South Florida Tech HubSouth Florida Tech Hub
19
Nov, 2023

By Nikki Cabus

Boca-based startup Guiltless to Go awarded funding on Entrepreneur Media Elevator Pitch reality show

Read Time 3 Minutes

South Florida startup, Guiltess To Go, pitched their startup on the reality show Elevator Pitch and received funding from one of the prestigious investors. 

In each episode of the show, entrepreneurs are challenged to pitch their business to a panel of investors. If the team of investors like what they hear, the business owner is invited into the board room to see if they can strike a deal. The entrepreneurs can’t see the investors or their reactions as they pitch.

After each pitch, the investors each vote whether they want to hear more from that entrepreneur or not. If the investors likes what they hear, the elevator doors open to reveal the boardroom, and the business owner/executive is invited into the board room to discuss further and negotiate. Contestants have the chance to walk away with life-changing funding, mentorship from the smartest minds in business and a personal and brand-defining moment.

Founder, Lucie Allaire, made her 60 second pitch in an elevator to the prestigious panel of investors which included Kim Perell, Serial Entrepreneur and CEO of 100.co, Marc Randolph, Co-founder and first CEO of Netflix, and Logan Stout, Keynote Speaker and Best-Selling Author of Grit Factor. The board room of judges wanted to hear more.

Guiltless To Go is a technology company that has developed an ordering platform and app that makes healthy on-demand ordering easy. The app allows users to filter, search, and order from nearby grocery retailers and restaurants by diet types, ingredients, allergies, calories, and price for either pick up or delivery so users can “order smarter, eat healthier, and guilt-less”.

Powered by AI technology, Guiltless To Go curates its own set of menus from nearby restaurants, applying specifications and modifications to menu items to create a wider variety of less guilty, diet-friendly options. This way, users can stick to their dietary restrictions or lifestyles with less thinking, more time, and fewer distractions.

After her pitch and a round of intense questioning, Lucie thought she had missed the opportunity when all investors decided to pass for one reason or another with the common feedback being that the startup was still a little too early. Lucie had requested $500k for 7% of the company.

As she began to walk back to the elevator empty-handed, Lucie was called back into the board room by Netflix Co-founder March Randolph.

Marc told Lucie, “For a $500k investment for 7% of the company, you are just too early, but I think you’re close to being able to prove the premise so I’d be happy to write a check for $25k at the existing valuation.” To which Lucie responded, “Absolutely! Let’s do it.”

“As Marc pulled me back into the room my heart jumped with hope and anticipation of what he would say next…then as he proceeded to offer me a smaller check, I was elated to be getting any offer at all considering a minute earlier I thought I was leaving without a deal,” said Lucie.

And just like that, a deal was made. Congratulations, Guiltless To Go and South Florida Founder, Lucie Allaire.

To watch the Guiltless To Go pitch and learn more about how Lucie scored an investment, read her interview with Entrepreneur staff writer here. 

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13
Aug, 2023

By Nikki Cabus

FAU Tech Runway announces the 16 startups of cohort 12

Read Time 3 Minutes

FAU Tech Runway® recently announced the 16 companies accepted to participate in the 12th cohort of its Venture Program.

FAU Tech Runway is a South Florida public-private partnership that serves as a hub to accelerate technology development and incubate startup companies. The Venture Program provides the most promising startups and talented entrepreneurs in South Florida with an opportunity to join a year-long program that offers resources from FAU’s Innovation and Business Development pipeline, entrepreneurial instruction, structured team-based mentoring, networking, marketing and capital-raising assistance, co-working space, events, intern support, and other vital programs.

Companies accepted into the Venture Program must have strategic alignment with FAU’s research focus areas, including drone technologies; educational technologies; environmental science; marine science; ocean engineering; neuroscience; healthy aging; big data analytics; artificial intelligence; machine learning; cyber security; sensing; and smart systems.

