Entrepreneurship : Innovation + Job News

Last week in Austin, TX, James S. Burns of AssureRx Health had more than SXSW on his mind. The president and CEO of the startup headquartered in Mason picked up another honor to top off a run of significant investments in his company by a wide range of “angels.”

Of all the startups in the nation, AssureRX Health received the 2012 Luis Villalobos Award, given annually to the most ingenious and innovative company supported by angel investors.

“This really is such an honor, especially since there are so many startups across the country creating innovation,” Burns says.

AssureRx, a technology that allows doctors to use genetic information and evidence-based standards to select the best possible medication for patients the first time, has its roots in Cincinnati Children’s Hospital and the Mayo Foundation, each of which developed the intellectual property for the technology and provided early investments.

Increased support also translates into more jobs at AssureRx, which plans to grow to 100 local employees, from its current level of around 50, by the end of 2012.

Soapbox has been covering AssureRx’s development and progress since 2008. Read more about the company here:

AssureRx Health raises $11 million series B financing

New AssureRx CEO brings 30 years of experience to guide startup's next growth phase

AssureRx launches its first personalized med product

CincyTech's $10M attracts $100M in co-investments

Breathing in space is something astronauts working on the International Space Station can’t take for granted.  So the door seals that close air chambers and keep fresh air intact are taken very seriously.

But the testing for these docking seal materials is an expensive process, involving thousands of hours of time and costly facilities.

Thanks to University of Akron mechanical engineer and researcher, Nicholas Garafolo Ph.D., some of the time and expense may be shaved off this process due to computer prediction models he has designed.

Garafolo is part of a research team testing polymer/metal seals being considered for future advanced docking and berthing systems. The university researchers work with partners in Cleveland at NASA’s Glenn Research Center, which is responsible for developing the main interface seals for the new International Low Impact Docking Systems (iLIDS). Their work is being supported by a multi-million dollar grant from NASA.

NASA has been developing low-impact docking seals for manned missions to the International Space Station, as well as for future exploratory missions. Common to all docking systems, a main interface seal is mated to a metallic flange to provide the gas pressure seal.

“These seals must not allow any more leakage of air per day than that you would find in the top of a filled water bottle,” says Garafolo.  “There are very tight requirements.  This computer modeling enables us to find baseline measurements before any fabrication of the seals so it saves time and money.”

Garafolo says that the design and testing phase of the seal development can take years and testing can cost hundreds of thousands of dollars.  “This could potentially cut back on numerous tests, so by doing so it could save tens of thousands of dollars.”


Source: Nicholas Garafolo
Writer: Val Prevish

Tax incentives from the state of Ohio and city of Columbus will help keep thriving information technology development company Rampart Hosting growing here in our state.

Rick Hulse, vice president of business development for Rampart, says that the company will add as many as 26 new jobs in Columbus over the next several years as its mobile application development business grows.

Rampart received a 40 percent, seven-year Ohio Job Creation tax credit, which Hulse says enables them “leeway to hire the right people for the right projects.”

“We had looked into moving or opening branches in other states, which of course would mean fewer jobs here in Ohio,” says Hulse, who says some the company’s largest customers are out of state.  “But this (tax credit) absolutely made it more attractive to stay right here.”

The company currently employs 13 with an annual payroll of about $800,000.  In addition to mobile application development the company offers web hosting, web development and tech support.

“We can build something and then we also know how to take care of it,” says Hulse.  “We are the total package.”

Rampart Hosting was founded by Leo Daugherty III and Nathan Case.  The company’s revenue has more than tripled in the last three years.   They are looking to hire additional mobile app developers, web developers and sales and administrative support as their growth continues, says Hulse.


Source: Rick Hulse
Writer: Val Prevish

The University of Dayton (UD) and the Fraunhofer Institute of Non-Destructive Testing in Dresden, Germany have created a collaborative center of excellence at the UD School of Engineering. The project, which began with a faculty exchange program between the two organizations in 2004, will allow UD and Fraunhofer to exchange faculty, graduate students and critical ideas.

