Before the Space Coast Pitch Challenge got underway on March 10, a local angel investor group pitched in $5,000 to the previously $20,000 grand prize.
That put $25,000 on the line for the eight companies that pitched at the event hosted by Groundswell Startups in Melbourne. Members of Central Florida’s startup community, from investors to CEOs, swarmed to Groundswell to hear from some of the region’s most innovative early-stage companies.
Each company got five minutes to present their business to the crowd and the venture capital and angel investor judges: Ben Patz of Orlando-based DeepWork Capital, Marc Sokol of Tampa-based Florida Funders and Ron Tarro of Boca Raton-based New World Angels.
Kalogon, the maker of a wheelchair cushion that redistributes body weight in an attempt to eliminate pressure sores, won the event and $25,000. However, all eight companies are seeking investment dollars to grow their teams and fund innovations their founders say can revolutionize industries.
Here’s more about each company:
Kalogon
- Founded: 2019
- Headquartered: Melbourne
- What they do: Kalogon developed a "smart cushion" meant to prevent pressure sores in people who sit too long, especially those in wheelchairs. It’s a serious issue, as the federal government’s Agency for Healthcare Research & Quality reports pressure sores kill 60,000 people every year.
- What’s next: After officially launching the product in February, the company is raising $750,000 to stock up on demonstration cushions, reduce its manufacturing costs and train companies that may refer the product to others.
- Website: www.kalogon.com
Mindstamp
- Founded: 2018
- Headquartered: Melbourne
- What it does: The Mindstamp platform converts existing video into interactive video by adding buttons, questions, clickable areas and other features.
- What’s next: The company is raising $1.5 million to improve the technology behind its video platform, scale its marketing funnel and seek new partnerships.
- Website: mindstamp.io
GunEye LLC
- Founded: 2017
- Headquartered: Palm Bay
- What it does: GunEye built a camera that mounts to a gun and links to a smartphone. The camera works in the day or night time, and it is purposed for use by recreational gun users and law enforcement.
- What’s next: After recently finishing the product, GunEye is seeking $1.5 million in capital as it fills pre-orders of 120 units and pursues other customers.
- Website: guneye.com
My Steady Mind
- Founded: 2021
- Headquartered: Melbourne
- What it does: My Steady Mind offers cognitive fitness training through online modules and live, virtual coaching sessions. The firm claims the training course helps “manage your emotions, focus your mind and perform at a higher level in your career and personal life.”
- What’s next: So far, My Steady Mind has attracted 6,000 users. A new partnership with Crunch Fitness will put My Steady Mind in gyms, and the company is raising $500,000.
- Website: mysteadymind.com
Helicon Chemical Co. LLC
- Founded: 2012
- Headquartered: Orlando
- What it does: The company patented a composite that results in clean-burning rocket fuel that increases engine performance. Helicon acts as a materials supplier to fuel manufacturers.
- What’s next: Helicon is raising $5 million as it seeks to capture 5% of the Department of Defense solid fuel market.
- Website: heliconchemical.com
BoxMica LLC
- Founded: 2021
- Headquartered: Melbourne
- What it does: The firm uses gig workers to provide data labeling services, critical for machine learning models.
- What’s next: BoxMica already finished its minimum viable product and landed its first enterprise customer. Next, it’s raising $500,000 to complete 1 million data annotations, the task of labeling data, in 18 months.
- Website: boxmica.com
Idem Systems
- Founded: 2015
- Headquartered: Orlando
- What it does: The firm’s drug-detecting hardware and software is meant to reduce the time it takes for law enforcement to accurately identify drug samples from months to minutes, said CEO David Nash.
- What’s next: Idem Systems is raising $950,000 to stock its inventory and attend trade shows as it works to get narcotics officers across the country to be early adopters of the products. The company plans to launch in Florida in first-quarter 2023.
- Website: idemsystems.com
Awana
- Founded: 2020
- Headquartered: New York/Melbourne
- What it does: Awana helps companies plug their engineering talent gaps with engineering candidates from Latin America. It’s doing this by building an invite-only recruiting platform for qualified engineers from Latin American companies and employers.
- What’s next: The company seeks $750,000 to build out its platform to take on growing demand. For example, the company recently signed audio streaming giant Spotify, which needs 50 new engineers each quarter.
- Website: www.awana.io
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