The 16 companies in Venture Class 12 are:

  • Clinical Fitness provides a safe environment where clients can be guided and educated by medical professionals in the proper use of gym equipment.
  • DashOne is a developing wearable tech that empowers athletes to improve their form and performance in real time through reinforcement cues and in-depth analytics.
  • DealHero, LLC is a web platform designed to connect military, veterans and first responders with businesses that support them by offering deals and discounts on their products and services.
  • Glowby Lightbulbs are patent-pending, long-lasting, rechargeable lightbulbs for places where running wiring is impossible or impractical. Install lighting fixtures anywhere and have easy, instant light that can last years before requiring a recharge.
  • Housing Nonprofit is a platform connecting renters with housing grants to purchase a home. Their technology analyzes the requirements for all incentives to buy a house and allow users to check eligibility for all programs via a single form.
  • HUMM STAFFING is an app platform that connects healthcare professionals with hospital shift work.
  • Integral Vista Solutions is a company that provides innovative technological solutions to improve the efficiency and profitability of residential service companies.
  • Kastaco connects talent such as models, actors, voice-over artists, singers and musicians with valuable opportunities.
  • MM COMMUNICA INC is a digital public relations firm dedicated to helping small businesses and personal brands improve their reputation and authority online.
  • Printed Patio uses concrete 3D printing to generate bespoke landscape and architectural features.
  • Puttrax 360 is golf’s first AR gaming and training experience for putting, where computer vision technology automatically tracks and scores every putt.
  • RideGuide is an app that provides a highly customized library to educate drivers on the proper use and operation of features and technology in their cars using videos, searchable manuals and how-to guides.
  • SecureTec ID is a software mobile application that uses biometric data gathered from contactless fingerprints for the community and policing. It also provides identification and additional intel, utilizing numerous databases, to promote and encourage safety.
  • Telly College LLC empowers students to maximize their college experience, by use of daily on- and off-campus events with voting and attendance stats.
  • Therapy in a Click aims to establish a 501(c)(3) nonprofit that uplifts mental health care accessibility by offering free virtual therapy sessions with licensed mental health professionals to high school students within Palm Beach County.
  • Wisp Energy LLC (WE) will employ a proprietary Dual Axis Wind Turbine (DAWT) using advanced AI and ML to improve wind turbine performance, adding variables to the wind interaction and yielding improvements of more than 30 percent in efficiency and/or ROI.

Venture Class 12 participants join a robust community of fellow entrepreneurs, mentors, investors, instructors and top-level support professionals.

FAU Tech Runway® is a public-private partnership formed to incubate and accelerate early-stage technology-based companies, under the purview of FAU’s Division of Research . Applications for the next cycle of the Venture Program will open in Fall 2023.

For more information on FAU Tech Runway® Venture Program, visit https://www.fau.edu/techrunway/tech-runway-venture-program/

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11
Apr, 2023

By Nikki Cabus

Entrepreneur’s reality show ‘Elevator Pitch’ features Florida startups; now casting for season 9

Read Time 5 Minutes

The first 60 seconds of a business pitch might matter more than anything else when trying to grab the attention of an investor. On a streaming pitch show brought to you by Entrepreneur Media, entrepreneurs are put to the ultimate pitch test on “Elevator Pitch.”

In each episode of the show, entrepreneurs are challenged to pitch their business, product and/or idea . . . on camera . . . in an elevator . . . to a board of prestigious investors such as former CEO of Netflix, Marc Randolph. If the team of investors like what they hear, the business owner is invited into the board room to see if they can strike a deal.

Speaking in front of investors of this caliber is already nerve wracking in itself, but the pitches are on a timer and must also be one minute or less. The entrepreneurs can’t see the investors or their reactions as they pitch. The entrepreneurs have to get it right the first time or their opportunity is cut short.

After each pitch, the investors each vote whether they want to hear more from that entrepreneur or not. If the investors likes what they hear, the elevator doors open to reveal the boardroom, and the business owner/executive is invited into the board room to discuss further and negotiate. Contestants have the chance to walk away with life-changing funding, mentorship from the smartest minds in business and a personal and brand-defining moment.

