i&E Magazine Summer 2011 by Shannon Carr

O K L A H O M A’ S A D VA N C E D T E C H N O L O G Y M A G A Z I N E

SUMMER 2011

Innovators & Entrepreneurs

HOME GROWN INNOVATORS In this edition: proﬁles on emerging companies in Tulsa, Oklahoma City, Shawnee & Bartlesville

ACCELERATE OKLAHOMA!

New Funds Expand Access to Capital for Entrepreneurs

GOVERNOR’S CUP 2012 More Cash … More Opportunities

CAPACITY SPORTS

FOUNDER CHASE CURTISS PUTS CONCUSSION ASSESSMENT IN HANDS OF ATHLETES

INSIDE

i&E Profiles Arecon Data Motolingo Perk Dyanamics TokenEx

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Cover Story Capacity Sports

Capacity Sports mobile app helps determine whether athletes who have suffered concussions are ready to get back in the game.

Accelerate Oklahoma!

i2E has partnered with the Oklahoma Department of Commerce and the U.S. Treasury Department to expand access-to-capital options for Oklahoma businesses.

Governorâ&#x20AC;&#x2122;s Cup

More opportunity for more teams to advance to the presentation round of the 2012 competition.

Fellows

Eight i2E Fellows put their skills to work at four companies this spring and summer, including the first ever i2E-hosted Fellows.

innovators & Entrepreneurs is produced by i2E, Inc., manager of the Oklahoma Technology Commercialization Center. For more information on any content contained herein, please contact i2E at 800-337-6822. ÂŠ Copyright 2011 i2E, Inc. All rights reserved.

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INSIDE

i&E Profiles Arecon Data Motolingo Perk Dyanamics TokenEx

4 6 8 10

Cover Story Capacity Sports

Capacity Sports mobile app helps determine whether athletes who have suffered concussions are ready to get back in the game.

Accelerate Oklahoma!

i2E has partnered with the Oklahoma Department of Commerce and the U.S. Treasury Department to expand access-to-capital options for Oklahoma businesses.

Governorâ&#x20AC;&#x2122;s Cup

More opportunity for more teams to advance to the presentation round of the 2012 competition.

Fellows

Eight i2E Fellows put their skills to work at four companies this spring and summer, including the first ever i2E-hosted Fellows.

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ABOUT i2E i2E’s award winning suite of venture advisory services, access to capital and entrepreneurial development programs are all designed to help us accomplish our mission: home grown economic development by nurturing high growth companies in Oklahoma. In the past year we have enhanced the services we provide by adding new employees to carry out our mission and tapping new sources of funding that will allow us to deepen our positive impact upon Oklahoma’s economy. With a $1 million grant from the Federal Economic Development Administration and matching funds from ﬁve local partners – the Greater Oklahoma City Chamber, the city of Oklahoma City, the Oklahoma Medical Research Foundation, the Oklahoma Business Roundtable, and Presbyterian Health Foundation -- i2E offers expanded venture advisory services to even more Oklahoma entrepreneurs beginning at the earliest stage of their companies’ development. And we recently teamed with the Oklahoma Department of Commerce and the U.S. Department of Treasury to offer more than $13 million in investment capital to the state’s emerging high growth companies. Appropriated by the Treasury Department through the Oklahoma Commerce Department and managed by i2E, the Accelerate Oklahoma! initiative creates three separate funds that target companies at different stages along the business lifecycle. Together with the state appropriated funds and angel investors, i2E funding sources provide concept, seed and start-up equity ﬁnancing and private equity funding for Oklahoma’s high growth companies. We recently refocused the Technology Business Finance Program to provide funding for Oklahoma manufacturers who want to innovate or expand with production of a new product or improve an existing product. i2E’s role in developing new entrepreneurial talent for Oklahoma also is expanding. We successfully completed the seventh annual Donald W. Reynolds’ Governor’s Cup business plan competition, and will add new opportunities for more teams to compete for cash prizes in the 2012 event. We also expanded the number of i2E Fellows who gained valuable experience while contributing their skills to emerging Oklahoma companies this summer. Our services are evolving, but the bottom line is we continue to help innovative, high growth companies succeed in Oklahoma.

i2E TEAM The i2E management and staff is composed of professionals with extensive experience in technology commercialization, business development, venture investing, finance, organizational. Tom Walker President and CEO

Steve Cropper

Wayne Embree Vice President, Entrepreneur Services

David Daviee Director, Finance Mark Lauinger Venture Advisor Richard Rainey Venture Advisor Casey Harness Business Analyst Kenneth Knoll Manager, Concept Funds Scott Thomas IT Manager Grady Epperly Marketing Manager Michael Kindrat-Pratt Coordinator, SeedStep Angels Jay Sheldon eMedia Specialist Jim Stafford Communications Specialist Cindy Williams Investment Assistant Jennifer Buettner Executive Assistant Apryl Gober Administrative Assistant BOARD OF DIRECTORS Roy Williams Chairman, Greater Oklahoma City Chamber Michael LaBrie Secretary, McAfee & Taft Jonathan Adamson Argonaut Private Equity

James Bode Bank of Oklahoma, N.A.

