Stepwise, a Cambridge, Massachusetts-based startup company won the coveted first-place award and start-up grant in DRIVING 2043, an accelerator program for startup entrepreneurs focused on the electric vehicle and transportation industry. On Thursday, March 30th, five companies gathered in Providence for “pitch night” as finalists presenting to an audience of local investors, businesses, and a savvy team of judges.
Designed by Innovation Studio and AAA Northeast, the DRIVING 2043 program supports local entrepreneurs through a three-month education program. AAA Northeast executives mentored and offered insight to the startups from the perspective of a large-scale organization that serves as a leader in environmental, social and governance strategies.
Stepwise developed a device that allows homeowners to install an EV charger at a reduced price point by using software to get around the need for electrical upgrades. “It means a lot for an early-stage startup like Stepwise to get the support and confidence of a larger organization like AAA,” said Jane Chen, co-founder of Stepwise. “We are excited to partner with AAA and its affiliates over the long run, in support of an electrified vehicle future. This grant will enable us to complete our brand revamp and to start deploying our consumer marketing campaign to educate homeowners on the “hidden” costs of electrification.”
Based on their impressive business models and unique technologies, the five finalists included:
- Florrent: an ultracapacitor manufacturer delivering dense and efficient electric power
- MoveEV: an intelligence software helping employers and municipalities decarbonize
- Pointz: a crowdsourced data platform and mapping tool to help cyclists plan safe routes
- SensoDrive: a marketplace for commercial buildings to monetize EV charging
- Stepwise: a hardware product that optimizes a building’s electricity for EV charging
“As the electric vehicle industry continues to grow in the U.S., AAA will continue to engage and learn from all five startup finalists,” said Randy Delgado, AAA Northeast’s Vice President of Strategy & Innovation.
“DRIVING 2043 program demonstrates that collaborations between corporate and startup partners are fundamental in driving innovation successfully. By working together with AAA Northeast, we were able to help five startups strengthen their businesses and make a real impact in the electric vehicle industry. We are honored to have AAA Northeast as a program partner, and we want to congratulate the five startups for their impressive accomplishments,” said Walther Morales, Director of Entrepreneurship Programs at Innovation Studio.
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About AAA Northeast
AAA Northeast is a not-for-profit auto club with 71 offices in Rhode Island, Massachusetts, Connecticut, New Jersey, New Hampshire, and New York, providing more than 6 million local AAA members with travel, insurance, finance, and auto-related services.
About Innovation Studio
Innovation Studio, an inclusive 501(c)(3) non-profit headquartered in Roxbury, MA. Innovation Studio strives to be the home where aspiring individuals are encouraged to grow their ideas into successful businesses. Innovation Studio does this by making innovation, entrepreneurship, and business ownership attainable through an empowering and inclusive network of community spaces and individualized pathways. Innovation Studio manages Roxbury Innovation Center, District Hall in Seaport Boston, and Biz Bodega Small Business Support Center in Providence.