February 2, 2012 by
chrisOne of our goals for 2012 is to provide more educational offerings and practical business advice geared to our early-stage members. To accomplish this, we’ve been hard at work developing a series of in-depth workshops covering the essential business processes and terminology that startups need to get right. These programs combine some of our existing content with new practices like Lean Startup and the Business Model Canvas.
The new offerings include:
• Customer Discovery, a concentrated three-session program aimed at helping tech startups determine customer base, value proposition, market size, competition, distribution channel, revenue streams and more.
• Executive Summary Workshop, a two-session program for entrepreneurs struggling to create a captivating one-pager to describe business to potential investors and partners.
• Financial Literacy for Startups Workshop to help educate startups on the finance lingo they will need to describe the economics of their business and build a financial model.
• Investor Readiness Workshop to prep entrepreneurs for the investor pitch, equity versus debt, term sheets and due diligence.
• Sales Liftoff Workshop, a two-session program designed to help company founders get the first sale and create a repeatable sales process.
Customer Discovery and the Executive Summary Workshop have already launched to rave reviews from participants (check the Events Calendar for upcoming dates). We are now putting the finishing touches on some of the other programs, which will include more opportunities to learn from seasoned veterans. For example, we will utilize our mentors, graduates and member company CEOs, connecting them with participating companies on a specific topic to help them drill into their business/business model.
Want to meet with ATDC staff to discuss your startup? Team members have office hours available by appointment. New and prospective members are invited to attend the next information session on Feb. 14 to learn more about membership benefits and qualifications.
Jennifer Bonnett is an ATDC Community Catalyst and the Chief Chick at StartupChicks.
If a group of Georgia Tech graduates has their way, a bike-sharing program developed on campus will someday be available throughout Atlanta, providing commuters with a low-cost and flexible transportation alternative.
Founded in March 2010 by Kyle Azevedo, Siddharth Doshi, Koji Intlekofer and Yuriy Romaniw, viaCycle aims to make bikes available for communal use without the pricey infrastructure that has plagued similar programs in other cities. Since the launch of a six-month pilot program at Georgia Tech in November, the ATDC member company has quadrupled its fleet to include 40 bicycles and racked up more than 450 users.
“We’ve been thrilled with the amount of people signing up,” said Azevedo, the company CEO. “The bikes normally get used a couple times a day, but we expect that to pick up as the weather improves. We obviously want this pilot program to succeed so we can turn it into a long-term, sustainable business.”
It works like this: the bicycles contain a mounted electronic lock system and GPS connection that allows registered Georgia Tech students, faculty and staff to reserve a bike. Unlike many other bike sharing programs that require specialized bike racks or kiosks for payment, viaCycle users can lock or unlock a bike simply by proving their user information through a text message or phone call. The technology allows administrators to limit the usage area and provides detailed trip tracking. ViaCycle worked with Georgia Tech Parking and Transportation Services and the City of Atlanta’s Office of Sustainability to launch the pilot program.
The startup began as a research project back in 2008, when viaCycle founders applied for – and lost – a $100,000 Ford Foundation grant. A year later, they revamped their bike sharing proposal and submitted another Ford application, this time for a $50,000 grant. They won that prize.
“We sat down and designed a bike sharing system from the ground up that really improved on the drawbacks that were out there, in terms of the costly infrastructure,” said Azevedo.
So far, the five-member viaCycle team has operated solely off of winnings from grants and business competitions. But as they turn their attention to the future, Azevedo said they will begin looking for investor financing and continue utilizing ATDC resources and networking opportunities. They are currently discussing bike sharing programs with Atlantic Station and Midtown Alliance.
“In the past few years, we’ve seen this model of collaborative consumption take off in the business world,” said Azevedo. “Atlanta actually has a very strong and passionate cycling community, so I think bike sharing could be really successful here.”
A leading expert who has helped numerous Fortune 500 companies optimize their business processes, Radhika Subramanian knows a thing or two about entrepreneurial success. Now serving as CEO of Emcien – a 2008 graduate of ATDC – Subramanian will share her tips and insight at Entrepreneur’s Night this evening. Running from 6 to 7:30 pm tonight, the event provides young startups with the chance to hobnob with other industry players and hear success stories from a distinguished ATDC entrepreneur.
“I’ll discuss the entrepreneur’s journey, as well as lean startups and pivots,” said Subramanian. “A pivot is a way to change the business based on how the market/customers are responding. This is critical to convert a startup to a successful business.”