Bob Craine TSF Capital, LLC

Rex Smitherman Vice President, Operations

Tom Francis Director, Investment Funds

Leslie Batchelor The Center for Economic Development Law

Mike Carolina OCAST

David Thomison Vice President, Investments

Sarah Seagraves Vice President, Marketing

Howard Barnett, Jr. Oklahoma State University - Tulsa

Phil Eller Eller Detrich, P.C. Suzette Hatﬁeld Crawley Ventures David Hogan HoganTaylor, LLP Phil Kurtz Benefit Informatics Hershel Lamirand, III Oklahoma Health Center Foundation Merl Lindstrom ConocoPhilips, Inc. Dan Luton OCAST Scott Meacham Crowe & Dunlevy Fred Morgan The State Chamber Mike Neal Tulsa Metro Chamber David Pitts Stillwater National Bank Mark Poole Summit Bank Stephen Prescott OMRF Darryl Schmidt BancFirst Sheri Stickley OKBio Wes Stucky Ardmore Industrial Development Authority Dick Williamson TD Williamson, Inc. Duane Wilson LDW Services, LLC Don Wood Norman Economic Development Coalition

A Letter From the President Concern over concussions in sports has reached a level that it seems as if we see headlines every day about rising numbers of injured players or star athletes like hockey’s Sidney Crosby who have been sidelined by traumatic brain injuries. Hospitals nationwide reported that more than 500,000 children ages 8-19 were treated in emergency rooms for concussions in 2001-2005, and about half of those were sports related. In this edition of i&E, you will be introduced to Capacity Sports, a Tulsa-based startup that has created a mobile software application that can help the situation. Capacity Sports provides an objective evaluation of athletes to assess their readiness to return to action after suffering a concussion. You will read about how the app works on a smart phone and meet Chase Curtiss, a young innovator who while earning his master’s degree at Wichita State University started down a path that would eventually lead to the founding of Capacity Sports. We also spotlight up-and-coming Oklahoma companies in this issue that are commercializing innovative ideas in diverse industries such as financial service, automotive, oil and gas exploration and food service operations. TokenEx, for example, is a Tulsa-based company that has developed software that protects retailers and other companies from the theft of critical customer credit card information. It uses a process called “tokenization” to replace the numbers in a credit card account, making it unusable to anyone who steals the information. Bartlesville’s Motolingo provides cellphone technology that allows fleet owners and drivers to track vehicles in real time to save money

from auto repairs and higher insurance rates by monitoring engine health and risk factors such as texting and speeding. Oklahoma City-based Arecon Data solves a problem with inventory management for oil and gas drilling companies with software that allows them to easily know how much equipment they have on hand and where it is located. Perk Dynamics has brewed up a new way for coffee shops and other coffee sellers to manage and track their operations. The Shawnee company has developed software that can take orders for complicated coffee drinks, process payment information and dispense coffee, as well as monitor inventory levels and operation of the machine. Elsewhere, you will read about the changes we are implementing in the 2012 Donald W. Reynolds Governor’s Cup, as well as results from this year’s competition. We also publish details on what I consider exciting access-to-capital news for Oklahoma’s high growth entrepreneurs that will offer potential investment from several new funds. I invite you to spend time with this edition of i&E magazine and catch up on some of Oklahoma’s promising new companies and exciting new access-to-capital opportunities for entrepreneurs.

www.i2E.org facebook.com/OKGOVCUP twitter.com/i2E_Inc Summer 2011 i&E

Steve Cropper

Wayne Embree Vice President, Entrepreneur Services

James Bode Bank of Oklahoma, N.A.