The focus of the new center will be on ways to implement or improve structural health monitoring, non-destructive evaluation and nano characterization. Structural health monitoring and non-destructive evaluation examine how to use sensors to check for structural defects without stopping production. Nano characterization looks at the materials that are used to create sensors and equipment on a molecular scale. It then determines or mitigates responses to fracture and fatigue based on how materials are welded and joined.

Now that the Center has officially opened, its leaders are ready to pursue grants and investors within Ohio.  According to Dr. Tony Saliba, Dean of the School of Engineering at UD, “The center has already received grants from the European Union. Contracts and funds from companies associated with Fraunhofer will be brought here. We are putting together teams to write proposals here."

He continues, “As we continue to win grants we will hire more researchers, faculty, and assistants.”

Meanwhile, work is already in progress with the ball bearing, metal and steel manufacturer Timken Company in Canton, Ohio.  The center has also done work with Ethicon of Johnson and Johnson on titanium probes and Depuy of Johnson and Johnson on titanium hip implants.

The University of Dayton and Fraunhofer Institute for Non-Destructive Testing-Dresden Project Center has potential to boost economic growth and employment in the region. “Job creation is going to come as new sensors are developed and implemented through Ohio manufacturers,” affirms Dr. Saliba.


Source: Tony Saliba
Writer: Mona Bronson-Fuqua

Ryan Rybolt started his payment processing company, Infintech, almost eight years ago. As a former banker, Rybolt thought small to medium businesses were taken advantage of and underserved. Today, his business levels the playing field through partnerships with chambers of commerce all over the country.
 
He put together a business plan with a focus on being fair and transparent by not overcharging on credit card processing fees. Rybolt, who was already connected with the Cincinnati Chamber of Commerce, began to form a partnership five years ago by offering payment-processing rates much lower than other companies. Many chambers offer members discounted group rates on things like offices supplies and health care by leveraging their collective buying power. By doing that with payment processing, Infintech saves chambers and their members around 40 percent on credit card processing costs.
 
“There’s no reason why a business should pay almost twice what it costs to process a payment,” Rybolt says.
 
Infintech provides services for in-store retail, mobile, online and phone purchases. With pre-negotiated rates and no long-term contracts, Infintech gives companies worry-free service.
 
That service won Infintech the endorsement of the state of Kentucky’s Chamber of Commerce Executives three years ago, and the business started serving 90 chambers across the state. Earlier this month, the American Chamber of Commerce Executives, which is a non-profit that helps manage chambers all over the country, announced their partnership with Infintech.
 
“The took notice of our program and approached us about becoming a partner,” Rybolt says. “This will allow us to grow into any markets we want and at a speed we want.”
 
Already, Rybolt says he has been approached by as far away as Anchorage, Alaska. In the past few years, Infintech has grown by 30 percent or more, and Rybolt expects that to be matched again this year.
 
“This opportunity is going to give us the opportunity to serve clients all over the country,” Rybolt says. “We will really be able to control our own growth.”
 
By Evan Wallis

Just six months after moving from Chicago to Cincinnati, mobile coupon innovator Samplesaint continues to catch major consumer brand and retailer attention. The startup's evolving technology is fueling its growth from eight to 25 employees since coming to the Queen City.

“We've had tremendous growth in product development. In terms of hiring, we've brought on a lot of IT and marketing folks. We have 25 employees, but we're not done yet,” says company founder and CEO Lawrence Griffith, a Cincinnati native.

Samplesaint was built on its mobile phone couponing technology that allows coupons to be easily scanned. It bypasses the more cumbersome process of printing digital coupons or requiring retailers to manually enter coupon codes from a phone.

Samplesaint is more than couponing. It offers a range of mobile marketing, consumer insight, research and experience services. Samplesaint's technology also includes access to a database that ties to retailers' point-of-service, allowing then to immediately identify and determine the redemption and expiration dates of coupons.

The company has already worked with major consumer brands, including Lipton, Breyers, Dove, Hellann's and Ragu, Griffith says.

“The integration of three pieces are what companies are most excited about: our ability to acquire content, geotargeting and data collection,” Griffith says. “And we can work within their existing systems.”

