LOCI and Red Blue Collective joined forces in fall 2018 to open Mindhive, an ideation launch program for inventors that welcomed its first cohort of participants in late November. The program featured three hand-selected companies with impactful inventions. After making their way through the four-week program that guides startup entrepreneurs through the stages of ideation to launch, these entrepreneurs pitched their proven inventions, business models, and program successes to the community at a culminating Demo Day event on January 9, hosted at the LOCI HQ in Tysons Corner, VA. Here’s a closer look at our entrepreneurs and program successes from the first Mindhive cohort.
Company Spotlight 1:
Dan Flynn, CEO/Founder
Binbox is an IoT solution for anyone who wishes to travel light when heading to a sports game or concert, or really anyone who wants to explore a city without the weight of your belongings. The founder/CEO, Dan, Flynn, and software developer/CTO, Eric Herring, featured below met in a gym locker room, and ironically, their solution is integrated with smart lockers for people who want to store their personal items on the go. Dan came to Mindhive for help with mentorship through the entrepreneurial process and realized what a value add access to LOCI’s technology was to his business. “You know, the first thing investors ask about is the IP [intellectual property] and whether or not my solution is protected. It’s the one question I haven’t had an immediate answer to. LOCI’s Invention Analysis helped me to determine my own value proposition to investors, so I could answer this question with confidence as I move forward,” reports Dan. Another major milestone achieved in part thanks to the Mindhive program is that Binbox is in the process of signing contracts with some major companies. Dan attributes some of that success to the focus spent on this critical area provided during his mentoring with Callye.
Company Spotlight 2:
Dawn Myers, Founder
THE MOST is an innovative hairstyling tool for people with textured hair who yearn to reduce their styling time by hours and be able to look great on the go. According to the company’s website, the tools “…use a gentle warming mechanism to help you perform quick and healthy curly styling instead of straightening.” Founder and CEO Dawn was attracted to the Mindhive program after learning firsthand just how important yet complicated IP can make the entrepreneurial journey. As a barred attorney herself, early on in her journey, she thought that filing a provisional patent would be a simple process, and she was certainly in for a surprise. After navigating some of that difficulty and hiring a registered patent attorney, she moved ahead in her filling. She can’t thank LOCI and its suite of products enough for giving her the piece of mind that she never had before. With LOCI Search and Invention Analysis, she can move confidently in the direction of filling for her provisional patent because she has a comprehensive view of the IP landscape – one that she didn’t have before (even with a specialized attorney by her side).
Recently, Dawn characterized the Mindhive program as, “…invaluable…for any startup with a hardware focus. The roadmap is so nebulous for so many hardware startups, and Callye and company really understand how to mine for opportunities and make the path to market clear. They’re approachable, they give digestible action items, and, most importantly for busy startup founders, they don’t pad the program with unnecessary fluff. You get exactly what you need with no time wasted. I highly recommend it!”
Company Spotlight 3:
Josh Clements, CEO/Co-founder (age 19)
Benjamin Carey, CMO/Co-founder (age 21)
Vineteq is a recent startup seeking to resolve some of the problems that face the viticulture industry. It’s amazing to think that the founders of a company working with vineyards and wine are hardly past the legal drinking age, but these young entrepreneurs have illustrated a drive that will surely set them on the road to success. Originally their solution was completely different and they had intended on going to manufacture their product and then market it to vineyards, but the first week into the Mindhive program, they realized their solution was based on an assumption of what they thought their customer needed – a common pitfall of so many entrepreneurs who believe they’ve got a great idea. They needed to intimately understand the needs of their customer, the most foundational tenant of the Mindhive program. After spending some time with Callye Keen, CEO of RBC, and John Wise, CEO of LOCI, Josh and Ben found themselves conducting rounds of direct market outreach and cold-calling vineyards in the area to determine what the needs of their customer actually were. It wasn’t until this discovery process that they determined a pivot was necessary, and they completely reimagined their solution to something much greater, and much more critical to the vine and growing industry. To date, their technological solution is software-based and helps vineyard owners optimize the spraying process using AI and data analytics. With the guidance of the mentors involved in the Mindhive program, Vineteq was able to successfully navigate through this change. Furthermore, through the tools provided to these young entrepreneurs in the LOCI Platform, they were able to conduct their own prior art searches, analysis, and leverage a solid LOCI Score (a measurement of novelty) as they pitch to potential customers. We wish Vineteq continued success as they pursue their entrepreneurial dreams!
The mission of Mindhive is to provide a supportive network of advisors and free space for entrepreneurs who are passionate about solving a problem they’ve experienced. The program strives to provide the resources to see to it that their problems are met with the best possible solution(s). With access to a wide network of potential partners in the heart of the nation’s capital, Mindhive creates a pipeline that takes these entrepreneurs from the inception of their idea – through the often painstaking process of analysis and refinement in a shortened amount of time – and ultimately launch them directly into market with their executed idea. We are proud that over the course of the last couple months, we were able to deliver on this promise and better equip our first cohort of fearless entrepreneurs for success.
Interested in becoming the next success story of the Mindhive? Applications are open for the second cohort of Mindhive to launch in Q1 of 2019. Apply to join our highly creative and energetic hive today at: loci.io/mindhive
About Red Blue Collective
Helping entrepreneurs develop great hardware products from concept to market. Entrepreneurs can benefit from RBC’s experience and network to break their barriers and accelerate their launch. To learn more about Red Blue Collective, visit www.redbluecollective.com.
More about LOCI
LOCI’s mission is to disrupt the global patent industry, and to change the way the world invents and values ideas. We specialize in simplifying the patent search process by utilizing unique visualizations and providing comprehensive analysis to help determine the novelty and demand of an idea. To further understand the landscape of IP and learn more about LOCI, sign up for the latest updates above or visit our website here.
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