Bob Craine TSF Capital, LLC

Rex Smitherman Vice President, Operations

Tom Francis Director, Investment Funds

Leslie Batchelor The Center for Economic Development Law

Mike Carolina OCAST

David Thomison Vice President, Investments

Sarah Seagraves Vice President, Marketing

Howard Barnett, Jr. Oklahoma State University - Tulsa

www.i2E.org facebook.com/OKGOVCUP twitter.com/i2E_Inc Summer 2011 i&E

Profiles Arecon Data

“Our competitors have shown over the past three decades that they lack vision, something that Arecon has plenty of.” – Jeff Arms

Jeff Arms Founder and CEO Year started: 2009 Location: Oklahoma City Employees: 4

Product or technology: The Tally Wizard, a cloud-based asset inventory software designed for the energy industry.

he oil and gas industry invests millions of dollars in steel pipe used in drilling operations, but it has a problem, says Jeff Arms, founder and CEO of Oklahoma City-based Arecon Data, LTD. Exploration and production companies often are uncertain of how much inventory they have or where it is located, both within and across the stock yard. Due to unique inventory tracking challenges within the industry, oil and gas companies buy surplus inventory to ensure they will have enough on hand when demand rises. “The oil and gas industry faces great challenges when it comes to inventory management,” Arms said. “Tracking of those assets is critical to efficient operations, and improper tracking can easily cost an exploration and production company millions of dollars a day in lost production and down time.” Arms created Arecon Data’s Tally Wizard inventory management software specifically to solve the energy industry’s communication dilemma between operators and service providers. Now in its seventh version, the Tally Wizard has evolved into a sophisticated, Internetbased software suite. It allows energy companies that own and manage oil field assets to keep precise inventory numbers and easily share that information with customers. “Many of the industry’s mobile assets are moved from place to place, possessed by contractors and require regular maintenance to prevent costly failures in the field,” Arms said. “All this requires extensive inventory tracking, business processes and service management, much of which is performed using spreadsheets and e-mail. We offer software tools to standardize management of assets and operations.” Arms began his journey down the entrepreneurial path after graduating from the University of Oklahoma with a degree in computer science. While in college, he worked as a pipe yard manager for a steel pipe service and sales company and saw first-hand the challenge the industry faces in tracking its inventory. So, he developed the first version of Tally Wizard as a capstone project in college and has continually enhanced the software since.

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Today, Arecon Data employs four people at its headquarters in the Moore-Norman Technology Center’s business incubator. Arms’ wife, Maria, serves as the company’s marketing director. Arms hopes to relocate Arecon Data to its own facility by October of this year and grow to 25 employees by 2013. The Tally Wizard software has leapfrogged competitors who have continually disappointed by not delivering software that can handle the inventory needs of the energy industry. “Our competitors have shown over the past three decades that they lack vision, something that Arecon has plenty of.” Arecon Data’s relationship with i2E has benefited the company as it seeks investment capital to expand its business, Arms said. “i2E’s team has guided us through the valuation of our company’s products, services and market value,” he said. “Packaging our company to attract investment capital has been the greatest benefit.” The emergence of Internet-based “cloud computing” has opened new possibilities for Tally Wizard and its energy industry users. For instance, exploration and production companies can instantly access real-time inventory numbers, as can their suppliers as they deliver products based on more precise totals. “Arecon is able to provide services that were not possible a few years ago and leverages the cloud to offer enterprise computing to companies from different sectors of the oil and gas industry,” Arms said. “I believe that once the benefits of the cloud-based Tally Wizard are realized, it will turn into a race by the industry to jump on board.” All of which means that oil field equipment owners will know exactly how much inventory they own and where it’s located. It’s right there in the Tally Wizard.

Market: Oil and gas tubular and equipment supply chain management Future plans: Arecon Data has three more products and services in the planning phase targeting its primary market of oil and gas producers. Funding: The company has been self-funded through sales and personal equity. It is working with i2E to raise additional capital to develop its next product. Successes: It released Version 7.0 of its Tally Wizard software and transformed it into a cloud-based data service that has been well received from tubular logistics and service markets. www.tallywizard.com

Summer 2011

i&E

Profiles Arecon Data

“Our competitors have shown over the past three decades that they lack vision, something that Arecon has plenty of.” – Jeff Arms

Jeff Arms Founder and CEO Year started: 2009 Location: Oklahoma City Employees: 4

Product or technology: The Tally Wizard, a cloud-based asset inventory software designed for the energy industry.

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Profiles Motolingo, Inc.

“Everything is going to be connected digitally in the future, and we’re leading the way in the automotive space.”

MotoCarma: Mobile Monitor

t is 2012 and you are cruising down the Turner Turnpike between Oklahoma City and Tulsa when your cell phone begins to chime. The phone is ringing out a reminder that your vehicle needs its oil changed, brought to you by a smart-phone app called MotoCarma created by Bartlesville-based Motolingo, Inc. And it could potentially save drivers hundreds of dollars annually on vehicle maintenance and insurance costs. Motolingo has developed a suite of cloudbased smart-phone products for both consumers and commercial drivers that monitor both the performance of the vehicle and the driver. It uses technology that co-founder and CEO Charles Nesser calls “telematics” to collect data and distribute it over a wireless network. “Transportation costs from regular maintenance, repairs, insurance, fuel and taxes can really add up,” Nesser said “Telematics can help. It can also help reduce accidents and prevent associated insurance cost increases.”

