An electronics company founded by four University of Notre Dame students has landed an Elevate Ventures High Potential Startup Grant. RESONADO, which is developing new speaker technology that the company says is higher-quality and more cost-efficient than current models, is based at Notre Dame’s IDEA Center.
RESONADO says its design enables speakers to be lighter, thinner and produce higher-quality sound through its patented "Flat Magnetic Speaker Technology." The company is working on launching its first product, the Mini-O; a credit card-sized Bluetooth speaker.
The Elevate Ventures grants are designed to help entrepreneurs overcome financial hurdles on the way to a specific milestone. The pre-seed program awards up to $25,000 to high-potential startups. RESONADO says the grant helped it connect with numerous experts in multiple fields for guidance on its way to launch.
The startup also held a Kickstarter campaign, which raised more than $15,000. The company hopes to begin raising Series-A funding in the third quarter of this year. RESONADO will take part in next week’s Investor Connect: An Investor Networking Opportunity in South Bend.