HARTFORD, Conn., Dec. 5, 2017 — Stanley Black & Decker (NYSE: SWK) and Techstars, one of the world’s best startup accelerators, today announced the formation of a three-year partnership and the launch of the STANLEY+Techstars Additive Manufacturing Accelerator in Hartford. This mentorship-driven, entrepreneurial accelerator program will select 10 startups in the additive manufacturing space to participate in its first year. Applications will open in January 2018, and the program will run in the third quarter of 2018. Similar programs will be run in 2019 and 2020, with 30 potential startups completing the process.
Startups will co-locate with Stanley Black & Decker’s new Advanced Manufacturing Center of Excellence – Manufactory 4.0 – in Hartford, CT, and have access to mentoring and resources to grow their ideas into viable businesses and bring new technologies to market.
“Additive manufacturing is a field that is constantly evolving and will significantly change the manufacturing environment of the future,” said Corbin Walburger, Vice President of Business Development for Stanley Black & Decker. “The STANLEY+Techstars Additive Manufacturing Accelerator demonstrates our commitment to this emerging industry, and shows our intent to stay at the forefront of technological change and incorporate innovative and disruptive technologies into our business model.”
Stanley Black & Decker currently operates more than 100 manufacturing facilities globally, including approximately 30 in the U.S. and three in Connecticut. Three of the company’s locations are designated as “Lighthouse Factories,” plants that have partially implemented Industry 4.0 across their facilities from manufacturing execution systems (MES), to 3-D printing, virtual reality, robotics and artificial intelligence.
“We are thrilled to be bringing our successful accelerator model to Hartford,” said David Brown, co-CEO and co-founder of Techstars. “Hartford is thriving with early-stage startups ranging from companies focused on science, technology and software solutions to B2B and small business services. Connecticut was at the heart of the first three Industrial Revolutions and has continued to have a strong manufacturing presence, which makes it a great location for an accelerator focused on the Fourth Industrial Revolution and additive manufacturing, in particular.”
To apply to participate, visit https://www.techstars.com/programs/ beginning in January 2018.
About Stanley Black & Decker
Stanley Black & Decker, an S&P 500 and FORTUNE 500 company, is the world’s leading provider of tools and storage, the world’s second-largest commercial electronic security company, and a leading engineered fastening systems provider, with unique growth platforms in the Oil & Gas and Infrastructure industries. Well-known brands include: STANLEY, BLACK+DECKER, DEWALT, Porter-Cable, Bostitch, Facom, Mac Tools, Proto, Vidmar, Lista, and more. Learn more at www.stanleyblackanddecker.com.
Techstars helps entrepreneurs succeed. Techstars partners with over 300 new businesses each year to provide them with the resources, network and knowledge needed to successfully grow their business. A global network in more than 150 countries, Techstars has 300,000 alumni and more than 10,000 mentors. Of the 1100 startups that have been through the Techstars program, 90% are either still active or have been acquired. Techstars was named one of the world’s best startup accelerators by Entreprenuer Magazine. Techstars accelerator portfolio includes more than 1,000 companies with a market cap of $8.1 billion. www.techstars.com