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Motolingo’s technology tracks ongoing vehicle health and operating information that is stored on embedded computers that operate in the vehicle. A small hardware device plugs into the diagnostic port under the steering wheel and connects to a smartphone by Bluetooth or WiFi connection. The information is relayed via wireless phone to Motolingo’s cloud-based computing network. “Vehicle owners can view and analyze the data using a Web portal,” Nesser said. “Businesses can access the data to offer services such as reduced insurance premiums or specific repair prices.” In addition, the Motolingo software can track the performance of the driver, determining speed and mobile phone usage such as texting, calling and e-mailing while the vehicle is in motion. “By knowing about the vehicle and phone, we can warn parents and businesses about a driver that sent 45 text messages in a half hour while driving 98 miles per hour, for example,” Nesser said.

Charles Nesser Co-founder and CEO Year started: 2008 Location: Bartlesville, OK Employees: 2

– Charles Nesser

Oklahoma native Nesser conceived the idea for Motolingo after working for Robert Bosch Corp., the world’s largest automotive supplier, and General Motors. He helped develop the on-board diagnostic systems that control the Check Engine Light in today’s vehicles. The Motolingo apps can help motorists avoid breakdowns from neglecting maintenance and warning lights, paying too much on insurance costs and provide fleet managers and parents of teens with critical information on location, speed, aggressive and distracted driving. Nesser established a relationship with i2E after attending a Tech Night Out event in Tulsa. “I learned about the various programs at i2E but did not contact them until later when pursuing investment funds,” he said. “Once I had several channel partners and investor opportunities lined up, I contacted i2E. They were more than happy to help on short notice and have helped in a number of ways – from improving the slide presentation to investor introductions.” Nesser envisions partner companies developing even more specialized applications on the Motolingo platform, as well as auto repair providers signing on to offer users discounts on maintenance and repairs. The company recently released a free version of the app for the Windows Phone with the help of Microsoft as part of the software giant’s Startup Showcase program. It is now developing an Android version of the software. Motolingo’s innovative solution already has earned recognition as a top 20 mobile app by MobileBeat 2010, a “Top 10 must-have driving app” by the Microsoft Network, startup of the week by Microsoft BizSpark and a finalist in the AutoVenture Forum. The chiming smart-phone reminder by the MotoCarma app that a vehicle needs preventive maintenance is also a signal of things to come. “Everything is going to be connected digitally in the future, and we’re leading the way in the automotive space with the help of mobile phones and existing networks,” Nesser said. “Phones will continue to become more powerful and more integrated with our cars. Motolingo’s unique platform is positioned for success as these markets grow and evolve.” The digital future is now.

Product or technology: Car-to-Cloud Platform and Software-as-a-Service for auto diagnostics and vehicle monitoring Market: Automotive Service, Repair and Insurance Future plans: Motolingo plans to expand its applications to other phone platforms such as the iPhone. Funding: Self-funded to date. Successes: Nesser and co-founder Mitchell Todd spent a significant amount of time building a robust, flexible platform that connects cards to the Internet cloud with Windows and Android-based devices. The company is now in the evaluation stage with several interested channel partners and will be rolling out some new capabilities in the near future. Along the way it has been recognized as an innovative startup in the software and automotive industries. www.motolingo.com

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Profiles Motolingo, Inc.

“Everything is going to be connected digitally in the future, and we’re leading the way in the automotive space.”

MotoCarma: Mobile Monitor

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Charles Nesser Co-founder and CEO Year started: 2008 Location: Bartlesville, OK Employees: 2

– Charles Nesser

Summer 2011

i&E

Profiles Perk Dynamics Inc.

“Every time we show this solution to someone they tell us a new place they envision a coffee/espresso service.”

BEAN ME UP SCOTTY!

hen Jerry Leeman rolled a portable espresso machine from Shawnee-based Perk Dynamics onto the floor of the 2011 National Restaurant Association trade show in Chicago earlier this year, the reaction was spectacular. Over the four days of the show, Perk Dynamics dispensed more than 2,400 coffee drinks from the espresso machine. “I had customers send notes after the show through our website saying they wanted to talk,” said Leeman, Perk Dynamics’ Chief Executive Officer. “They saw the demo and enjoyed their coffee at the show but could never get close enough to have a conversation.” Co-founded by Leeman, John Sharpley and Dillon Sharpley, Perk Dynamics has married point-of-sale, touch screen software with the latest espresso brewing technology. It has created an integrated management system that can be incorporated into existing operations or provide a new solution that offers self service operations that can brew a cup of coffee, latte, cappuccino, mocha, espresso shot or hot chocolate to the customer’s order and process credit card information. “We’ve developed a software solution for managing coffee operations,” Leeman said. “We can actually monitor and control everything that goes on with the espresso/cappuccino machine through the Internet and locally to tie them into the payment device so that everything that is run through a coffee shop is actually accounted for.”

