This week, Art Center and Caltech launched a new startup accelerator for businesses will design at the core. Every year, they'll take in 15 startups run by students, alumni, or professors from either school, mentor the teams, and make seed investments. Happen to be affiliated with one of the schools? They're taking applications now for the first class. One of the companies chosen so far is Conscious Commuter, which makes the electric folding bike pictured above.