Are you a high-tech startup & past the idea stage?
Then you have four more days to apply for Cincinnati’s high-tech OCEAN Accelerator, which will launch its fifth cohort in January 2019.
The accelerator program runs January through May. Ten companies will be selected, each of which will receive $50K in seed money in the form of a convertible note.
But the accelerator doesn’t just focus on your product — it also emphasizes your mission, OCEAN CEO Scott Weiss said.
“We’re one of the only accelerators in the world to focus on the founder,” he said. “It’s a holistic accelerator.”
OCEAN is a faith-backed accelerator — an organization “where faith and entrepreneurship intersect,” states its website.
The accelerator is open to everyone, and the entrepreneurs accepted into the program will have challenging conversations about their core missions, Weiss said. The accelerator curriculum also focuses on investor readiness, value proposition design, and revenue assumptions.
Founders must move to Cincinnati for the duration of the accelerator program. On average, between 150 & 200 founders apply each year. Of the 40 companies selected for the last four years of cohorts, about one third have been international, one third have been from the Cincinnati region, and another third have been from elsewhere in the US, including Georgia, New York, California & Washington, D.C.
Founders aren’t required to remain in Cincinnati after the accelerator is finished, but usually about two thirds do, citing lower cost of living and support in the community, Weiss said.
Additionally, about 60 percent of OCEAN accelerator alumni successfully raise money after the program — the average raise is $700K.
The OCEAN accelerator organizers prefer B2B startups that are post-MVP, in order to move the products faster, Weiss said.
In 2016 & 2017, the OCEAN accelerator demo day saw the largest demo day audiences in the world, he added.
No Dayton companies have accepted an offer to participate in the accelerator — yet.
“OCEAN exists to equip entrepreneurs to bravely step out and change the world,” Weiss said. “If you want training, go elsewhere. If you want to be equipped, you, your heart, your mission, and you want community around you to help you step out, then come here.”
Are you a startup looking to fill a tech gap or test out your product?
Then next week’s Bench-to-Business Showcase, hosted by the Wright Brother’s Institute & the Air Force Research Laboratory’s 711th Human Performance Wing, is for you.
WBI & AFRL are hosting the free event at 444 E 2nd. St, Dayton, from 8:30a to 3p. The goal is to show ways local companies can partner & collaborate with the Air Force outside of traditional contracts, WBI Graphic Innovation Lead Jennie Hempstead said. These opportunities might include licensing or research agreements, or partnerships to share testing resources, often at no cost to the small business.
The Air Force can’t make their own equipment, they have to purchase it, so they want to see the research and tech coming out of their labs commercialized into products they can purchase and use, Jennie explained.
The Bench-to-Business event will showcase tech in different phases of the Air Force’s Technology Transfer & Transition (T3) process. Attendees will meet and be able to chat with scientists, engineers and legal experts. There will also be resources available on how people can jump into this T3 process, Jennie said.
The 711th Human Performance Wing is dedicated to helping pilots be their best, so the event will also be a great networking opportunity for area startups working in healthcare, human performance, health & wellness, or fitness, Jennie said.
GlobalFlyte, a startup that developed a superior incident response platform by licensing two Air Force Research Lab technologies, shows what can be accomplished through this T3 tech transfer process. Systems engineering form SPGlobal, Inc. licensed the technologies & invested $1.5 million in the startup. The collaboration brought $640K back to AFRL, and SPGlobal projects the startup will have a $100 million valuation by 2023.
To attend this free showcase, register here.
Dayton’s own Charlynda Scales & her company, Mutt’s Sauce, are expanding into Kroger stores across southwest Ohio.
Mutt’s Sauce was previously a part of Kroger’s Buy Local program, in which local products are highlighted on a single designated shelf in the aisle, Charlynda said. The local program is store-by-store, so Charlynda pitched individual managers to sell Mutt’s Sauce at each location.
The new “corporate planogram” Kroger account was the payoff to two years of work, she said. Charlynda estimates that all four flavors of Mutt’s Sauce will appear on the shelves of about 60 stores in the Dayton & Cincinnati areas by May 2019.
“It’s exciting, and definitely a testament to my team,” she said. “I’m happy to be able to finally provide a lot of locations for people to pick up their favorite sauce.”