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Jerry Leeman, CEO Year started: 2009 Location: Shawnee, OK Employees: 5

– Jerry Leeman

Retired from IBM in 2008, Leeman was working with John Sharpley at Shawnee-based XBIZPRO when they began working on a point-of-sale software solution for an underperforming hospital gift and coffee shop. When it became apparent that a much larger market needed similar software solutions, Perk Dynamics, Inc., was established in 2009. Perk Dynamics created two products – PerkAlertTM and AutoPerkTM that enable espresso machines to communicate with a remote central office and connect to a point-of-sale device for controlling order management. Software developers were Dillon Sharpley and Roger Grant. The result is an interactive touch screen device that connects to the espresso machine, takes orders, provides instructions to customers and delivers sales information and selfmonitoring data to a central office. The PerkAlertTM software sets the company apart from competitors in that it offers remote monitoring and control of the espresso machines that other companies are unable to provide. “By the use of the PerkAlertTM, we can provide most of the remote monitoring and reporting that previously was available only when a technician was physically in front of the machine,” Leeman said. Perk Dynamics customers such as coffee service providers choose their own brand of coffee beans and the coffee products they wish to sell.

All of which means that the Perk Dynamics espresso machines are capable of serving venues where consumers might not associate with coffee drinks. In fact, the sight of the Perk Dynamics machine in action often sets off brainstorms as people begin to see possibilities in new locations. “Every time we show this solution to someone they tell us a new place they envision a coffee/espresso service,” Leeman said. “So far, the hot spots are hotels, universities, convenience stores, casinos, coffee shops, cruise ships, restaurants, offices and fast food restaurants.” H&H Shooting Sports Complex in Oklahoma City was the first Oklahoma location at which the espresso machines were deployed in beta tests this spring. It was quickly followed by a location at a grocery store on N. May Ave. in Oklahoma City. Perk Dynamics came to i2E upon the recommendation of BancFirst in Shawnee and has used its business and advisory services and is pursuing its access to capital sources. “i2E has helped us put together some business plans and refine our presentations,” Leeman said. “They have also provided recommendations for support organizations and introduction to potential capital investors.” Leeman anticipates an “explosion” of coffee availability in areas and venues never before served because of Perk Dynamics. Demand for espresso-style coffee drinks is growing by 20 percent a year, he said, “and the ability to add quality self service opens more doors.” “A roaster I recently spoke to said ‘this technology is very cool and you are sitting on a rocket that is about to take off,” Leeman said. For Perk Dynamics, liftoff is about to commence.

Product or technology: Software called AutoPerkTM and PerkAlertTM that manages coffee operations for a stand-alone, remotely operated espresso machine. Target markets: Coffee shops and venues such as convenience stores, hotels, restaurants and offices in which a stand-alone espresso machine can operate profitably. Future Plans: Potential new markets opportunities are suggested virtually every time the Perk Dynamics-controlled espresso machine is demonstrated for a potential customer. Other venues suggested include casinos, fast food restaurants and universities. Funding: The company has been self funded, along with capital provided by friends and family, a small amount of angel investment and revenue generated by sales that are just starting. Successes: Perk Dynamics has installed its technology with one manufacturer that has created a stand-alone coffee station for which its technology is core for its control. The Perk Dynamics machine is installed at H&H Shoot Sports café and a grocery store on N. May Ave. in Oklahoma City. www.perkdynamics.com

Dillon Sharpley, Vice President of Development for Perk Dynamics, demonstrates an espresso machine that is controlled by the company's AutoPerkTM software. Summer 2011

i&E

Profiles Perk Dynamics Inc.

“Every time we show this solution to someone they tell us a new place they envision a coffee/espresso service.”

BEAN ME UP SCOTTY!

