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XMeet the 10 Startups in Techstars' 2021 Space Accelerator Class
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
Techstars' Space Accelerator took off this week with its third class of space-related companies that make everything from AI-powered smart cameras to technology that can anticipate celestial collisions.
The 10 startups selected for the competitive four-month program are based across the U.S. and Australia and will work with Techstars on a mostly remote basis.
All are developing technology with multiple uses in space and will receive a $120,000 investment in addition to access to Techstars' expanding network of mentors.
That network includes aerospace experts at the Pasadena-based NASA Jet Propulsion Laboratory. Participating companies include Lockheed Martin, Arrow Electronics, SAIC and Israel Aerospace Industries.
"Alumni from our previous cohorts are launching space systems and infrastructure, raising tens of millions of dollars in venture capital as well as receiving lucrative contracts from both government and commercial customers," said Jonathan Fentzke, the program's managing director.
The program will culminate in a demo day on Sept. 2 where the startups will show off their work in hopes of winning potential investors or clients.
Fentzke noted that while no companies in this year's cohort are based in LA, Techstars still has partners mentors and investors based here.
"As it turns out the four companies in California out of 10 are not based in L.A. today, but will likely have a presence over time," Fentzke told dot.LA.
Here's a look at the 10 companies selected for this year's Techstars Space Accelerator.
Hyperkelp
LOCATION: San Clemente, Ca.
CEO: Graeme Rae
Founded by maritime engineer Dr. Graeme Rae, Hyperkelp is building buoys that aren't your average fishing bobber. Its tech can collect and transmit data about the surrounding ocean and incoming payloads from space. The company says its goal is to create a network of the buoys around the ocean to help aerospace launch companies stream data from anywhere around the world.
Hyperspec.ai
LOCATION: San Francisco, CA. and Tel Aviv, Israel
CEO: Ohad Levi
Hyperspec.ai makes smart cameras that run on artificial intelligence. The company's CEO Sravan Puttagunta previously worked in HP's engineering department. In a nutshell, Hyperspec's cameras are made to create accurate mapping and object tracking in real time, with the goal of being used on self-driving cars and other autonomous vehicles.
Nicslab
LOCATION: Sydney, Australia
CEO: Dr. Andri Mahendra
Nicslab develops technology called the "source measurement system" that uses quantum computing to help organizations optimize their internet speeds and make them faster. Its current clients include the University of Oxford, HP Labs and Mitsubishi Electric.
Pierce Aerospace
LOCATION: Indianapolis, In.
CEO: Aaron Pierce
Pierce Aerospace makes software that helps autonomous drones identify objects and payloads. It argues that this software is critical to the development of the drone industry -- after all, it can be pretty scary if a drone goes rogue because it can't see where it's going. In 2019 the company received a roughly $50,000 grant from the U.S. Department of Defense to continue work on its flagship product, the Flight Portal ID system, which the DoD wants to use on its Unmanned Aircraft Systems.
Pixspan
LOCATION: Rockville, MD.
CEO: Michael Rowny
Pixspan develops a system that lets large files be transferred from different storage locations (like hardware or the cloud) at rapid speeds -- sometimes up to 5 times faster than average, it reports. It's compatible with several app programming interfaces, the main one being Amazon Web Services.
QuSecure
LOCATION: San Mateo, Ca.
CEO: Dave Krauthamer
QuSecure is a security company that focuses on protecting government and corporate systems from hacks. Specifically, its software works to keep encrypted data from being stolen and decrypted by quantum computers, which can steal and read valuable information at rapid speed. Its customers include Google and Amazon.
SCOUT
LOCATION: Alexandria, Va.
CEO: Eric Ingram
Scout -- also known as Scout Space -- develops software that helps spacefaring companies visualize what's going on in the great beyond and avoid casualties, like crashes with other spacecraft, satellites or debris. The company was founded in 2019 and says its name is an acronym for helping Spacecraft Observe and Understand Things around them.
SeaSatellites
LOCATION: San Diego, CA.
CEO: Mike Flanigan
As the name suggests, SeaSatellites is building unmanned vessels that work as satellites for the ocean and have a wide array of potential uses, from environmental data collection to communications. Similar to their skyward counterparts, SeaSatellites' tech can be controlled from anywhere and are designed to carry payloads on long missions.
Xairos
LOCATION: Denver, CO.
CEO: David Mitlyng
This company's name is Greek to us -- literally. A nod to the Greek god of opportune time, Kairos, is an appropriate name for this startup using quantum mechanics to bring GPS-type technology to areas of the globe without internet access.
Thermexit
LOCATION: Boston, MA.
CEO: Katie Willgoos
Thermexit is the only company in this year's Space Accelerator cohort that's led by a woman. CEO Katie Willgoos joined the company in March and helps the company create and sell its main product, Theremexit Pads, which are tiny thermal sensing sticky pads that can be placed on circuit boards and inside computers.
Correction: An earlier version of this post stated this is Techstars' second space accelerator cohort. It's the accelerator's third such class. It also, misnamed the CEO of Hyperspec.ai.