Charlynda will be ramping up production and marketing to ensure customers are aware of the new locations. She’ll also be launching an online cooking show — Cooking with Mutt’s Sauce — on YouTube within the next month to help customers learn how to cook with “the sauce for every meal.”
Her advice for other food businesses? Put in the work where you are.
“People notice when you’re working hard to grow your company,” Charlynda said. “You try and try and try, and suddenly you get the email.”
The veteran entrepreneur was stationed at Wright Patterson Air Force Base when she received her late grandfather’s secret sauce recipe in 2013. Charlie “Mutt” Ferrell Jr., namesake of Charlynda’s company, was also a veteran, serving in the Korean & Vietnam wars.
Charlynda launched Mutt’s Sauce after connecting with a mentor through the Dayton chapter of SCORE, a nonprofit organization that provides free services to small business owners and entrepreneurs.
In the next couple weeks, Charlynda is taking another step to pay out forward — she’ll be sharing what she has learned about building and growing a food business through two free workshops at Spark Fairborn. Check out “How to Grow a Food Business from Scratch” Monday, Oct. 29 or Monday, Nov. 5. Learn more here.
Dayton Startup Marxent is teaming with national retail powerhouse Macy’s to roll out virtual reality installations in 90 stores by early next year.
The VR rollout is the largest of its kind in retail history, Marxent cofounder & CEO Beck Besecker said.
The VR tech, developed right here in Dayton, utilizes an iPad & a headset. Customers plot the dimensions of their own living space on the iPad — then they put on the headset to “step into” their room, where they can drop the virtual piece of furniture they’re considering. Via the headset, they can walk around the furniture, see what piece fits best, what colors look best in their home.
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The tech is rolling out in 70 stores this fall, with another 20 stores on deck for January 2019.
Beck & his brother, Barry, founded Marxent in 2011 with a vision to pair virtual reality with retail — but they were “way too early to market,” Beck said. They shifted their focus, spinning out Magnetic Mobile, which develops and runs loyalty rewards platforms & programs.
Their big break came in 2016. They ran a pilot program in Macy’s stores in Miami, FL, New Jersey and New York for about six months, Beck said.
During the pilot, furniture sales increased 60 percent when customers utilized the VR platform, according to a press release. Returns among those customers also decreased to less than 2 percent.
“People come into the store, trying to figure out if things will fit. If people leave the store, you’ve probably lost the sale,” Beck said. The VR platform “gives the customer the confidence to buy.”
And in an industry where sales are measured per square foot, VR has the potential to enable furniture sales without requiring actual, physical furniture, Beck added. Macy’s has between 90 & 100 stores with furniture displays, but an additional 100 stores without, he said.
In addition to Macy’s, Marxent works with 10 of the top 30 national furniture retailers and kitchen cabinetry companies, Beck said. Marxent also landed its first international clients this year, he added.
“AR/VR is the hottest tech out there right now. Google, Apple, Facebook, Snapchat — companies are really investing in this space,” Beck said. “We’re right here in Dayton, we got our financing in the Midwest, and we’re competing with Silicon Valley with tech grown right here.”
Ohioans can check out the Marxent VR technology at Macy’s stores in Easton Town Center in Columbus, Tuttle Crossing Furniture in Dublin, Lima and Summit.
Interested in joining the company and getting your hands in on the tech development? Marxent is hiring — computer science engineers, unity engineers with a background in 3D, technical project managers and quality assurance analysts.
Marxent also offers a full ride scholarship to Wright State University that is open to women pursuing degrees in the computer science field.
Dayton startups Battle Sight Technologies & Magnetic Mobile, LLC are both in the running for Dayton Business Journal’s prestigious Business of the Year award.
Battle Sight Technologies, which just turned one in August, is nominated in the veteran business category. Battle Sight was founded by Dayton entrepreneur Nick Ripplinger, who licensed tech from the Air Force to create the world’s only reusable, infrared crayon.
“Supporting the military and veterans, through our products and as a company, is so important to us at Battle Sight,” Nick said. “Being recognized by the DBJ for this is a huge honor for us!”
