The year has been one of ups and downs for Denton startup From the Future. However, with recent grant funding, the next few years are poised to be filled with growth for the company.
Last month, the VR training software company received $243,500 from one of the city of Denton’s first Entrepreneurship Economic performance based grants, along with fellow Denton IoT startup TeamofDefenders. And with the funding, From the Future, like TeamofDefenders is looking to use the new funding to expand its team and office footprint in the city.
“I think the city of Denton is trying to take some initial really strong steps to keep companies and small businesses coming into Denton and staying in Denton,” Justin Mullin, VP of business development at From the Future, told NTX Inno. “It’s a cool thing to be a part of something new, and so I’m looking forward to being able to take those next steps forward with the program and it is going to make a big impact for us in being able to meet the vision that we have.”
Launched in 2009 by co-founders Mike Christian and Stephen Hess, From the Future is one of the long-time players in the Denton tech and startup ecosystem. While always working on VR technology, for a number of years the team was focused on developing XR experience, including creating one of the first VR experiences for the public unveiling of the Oculus Rift VR system. However, for about the past three years, From the Future has focused on developing VR training software to help employees in industries like aviation and manufacturing teach employees how to use the machinery they will encounter on the job.
Mullin said like many companies, when the pandemic first hit Texas in March, From the Future saw a few deals fall through as clients were looking to cut costs where possible. The company also filed to receive a combined $255,000 in SBA PPP and EDIL relief. However, he said business is beginning to pick up with more clients looking for tools that can be used to train and onboard new employees remotely.
“The ability to do remote training helps work with the times,” Mullin said. “Clients have to keep moving forward as well, so the ability to train in a classroom kind of environment with everybody being remote, they’re still able to bring on good talent within their organization and develop talent in their organization and reduce overhead costs of travel and expenses.”
Despite the struggles, the year has also brought a number of successes for From the Future. This summer, the company was accepted into Austin’s MassChallenge Texas accelerator. In September, the company received an award from the Dallas Business Journal’s Entrepreneurial Opportunity Contest. Then, after six months of working its way through the process, From the Future landed the city of Denton grants.
“Now that it’s done and it’s completed, we’re really excited to get moving forward on it,” Mullin said.
With the new funding, From the Future is looking to bring its team size from about 10 to nearly 150 in the next three years. To accommodate that, the company is also looking to start expanding its downtown Denton footprint with new office space, which is planned for next year.
As the company grows Mullin said it plans at looking to deploy its tech into new industries. Since the company’s technology is hardware agnostic, From the Future hopes to build out a platform that supports a library of training programs, along with the ability to continue to create custom solutions.
“We're a VR software development company and we build really cool applications, but truly where it comes down to it, we are a learning company and we are driving folks toward a better ability to learn and to retain information and practice to perfection,” Mullin said. “With our software, we have the ability to help people practice to perfection and have the freedom to fail, and they can have that freedom to fail without suffering the consequences.”
One of the main areas of focus for From the Future currently is in the area of autism therapy. The company is hoping to receive funding through the NIH for a program it is developing in part with the University of North Texas to help teach people with autism the personal and on-the-job skills they will need in the workforce.
In addition to helping From the Future grow, Mullin said the Denton grants will also help expand the city as a tech and startup hub. He said the city’s density of universities, as well as its creative vibe, already help to make it an attractive destination for emerging companies. And he hopes that by being part of Denton’s expansion, the city will begin to create more gravity around its startup scene.
“Denton is a really unique town. There’s a lot of different perspectives and viewpoints, there’s a lot of different levels of creativity and that really opens up the doors for anybody to be here in Denton that has any type of background or skill, and really be able to do something with it,” Mullin said. “That’s something that’s really, really strong for Denton.”
While Dallas tends to attract the most attention for startups in the region, Denton and other surrounding cities have been looking for ways to attract more companies and workforce talent. Earlier this year, the McKinney Economic Development Corporation launched its Innovation Fund, which has helped attract or expand more than a dozen headquarters for companies in the city. And out west, the city of Fort Worth awarded a first-of-its-kind $69 million grant in June to electric motor systems company Linear Labs to help it create potentially thousands of jobs, as well as manufacturing and R&D facilities.
“This area here in North Texas, in Denton, has the same type of potential (as other major tech hubs),” Mullin said. “There are tech companies that are small up and coming tech companies that have the ability to be extremely impactful in Denton becoming the next tech hub, if you will, of North Texas.”