Founded in 2002, Emcien provides pattern-based analytics applications designed to solve specific business problems. Emcien’s innovation originated when Dr. Roy Marsten, a leading computational optimization expert, solved a tough problem for a leading auto manufacturer while serving as a professor at Georgia Tech in the 1990s. Subramanian said ATDC resources helped aid the company’s eventual success, providing them with crucial connections and mentors.
With nearly 20 years of entrepreneurial experience under her belt, Subramanian has a little more advice for young entrepreneurs.
“A startup is a very difficult task and is not for the light-hearted,” she said. “Pick your team wisely so that you can say, “Mission accomplished!”
Entrepreneur’s Night takes place the third Thursday of every month in ATDC Community Room 235. The networking event is free for ATDC members. Register now to attend.
In recent months, Innovolt has expanded in staff size and market reach, secured licensing agreements with several prestigious Fortune Global 500 companies, and debuted a new brand and streamlined website. And if company leaders have their way, the Atlanta-based startup will see even more growth and success in the new year.
“2012 is poised to be another year of growth for Innovolt,” said Jeff Spence, president and COO of Innovolt. “We are looking at ways to expand globally and further penetrate OEMs (original equipment manufacturers).”
A 2009 graduate of ATDC, the company provides patented electronics protection for hundreds of millions of dollars of installed systems, mainly in the commercial and industrial markets. Innovolt’s core technology is the brainchild of company founder Deepak Divan, a faculty member at the School of Electrical and Computer Engineering at Georgia Tech. While working in the ATDC lab in 2006, he developed a microprocessor-driven system to proactively recognize potential power disturbances that damage electronics. In other words, the technology protects electrical equipment not just from lightning, but from routine power disturbances such as sags and surges that cause equipment fatigue.
The young company is now licensing its technology in markets ranging from consumer electronics, medical technology, cable and satellite, to HVAC and control systems. A burgeoning client list includes top Fortune Global 500 firms Ricoh, Toshiba, Konica Minolta, Katun and ECi OMD.
With an affordable, functional technology that applies to a wide range of industries, Innovolt anticipates even more client growth in the near future.
“We expect to see continued expansion into the cable, medical, cloud and appliance market-segments, which will have a significant impact on financial growth in the months to come,” said Spence.
The new year is already shaping up to be a good one for Kishore Eechambadi and Raj Mehra of ATDC member company The Coupon Doc. The Atlanta-based duo is packing their bags and heading to Chicago to join the inaugural class of Healthbox, a new business accelerator focused solely on healthcare.
In September, The Coupon Doc founders connected with Healthbox program organizers at an ATDC-sponsored networking event. On Monday, the startup will join nine other hand-picked companies at the three-month program, which includes $50,000 in seed capital, healthcare-specific learning and networking opportunities, and an “Investor Day,” where participants will pitch their businesses to a targeted group of health-focused investors.
Not a bad opportunity for an early-stage startup like The Coupon Doc. Launched only six months ago, the company aims to provide an easy-to-use, centralized repository that gives consumers access to manufacturer discounts on prescription and OTC medications.
“Healthbox is very well-connected in the healthcare industry, so we want to make the most of those connections and raise enough capital to make The Coupon Doc a sustainable venture,” said Eechambadi, who previously conducted microfinance work in India and was a strategy consultant at Deloitte. “We think there is a huge untapped market for the product that we’re offering.”
The idea for the startup came about in the spring of 2011, when Mehra – whose family worked in the pharmaceutical industry – saw an opportunity to provide consumers with a more direct and accessible route to discounts. The site, which is still in beta testing, will allow individuals to search for medicine and find all available coupons and discounts as well as a cost comparison to its competitors. In addition, users will be able to view forums and reviews for other medicines and search by conditions ranging from the common cold to diabetes and epilepsy.
“Most pharmaceutical companies rely on doctors’ offices to pass on discounts, so consumers are really isolated to what the doctor prescribes and are uneducated on alternative medications, prices and associated discounts,” said Eechambadi. “Our site will save consumers money on their prescriptions and OTC medications, as well as give them the opportunity to interact with others to share knowledge and experiences.”
After their meeting in September, The Coupon Doc had to beat out hundreds of applications from 26 states and eight countries before being named one of the 10 finalists for Healthbox.
“I give full credit to ATDC for giving us the chance to interact with Healthbox staff,” said Eechambadi. “This is an amazing opportunity.”
December 22, 2011 by
kateIt’s been a good year for ATDC. From the staff additions of our new Entrepreneurs in Residence (EIRs) and Community Catalysts to the creation of Flashpoint, there have been some great developments throughout 2011. And the New Year is likely to bring even more growth.