Mobile app & web developer Magnetic Mobile, LLC is nominated in the rookie business category. Magnetic Mobile was originally the retail loyalty division of Marxent, an industry leader in augmented and virtual reality. In 2016, it spun off and became Magnetic Mobile, in order to grow and support a more diverse client base.
“We’re thrilled to be a finalist. Since spinning off from Marxent in 2016, we’ve expanded our team and gained several new clients,” Geoff Pattison, Magnetic Mobile President said. “This recognition highlights that growth and the value we’re bringing to both our customers and the Dayton community.”
The DBJ’s Business of the Year program has recognized leading local businesses for 16 years. This year, the guest judges included Cynthia Jackson-Hammond, president of Central State University; Doug Lunne, president of LMG (Lunne Marketing Group); and Beth Whelley, senior vice president and Dayton managing director with Fahlgren Mortine. The Business of the Year will be announced at the DBJ’s black-tie gala Nov. 8.
When a server is hacked, you risk losing information — but when a medical device is hacked, you risk losing lives.
It might sound like science fiction, but the threat is real, MediTechSafe founder Pranav Patel stresses. And healthcare providers need some incentive to address the threat on a broad scale, he added.
To provide a piece of that incentive, Pranav is gathering data via this survey.
Pranav, through MediTechSafe, is currently working with four hospital systems, including one in a rural location & one in a large metro area. On average, 40 percent of the medical devices in each hospital are hackable.
And make no mistake, healthcare is being hacked — and at more than twice the frequency of other industries.
“Healthcare is the most-attacked industry, period,” Pranav said.
The reasons are twofold, he explains. First, in healthcare, data is transferred often — the hospital is in one location, but the lab is in another, and 70 percent of medical decisions are based on lab results, Pranav said. The more devices connected, the greater the risk. And there are twice as many medical devices as cellphones, laptops or similar IT assets, he said. Second, the data is more valuable — medical records are worth up to 50x more than credit card or social security numbers, Pranav said.
The percentage of devices at risk also vary by hospital department, he said. While the overall average of hackable devices in the hospital systems where Pranav has worked is 40 percent, in the CATH labs, where pacemakers are inserted, and the pediatric departments, where children are treated, roughly 70 percent of devices were hackable.
“The next war will not be fought on the ground,” Pranav predicts. “It’s not necessary to spend all that money to destroy an economy or create terror.”
An immediate example of medical device hacking involves ransomware, in which the hackers take control of a device until they are paid. But tweaking a medical record in transit can be just as deadly, say if the dose of a prescription is altered en route from the doctor’s office to the pharmacy, Pranav said.
It’s a possibility close to heart for Pranav, whose brother is hearing-impaired as a result of a medication error.
The good news is, these cyber security threats can be managed for as little as $1.50 per doctor visit, Pranav said.
But the healthcare industry is slow to shift, and cost is often a challenge, he said.
So Pranav is taking his call to action directly to the patients — Would you be willing to pay $1.50 extra per visit to secure your medical devices from cyber attacks? Learn more and answer here.
MediTechSafe was founded in mid-2017 and launched its software platform earlier this year. The company has open positions in sales and marketing. Learn more here.
We’re so excited at the list of entrepreneurs & startups slated to pitch at our Oct. 26 Early Risers!
Josiah McArther, Tyler Willis & Matt Fisher are cofounders of Just Modern Tees, an urban Midwestern fashion retail brand. The Wright State University seniors came in second in a Shark Tank-style competition at the university during their freshman year. The engineering, business and public health students hail from Ohio, Indiana & Illinois. They want to create an environmentally sustainable brand that represents urban culture in the Midwest that Midwesterners will be proud to claim. At Early Risers, they’re seeking connections to customers.
Patty Vanderburgh is the founder of Rare Active, LLC, and the creator of pants designed to keep you warm while you get to the gym. Featuring a patented waistband, the pants completely unzip, making it possible to put them on and take them off without removing shoes. Patty describes them as a jacket for the lower body. She believes there are also potential military applications for the design. At Early Risers, she’s seeking feedback and business advice.