Samplesaint, which still has an office in Chicago, moved to Cincinnati after a $250,000 investment from CincyTech. It was one of the first companies that CincyTech investment attracted from out of state, as well as the first African-American owned company in which CincyTech has invested.

Rahul Bawa, director of digital/IT for CincyTech, says the venture development firm recruited Samplesaint from Chicago because of its unique approach to mobile marketing.

“Samplesaint has pioneered innovative mobile technologies,” says Bawa. “The company offers new ways of delivering content for consumer-focused companies and their brands. There’s a growing need in the marketplace for mobile-based marketing, and Samplesaint continues to explore ways to serve it. And with our emphasis on consumer marketing in this region, a company like Samplesaint belongs here.”

Source: Rahul Bawa
Writer: Feoshia Henderson

Someday, perhaps, we'll power our ever-growing number of personal electronic devices with something sustainable like biofuels or sunlight. Until then, the nPower PEG (personal energy device) will do nicely. Tremont Electric's clever gadget converts the motion of walking or running into energy, which it stores in a battery until you're ready to recharge your cell phone or iPod.
 
Cool, right? The only problem to date has been getting hold of one.
 
"The last 18 months have been pretty challenging," says vice president Jill LeMieux. The supplier of the custom battery used in the original design proved unable to keep up. At present there are about 2,000 nPower PEG's in use -- and 5,000 on back order. That's an encouraging but precarious situation for a small company.
 
But things should improve in late March; that's when Delta Systems in Streetsboro begins mass-producing nPower PEGs. Would-be owners' reward for waiting will be greater energy efficiency in the new models -- which Tremont Electric founder and CEO Aaron LeMieux attributes to advances in microprocessors -- and a standardized battery that holds twice the charge of the older ones.
 
Delta Systems has been "very supportive," Jill adds, fronting the tooling costs until sales ramp up. She expects to sell at least 1,000 units per month. In the near future they'll only be available through the website, but some retailers already are expressing interest. The product is a natural for stores serving runners, hikers and campers.
 
"What we've seen since the rollout of this product is overwhelming demand for it," says Aaron.
 
The company hears frequently from users who "love" the PEG, including servicemen in Afghanistan, who report that it has worked "flawlessly." And like the deal with Delta, a military order would be another big, energy-generating step forward for the tiny company. The PEG is also a finalist in the Edison Awards, which will be announced April 26. Tremont Electric also continues to work with universities and others on deploying buoys that would convert the motion of waves into large-scale energy production.
 
Notes Aaron, "It's going to get interesting around here, I can say that much."
 
 
Sources: Jill and Aaron LeMieux
Writer: Frank W. Lewis

OnShift Software, a leader in web-based staff scheduling and shift management software for the healthcare industry, closed $3 million in series B financing. The funding will help OnShift meet the rising demand to manage healthcare costs.

OnShift is experiencing fast, significant growth, having achieved a 400 percent increase in annual revenue in 2011. The company’s customer base has surged to more than 600 in the past year. The funding will be used to accelerate OnShift’s sales and marketing strategies and expand its presence in the healthcare industry.

“The healthcare market is under a lot of pressure to get costs under control,” says OnShift CEO Mark Woodka. “Our customers need to manage their labor costs in long-term care and senior living. That collection of customers is primarily doing it manually. This funding will allow us to meet the demand, accelerate our growth and continue to deliver world class, innovative solutions to our healthcare clients.”

With OnShift, providers control labor costs by preventing overtime, managing open shifts, and operating with appropriate staffing levels

OnShift has 36 employees and plans to grow to 55 or 60 this year.

 
Source: Mark Woodka
Writer: Karin Connelly
 
 
 
 

Platform Lab, a nonprofit information technology test and training facility in Columbus, had some big news to share last month. It appointed Silicon Valley veteran Ron Landthorn as Director and launched its new Data Center Solution Partner Program.

Landthorn has recently returned home to his native Columbus following a career in Silicon Valley working in international sales and business development for IT firms. He is a graduate of the Ohio State University with a degree in electrical engineering and has worked in engineering and management for businesses such as Procter & Gamble and AccuRay.

