i2E Inc. recently led a $1.25 million seed round investment in Linear Health Sciences, a Norman-based innovative medical technology startup.
It’s exciting when a young Oklahoma company signs up Fortune 500 companies as customers — Hyundai Motor Co., Ritchie Bros., the world’s largest industrial auctioneer, eBay Motors and JPMorgan Chase. It’s even more exciting when that young Oklahoma company is at the leading edge of a monumental shift in the way the world works. That’s the story of WeGoLook, a company that started in 2009 and in June hired its 100th employee.
A new fuel that might power the future of the world’s general aviation industry filled a small jar in a hangar at Ada Municipal Airport, looking as if it could have been a mug of amber ale. The new fuel was developed solely by Ada’s GAMI and is called G100UL for GAMI’s 100 Motor Octane Unleaded. It is awaiting certification by the Federal Aviation Administration and is lead-free.
Altimeter Software has a very straightforward elevator pitch: “Helping Your People Achieve Their Goals.” The startup’s mobile application software was developed by the information technology group at Oklahoma Christian University to help OC students keep track of their spiritual development goals. Using beacon-supported technology, students find and check into and out of events and monitor their progress against their goals.
From TechCo: WeGoLook is a mobile technology platform which features over 25,000 nationwide agents (Lookers) who are dispatched on behalf of an individual or corporate client to capture onsite data in the form of photos, measurements, video, answering custom questions or perform low-complex tasking.
The Achilles heel of entrepreneurship is thinking you know all the answers. Everyone agrees that it takes phenomenal confidence and courage to start any business from scratch. But when confidence and courage become certitude and cockiness, it leads to disaster. As most of us in the investment industry can tell you, we see too many entrepreneurs who believe that they have figured everything out.
Stephanie Conduff came up with an idea for a product after months of preparing her infant daughter’s meals in bathrooms. Her solution could help hundreds of Oklahoma businesses follow labor laws, and potentially create a more loyal workforce, said Oklahoma Disability Law Center director Kayla A. Bower.
There are many entrepreneurs who are developing a product that would have the best chance at success if someone else took that product to market. Instead, we see entrepreneurs — and this gets back to “loving the baby” — who are determined to try and break into a market that’s already dominated by powerful players such as Microsoft, Cisco or P&G.
No. 3 on my short list of things that cause startups to fail is not having enough capital. I don’t mean “not having enough capital” in the way you might expect, at least not in the way that I do when I write about the dearth of seed-stage capital. With only about 2 percent of all VC funds going to seed-stage deals in the first place, and most of that in Silicon Valley and to a handful of other areas across the country, there is simply not enough seed capital in play.
While Oklahoma’s economic fortunes have long been tied to the energy industry, the state’s ability to draw in new and emerging industries has been a particular focus of economic development and political leaders. Spiers New Technologies is one firm involved in the emerging sector of battery refurbishment and manufacturing. Its founder, Dutch-born Dirk Spiers, spoke to the OKGIT.com about opening his business in the Sooner State and its plans for future international expansion.
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Entrepreneurs underestimate and undervalue the importance and the benefits of gathering direct feedback from real customers on their problems and on their willingness to pay for alternative solutions. That’s the driving force behind i2E’s Venture Assessment Program (VAP). In VAP, we help entrepreneurs perform market analysis and figure out the commercial opportunity for their business.
A company might clear a milestone but the why behind that particular success might not be so clear. But when something fails, the lesson is right there, smacking us in the face. Starting a new business is so inherently risky that there is always going to be a higher failure rate. But that doesn’t mean it has to be as high as it is. Failure, when we look at it, and study it, always teaches something that can increase the odds for success with the next milestone or deal.
This year’s group of honorees for The Journal Record’s Innovator of the Year program demonstrates that Oklahoma’s pioneering spirit is still alive and well. The companies, representing a variety of industries, will be recognized during the Innovator of the Year luncheon Aug. 11 in Oklahoma City.
The past few weeks have been especially busy ones for Oklahoma Innovation Institute, a nonprofit committed to building an innovative economy in the Tulsa region. The institute is launching two new programs this summer: a community technology commercialization platform and BetaBlox, the startup accelerator that focuses on entrepreneur-to-entrepreneur training and mentorship.
An Oklahoma City-based startup company has qualified for up to $1.9 million in state incentives over the next 10 years through the Oklahoma Quality Jobs program, the Oklahoma Department of Commerce said Thursday.
Led by the Greater Oklahoma Chamber and OKBIO, with support from i2E and others, Oklahoma hosts a large pavilion with more than 40 Oklahomans helping our biotech startups take advantage of BIO’s unique opportunity to directly interact in person with business development leaders around the world.
Advanced Processing Technology is a service company that provides software, training and installation of sensors used in manufacture of composite materials for the aviation industry. The tools developed by AvPro measure and control the process of applying heat, pressure and time to carbon fibers and epoxy materials in an oven-like autoclave.