in 2014.

CDL background: Founded in 2012 at the University of Toronto, CDL typically works with universities to host its accelerators. The participating technology and science-based companies created more than $ 7 billion in equity.

“We are excited to partner with one of the world’s largest research institutions, the University of Washington, located in such a vibrant hub for global technology commercialization leaders – the Seattle area,” said Ajay Agrawal, founder of CDL, in an explanation.