Launched in 2017, the show has since accumulated 208 million views and counting across YouTube, Facebook, Instagram and, EntrepreneurTV. After 5 1/2 years, 350 entrepreneurs have been accepted onto the show and 15 contestants were based in Florida just last season.

Here are some of those Florida entrepreneurs:

  • Rob Kornaherns, CEO of PowerPanel, an innovative solar power company (Ft. Lauderdale)
  • Edward McGovern from CERA, a critical response app (Davie)
  • Lisa and Mark Burginger from Quibits, an educational toy company that encourages creativity and building (Orlando)
  • Issac Hicks from SlipBot Inc., SaaS for reinsurance slip-processing (Miami)
  • Anthony Tranchida and Scott Mobley, Founders of  Grill Rescue, a grill brush company (Ft. Lauderdale)
  • Jared McCluskey and Alec Tremaine, The Mirror, open-source gaming creation and play platform (Miami)
  • Ashland Stansbury, Because Intelligence, a no-code platform to optimize Shopify messaging and product updates (Tampa)
  • Emily Alexandra Guglielmo, American Mermaid, planet- and ocean-friendly cosmetics (Orlando)
  • Gina Scorza, Dope Minerals, a magnesium and CBD cream that helps with body pains, cramps and headaches (Sanford)
  • Johnny Maghzal, Togal.AI, a construction estimation software platform that reduces tedious work from taking weeks to minutes (Miami)
  • Brandon Feinstein of Fit Oven, healthy and hot vending machine meals (Delray Beach)
  • Jarrod Stoldt of Skin the Tix, an innovative day spa (Melbourne)

More than $2 million were secured in deals on season 8 and some of those companies were from right here in South Florida. From Miami to Delray Beach, founders found themselves walking out with deals from investors who were ready to help fund and grow their companies. 

In a money-flowing episode, Jared McCluskey and Alec Tremaine from The Mirror were able to convince our investors that the metaverse is where the money is and what the difference between a “want to have” and “need to have” is. They took home $150k on $37.5 M valuation and an opportunity to work with speaker, marketing maven and investor, Swan Sit.

Sometimes a pitch moves investors to tears, and sometimes it moves them to dance. Togal.AI, has an innovative product that has their sights set on disrupting the decades-old construction industry. The company landed a deal for $50k on $30 M cap with investor Swan Sit.

Impressively, with offers from all three investors, Brandon Feinstein from Fit Oven took home a deal worth $100k for 15% and a chance to work with investor Swan Sit. She is on fire!

The largest of the deals closed was for our South Florida entrepreneurs was Isaac Hicks from SlipBot Inc.

Teaching moments abounded in this episode. When one investor suddenly changed their offer mid-deal, see how the Isaac responded under pressure winning over investor Marc Randolph, Co-Founder & Former CEO of Netflix for a deal worth $200k for 5% of the company at a $4 M valuation.

In a recent Entrepreneur Media article, Isaac explained, “We are solving a very simple problem in heavily regulated industries: There is this enormous paperwork burden and very highly paid people are spending hours a day doing tedious data entry tasks. At Slipbot, we have developed an intuitive little AI tool that turns this huge burden into a simple drag-and-drop.”

When asked what he plans to the with the investment funds, Isaac responded, “going to build out our technical team a bit more and step on the gas as far as product maturity is concerned. We have a huge vision for where we can take this technology, and the investment is going to add more fuel to that fire.”

With 5 1/2 years and 84 episodes under their belt, Entrepreneur Media is now casting for season 9. They are in search of good companies with a great business, product and/or idea with entrepreneurs that are dynamic and have interesting stories. The company must be active and have a professional look. Entrepreneurs who have products or services that are ready for investment and who have a specific plan for how that investment can help them grow are invited to apply to pitch.

If you are you a serious and passionate entrepreneur with a business, product, or idea that’s ready for the ultimate pitch – in an elevator – you can apply today. Although not everyone is chosen, we have found that even if a company is not selected they still are given great exposure from being on television. Are you ready to blow open those elevator doors and change your life forever!!