David Curtain & Franz Falize are cofounders of Food Forest, a grocery app designed to alleviate food deserts. More than 700 grocery stores closed in low-income communities in 2018 alone. The Food Forest app will enable individuals to order groceries online and pick them up at a designated location in their neighborhood. Curtain & Falize, both former Kroger leaders, intend to offer one national and one value brand for each product category. They also intend to accept SNAP benefits. At Early Risers, they’re seeking investment.
The Sept. 28 Early Risers edition is sponsored by Natcha Nussbaum, financial advisor with Ohio Valley Financial Group. Natcha will be bringing the coffee and donuts to kick off the 7:30-9am session.
Early Risers kicks off a whole day of open co-working and events @444 with Dayton Tech Guide, Nucleus, Wright Brothers Institute & The Entrepreneurs Center.
Register for Early Risers here: http://bit.ly/OctEarlyRisers
Hope to see you @444 on Oct. 26!
A college student, helmet over his eyes, twists his hands, then pulls them apart. A few inches in front of him, a 3D geometric shape appears between two robotic hands that float on the screen, mimicking his movements.
The interactive display from the Air Force Research Lab’s Gaming Research Integration for Learning Laboratory was set up in the atrium of Wright State University’s Student Union last week as part of Wright Brothers Day, an annual celebration held on the anniversary of Wilbur Wright’s 39-minute flight on Huffman Prairie on October 5, 1905.
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This was the eighth year for the annual fair, which aims to celebrate the Wright Brothers’ innovation by connecting Wright State students with innovative companies working right here in the Dayton area, said Samantha Andrus, president of the American Marketing Association Club which organizes the annual event.
“Everyone here has some sort of invention or innovation,” she said. “A lot of companies in the Dayton region are following those footsteps, and we want to show students what they can be part of here at WSU.”
For freshman, the event can expose them to the opportunities available in various fields; for juniors and seniors, the event offers a networking opportunity that can lead to internships or jobs.
A team of developers from Mile Two, LLC was at Wright Brothers Day with a demo of their new healthcare app, which is a finalist in a national competition.
David Gross of Galois had a display about the company’s Dayton office and their work developing a backup vision-based navigation system for drone operators to use to fly the machines if GPS goes out — whether that’s because GPS signals are being jammed during a military application, or the signals are simply being blocked by buildings in the heart of a dense city during a commercial application.
Another popular booth was that of the Women in Aviation organization. The locally-based organization boasts 13,000 members and 121 chapters across the country, and it produces two magazines: Aviation for Women & Aviation for Girls.
In the last year, the number of women applying for licenses to fly drones more than doubled from 1,010 to more than 2,500, founder Peggy Chabrian said.
The Wright Brothers Day event allows her to raise awareness of her organization — and the Women in Aviation’s scholarship opportunities — and to encourage young women interested in STEM to continue pursuit of that path.
On Monday, Cincinnati Startup week kicked off!
Among the first-day panelists were Dayton’s own Nick Ripplinger, founder of Battle Sight Technologies; Ryan Helbach, Chief Intrapreneur at the Air Force Research Lab; and David Scott, Director of Commercialization at The Entrepreneurs Center. The men talked about how to license brand new technologies from the Air Force Research Lab to build a company, like Nick did with Battle Sight Technologies and its MARC IR infrared crayon.
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It’s not too late to get down to our southern neighbor and check out more cool panels this week. You can also check out the OCEAN Conference at the end of the week — OCEAN is a not-for-profit in Cincy that focuses on faith and entrepreneurship.
Here are some sessions we’ve circled on our calendar:
• Tuesday, 3pm — Cincinnati Entrepreneurs’ Organization presents the Global Student Entrepreneur Awards regional competition. Watch three full-time local university student entrepreneurs show their entrepreneurial passion. If you want to be inspired, listen to these entrepreneurs who juggle going to school full-time with growth-oriented, revenue-generating businesses. This is not another pitch competition, these are full-time students who have already launched businesses going head-to-head in front of local entrepreneurial judges. You won’t want to miss this energizing event.
• Wednesday, 6pm — Startup Week IoT Pitch Competition powered by Main Street Ventures. Startup Cincy is doing an IoT competition with Losant with a prize pool of $8,000! Finalists will get a hardware kit worth $300 to complete their proposed project. Final awards will be on Oct. 10 event at the Drinkery in OTR.
