FedTech launches the xTechSearch 5 Accelerator for deep technology companies engaging the U.S. Army

Arlington, VA. May 4, 2021- FedTech, a national leader in building breakthrough technology ventures at the intersection of federal technologies & U.S. entrepreneurship, will launch the Army’s xTechSearch 5 Accelerator for the U.S. Army. This Accelerator will rapidly transition 10 innovative technologies from across the U.S. and feature high-profile mentors from all corners of the U.S. advanced technology development ecosystem. The xTech 5 Accelerator ramps up the xTechSearch finalists in order to prepare their technologies for transition to the warfighter, while also entering their technology into other commercialization pipelines.

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The xTech 5 Accelerator, powered by FedTech, will consist of 10 finalist companies from the xTechSearch competition. The xTechSearch prize competition, known as “The Original Army Technology Innovation Competition” is a biannual $2 million prize pool sponsored by the Assistant Secretary of the Army for Acquisition, Logistics, and Technology (ASA(ALT)), targeting small businesses and nontraditional companies to uncover novel dual-use science and technology solutions. FedTech designs, builds, and runs a 6-month custom accelerator for xTechSearch finalists. Through the Accelerator, finalists receive custom educational experiences, diverse mentorship, and high-touch consulting by FedTech experts on business tactics and strategic messaging for breakthrough technology startups. Since the launch of the program, the portfolio companies have won over $14.4 million in Department of Defense (DoD) contracts and applied to over $48.2 million in contracts.

These 10 finalists will receive access to 30+ custom educational experiences built around the Army as a partner, diverse mentorship hand-picked by the Accelerator leadership, invite-only exposure events to the greater U.S. ecosystem surrounding DoD-focused startups, and high-touch consulting by FedTech experts on business tactics and strategic messaging.

“'The xTech 5 Accelerator represents our novel approach to growing an incredibly diverse set of deep tech small businesses in the U.S. - within this cohort, we're working with companies ranging from two to 75 employees in size, and across technology verticals such as biotech, quantum, artificial intelligence (AI), human-machine-interfacing, and communications.'” shares Will Dickson, Director at FedTech and the Accelerators Program Lead. “The xTech 5 Accelerator showcases a powerful story of one of the largest organizations on the planet, the U.S. Army, pivoting to adapt to modern technology development trends.”