As you might have heard, we will be launching a new membership level starting Jan. 3. “ATDC Select” will include startups that have been screened and selected based on readiness for acceleration and fit with our services and staffing. These companies have identified scalable business models and are ready to take advantage of our more focused, individual support, which includes custom access to EIRs, mentors, graduate companies and sponsors, as well as potential investors and strategic partners. At the same time, we will continue to welcome and support all technology entrepreneurs in Georgia through quality “coaching, connecting and community” programs designed to help them build and launch successful companies.
From Startup Circles in a range of geographic locations to Lunch-N-Learn workshops and a monthly Cowork@ATDC collaborative working session, there will be plenty of opportunities to network with other entrepreneurs and learn from seasoned veterans next year. Want to meet with ATDC staff to discuss your startup? Team members will have office hours available by appointment starting the first week of January. New and prospective members are invited to attend an information session on Jan. 10 to learn more about membership benefits and qualifications.
Of course, we are most proud of the achievements of our member companies and graduates. We salute the hard work of all ATDC entrepreneurs and look forward to providing members with strategic entrepreneurial advice and key business connections in the New Year. ATDC offices will be closed from Dec. 26 through Jan. 2. Happy holidays and see you in 2012!
December 15, 2011 by
kateFrustrated by statistics revealing how few people follow the dietary advice of their health care providers, Jiten Chhabra began researching ways to address the problem. A physician with a master’s degree in human computer interaction, Chhabra took a unique approach – one that focused on providing on-the-spot nutritional decision support at cafeterias and restaurants. Following three years of research and IT development at Georgia Tech, his solution became a reality. Usable Health was launched in early 2010, providing menu-personalization software to generate diner loyalty.
“Data showed that our menu personalization application can help people make better eating choices, while also making restaurant operators more money,” said Chhabra. “That is when I knew there was a sustainable business here.”
Usable Health provides an in-restaurant kiosk system – called a SmartMenu – that will customize meal recommendations based on the customer’s nutritional goals. An interactive computer screen displays a detailed description of each item on the menu, including photos and details on all nutritional content. The technology then lets guests tailor each meal to meet their dietary goals by offering a series of recommendations based on their nutritional preferences. For example, if someone is looking for a low-carb or high-protein meal, the SmartMenu will produce a list of on-demand suggestions.
Currently, 22 restaurants feature the self-service kiosks, including Tin Drum, a quick service establishment, and the Fresh To Order fast casual restaurant chain. Most locations are in the Atlanta area, but as more restaurants strive to meet new federal nutritional guidelines and provide a healthier dining experience, Usable Health is seeing increased interest in its SmartMenu technology. The ATDC member company hopes to expand into other restaurants and major nationwide chains in the near future.
“Right now we are busy with product development and in forming channel partnerships,” said Chhabra. “Web and mobile apps are coming up in collaboration with our partners as well. An upcoming SmartMenu feature I am looking forward to is diner recognition, which learns a diner’s ordering history and makes recommendations based on that. It is kind of like how Netflix makes movie recommendations…but better.”
It’s the most wonderful time of the year! To celebrate the holiday season and coming New Year, ATDC, StartupChicks, StartupDrinks and Startup Riot cordially invite you to a festive party bound to fill you with good cheer.
Held on Dec. 14 at the Georgia Tech Hotel & Conference Center, the free event is expected to draw hundreds of area entrepreneurs – providing plenty of networking opportunities for young startups.
“Startup success is largely dictated by one thing: luck,” said event co-host Sanjay Parekh, founder of Startup Riot, a day-long conference and career fair event held in multiple cities. “There are a lot of things that can nudge luck in the right direction to negate any bad luck. Working hard and being smart are clearly two of the ways, but getting help is another great way of influencing your luck. By getting out to these types of events, you end up meeting different people that will give you advice and make introductions that will help you succeed.”
Although ATDC hosts a holiday party for members every year, this is the first time they have partnered with other organizations to organize an event for the larger startup community. There will be a cash bar, holiday music and hors d’oeuvres.
Don’t miss out on the chance to eat, drink and be merry while mingling with other startups. Register now for the entrepreneurial party of the season.
Torn between the Kindle and the Nook? Or whether WordPress is a better blogging platform than Drupal? ATDC member GetComparisons aims to take the pain out of your decision-making process by providing a one-stop-shop for product comparisons.
