In another step along the growth journey made possible by a 2023 windfall of state and federal funding, Traverse City tech incubator 20Fathoms announced Monday that it is bringing aboard an “entrepreneur in residence” for the first time ever. Startup veteran Peter Scott will step into that role to help local entrepreneurs start new companies, “with a special focus on supporting the growth of the local blue tech economy.”

Scott holds a bachelor’s degree in mechanical engineering and aerospace engineering from the University of Michigan, a master’s degree in aerospace engineering from the University of Cincinnati, and an MBA, also from U of M. He has co-founded multiple companies, including Power 3D, a startup working on a process for the 3D printing of lithium-ion batteries; Grasp Robotics, which develops stronger artificial muscles for robotic prosthetic hands; and CellDrop Biosciences, which seeks to revolutionize healing solutions in healthcare through the use of stem cell therapy.

Beyond his own companies, Scott’s experience “includes advising 25+ technology startups in strategy, marketing/sales, and finance, securing commitments of $14 million in investment,” according to a 20Fathoms press release. He has worked across a broad range of sectors, including renewable energy, medical devices, and consumer products. Scott also travels the country and the world giving lectures on entrepreneurship and innovation, including a recent entrepreneur in residence stint at the University of Wyoming. Notably, CellDrop Biosciences was a spinout from U of W.

“I really look forward to working with the talented founders from the Grand Traverse region,” Scott said in the press release. “Having taught entrepreneurship to 1,200+ students over the years, I am particularly excited to be working with smart, motivated students who want to launch startups in northern Michigan.”

Scott's focus on blue tech is motivated by Traverse City's forthcoming new Freshwater Research & Innovation Center, a project in which 20Fathoms is a partner. While that facility won't come online until 2027, stakeholders are already looking for companies that could become future tenants.