Cognovi Labs, developer of the SaaS platform for emotion-based artificial intelligence (Emotion AI), closed $2.3 million in seed funding. Columbus-based Ikove Venture Partners led the capital raise alongside HBS Alumni Angels of Greater New York, Bossa Nova Investimentos and a leading angel investor group from Europe.
Cognovi leverages its Emotion AI to make predictions for businesses, investors, advertisement agencies and political events. This funding follows a string of successful Cognovi predictions for several high-profile outcomes — including predicting the Brexit referendum hours before the polls closed, foretelling the results of the 2016 US presidential election and most recently, accurately predicting a Doug Jones victory for the 2017 Alabama Senate race weeks before sexual harassment claims surfaced against Roy Moore.
“The fact that we were massively oversubscribed by the first day of our 10-day European roadshow is a clear indication of the huge potential for Cognovi Labs’ artificial intelligence platform and business opportunity,” said Beni Gradwohl, Ph.D., CEO and co-founder of Cognovi Labs. “We now have the financial strength to scale out our client engagement, expand our core team and refine our commercial product to realize our market potential.”
Cognovi Labs’ AI technology was developed by Dr. Amit Sheth at the Kno.e.sis Center at Wright State University, which is one of the leading AI labs in the world. Through the Startup Nursery – which provided the funding and go-to-market strategy – Ikove vetted the underlying technology and then launched Cognovi Labs in partnership with the university, Amit Sheth and Beni Gradwohl.
“Through our Startup Nursery, we are committed to closing the commercialization gap for high-impact technologies,” said Flavio Laboto, managing partner and co-founder of Ikove Venture Partners. “We’re proud to see the continued success of Cognovi’s Emotion AI technology as well as their growth within the predictive analytics industry.”
The Wright Cup will host their 2nd coffee symposium in partnership with local Ohio coffee roasters in their first retail location. This event is designed to help people discover great coffee while learning about the growing coffee industry in Ohio. Some speakers include:
The Wright Cup is opening its first retail location in Franklin Shopping center located off of highway 75 just south of Dayton, Ohio. The facility will be used for operations for their coffee subscription service, local retail sales of the latest coffee gear and event space hosting coffee classes.
“We love helping people discover how amazing locally roasted coffee in Ohio really is. We are not a top 10 coffee state for nothing,” says Charles Nick, the founder of The Wright Cup. “If you want to learn more about coffee at any level, stop by and say hi. We would love to help,” says Alex Chittum, a cofounder and account manager for The Wright Cup.
The event will provide an opportunity to dialogue with local coffee industry experts, learn how to create the perfect cup of coffee, and make new friends while discovering why Ohio is truly a leader in the coffee industry.
January 27th from 11:00 a.m. to 3:00 p.m.
8401 Claude Thomas Rd, #21A, Franklin, Ohio 45005
To register your free ticket visit http://bit.ly/2mxH0ek
Registration includes entry into the door prize drawings.
Visit the http://www.wrightcup.com and select the BUY or SUBSCRIBE button.
Angel investors play a vital role in Dayton’s startup ecosystem. We are a technology-rich area and it often takes money outside of the entrepreneurs own investments to move that technology from the idea to market. In addition, angel investors often play key mentorship roles with the founders as they often have entrepreneurial or business experience themselves.
Does this sound interesting to you? Then be sure to RSVP to the Angel Investing Lunch The Entrepreneurs Center is hosting in partnership with VisionTech Angels.
The event is Monday February 19th from 11-1 at The Entrepreneurs Center. If interested, RSVP to Bonnie Kling at [email protected]
There are a few income requirements to becoming an accredited investor which you can check out here.
Local entrepreneur Jason Evatt just launched his first crowdfunding campaign. Watch the product video, read his story below, and then head over to his campaign and back the project and support a local product!
The idea for the Multi Functional Dry Bag (MFDB) was born in the high-country of the Bitterroot Mountains. After hiking several miles in, Jason Evatt, Airborne Outfitters founder, realized he needed to free up some space and weight in his pack. Once everything was laid out in the tent, he noticed the dry bag he used to keep his sleeping bag dry went from being the most important piece of gear to the least important in a matter of seconds. He thought that if the material was hydrophobic and BPA free he might be able to repurpose the bag and use it to collect water. After experimenting with a few different prototypes, he was able to connect an external water filter.