• Thursday, 4:30p — Founder’s Institute Showcase. The Founder Institute is the world’s premier pre-seed startup accelerator, having helped launch over 3,300 companies across 180+ cities and six continents. We help pre-funding entrepreneurs and teams build an enduring company by establishing a critical support network of local startup experts that are invested in their success, and providing a structured and challenging business-building process that has helped our alumni raise over $700M.
• Thursday 6p — OCEAN x Startup Week Mashup. The Thursday night session of OCEAN Conference is a collaborative effort with Startup Week that will serve as the culmination of Startup Week and the opening MainStage session of OCEAN Conference. Highlights include a pitch contest with a $5,000 cash prize & founders panel featuring three entrepreneurs sharing their “Worth It” stories. Visit www.OceanPrograms.com for more info on the OCEAN lineup.
Visit http://cincinnati.startupweek.co/ and click “register”! Then check out the events schedule and click “sign up” or log into your account. Create your schedule and see what sessions your Dayton friends and colleagues are attending.
Most of the Startup Week sessions are at Union Hall, 1311 Vine St, Cincinnati, OH 45202. From Dayton, follow I-75 S to Western Ave in Cincinnati. Take exit 2A from I-75 S, turn left onto W Liberty St., then right onto Vine St. Mercer Garage is located across the street from the hall, or the Washington Park garage is only a block away.
The OCEAN conference sessions will be held at Crossroads Oakley, 3500 Madison Road, Cincinnati, OH 45209. From Dayton, take I-75S to exit 7 for OH-562 E. Use the left lane to go to Ridge Ave. Parking is available at the church.
Zontaye Richardson of TheZe DealZ — A Thrifty Boutique & Bill Miller of Grind House Coffee and Tea Company each took home cash for their businesses last week after winning Pitch Night by Minster Bank, held at the Montgomery County Business Solutions Center.
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Zontaye placed first, capturing the $1,000 prize. Theze DealZ — A Thrifty Boutique is located in West Dayton at 3491 W Siebenthaler Ave. The boutique-style thrift store has become a community gathering place in the neighborhood, she told the panel of judges from Minster Bank. In addition to selling quality gently-used clothes, Zontaye hosts fashion shows, benefits and a variety of health screenings out of her shop. She hopes to eventually expand her biz into the two storefronts adjacent to her own, which are currently unoccupied.
Bill placed second, capturing $500 in prize money. His family has been blending coffees and teas as a hobby for a century, he told the judges. After he was laid off in 2015, he decided to take that hobby knowledge into the business world. The online retailer opened its first Grind House Coffee and Tea Co. physical location in April inside Meijer in Fairborn, then moved into Meijer in Huber Heights in August. Grind House Coffee and Tea Co. beans are roasted locally, he said, and he hopes to expand into several additional Meijer locations.
Other individuals and companies who pitched Wednesday night included:
Bobbie Watkins of Obedience LLC, a faith-based consulting firm focused on helping women reach their goals;
Micah Dickson, of Novus Capital Partners, who envisions an investment fund designed specifically to help minority-, women- and veteran-owned businesses access capital;
Regina Johnson, of Ladybug Services, who offers environmentally-friendly integrated pest management services;
Charlynda Scales of OH Taste Marketing, a marketing consulting firm working to support Ohio food businesses via consulting, food tasting experiences, and demo and sales management;
Cecelia Morris, of Taking Charge, Inc., who specializes in digital marketing solutions for small business owners;
Paullecia Brown-Scott, who plans to open and adult daycare center;
George Xiao, of Microcvd, who is working to develop next-generation 3D printing technology;
& Vivian Thompson, who wants to open a gospel cafe.
Minster Bank offers a variety of personal, business, and private wealth management services. Leaders are gearing up to open a branch in downtown Dayton in the coming year.
The Montgomery County Business Solutions Center is a group of economic development and workforce specialists determined to see businesses succeed. Free services they provide include workforce planning, navigating government requirements, identifying local and state incentives, financial assistance for capital expenditures and workforce development, networking opportunities, and facility use. More info at https://mcobiz.com/.
31 S. Main St.
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