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Upward Labs is a startup lab and venture fund based in Hartford, Connecticut, that accelerates early-stage startups through structured programs and partnerships with enterprise companies. It focuses on sectors such as smart buildings, healthcare, and sustainability.
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Upward Labs is a Hartford, Connecticut-based startup lab and venture fund founded in 2018. It operates as a hybrid accelerator and venture capital firm, running structured 6-month cohort programs in physical labs located in downtown Hartford. The program is designed for early-stage startups to live, work, and pilot their products with enterprise partners, facilitating commercialization and growth.
The program initially focused on smart buildings and aged care, but has since expanded to include sectors such as real estate, insurance, and healthcare. Recently, Upward Labs has also embraced net zero and sustainability initiatives, selecting six net zero companies in a later cohort.
Upward Labs offers a structured program that includes physical lab space, access to enterprise partners, and support for product piloting and commercialization. The program connects startups with over 50 enterprise partners in various industries.
<p><strong>What are the eligibility criteria for Upward Labs?</strong></p><p>Startups must be early-stage companies focused on sectors such as smart buildings, healthcare, real estate, or insurance. They should be seeking to commercialize their products through partnerships with enterprise organizations.</p><p><strong>How does the application process work?</strong></p><p>Interested startups can apply through the Upward Labs website. The application typically requires a business plan, product details, and information about the founding team.</p><p><strong>What are the deal terms for participating startups?</strong></p><p>Upward Labs offers a $3.9 million investment to selected startups. Specific equity terms are not publicly disclosed.</p><p><strong>What is the program format?</strong></p><p>The program is hybrid, combining in-person activities in Hartford with virtual components. Startups engage in structured cohorts over 26 weeks.</p><p><strong>What makes Upward Labs different from other accelerators?</strong></p><p>Upward Labs emphasizes partnerships with Fortune 500 companies and provides access to physical lab space for product piloting, which is a unique aspect of their program.</p><p><strong>What are the success metrics for alumni?</strong></p><p>Alumni have collectively raised over $100 million in capital and completed more than 60 successful pilot programs, demonstrating the effectiveness of the accelerator in facilitating commercialization.</p>
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