FAU Tech Runway's First ‘Venture Vintage 1’ Graduation
One year after receiving $25,000 in seed funding, the inaugural class of FAU’s Tech Runway recently participated in the “Venture Vintage 1” graduation, a special ceremony to commemorate their accomplishments.
From left to right, Daniel Gropper, Ph.D., dean of FAU’s College of Business; State Rep. Richard Stark; Lenny Chesal, interim chair of FAU Tech Runway; Kimberly Gramm, associate vice president of FAU Tech Runway; FAU Board of Trustees Chair Anthony Barbar; and State Sen. Maria Sachs.
One year after receiving $25,000 in seed funding, the inaugural class of Florida Atlantic University’s Tech Runway recently participated in the “Venture Vintage 1” graduation, a special ceremony to commemorate their accomplishments.
Entrepreneurs from BedaBox, a company that simplifies shopping and shipping outside the country using any currency; Design Comfort Shoes, a company that has a patent-pending comfort system for high-heeled shoes; Stand4, a website that connects individuals, charities and corporations to enhance the charity donation process; and Modulux Lighting, a company that provides more light with less power through its LED lighting fixtures, were celebrated.
“It was exciting to look back on the past year and see how much our entrepreneurs have accomplished,” said Daniel Flynn, Ph.D., vice president for research at FAU. “It’s evident that our program has made a notable impact on the advancement of these companies.”
The Maverick Award was presented to former FAU Board of Trustees member Scott Adams, CEO of Groupcare Technologies, LLC, a builder of services and products that connect M2M platforms and communication networks in the area of personal safety. Jim Ryan, CEO of Talk2Rep, received the “Mentor of the Year” award for his unwavering dedication and guidance for the entrepreneurs throughout the program’s first year.
In the year since Tech Runway’s launch, the program has provided financial support, strategic development, workspace, and mentoring for nine start-up companies. As a result of the program, 50 vetted trained mentors have provided 15,242 hours of mentoring this year alone; entrepreneurship and technology events have attracted more than 7,500 attendees; and 35 new jobs have been created with an average salary of $75,000 ranging. In addition, FAU Tech Runway companies have raised $5.76 million in seed funding.
“Great organizations are built with the advice and counsel of its board members,” said Kimberly Gramm, associate vice president of FAU Tech Runway. “Our board is comprised of entrepreneurs and leaders of industry dedicated to creating the best entrepreneurial ecosystem for the South Florida community.”
For more information on FAU Tech Runway, visit techrunway.fau.edu.