Isaac’s advice to any entrepreneurs on the fence about applying to pitch, ‘Do it, 100%. The worst case is that you get some good feedback and learn from it. The best case is that you get the money, validation and clout associated with having a titan of industry sign off on what you are doing.”

He continued, “It’s one thing to say ‘Here is my business’, and quite another to say ‘here is my business, and here is someone with monumental success who believes in what I’m doing.’ The key to winning in this game is learning and growing as fast as possible. If the thought of going on a show like this scares you, and if you don’t feel ready, that means you should probably go ahead and do it.”

Applications are now open for Entrepreneur Media’s Elevator Pitch Season 9 – APPLY HERE!

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15
Mar, 2023

By Nikki Cabus

BCEx and Tech Hub celebrate Black Founders at exclusive annual brunch

Read Time 3 Minutes

The Broward College Entrepreneurship Experience, or “BCEx,” and South Florida Tech Hub collaborated to host the 2nd Annual Black Founders Brunch in an effort to bring together black entrepreneurs across the region to support stronger relationships in the back startup community.

The exclusive event was held on Saturday, February 25th at the Beach House in Pompano Beach with approximately 35 startup founders from across all three South Florida counties in attendance.

The guest speaker of the morning was BCEx Faculty Coordinator and Associate Dean (AD) of the Institute of Public Safety at Broward College, Rudy Jean-Bart. He is also the college’s Chair of the Advisory Council for the Advancement of Diversity, Equity, (ACADEI) and Inclusion. The Advisory Council for the Advancement of Diversity, Equity, and Inclusion (ACADEI) oversees the College’s focus across seven areas— accountability, benchmark best practices, cultural competence, communication and discussion, training and education, policy/procedure/practice, and community outreach.

A former African American history professor, Jean-Bart, was exposed to the meaning of activism at a very young age. He has always been at the forefront of issues such as racial equity and social justice, participating as a keynote speaker and panelist in many events. Jean-Bart spoke to the founders on the topic of ‘Generational Trauma to Generational Wealth.’

Jean-Bart closed his speech out by saying, “It is important that people believe in the power and the ability of Black founders.”

This quote resonated with attendees and spoke to the importance of supporting, celebrating, and elevating minority founders as we continue to grow the tech ecosystem in South Florida. As an ecosystem, we must be intentional about inclusion of our founders from all corners of the region ensuring inclusion and overall innovation for the region.

According to a recent Tech Crunch article, “In total, U.S. Black founders raised an estimated $2.254 billion out of the $215.9 billion in U.S. venture capital allocated last year. That’s about 1%, a slight drop from the 1.3% raised in 2021.” It seems like no matter the efforts of organizations across the country working to diversify funding and across all marginalized groups of founders, that black founders continually remain around the 1% mark for funding. This percentage has stayed stagnant even though the overall VC numbers continue to rise.

Assistant Director of BCEx, Quinella (Queen) Davis, told South Florida Tech Hub that these events are crucial to ensuring strong connections in the black founder community, but also making sure they have connections to industry organizations such as Tech Hub and are able to see themselves in other successful entrepreneurs and leaders such as keynote speaker, Jean-Bart.

“I’d like to give a special thank you to Rudy Jean-Bart for delivering an impactful message, sharing valuable information about generational wealth, and helping our founders discover ways to think differently about the businesses we develop to have an everlasting presence in the tech ecosystem,” stated Davis.

BCEx helps Broward College students, faculty, and staff cultivate their entrepreneurial mindset and turn their ideas into reality by launching high-quality businesses at little-to-no cost. Started in 2018, BCEx began assisting participants innovate, create, and prepare for the future of work through mentorship, coaching, funding, and training.

Participants in BCEx receive support through six main strategies: Campus Accelerators and Events at Broward College, Student Learning at Broward College, the Innovation Hub at Broward College, LaunchBC – the BCEx business accelerator, the J. David Armstrong, Jr. Student Venture Fund, and Partnership Opportunities with Broward College.