Launched in late April, the free service allows consumers to sign up and search the site for existing reviews or request or create a comparison of their own. Comparisons show how many times the product has been viewed and the number of positive and negative ratings it has received, along with a detailed explanation of the pros and cons. It’s much like Amazon’s review section, but with the added functionality of feedback, blogs, forums and ratings.
“People research product comparisons all the time, but they often have to sift through various sites to find what they’re looking for,” said GetComparisons founder Akshay Arabolu. “This provides one platform that allows users to easily find – and discuss – meaningful comparisons.”
A former investment banker specializing in the software sector, Arabolu developed the idea for GetComparisons last year while researching different software and applications for his own potential entrepreneurial venture. Frustrated by the inability to quickly find side-by-side product comparisons, he came up with his own solution – and the startup was born. It took months of research, professional outreach and work with various web developers and designers before the site was ready to go public earlier this year.
Since the spring launch, some 1,200 people have signed up to review more than 500 products. Though mostly focused on tablets, smartphones and productivity tools, comparisons range in topic from religion to the perks of living in various cities. Now focused on the development of a stronger brand and identity, the three-person startup plans to utilize ATDC’s resources and networking opportunities as they move into their next phase of growth. They also hope to eventually move to sponsored content.
“From a product standpoint, it’s universally liked,” said Arabolu. “However, it’s been challenging because we built the product without picking a niche and we’ve since learned that the direction in which you point your product is very important. Because people are able to compare anything from religion to web servers, that lends itself to different audiences and has made it more difficult for us to grow within those communities. So going forward, we’ll be working on solidifying our brand, presence and user base.”
November 17, 2011 by
kateRudolph the Red-Nosed Reindeer. Frosty the Snowman. Chippey the Elf?
An animated special set to air on CBS next Friday could be the next big holiday classic. At least that’s the hope of the Atlanta-based animation studio behind the creation and production of An Elf’s Story.
“We believe the story will become a Christmas classic,” said Chad Eikhoff, director, producer and writer of An Elf’s Story and the founder of TRICK 3D, an ATDC member company. “We have broken some new ground with our approach to the stereoscopic 3D production, so the cutting-edge animation, original music and heartwarming story could really captivate a lot of people.”
Based on The Elf on the Shelf, the best-selling children’s book and character, the new animated feature has been several years in the making. The book was written and self-published by Carol Aebersold and her daughters, Chanda Bell and Christa Pitts. TRICK 3D’s involvement began in 2007, when Eikhoff – who attended high school in suburban Atlanta with Bell and Pitts – was tapped to develop an interactive website for the book. When he learned the Aebersold family was also thinking about developing a TV special, Eikhoff and Tara Burtchaell, TRICK 3D’s Executive Producer, pitched TRICK 3D for the job with Eikhoff directing, producing and writing and Burtchaell producing.
In spring 2010, Big Canoe Entertainment was formed to develop the animated program. The production company included Aebersold, Bell, Pitts, Eikhoff and Burtchaell, as well as independent film producer Kenneth Waddell and Catherine Scorsese, daughter of director Martin Scorsese. A few months ago, CBS executives screened a final version of “An Elf’s Story.” And the rest is history in the making!
“Elf on the Shelf was one of our first clients, so when the brand took off, we were in a position to start talking about a Christmas special” said Eikhoff. “The show features new 3D animation techniques that we developed using full-set constructions, more immersive 3D cameras and a new process for stereoscopy…Most of the new holiday specials tend to be hyperkinetic and in your face with comedy and action, but with The Elf on the Shelf: An Elf’s Story there is laughter and energy, but we also focus more on telling a timeless story that has a lot of heart and character.”
The program focuses on Taylor McTuttle, a 9-year-old skeptical about Christmas. His two younger sisters adopt an elf they name Chippey, who has to help Taylor learn that “Christmas is what we carry in our hearts.” In the process, the elf loses his Christmas magic and Taylor has to figure out a way to help Chippey get it back.
An Elf’s Story airs on CBS at 8:30 pm EST on Nov. 25. DVD and 3D Blu-ray will be available the following day. Prior to the broadcast, there will be a screening of the show hosted by Wayne Brady at Atlanta’s Fox Theatre this Sunday, with all proceeds benefiting Children’s Healthcare of Atlanta. Tickets are available through the Fox or Ticketmaster.
Founded in 2006, TRICK 3D specializes in the creation of commercial and original entertainment, providing services including motion design, stereoscopic 3D, 3D animation and visual effects compositing. Following in the success of An Elf’s Story, Eikhoff said the company plans to continue focusing on commercial work, as well as original and creative IP in the future.