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Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
https://twitter.com/samsonamore
samsonamore@dot.la
PCH Driven: 75 and Sunny’s Wil Chockley on How to Pitch Your Startup
01:26 PM | January 10, 2022
Courtesy of Will Chockley
On this episode of the PCH Driven podcast, 75 and Sunny venture firm partner Wil Chockley shares his thoughts on skills early-stage founders need and advice on how to give the best pitch possible.
The pandemic quickly changed how the tech world worked, creating an exodus of people from the Bay Area to L.A., Chockley said, as jobs went remote and lockdowns forced people to decide where they wanted to be stuck, at least for the short term.
"I think that influx of new tech blood has really helped the tech scene. But prior to all of that, L.A. was already sort of a robust hub for innovation and the core areas geographically for a few industries like aerospace… And then entertainment," said Chockley.
Chockley is a partner at 75 and Sunny, a venture firm founded by Zillow co-founder Spencer Rascoff, who also co-founded dot.LA. Chockley assesses potential investments; about a third of his time, he said, is spent looking at prospects in proptech, but he's also interested in what he calls “HR tech” or the future of work.
On the fundraising side, Chockley has learned what skills to look out for in founders. The single most important ability, he said, is storytelling. Being able to translate a company’s data while also painting a vision for its future takes craft.
"You are first selling your idea to investors; you're selling your idea then to potential employees when you're looking to hire them. And then you're looking to sell your product or your idea to potential customers. So being able to sell well is being able to tell a story well," said Chockley.
The pandemic, he added, has opened more funding avenues for founders in every city. Zoom video calls have become the norm for the venture capital industry, allowing startups to get funding from investors outside of Silicon Valley and far from their headquarters.
"I feel like everything has merged, so everyone is interacting with everybody. And so, what's happening here in L.A. is really what's happening all over the country," said Chockley.
While making those pitches to investors, Chockley said some things to keep in mind is to be enthusiastic and be receptive to feedback. But also when you introduce the problem, your product is the solution.
Click the playhead above to hear the full conversation, and subscribe to PCH Driven on Apple, Stitcher, Spotify, iHeart, Google or wherever you get your podcasts.
dot.LA Engagement Intern Joshua Letona contributed to this post.
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Jamie Williams
Jamie Williams is the host of the “PCH Driven” podcast, a show about Southern California entrepreneurs, innovators and its driven leaders on their road to success. The series celebrates and reveals the wonders of the human spirit and explores the motivations behind what drives us.
Despite the Critiques, Gen Z Swears by Influencer Marketing
05:05 AM | February 15, 2023
@DixieDamelio, @NoahBeck, @Jaclynrjohnson
After an influx of scandals, some reports suggest that beauty influencers have run their course. Just look at the de-influcing trend—people are outwardly expressing frustration with the sheer amount of sponsored content being pushed on every social media platform. Others are questioning the pervasive misleading reviews and undisclosed advertisements.
That said, the money flowing into the industry, paints a different picture. Even as companies slash their marketing budgets, they are still setting aside cash for creators. An Influencer Marketing Hub survey found that 23% of brands dedicated at least 40% of their entire marketing budget to influencer content. And the industry is set to reach $21 this year. A January report from shopping platform LTK, which surveyed 1,018 people, found that both Gen Z and millennials consider seeing a product from influencers as more persuasive than other forms of advertising.
So how do we explain these two conflicting signals?
For starters, Gen Z has historically been hard to reach with advertising, and ads coming from influencers are no exception. A 2022 study from digital consumer research firm Bulbshare found that 84% of Gen Z no longer trust influencers. But consumer trends point to the consistent effectiveness of creator-led campaigns. LTK’s survey found that 79% of Gen Z respondents said their shopping was informed by social media. Brands like the fashion companies Selkie and Shein have seen sales explode after strategic partnerships with TikTok influencers.
That said, a looming recession, does lead people to be more particular about what they buy. Consumer price increases have slightly slowed down, but prices for products like apparel are still high. If people are reducing their spending, some have argued that influencers, who make their living off of other people’s purchasing habits, will lose their social significance.
Again, the evidence suggests the opposite to be true. People working with a budget want to make more informed decisions. When they, for example, walk into Sephora, they want to know that they aren’t going to waste $40 on a bad foundation. This is why influencers aren’t going anywhere: people who hunt for the best product before buying something are going to come across an influencer’s TikTok video or Instagram post. Seeing a video doesn’t always lead to a purchase, but people might find the information persuasive enough.
Another alternative is the rise in micro-influencers—people who have cultivated a more personable sense of trust instead of someone with millions of followers. With more people using TikTok as a search engine, the time seems ripe for influencer marketing to help consumers navigate their course.
Not only did the LTK survey find that 44% of Gen Z’s in-store shopping is informed by creator-recommended products, but they are also more likely to search for product information from an influencer instead of a brand’s website.
Which is to say, even those with disdain for influencer culture have likely been inundated with the trendy products they push. All the evidence points to influencers being one of the most persuasive tools in marketing—and you’d be foolish to think that recent developments are signs of trouble.
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Kristin Snyder
Kristin Snyder is dot.LA's 2022/23 Editorial Fellow. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.
https://twitter.com/ksnyder_db
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