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Jerry Leeman, CEO Year started: 2009 Location: Shawnee, OK Employees: 5

– Jerry Leeman

Dillon Sharpley, Vice President of Development for Perk Dynamics, demonstrates an espresso machine that is controlled by the company's AutoPerkTM software. Summer 2011

i&E

Profiles TokenEx,LLC

David Humphrey, CEO Year Started: 2010 Location: Tulsa, OK Employees: 5

Product or Technology: Tokenization of payment card numbers to protect consumers and businesses from data theft and fraud. Market: Merchants that handle credit and debit cards, which amounts to a $3 trillion market. Future plans: TokenEx is considering markets beyond the payment card industry where data needs to be secured, such as medical records.

here is a common thread that binds Sony Corp., TJX Cos. and Heartland Payment Systems in a legacy that none of the companies want to claim. Computer hackers stole millions of personal credit card numbers from each of them in highly publicized thefts of consumer data. In April of this year, Sony revealed that hackers had managed to steal payment records of 77 million users through its Sony Playstation network. Analysts estimate that it may cost Sony $1 billion to repair the damage. In 2006, TJX Cos., operator of popular retailers T.J. Maxx and Marshalls, revealed that up to 90 million credit card numbers had been compromised by hackers. But the mother of all data breaches occurred in 2009, when Heartland Payment Systems, a provider of credit and debit card processing services, reported that credit card data of 130 million consumers had been stolen by intruders into its system. Credit card fraud resulting from data thefts such as these costs retailers and payment card industry $100 billion a year in losses. Tulsa-based TokenEx was created to prevent those types of data breaches. It has de10

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veloped a patented “tokenization” process that substitutes actual credit card numbers with “tokens” that potential hackers can neither use nor replace with real numbers in the case of data theft. “Tokenization replaces credit card numbers with a surrogate value having no mathematical relationship with the original number,” said David Humphrey, TokenEX’s CEO. “This is not only a more secure solution than encryption, but it will directly integrate with existing legacy systems.” Integration is possible because the surrogate value is what David Humphrey calls, “format preserving.” In other words, when tokens replace a credit card number, it still has a 16-digit number, but the numbers are meaningless to anyone who may capture the credit card information. That differs from encryption, which retains the actual number but uses a complex mathematical formula that encrypts and decrypts data using special keys. “If you have the encrypted values and the keys, you can capture the real credit card numbers, this presents many challenges to those that wish to reduce risk and maintain compliance” Humphrey said.

The merchant does not retain the actual number in its database, which frees it from meeting costly – up to hundreds of thousands of dollars annually – security standards established by the Payment Card Industry Security Standards Council. TokenEx began in 2010 when co-founders Jerald Dawkins and Alex Pezold sketched out some ideas about the concept over coffee. Longtime veterans of the data security industry, the pair developed the tokenization technology and applied for and received a provisional patent. TokenEx has since secured more than $600,000 in funding through the i2E Concept Investment Fund, Angel investment and an applied research grant from the Oklahoma Center for the Advancement of Science and Technology. The company has moved rapidly toward deployment of its tokenization technology. Its first two customers have been signed, beta testing has begun and they should both be fully operational this summer, Humphrey said. “TokenEX would not be in its current position, poised for success, without the help and support of both i2E and OCAST,” Humphrey said. “These two organizations have provided significant support with the development of our market/competition analysis and business plan, and continuing fund-raising efforts and funding with the TBFP loan and the OCAST applied research grant.” Eventually, TokenEX software will help eliminate headlines like this from Computerworld magazine in 2009: “Heartland data breach could be bigger than TJX’s.” The headline was accurate. The loss of data was historic. The solution has arrived in TokenEx.

Funding: TokenEx has received $100,000 in i2E Concept Investment Fund financing, $300,000 in an OCAST Oklahoma Applied Research Support grant and $250,000 in Angel funding. Successes: In addition to securing $650,000 in capital, TokenEx has filed a patent around its technology and secured its first two customers. It is installing its infrastructure hardware and software and lining up co-location data centers. www.tokenex.com

“TokenEX is not only a more secure solution than encryption, but it will directly integrate with existing legacy systems.” – David Humphrey

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i&E

Profiles TokenEx,LLC

David Humphrey, CEO Year Started: 2010 Location: Tulsa, OK Employees: 5

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“TokenEX is not only a more secure solution than encryption, but it will directly integrate with existing legacy systems.” – David Humphrey

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i&E

CONCUSSION JUNCTION: What‘s your function?

Capacity Sports creates mobile, high tech tool to assess traumatic brain injury.

ulsa-based Capacity Sports has taken a novel approach to address the growing national concern over traumatic brain injuries and long-term effects of concussion suffered by athletes. It attempts to provide an objective answer to the most obvious question: “When are they ready to return to the game?” Capacity Sports put a mobile brain health evaluation tool on a smart phone that parents, coaches, trainers – even athletes themselves – can use anywhere to determine if they are healthy enough to return to action. Awareness of traumatic brain injuries in sports has never been higher, as reflected in stories about high profile athletes whose careers were shortened or were sidelined for months because of concussions. Concussions occur when violent blows result in bruising of the brain. Cumulative damage from repeated concussions or “second impact syndrome” can cause dementia or even death from swelling of the brain. Traumatic head injuries are a big concern in football, hockey, youth soccer and even tennis, where players can injure themselves diving for balls. The career of National Hockey League superstar Sidney Crosby has been jeopardized by lingering symptoms of repeated concussions he suffered on the ice, when proper recovery time was not allowed. In early June 2011, the University of Oklahoma football team was hit by the news that the career of defensive tackle Daniel Noble was over because of the lingering effect of a concussion.

