Daytona Beach, FL - Five Volusia County-based startup companies have been selected to receive seed funding, mentoring and entrepreneurial support as part of a joint effort by Embry-Riddle Aeronautical University's (ERAU) Research Park and Central Florida nonprofit FireSpring Fund.
FireSpring Fund, a 501(c)3 with the mission to bridge the funding gap and help companies start, grow and stay in Central Florida, was selected by ERAU in February to receive $1 million to invest in promising new technology companies to help them jump-start a thriving Volusia County innovation corridor with high-quality and high-paying job opportunities.
“Embry-Riddle’s commitment to supporting forward-thinking, cutting-edge technology that not only starts here in Volusia County, but stays here, is something that is exemplified by these companies and their founders,” said ERAU Senior Vice President of Administration and Planning Rodney Cruise. “We are excited to support these companies. In addition to unique opportunities for the founders, as these companies grow they will become opportunities for high-paying jobs in our community.”
After a nearly 3-month review process, the winning companies were announced Wednesday, May 10, at the Starter Studio Demo Day event at Dr. Phillips Center for the Performing Arts in Orlando. The companies will receive $25,000 each to kick-start their ventures.
Winning startups include companies founded by Embry-Riddle students and graduates, top-place finishers in the university’s Launch Your Venture Competition held in April, and companies that are part of the John Mica Engineering and Aerospace Innovation Complex (MicaPlex) in the university’s Research Park Technology Business Incubator.
The winners are:
- Embedded Control Designs LLC – Founded by Daytona Beach Campus graduate and now master’s student Michael Campobasso and Shane Stebler, a Daytona Beach Campus graduate, Embedded Control Designs produces drones equipped with a unique communication architecture – swarm technology — that empowers farmers who need reliable and efficient crop-monitoring solutions by providing an operationally fault-tolerant data collection platform that eliminates the need for multiple certified drone pilots. It recently placed 2nd in ERAU's Launch Your Venture Competition held last month.
- Myers Devices LLC – This company was founded by Kristi Myers, a practicing nurse-anesthetist with a patent pending for a medical device to help prevent healthcare-associated infections. Her device, the Yankaddy, is a disposable holster to hold the Yankauer Suction, the most widely used suction device and an identified source of contamination. The Yankaddy will allow medical providers a one-handed method of use and a storage location that is clean, safe and convenient. In the U.S., nearly 2 million people are victims of hospital-associated infections. That number results in 99,000 deaths and adds $30 to $45 billion to the nation's healthcare costs. The Myers Devices’ target market is every healthcare setting that uses the Yankauer Suction instrument. The company also is part of Embry-Riddle Research Park’s MicaPlex Technology Business Incubator.
- Censys Technologies Corporation - The company founders, former Daytona Beach Campus Embry-Riddle student Payal Chaudhari and current Embry-Riddle seniors majoring in Aerospace Engineering Trevor Perrott and John Lobdell have strong technical backgrounds in Unmanned Aerial Systems (UAS). They are using these skills and experience to develop an unmanned aerial system with Beyond-Visual-Line-of-Sight capabilities. Its remote sensing will streamline the flow of data from acquisition to action. The system is being designed to support other UAS service companies, agriculture and the petroleum industry. They have trademarked the name “DRAGONSi™” and will be focused on developing the vehicle and system. The company also has secured $50,000 in outside contributions and is part of Embry-Riddle Research Park’s MicaPlex Technology Business Incubator.
- Weintraus LLC – Created by Daytona Beach Campus Commercial Space Operations graduate Scott H. Weintraub, this company is being established to provide satellite servicing, space debris mitigation, in-orbit refueling services, and perhaps someday, asteroid mining. Its current project is the Hercules Space Tug, which will have the ability to fly in space and move small spacecraft from one location to another. The company also recently placed third at the Launch Your Venture competition and is part of Embry-Riddle Research Park’s MicaPlex Technology Business Incubator.
- Sensatek Propulsion Technology – U.S. Marine Corps veteran and candidate for an M.S. degree in Aeronautics at Embry-Riddle Worldwide Reamonn Soto founded Sensatek Propulsion Technology Inc., which earned the first-place nod and a check for $10,000 at the university’s Launch Your Venture competition. Sensatek licenses patented technology to manufacture ceramic sensors that wirelessly measure the health of gas turbines, predicting failure before it happens and letting operators know that maintenance should be done. Owners of gas turbines will see lower costs, resulting in savings that may be measured in the millions of dollars. Dr. Mark Ricklick, Associate Professor of Aerospace Engineering at Embry-Riddle’s Daytona Beach Campus, serves as an advisor to the company.
“All of these teams embody 3 of the most important attributes we look for, which are innovation, technology and strong teams,” said FireSpring Fund Executive Director Donna Mackenzie. “I am so excited to work with them through this 6-month accelerator program and beyond.”
Find more information about the ERAU Technology Business Incubator here.
Find more information about FireSpring Fund here.
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Copyright Southern Stone Communications 2017.