“My wife and I grew up here and it was always our intention to come back,” he says.  “I’m enthused about what’s happening in Ohio with technology development.”

Landthorn created the new program to help Platform Lab’s 200-plus clients gain better access to cloud backup solutions. The recently launched program is an important new collaboration with the Lab’s community of data protection suppliers that will help to protect data used and stored on the Internet.

“We’ve put together goals that can help us grow our respective business,” he says.

Platform Lab is the nation’s only state-funded IT test & training facility. It offers affordable access to IT infrastructure for testing, cloud computing, development and projects. “We give your company a competitive advantage by offering flexible, scalable services,” Platform Lab's website states. “Utilize Platform Lab solutions instead of investing in short-term hardware and software solutions that are difficult to manage and time-consuming.”

Columbus-based Veeam Software was selected as the program's first partner. Veeam has developed a large worldwide clientele and is considered one of the fastest growing and most innovative data protection suppliers in the world.

The Lab's Partner Program offers a win-win for business clients: first, it helps them to protect data, avoid costly mistakes and foster maximum productivity; second, it helps them to test such IT solutions to ensure they work optimally. 

Platform Lab is located within TechColumbus, a public-private partnership whose mission is to accelerate the development of Central Ohio’s innovation economy.


Source: Ron Landthorn
Writer: Val Prevish

A crowd eager to learn about entrepreneurial opportunities in Northwest Ohio flooded Olscamp Hall at Bowling Green State University (BGSU) on March 7th for the TechConnect event organized by the nonprofit organization Rocket Ventures.
 
The crowd of 200-plus acolytes gathered to brainstorm, network and hear a keynote address by BGSU’s new president, Mary Ellen Mazey. Dr. Mazey was formerly Provost and Vice President of Academic Affairs at Auburn University in Alabama, which houses the Lowder Center for Family Business and Entrepreneurship.
 
Dan Slifko, President and Director of Rocket Ventures, was enthused about the potential of TechConnect events to help business ventures come to life. “The whole idea is to connect minds, motivation, and money in the same room,” he says. “We want to help connect ideas with people who can help make them happen.”
 
Rocket Ventures, LLC is an entrepreneurial support organization and venture capital firm serving Northwest Ohio. Through events, funding and mentorship, the group brings together the necessary partners to help startups become successful. Specifically, the group provides pre-seed funding for tech-based companies.
 
TechConnect events take place quarterly and typically draw large crowds, suggesting the value of such networking opportunities as well as the growing entrepreneurial community that exists across the four corners of Ohio.
 
The TechConnect message will continue to spread across Northwest Ohio, with the next event scheduled for June in Findlay. Meanwhile, Rocket Ventures is doing its part to connect money, minds and motivation. The organization recently invested $300,000 in the startup InnerApps LLC, creator of the Identity Syncronizer platform for user security, password synchronization and access management.


Source: Dan Slifko
Writer: Mona Bronson-Fuqua

Robots battling natural disasters. Historic downtown Burton and its collection of 19th century buildings transformed into a turn-of-the-century Alaskan mining town. A virtual tradeshow display in 3D.

Creating these and other eye-popping visuals is all in a day’s work for Cleveland-based MadWerkz. 

Joddy Matthews, Founder and Director of Madwerkz, spent nearly eight years working for Sony, Pixar and Dreamworks in Los Angeles. In 2000, the native Clevelander returned to his roots and started MadWerkz.

The result is a team of award-winning artists and animators creating content, animation, design motion and visual effects for the advertising, film, TV, gaming and music industries. The growing company's stable of clients includes General Motors, Audi, Sherwin Williams and U.S. Vision, among others.

“We’re currently working on two new feature films,” says Matthews, who adds that he is not at liberty to name the titles. “They’re shooting the film in 2D, and we’re converting it to 3D.” MadWerkz is emerging as one of just a handful of companies specializing in 'Stereoscope,' another name for 3D.