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And in April, an article by the New York Times focused on the diverse impacts that head injuries had on two Major League baseball players, Justin Morneau of the Minnesota Twins and Josh Beckett of the Boston Red Sox. Morneau’s concussion kept him out of action for months, while Beckett returned to the field in little more than a week. The Times article contrasted the two concussions and highlighted the difficulty that health care professionals, sports trainers and the players themselves have in determining just how traumatic a head injury may be to an athlete. Crosby, Noble, Morneau, Beckett and thousands of other athletes, trainers, coaches and parents share a common dilemma: how do they know when it’s safe to return to the playing field? Founded in 2009 by Chase Curtiss, a young entrepreneur who began studying brain injuries while earning his master’s degree in Human Performance Studies at Wichita State University, Capacity Sports has created software that takes subjective guesswork out of the question. The Capacity Sports app is a mobile, self-evaluation tool that athletes, coaches and trainers can use to establish a baseline for their reaction time and awareness before any head injury occurs for comparison after a concussion. “Essentially, the Capacity Sports app is a personal screening tool for sports related brain injury,” Curtiss said. “Brain injury may be an obvious concussion where we can track recovery to full health, or the app could potentially be used to find signs of brain injury resulting from repetitive impacts

that have compounded over a season.” The innovative software works by measuring three critical categories of an athlete’s performance: balance, reaction time and memory. It’s all accomplished over the operating system of a smart phone, which means that an assessment can instantly be given on the sidelines of a game, in a trainer’s office, at home – anywhere. Users aren’t faced with actual test “questions;” rather, objective measurements are used to gauge critical areas that reflect brain health. “We are giving an exact value for balance, as opposed to a trainer or coach saying ‘that player kind of looks like they are off balance,’ Curtiss said. “Most other screening tools that are used, especially on the sideline, are all subjective, meaning that there is somebody there evaluating the player, subjectively guessing what their balance is, what their reaction time is. There is no quantitative value.” The Capacity Sports app was completed this spring and is being validated in a cooperative study between the Human Performance and Bioengineering Laboratories at Wichita State University throughout the summer months. Early tests have shown promise. Chase earned his master’s degree in human performance studies at Wichita State, but his journey down the entrepreneur’s path began in his native California. He grew up in Santa Cruz, the son of a high school football and basketball coach, and played sports through high school and college. At the University of Puget Sound in Tacoma, Wash., he was a four-year basketball team captain, NCAA All-American as a senior, two-time Male Athlete of the Year and became the school’s all-time 3-point shot leader among many other records. While earning his undergraduate degree with Honors in Exercise Science at Puget Sound, Curtiss met Dr. Jeremy Patterson, a clinical exercise physiologist and professor who subsequently joined the Human Performance Studies faculty at Wichita State University. Curtiss followed Patterson to Wichita and earned his graduate degree there. Curtiss conducted research in the university’s neuropsychology lab, taught undergraduate classes and became interested in the area of brain evaluation while at Wichita State. He concluded better evaluation tools were needed. “Those early experiences in the neuropsych lab are what spurred my interest in providing better tools for brain evaluation since the tools they had available were archaic and expensive,” Curtiss said. Curtiss and others enrolled in the Wichita State program were encouraged to pursue their entrepreneurial interests, said Dr. Patterson, who is leading the validation testing of the Capacity Sports app at Wichita State.

“Every student in our program has to do business proposals,” he said. “I think that helps with getting these students thinking about different niches and opportunities and finding little holes that might be missing in the market like this concussion app and other things that Chase is working with.” After graduation, Curtiss moved to Tulsa and began working as a medical exercise specialist. He established his own business, Exercise Physiology Center, and began working to create the technology that would become Capacity Sports. Curtiss also joined with his brother, Casey, and their dad in another business called Shot Science, a basketball skills “how-to” series of videos posted on YouTube. Shot Science recently was recognized as one of 25 national winners of the YouTube NextUp awards, which brought a $35,000 prize and participation in a week-long Google workshop with production experts in New York. The Capacity Sports technology shows such promise that Dr. Patterson sees potential for it beyond athletes. Older adults or cancer patients might benefit, for instance. “One of the things we are looking at is breast cancer patients and when they go through chemo do they have a cognitive impairment caused by the treatment,” Dr. Patterson said. “You can take something like Chase’s concussion app and turn that into something that assesses breast cancer patients going through treatment over time and getting some type of data that may actually help these patients.”

