Startup founders aiming to disrupt the mobility industry are finding strategic support from a unique Accelerator Program designed to equip them for their entrepreneurial journey and prepare them for capital investment.

Michael Petersen, CEO and co-founder of ‘Raise a Hood’, is one such founder making waves in the industry. He’s one of 10 early-stage founders who participated in Capital One’s mobility-focused Accelerator Program this year, a partnership with The DEC Network. With the tagline “Diagnose. Fix. Done.,” Peterson says ‘Raise a Hood’ offers a free service that identifies vehicle issues, recommends the best fix, and connects users with repair shops that offer quality repairs at a fair value.

Peterson shares that Raise a Hood leverages AI technology and a team of skilled “telemechanics”— think telemedicine, but for cars.

He envisions a transformation in the automotive service industry, much like Uber did with taxis or Airbnb with hotels.

A seasoned engineer with a decade of experience at Ford Motor Co., Petersen founded Minnesota-based ‘Raise a Hood’ alongside AI/ML expert Dr. Patrick Nunally, who holds 175 patents, including one pending for GUS, the AI engine driving their platform.

“We want to disrupt the sector as a whole to make it work better for everybody,” Peterson said.

 ‘Jump starting the next generation of entrepreneurs and getting them capital-ready’

Capital One Accelerator 2024 pitch finalists and stakeholders at Dallas Startup Week. [Photo: Tres Cox/Capital One]

Since the mobility-focused, equity-free Capital One Accelerator Program began three years ago, it’s supported nearly 45 founders, including 10 additional entrepreneurs from the Builders + Backers Idea Accelerator program.

Entrepreneurs who have turned their ideas into tangible products apply for the Capital One Accelerator Program, where they participate in a 12-session “boot camp.” The sessions guide them through the critical stages of refining their business plans, preparing for the moment they’ll seek investment, and forging the connections to fuel their growth. Throughout the process, the entrepreneurs also learn to craft compelling pitches that effectively tell their stories to investors and potential partners.

In addition to mentoring and networking, participants can also leverage Capital One’s Pro Bono Growth Consulting program to tackle their business challenges.

The goal is clear: “to jump-start the next generation of entrepreneurs and get them capital-ready,” according to Kamlesh Talreja, Chief Technology Officer and SVP for Capital One Financial Services. Volunteers and industry experts contribute hundreds of hours to provide essential education and mentoring throughout the program.

The focus on fostering positive change through innovation is at the heart of the program. “We’re empowering them to dream big, take risks, and ultimately make a difference in the automobility industry and society as a whole,” Talreja emphasized.

2024 Capital One Accelerator Pitch Competition

The Accelerator Program culminates in a pitch presentation at Dallas Startup Week. Finalists present their business ideas to a panel of judges and vie for the opportunity to access almost $50,000 in funds, with the top two winners receiving $15,000 and $10,000. It’s also an opportunity to connect with potential investors.

The pitch presentations were judged by Talreja of Capital One, Kris Gaerlan, president of Dallas Lease Returns, and Melissa Youngblood, co-founder and partner at Venn Ventures, which invests in and advises early and growth stage tech startups.

“Every year, the quality of the pitches and the companies just keeps going up exponentially,” Talreja noted before announcing the winners. “This year, I was just blown away by the innovation and the potential for these ideas to impact our communities and the world.”

Talreja also acknowledged the vital contributions of industry experts, volunteers and the partnership with the DEC Network in making the program successful.

Combining AI and telemechanics to transform the car repair industry

Petersen, who took home first place and $15,000 for Raise a Hood, envisions a future when GUS is “a ubiquitous AI model” used by everyone from independent mechanics to OEM service centers, capturing a share of a market worth $150 billion.

Peterson said The Accelerator Program has been “instrumental” in focusing on “critical elements of early-stage startups, like financing and legalities to growth and go-to-market strategies.” He also valued the opportunity to connect with other founders in the mobility ecosystem to share challenges and solutions.

Raise A Hood [Photo: Tres Cox/Capital One]

With funds from his win, Peterson has plans for revenue generation in Phoenix, where Raise A Hood has already launched a pilot program with over 50 auto repair shops. “These proof points make the business more investable, an important step in the long journey of startup growth,” Peterson explained.

Leveraging computer vision to improve work zone safety

Joining Petersen as finalists were Adam Szablya of Metrolla, Charles Thuo of Apexloads Inc., Camilo Melnyk of Blimp, and Jake McFarland of Natrion Inc.

Szablya of Metrolla won second place and $10,000. He has pivoted from targeted data collection for autonomous vehicles to using computer vision to improve safety in work zones, city traffic, rail operations, and crowd analytics.

Metrolla uses a combination of computer vision, edge computing, and machine learning to enhance safety and situational awareness.

Throughout the 12-sessions during the Accelerator Program, Szablya explained the expert instruction that was provided was impactful and powerful. “As a technical founder, meeting sales mentors has helped me reframe my mind to how I tell my story to customers,” Szablya said.

In its initial phase, Metrolla, which is based in the Seattle area, helps keep road workers safe with a system that monitors traffic entering a work zone and alerts workers through a wearable device if a potential hazard approaches.

Metrolla [Photo: Tres Cox/Capital One]

Szablya plans to use the prize money to fund hardware infrastructure and data services, extending Metrolla’s runway by about a month.

However, he emphasized that more important than the money was the chance to pitch for their seed round and gain investor interest.

Rewarding program engagement

The award for “Most Engaged Founder” and $5,000 went to Johannes Luckemeier, founder of Glydsphere – Space Gravity LLC, which offers the world’s first engine sound system for electric vehicles. The system requires no installation or car modifications and is audible both inside and outside the vehicle. Users can select sounds from a growing library or create their own.

The runner-up for the “Most Engaged Founder” award and $3,000 was Karina Burns, founder of The Street Company, a public benefit company that offers software to help civil engineers design work zone traffic control plans in a fraction of the time typically required.

Driving impact

When reflecting on his journey through the program, Peterson summed it up: “Every obstacle is an opportunity to learn and grow—this journey is about more than just business; it’s about creating lasting impact.” The lessons learned and connections made during the Accelerator Program are set to influence not just the participants’ ventures but the future of the mobility industry as a whole.

Want to learn more about the Capital One Accelerator Program? Click here to join the 2025 interest list.

Capital One is a Dallas Innovates Platinum partner. “Capital One Accelerator Program Fuels Founders to Drive the Future of Mobility” was written and edited by Dallas Innovates’ brand studio. 

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