During this trial and error period, he strove to make the MFDB even more versatile. That’s when he discovered the MFDB could be used to do more. An inflation device makes blowing up a mattress much easier, but after some research it was determined that there were additional benefits.
While inflating your air mattress with the MFDB it is not only more convenient, there are additional benefits. If the user utilizes ambient air versus one’s highly-saturated breath, the mattress can stay warmer longer. Additionally, those operating at high altitudes may not have the lung capacity to fully inflate their mattress. With this in-mind, Jason set out to create a connector that would work for multiple brands. The MFDB will inflate Klymit, Thermarest, Nemo, and some REI & Cabelas Models. Many of the leading outdoor manufacturers make dry bags, water collection/filtration kits and mattress inflators…but none put all that functionality into one piece of gear.
The MFDB is 100% American-made and Veteran Owned.
“Kevin O’Leary would probably want to throw me out of Shark Tank, but there is a tremendous sense of pride knowing I made it here. My grandmother spent 50 years working in a mill. That job provided for my family and many others. I want to do my part and help empower American manufacturers. I am incredibly proud to say this product has a direct & positive impact on 38 American families. We could definitely make higher margins with offshore suppliers, but that’s just not me.
Lastly, I want to show others struggling with PTSD that there are alternatives to self-medicating, alcohol, and suicide. The hum of a sewing machine and some good tunes can do wonders for your soul!”
Soin LLC and the Rajesh K. Soin family, in partnership with other members of the Dayton Chamber of Commerce, will be presenting the annual Soin Award for Innovation at the Dayton Area Chamber of Commerce Annual Meeting this spring. $25,000 in addition to public and community recognition will be awarded to a Dayton based organization with a product or service that has recently been or ready to be released with potential for long-term growth, increased employment in the Dayton area, and economic prosperity for the region.
Past winners have included local startups Desin (known for Obi!), Redwall Technologies, and Nona Composites.
An organization applying for the Soin Award for Innovation should meet the following criteria:
If this sounds like your organization, apply at https://securesite.dacc.org/index.cfm/soin-award-application/ by February 16, 2018 at 5:00PM. Nominations are not required and finalists will present before selection committee for final decision.
For more information on this awesome opportunity, visit: https://daytonchamber.org/services/business-resources/business-awards/soin-award-for-innovation/
Win $50,000 in the Hardware Cup. The AlphaLab Gear Hardware Cup is an international pitch competition for early-stage hardware startups. We have regional competitions in six U.S. cities (including Pittsburgh and Chicago), with the winner in each receiving $3,000 and a chance to pitch at the international finals. Beyond the top finals prize of $50,000, companies will have the opportunity to meet over 100 potential investors, customers and partners. Any physical product company can apply: manufactured products, IoT/connected devices, health/medical, consumer products, consumer electronics, food, fashion, robotics, etc. Apply at hardwarecup.com.
Applications Open for AlphaLab Gear Hardware Accelerator. Applications for the next cycle of AlphaLab Gear are open until February 11th. AlphaLab Gear is a nationally-ranked hardware accelerator in Pittsburgh. We guide early-stage physical product companies through a 21-week customer discovery module and a 15-week manufacturing module, with up to $125,000 in funding. Apply at alphalabgear.org.
Imagine what our community would look like on January 1st of 2019 if 500 entrepreneurs started a business over the next year. What if 500 companies launched a new product or service?
How many additional people would be employed? How much stronger would our economy be?
Entrepreneurs and small business owners are vital drivers of our economy. Yet too often they go unknown and unrewarded until they become mega-corporations.
We, as a community, must do better. We have to support these risk takers and tell their story. That’s where 500 Ideas to Action comes in.
In 2018, our community will support at least 500 steps forward for entrepreneurs. 500 new business incorporations. 500 new product launches. 500 new storefront openings. 500 first employee hires. 500 of whatever the next steps are for our entrepreneurs.
