Retrolux Joins Silicon Valley Entrepreneurial Program

Retrolux software helps companies figure out how much money they can save by switching to more efficient lighting.

Retrolux was invited to participate in a Silicon Valley-based entrepreneurial program.

Retrolux, a startup that develops software for the energy-efficient lighting industry using sensors and the Internet of Things (IoT), has been named to the Founder Friendly Labs Startup Accelerator summer program, based in Palo Alto.

“Retrolux is transforming the delivery of energy efficiency and IoT products in commercial and industrial buildings by connecting vendors and buyers in the first dedicated online marketplace for energy efficiency and IoT products,” the program said of the company.

The Startup Accelerator program includes one day in Palo Alto and connection to a community of startup founders and professionals, including veterans from Google, Apple, Facebook and Microsoft, a co-founder of Excite and a partner from Sequoia Capital, as well as alumni from Stanford University and the Massachusetts Institute of Technology.

More than 100 companies have been through the program, many of which went on to be acquired by larger companies.

Attendees join an online community with more than 200 program alumni. Consequently, unlike some other programs for entrepreneurs, the Founder Friendly Labs Startup Accelerator program is primarily focused on advice from the organization’s founders and the entrepreneurial peers, as opposed to funding. The program costs $5,900 and is intended primarily for entrepreneurs who already have experience and aren’t looking for equity funding.

“In each class session, we offer advice based on our own experience and our learnings from watching 100+ startups participate in FFL. For many of our startups, the most valuable advice comes from peers because we select members with deep experience,” Founder Friendly Labs noted on its website. “If fundraising support is your top priority, we recommend you consider other accelerators.”

The program does have some financial incentives, including thousands of dollars in credits with cloud software vendors such as Amazon Web Services and Google Cloud Platform, $1,200 in cash and fees waived with First Republic Bank, and free customer relationship management and other discounts on HubSpot Marketing and Sales Software.

“We’re most excited about getting connected to a broad base of experienced program alumni and current entrepreneurs, another connection into Silicon Valley and of course the cloud software credits,” said Leif Elgethun, Retrolux CEO.

Leif Elgethun, CEO of Retrolux

In addition, Retrolux participated in an entrepreneurial program with Venture Capital, a Salt Lake City-based nonprofit venture accelerator, including its Deal Forum, Pitch Coaching and Investors Choice Forum. Like Founder Friendly, Venture Capital also emphasizes peer mentoring. The program has 600 mentors who contribute 15,000 hours a year to teach entrepreneurs how to talk to investors.