After five rounds of voting, a new Dayton Inno Madness startup champion has been crowned. This friendly, bracket-style contest marks its third year of being held throughout the month of March.
We asked the public to narrow the field from 32 startup companies down to a final standing champion based on the question: Who would you invest in? Nearly 3,000 votes were cast and the ultimate winner is technology firm Black Source.
Here's a closer look at the final four companies:
First place: Black Source
This Centerville-based technology startup works with Department of Defense clients to simplify mission execution. The startup offers highly specialized consulting, engineering and design services to government and industry partners.
Michael Fisher, managing director and founder of Black Source, said the startup operates out of his garage now, but the business is working with Woodard Development this year to find a permanent office in Dayton’s innovation district near downtown or in Beavercreek.
“We hope in the next quarter to get a facility together,” Fisher said.
Fisher said the company hit its first million-dollar year in 2023 and is doing work with the Air Force and Navy.
Black Source has 10 employees, and Fisher said he could stand to fill another 10 jobs this year. Black Source’s team leverages a multi-disciplinary approach with former weapon school graduates, human factors experts and software engineers.
Website: blacksource.us
Second place: Polaron Technologies
The startup specializes in data analytics and computational modeling & simulation services. Over the last six years, the company has collaborated with government and non-government organizations across the U.S. to resolve operational and strategic issues. In the last year, Polaron has earned several contracts: STTR Phase II grant from Space Force; NASA Dual Technology Development contract; and SBIR Phase I grant from the Navy. The company also moved into a new facility in Miamisburg.
Led by CEO Rahul Bhowmik, the company has broadened its range of services beyond data analytics and computational modeling to include research and development, engineering, and IT services. This year, Bhowmik expects to win several more contracts and hire another five people. He said they will also be courting new investors this year.
Website: polaronanalytics.com
Third Place: Raider Technologies
This Oakwood-based startup develops techniques and hardware for low-cost and size, weight and power constrained radar operations for the Department of Defense, municipality and autonomous platform industries. Leveraging DoD licensed technology using frequency diversity, Raider Technologies provides sensing capability that is lower cost and lower peak-power than typical pulsed radar due to its uniquely simpler generation of transmit signals than existing radar systems.
Raider Technologies, founded by President Aaron Jones, is a spin-off company from the Air Force Research Laboratory.
"As the company paves the way for the future of low cost, size, weight and power (C-SWaP) radar, Raider Technologies is at the forefront of the largest transportation revolution since the invention of the automobile thanks to their breakthrough frequency diverse array radar architecture," Jones said.
In 2023, Raider Technologies was awarded a SBIR contract from the Air Force, as well as significant funding from Ohio’s Technology Validation and Start-Up Fund. Raider Technologies is also a portfolio company of the Entrepreneurs' Center ESP program.
This year, Jones said he'd like to add five or more employees. The firm is preparing to file new intellectual property for a cost-effective radar system by the end of the year.
Website: www.raidertechnologies.com
Fourth place: Dayton Photonics
The Dayton startup’s free space optical communication system brings broadband internet to the most challenging places on Earth. Dayton Photonics tested its first prototypes in 2023 on the University of Dayton campus.
"We're working with two student teams at the University of Dayton ... these students are helping us create our demonstration products that we will deploy this summer at sites across town," said Emily Fehrman Cory, CEO and co-founder.
Fehrman Cory said the company will prepare to open for angel investors in April while exploring moving into Mound Business Park this fall. The startup is also part of the Entrepreneurs’ Center Prospects Academy program.
Other upcoming highlights include beginning commercial sales of their B-Link Free Space Optical Communication System in quarter four of this year.
Website: dayton-photonics.com
