Drexel University has selected three university-related startups to receive support from the second group of Innovation Funds. AER Cosmetics, a sustainable cosmetics brand founded by Drexel students, and 1DNano, a nanomaterials cleantech company. MXene, Inc. is a company focused on commercializing nanomaterials called MXene. Each will receive a $150,000 investment from the fund.
1DNano is a hydroxide-derived nanostructure (HDN), a one-dimensional nanofilament discovered in 2021 by Dr. Michel Barsoum, Distinguished Professor of Engineering, and Dr. Hussein Badr, Postdoctoral Researcher in the Layered Solids Group. ) is commercialized. Department of Materials Science and Engineering, Faculty of Engineering. 1DNano aims to use HDN to significantly reduce the cost of green hydrogen.
MXene, Inc. is working to become a leading supplier of MXenes, a 2D nanomaterial discovered in 2011 by two groups of Drexel researchers. The group is led by Dr. Barsoum of the distinguished university and Dr. Yury Gogotsi, Bach Professor of Engineering. MXenes are a class of two-dimensional inorganic compounds composed of atomically thin layers of transition metal carbides, nitrides, or carbonitrides. The versatility in composition, geometry, surface chemistry, and tunability creates potential benefits for a wide range of applications including energy, electronics, optics, catalysis, biomedical, and environmental fields.
Founded by alumna Paige DeAngelo, AER Cosmetics has developed a patent-pending eco-friendly cosmetic tool: the Dissolving Mascara Tablet. Dissolving Mascara Tablets are refillable mascara formulas that reduce carbon emissions from mascara waste and provide lengthening and conditioning lashes. AER has won awards in multiple startup competitions, including Drexel Startups Fund, GSEA Philadelphia, GSEA National, and Draper Competition.
Established in 2023, the Drexel University Innovation Fund invests in early-stage Drexel student- and graduate-student-led startups and startups created to commercialize the fruits of scientific research developed at Drexel. I am. The fund aims to serve as a “friends and family” investor, encouraging Drexel’s problem solvers to dream big and tackle society’s most pressing challenges. The fund is an evergreen fund with all proceeds reinvested through the fund into future Drexel startups.
“The Innovation Fund plays an important role in Drexel’s innovation and entrepreneurship ecosystem. We wish them well on their journey to making this a better place,” said Shintaro Kaido, Lieutenant Governor for Innovation and Executive Director of Drexel Applied Innovation. “We are grateful to the Investment Advisory Committee for providing valuable insight into the finalist startup companies. We are also grateful to the Drexel students taking the ENTP T380 course for assisting the Investment Advisory Committee. We would also like to thank the faculty at the Charles D. Close School for mentoring our students.” The application period for the next investment cycle will open in June 2024.
For more information about the Drexel University Innovation Fund, visit drexel.edu/applied-innovation/funding/innovation-fund or contact applied_innovation@drexel.edu.
