Accelerator Class Overview: OCEAN 2018
OCEAN is a Cincinnati-based accelerator with office space in the bustling startup neighborhood of Over-The-Rhine. One of OCEAN’s chief backers is Crossroads Church, making it primarily faith-based. The mission of the Accelerator is to bring God into marketplace and to back startups that have an orientation around faith. This is not to say that the companies that are in each class of the accelerator have some Christian or church goal in mind, but that the entrepreneurs running them have a focus on family, community, and God.
OCEAN was founded by three stalwarts of the Cincinnati startup community: Tim Brunk, Chad Reynolds, and Tim Metzner. The Accelerator also calls on numerous business leaders in the area as mentors and as members of the board. Participants in the accelerator receive $50K (founder-friendly convertible note) and get to work from a brand new office space that opened in July 2017. The Accelerator is fairly new, this being only the fourth class in so many years, but it has already graduated 25 companies which have gone on to raise another $7 million in startup financing. OCEAN’s five month program focuses on three pillars: Value Proposition, Revenue Model and Investor Readiness. Each startup will also receive free legal services from Frost Brown Todd.
This year’s class was selected from nearly 200 applicants and is exceptionally strong with several already post-revenue. The class is geographically diverse and two thirds of the companies include female and/or people of color founders. The Demo Day for this class will be held on Tuesday, April 24th, 2018.
Bid Ops is a cloud-based software platform for procurement professionals to run live auctions for performance-based vendor contracts, cutting the strategic sourcing cycle from months to hours. BidOps tracks and measures a buyer’s supplier performance, allowing leading buyers to reward ROI-driving technology and sustainable innovations. BidOps grows a seller’s opportunity pipeline by responding to RFPs. BidOps has a formula they use to summarize their company: Strategic sourcing + total cost of ownership = how leaders in enterprise and government buy the next big thing.
BidOps already has customers and they have a fleet of well known advisors. The founding team meet at the intersection of technical, industry, and entrepreneurial experience.
Brightlamp is a computational medicine company that produces consumer ready software for medical diagnostics. The Company’s mission is make the world medically mobile by reforming the way individuals interact with technology and their health. The goal is to bring healthcare into the hands of everyday people by allowing them access to simplistic diagnostic services for a fraction of today’s costs. In other words, Brightlamp wants to put medical devices into consumers phones.
The product that is currently in development for Brightlamp is a device that has a method of detecting concussions using the reflexes of a person’s iris. This method only requires a camera with a flash (most smart phones qualify) in order to take a measurement. These measurements only last five seconds and this method is currently being tested.
Fletch is an application built for colleges to help better retain students. A Fletch Pebble is mounted onto the wall of a lecture hall or classroom and can detect up to 500 student’s phones at one time, instantly taking attendance. This attendance measuring mechanism helps retain students for the long-term, which is a major issue for colleges, as nearly 50% of college students do not graduate after enrolling full-time.
Currently, Fletch has 8 colleges utilizing the Company’s services. These colleges have seen huge gains, such as a 215% increase in support services, 300% increase in math tutor usage, and a 21% increase in class attendance.
GetSaw designs commonly-needed communication materials quickly and cost-effectively. The Company takes raw content and create fully-finished design options automatically using its AI-based software. What TurboTax did for filing taxes, SAWA can do for simple designs.
Kai.coach is building a better coaching and leadership platform that exists totally in your digital world, starting with personal trainers. The Company uses real time communications to guide users and drive accountability with artificial intelligence. By blending the empathy and personality of a human coach with the power and scale of modern technologies like machine learning, sentiment analysis, and automation, Kai.coach can provide personal attention at massive scale.
This Company is where the Internet of Things and Artificial Intelligence meets energy pipelines. Leveraging its IoT mIQrAwareTM devices, customers get predictive analysis on pipelines. Through the Company’s six factor analysis, the most important factors in pipeline longevity are captured, data transmitted, and critical decisions made.
Utilizing its flagship, autonomous mIQrAware™ devices, the Company’s customers are empowered by instant notifications and easy to understand alerts. Merged with proprietary Artificial Intelligence models, miQroTech can then predict leaks and failures before they happen. This technology can be utilized to minimize leaks, pinpoint leak location, and reduce cleanup costs.
Natalus is the first hyperefficient mapping solution, providing real-time data of the occupancy of any space or place, creating better experiences and seamless automation. The Company uses integrated LiDAR solutions to provide businesses with real-time geospatial insights by mapping significant spaces & places. Its first market is the parking industry providing businesses with insights and drivers with a seamless experience.
The Company is an additive manufacturing hardware startup developing hardware that unlocks the true potential of 3D printers. R3’s technology eliminates printer inefficiencies that inhibit the creation of more prints in less time, preventing printer service firms from maximizing revenue.
The Company has been around since 2013. R3 is creating hardware that reduces print times by over 70% and develops new systems to fully automate the print process. The Company has achieved multiple patents, 10,000+ hours of research and development over 3.5 years to create optimal products, and 200+ prototype iterations across 3 key products. R3 Printing is focused on pushing boundaries and bringing to market tech that makes 3D Printing faster, better, and easier.