More importantly, we will tell their authentic story. The one about their journey to success, and not just the transaction that occurred. We will inspire a community of people to take action and pursue their entrepreneurial dreams.
Because in the Dayton of tomorrow everyone, regardless of their background, should have the ability to determine their own economic prosperity.
Details
Starting January 1st of 2018, 500IdeasDayton.com will continually be updated with the stories of Dayton-area entrepreneurs as they hit major milestones in their startup. Milestones could include:
-Starting a business
-Getting a new storefront or office
-Launching a new product
-Getting a first customer or contract
-Getting an investment
-Licensing/spinning out a technology
-Getting acquired
-Getting a new patent
-Launching a crowdfunding campaign
-Firing a first employee
Stories can be submitted on 500IdeasDayton.com and can be written, video, or audio. A local member of our startup community will review and post all stories within a week.
Dr. Dan Tolley, President of SP Global, Inc. announced that a ten-million-dollar fund has been established to provide comprehensive support to small businesses promoting business and economic development throughout the region. This announcement was made during The Dayton Entrepreneur’s Center Catalyst event at Sinclair Community College.
“Catalyst was the perfect platform to announce the establishment of this fund as the audience was full of entrepreneurs and community and business leaders,” said Scott Koorndyk, President, The Entrepreneur’s Center. “We applaud and welcome this huge impact, strategic investment in the Dayton area and look forward to SP Global Inc.’s continued enthusiastic leadership for our region’s entrepreneurs.”
SP Global Inc. is pleased to announce the availability of this $10M dynamic fund to advance technology innovation and to use our patented SP Global Transformative Corporate Formation (TCF) model to grow and to mentor small businesses throughout Ohio, said Dr.Tolley. “TCF provides a faster start for new companies as demonstrated by two Dayton-based companies, GlobalFlyte and S.A. Wyze, mentored by SP Global, Inc. and on their way to revenue in under three years and most importantly bringing critical jobs and critical technology advancements to the area.”
Tolley continued, “SP Global, Inc. is pleased to partner with The Entrepreneur’s Center and other area organizations, including the Air Force Research Laboratory (AFRL), to find pockets of innovation and to work with committed individuals and teams to strategically enhance their hard work and help get their technologies to market more efficiently.”
Dayton’s startup community has a history of speaking on the TEDxDayton Stage and this year is no different. Local entrepreneur, Joe D’Silva, spoke on the difference between “healthcare” the noun and “care of health” the verb and how that led him to create a product to help patients and their caregivers turn pills into easy to swallow liquids.
All talks are now on YouTube. Here’s the full slate of speakers from 2017:
The State of Ohio has a couple of great programs that can help you take a technology from a university or research lab and give you the time and funds to commercialize a product. Both opportunities are non-dilutive–they don’t take equity in your company– and have deadlines fast approaching!
If you are considering applying for either program, please reach out to John Owen at [email protected]. We’ve had a number of local startups receive funding from these programs, including GlobalFlyte, WoundAI, and Endo Guidance Technologies, and can potentially help you strengthen your applications.
TECHNOLOGY VALIDATION and START-UP FUND (TVSF)
“The goal of the Ohio Third Frontier Technology Validation and Start-up Fund (TVSF) is to create greater economic growth in Ohio based on start-up companies that commercialize technologies developed by Ohio institutions of higher education and other Ohio not-for-profit research institutions. The Technology Validation and Start-Up Fund has been designed to:
Round 16 Applications Schedule
Link: https://development.ohio.gov/bs_thirdfrontier/tvsf.htm
I-CORPS@OHIO
“I-Corps@Ohio funds will be offered on a competitive basis to teams of faculty researchers and graduate students developing institution-based technologies from Ohio colleges and universities. Under the supervision of business and entrepreneurial mentors, teams will develop market-driven value propositions and scalable business models around their technologies and attract follow-on funding to support company formation and market entry.”
Submissions for the next cohort are due January 16, 2018
Link: https://icorpsohio.org/apply/
31 S. Main St.
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