“We’re getting opportunities to produce groundbreaking work in a broad range of applications,” he adds. “As a small creative shop with less bureaucracy than larger ones and in-house talent that includes producers, animators, videographers and designers, we have lower overhead, which translates into more project flexibility and lower rates.”

The company recently moved into spacious new quarters in the city’s Slavic Village neighborhood, giving MadWerkz room to grow. MadWerkz also has a presence in Chicago.

“For what we do, we love Cleveland because of the resources here,” Matthews states. “The location is accessible, and there are excellent schools, like the Cleveland Institute of Art, turning out very capable students in the visual arts. In addition, Cleveland State and the University of Akron have world-class professors teaching film and animation.”

Source:  Joddy Matthews
Writer:  Lynne Meyer

Akron has become known as a hub for biomedical companies in recent years, and now a new fund is seeking to further cultivate growth in that sector. The $1.5M Akron BioInvestments Fund targets high-growth companies in orthopedics, wound healing, cardiovascular science, biomaterials, medical devices and other areas for investments.

“While a small part of the Fund supports product development, the main focus is on supporting companies that are 2-3 years away from generating revenues," explains Dr. Zev Gurion, Executive Director of the Akron BioMedical Corridor. "We want companies we invest in to repay the loan so that the Fund will not become depleted over time. That’s why the business potential of the company is considered, as well as economic development elements."

Companies that receive investments must maintain an Akron headquarters or plan to establish a local presence, with an emphasis placed on the Biomedical Corridor. The Fund gets most of its backing from private organizations such as Medical Mutual, First Energy, Cascade Capital and NEOMED. The City of Akron created the fund through its Akron Development Corporation.

The Fund is composed of two parts. The Rapid Commercialization Loan Fund provides low-interest loans to companies that are close to commercialization. The Product Development Fund supports biomedical startups by financing proof of concept, prototyping, market assessment and business-plan development.

Committees made up of representatives from the University of Akron, county and regional government, private businesses and regional organizations make recommendations to the Fund’s board. Cascade Capital acts as the Fund Manager.

Zurion says that the Fund has made two investments so far, a $25,000 grant and a loan for $200,000. The Fund received six qualified applications in the first partial round of applications which ended December 31.


Source: Dr. Zev Gurion
Writer: Patrick G. Mahoney

Every year, the Columbus entrepreneurial community awaits the TechColumbus Innovation Awards gala with anticipation. The event is held in recognition of individuals, companies and technology teams in the 15-county Central Ohio region for achievements and contributions in technology leadership and innovation.

This month’s 2011 Innovation Awards program commemorated the Capitol City’s bicentennial. In celebration of “200 years of innovation in the Columbus region,” Columbus Mayor Michael Coleman joined Ohio State University President Gordon Gee and Les Wexner, Chairman and CEO of Limited Brands, in recognizing thirteen business leaders and two promising high school students.

The gala drew a record crowd of 1,100-plus attendees. Wexner led the audience in singing “Happy Birthday” to President Gee, whom he followed at the gala podium. During his speech, Wexner praised Central Ohio’s entrepreneurs and developers for emphasizing the importance of intellectual curiosity in their work.

TechColumbus CEO Tim Haynes attributes the event’s success to growing interest in TechColumbus’s mission as a startup business accelerator. “The idea that the innovation and tech ecosystem -- all of the companies that make up our tech economy -- are crucial to our individual and collective strength is really resonating," he says.

Innovation Award recipients are selected by a panel of independent judges from the entrepreneurial community. The 2011 winners included JP Morgan Chase’s Corporate Technology Team for Corporate Innovators of the Year, Owens Corning for Green Innovation; The Wright Center of Innovation in Biomedical Imaging at The Ohio State University for Innovation in Nonprofit Service Delivery; Health Care DataWorks for Outstanding Startup Business; and OSU’s Center for Automotive Research (CAR) for Outstanding Technology Team.

A complete roster of award winners is available on the TechColumbus website.


Source: Tim Haynes
Writer: Kitty McConnell

One year after TeraView opened its first U.S. office, the UK-based imaging company is finding its niche within Dayton's vibrant, high-tech business sector. Dayton was the logical locale for TeraView's U.S. office because the region is a center for aerospace engineering and the development of advanced sensor technologies.