The next Ideation Phase cohort is a student-community friendly introduction to the entrepreneurial mindset, customer discovery and business model canvas. Students, faculty, staff and community will develop or refine your business idea by focusing on your customer segment and value proposition while finding your WHY. This 4-6 week virtual program will prepare you for the next phase while helping you articulate a well-developed idea.

To learn more about the next cohort that begins March 21st, visit https://forms.gle/ToscjC3CfTDT6M1k7

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22
Oct, 2022

By Nikki Cabus

$1M in grants were awarded to underrepresented founders; 4 in South Florida

Read Time 3 Minutes

Just in time for this year’s Global Entrepreneurship Week celebrations (November 14 – 20, 2022), the recipients of the Antares REACH Grant Program were announced and four South Florida startups made the list!

Presented in partnership with Hello Alice and the Global Entrepreneurship Network (GEN), Antares Capital will provide small businesses grants to help them grow and scale. This initiative awarded $20,000 grants totaling $1 million to 40 historically underrepresented entrepreneurs including women, people of color, military-affiliated, persons with disabilities, or LGBTQ+.

Antares Capital aspires to increase representation in business by leveraging the organizations” financial resources and leadership skill sets to provide capital and support underrepresented entrepreneurs. The funds will support businesses as they prepare for the next stage of growth.

“Each grant recipient underscores REACH’s core mission of supporting diverse and historically underrepresented founders and ensuring they have the resources needed to expand their businesses,” said Mary (Gaede) Rose, managing director and head of the REACH program at Antares.

“We are thrilled to support these companies and enhance the flow of capital at a foundational level, expanding diversity in the ecosystem of business on the pathway toward private equity.”

This announcement comes just one year after women-founded companies received less than 2 percent of capital invested in VC-backed startups in the US, and Black-owned startups received just over 1 percent. REACH aims to address this discrepancy by expanding access to capital for these historically underrepresented groups at their earliest foundational stages.

Of the recipients, which were chosen from a pool of over 100,000 applications, 90 percent are businesses led by individuals of color, and 88 percent are led by females or gender non-conforming persons. Companies from over a dozen varied industries led by founders from 4 distinct generations are represented. The founders will use the grants to introduce products, expand their regional presence, and further promote a positive social impact within the communities in which they operate.

The four South Florida startups who made the list are:

  1. 2ndVault | Fort Lauderdale, FL | Jaclyn Strauss & Nicole Mayer
  2. Caribshopper | Davie, FL | Kadion Preston
  3. Rohi’s Readery | West Palm Beach, FL | Pranati (Pranoo) Kumar
  4. Tappas | Miami, FL | Sandra Portal-Andreu

Jaclyn Strauss, a licensed CPA in Florida for over 15 years, was given a second chance at life after experiencing a life-threatening condition while giving birth to her second child. Jaclyn has taken this second chance and allowed it to fuel her passion for helping others through the mission of tech startup 2nd Vault.

“Receiving the REACH grant is instrumental in enhancing our current digital vault by allowing us to further financially invest in our robust technology solution to cater to the business customer that serves hundreds, if not thousands, of clients daily,” said Strauss. “2ndVault could not be more grateful that Antares realized our value and, more importantly, the impact that we will have on the greater community. Thank you to both Antares Reach and Hello Alice. You have provided two female co-founders with a huge spark to continue fueling their passion.”

To qualify, businesses must have a viable product or service with less than $5M in annual revenue and they must be operated by entrepreneurs of historically underrepresented groups. In addition to the $20,000 grant, all recipients will be eligible to receive an additional $5,000 grant after completing a post-grant report demonstrating how the grant has impacted their business.. They will also be given access to professional development opportunities through Hello Alice.

 

 

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Boca-based startup Guiltless to Go awarded funding on Entrepreneur Media Elevator Pitch reality show
FAU Tech Runway announces the 16 startups of cohort 12
Entrepreneur’s reality show ‘Elevator Pitch’ features Florida startups; now casting for season 9
BCEx and Tech Hub celebrate Black Founders at exclusive annual brunch
$1M in grants were awarded to underrepresented founders; 4 in South Florida