Title: Founder
Company: EYECONIC.TV, Transmission & Real-Time Safety Solutions
Year founded: 2008
Capital raised to date: $0
Key investors: Self
Jacobs' hometown: Leitchfield, Kentucky
Lives: Bowling Green
Education: College dropout
Hobbies: Adventure, music, poker, entrepreneurialism mentoring, being outdoors.
Describe what your company does.
EYECONIC starts and develops spin-off companies that center on digital signage and interactive kiosks.
As an early-stage pioneer in the industry, it developed its first widely accepted product in 2010, a digital menu in a restaurant. Since then, EYECONIC has developed many companies serving different verticals — in K-12 school systems (School Menu Guru), convenience stores (C-Store TV), payday loan companies (Money Media), manufacturing (Transmission) and cannabis (Enlighten).
It provides underlying technology and operational execution need to take technologies to particular markets and later to exit.
What are some major milestones in your company’s recent history?
In the past two years, we had a spinoff (Enlighten) acquired by Weedmaps (Nasdaq: MAPS).
Throughout Enlighten’s life cycle, it raised more than $12 million in venture capital from large cannabis funds. It grew to be the largest digital signage provider to the legal cannabis industry, with greater than 50% market share.
Also, during the past year, we have spun off Transmission, now serving some of the world’s largest manufacturers. We have increased safety and engagement, in many cases saving millions in accidents and worker turnover (the two largest issues currently facing manufacturers).
Lastly, we are moving into pilot programs with some of the largest package and passenger delivery companies in the country with Real-Time Safety Solutions.
What is your best piece of advice for first-time founders?
It’s going to take five times as long as you think it will and cost 10 times what you think it’s going to.
There’s no way to see the future. You are pioneering now, and this path is littered with uncertainty. You don’t’ know what you don’t’ know. Slow down, and read it again.
Be prepared for those mistakes by not drinking your own Kool-Aid and convincing yourself you have it all figured out, because you simply don’t. You never will. Knowing it will cost more and take longer than you ever dreamed possible is your only chance for both financial and mental survival throughout this mission you are on.
Surround yourself with collaborators who have expertise in areas you don’t, who won’t just tell you what you want to hear, who will help solve your problems and share problems they won’t solved. That’s what we’ve built in Bowling Green.