TeraView’s Dayton office is housed within the the Institute for the Development and Commercialization of Advanced Sensor Technology (IDCAST), a facility established by the University of Dayton with a $28 million Third Frontier grant in 2008. The company develops technologies using Terahertz light for imaging and spectroscopy that have pharmaceutical, biomedical and military applications.
 
“We have had a long relationship with Dayton and with a number of the excellent Universities in the state,” says TeraView spokesperson Alessia Portieri. “There is a now a strong Terahertz network in the area. This was one of the key reasons why we selected Dayton to create our base.”
 
Over the past year, Teraview has conducted two Terahertz techonology training sessions through IDCAST, a facility that has over 30 companies and eight universities as its partners and is considered one of the most prominent advanced sensor research and development centers in the U.S.

“These have been well attended by people from across the U.S. and helped to raise the profile of Terahertz, Teraview and the capabilities of Ohio,” says Portieri. TeraView’s Dayton location supports Terahertz technology projects in surrounding states, including an ongoing project in Indiana.
 
TeraView has just raised $5.5 million of new investment, and more training events are in the works, including one aimed at the pharmaceutical industry. “We’ve just moved additional equipment into the facility and are starting to offer contract analytical services,” says Portieri. The company hopes to eventually see U.S. interest for TeraView applications rise to the level of its European demand.
 
As the Ohio-based operation shows progress in the US market, TeraView plans to add more jobs in the Dayton facility. Meanwhile, the company plans on subcontracting existing work to IDCAST teams.
 

Source: Alessia Portieri
Writer: Kitty McConnell

If you are one of dozens of Greater Cincinnati and Northern Kentucky residents heading to the Interactive portion of the huge South by Southwest festival in Austin next month, you’ll find a little bit of home when you get there.
 
Venture development group CincyTech has secured a #SxCincy Haus -- space in downtown Austin for members of the Cincinnati community to recharge themselves and their devices during the interactive portion of SxSW this year.
 
Four local digital pros will speak on panels. Krista Neher of Boot Camp Digital, Jeff Busdieker of Possible Worldwide, Marty Boyer of Possible Worldwide and Glenn Platt, professor of Interactive Studies at Miami University.
 
In addition, CincyTech, the Cincinnati USA Regional Chamber and the Greater Cincinnati Venture Association, in partnership with U.S. Bank in Cincinnati, is helping to sponsor a Startup Bus. Twenty-five to 30 software developers, Web designers and business development folks will ride the bus and work on startup company ideas, which they will pitch to judges in Austin. Find out more and register here: startupbus.com.

Cincinnati is one of only 12 cities across the country hosting the national Startup Bus program.
 
In Austin each day of Interactive, CincyTech will host a #SxCincy Chat featuring a different digital expert from Cincinnati beginning at 4 pm at the #SxCincy Haus. The chats will take place after panels end and before parties begin each day and give SxSW attendees a chance to unwind while networking with other Cincinnati professionals.
 
#SxCincy Haus will be open from 8 am until 8 pm from Friday, March 9, through Monday, March 12. Participants can hang out, get work done, snack and rest up.
 
Additionally, CincyTech will host a #SxCincy Haus Party from 8-11 pm, Saturday, March 10, featuring Cincinnati beer and chili, music from Cincinnati bands and the opportunity to mingle with Cincy’s consumer, brand and marketing experts.
 
On the morning of March 11, founder and CEO of Cincinnati startup Venturepax will lead a kayak and standup paddle board outing on Austin’s Lady Bird Lake. Anyone interested in getting some fresh air should meet at the #SxCincy Haus at 10 am Sunday, March 11.
 
“We’re promoting Cincinnati as a city that understands the future of consumer interactive,” says Carolyn Pione Micheli, communications director for CincyTech. "We have a large number of innovative thinkers at huge corporations, digital agencies and startup companies. SxSW is a great audience with whom to share our story.”


Source: Carolyn Pione Micheli
Writer: Sarah Blazak