Capacity Sports founder Chase Curtiss looks on as Zack Stotler uses the concussion evaluation tool on an iPhone. Summer 2011

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CONCUSSION JUNCTION: What‘s your function?

Capacity Sports creates mobile, high tech tool to assess traumatic brain injury.

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Summer 2011

Capacity Sports founder Chase Curtiss looks on as Zack Stotler uses the concussion evaluation tool on an iPhone. Summer 2011

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Here is how the Capacity Sports app works to effectively assess an athlete’s condition. Athletes will take the evaluation both before and after suffering a head injury. The first test is used to establish a baseline. Users are encouraged to take multiple baseline tests to develop a more accurate “normal” function score.

Innovation A Proven Investment in Oklahoma

The Capacity Sports test measures three critical areas of an athlete’s performance: Balance: Using a motion sensor called a tri-axis accelerometer, which is built into smartphones such as the iPhone, Capacity Sports’ system can quantitatively screen athletes who have hit their heads for injuries at the site where the injury occurs. “What we actually measure is how much your upper body sways as the result of standing on one foot,” Capacity Sports founder Chase Curtiss said. “As you lose your balance and fall to one side, there are little micro-measurements, but we are going to pick up any details of where you are shifting your shoulders to try to correct for balance.”

Forrest Gandall takes a balance test using a mobile evaluation tool created by Tulsa-based Capacity Sports to assess traumatic brain injury

Dr. Singh, University of Tulsa

Helping Oklahoma innovators take their ideas to market every day.

(866) 265-2215

www.ocast.ok.gov

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Revenue will be generated for Capacity Sports by a small monthly or annual subscription fee charged to users. Curtiss sees a huge potential market in just amateur sports alone that includes 3 million youth soccer players, more than a million youth football players and 1.3 million hockey players in the U.S. and Canada. Curtiss began working with i2E’s Tulsa office after it was highly recommended by a previous i2E client. The relationship has benefitted the company as it developed the app, as well as provided $50,000 in capital investment from i2E’s Concept Investment Fund, Curtiss said. “It would not have been done and could not have been done without the help of i2E and their specializations,” he said. For professional athletes like Justin Morneau, Sidney Crosby or the 11-year-old soccer player who suffers a bump on the head, Capacity Sports is about to remove some of the uncertainty over when to take the field again. “What we are doing it taking the guesswork out of that decision,” Curtiss said. Now, there’s an app for that.

Reaction time: “The screen flashes red, you touch the screen and the app measures how quickly you respond and touch the screen,” Curtiss said. “What we are measuring is the stimulus of the eyes for measuring the signal from that point to how quickly it goes into the brain and the brain recognizes the color is red, the brain initiates the reaction out to the hand and the hand initiates the movement to touch the red button.”

Memory: “We accomplish that by a delayed recall,” Curtiss said. “We give them a list of 12 words to memorize. They have 30 seconds to memorize the words, then are given a working memory test as a distraction. Following the working memory test users are asked to recall the words they were given earlier. What delayed recall means is that we show you the words, we distract you and then you have to tell us what the words were.”

It’s all “objective measurement,” Curtiss said. “We do ask them if they have any symptoms. We don’t want to test anyone who has any symptoms, because if they have symptoms we know they likely have some form of brain injury and there is no need to test them. They are done.”

Summer 2011

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Innovation A Proven Investment in Oklahoma

Forrest Gandall takes a balance test using a mobile evaluation tool created by Tulsa-based Capacity Sports to assess traumatic brain injury

Dr. Singh, University of Tulsa

Helping Oklahoma innovators take their ideas to market every day.

(866) 265-2215

www.ocast.ok.gov

Small Business>>Agriculture>>Health>>Manufacturing>>Energy>>Environment>>Technology>>Internships

Summer 2011

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NEW FUNDS TO ACCELERATE OKLAHOMA’S SMALL BUSINESS GROWTH

WITH THE ADDITION OF THE ACCELERATE OKLAHOMA! FUNDS, i2E now offers a continuum of investment capital for Oklahoma’s emerging high growth companies over a wide spectrum of the business lifecycle, from the earliest conceptual stage on through to the growth stage where companies have both a product, revenue and customers. Here’s how i2E’s access to capital services will ﬂow through the stages of company development: Oklahoma Concept Fund: As a part of the Oklahoma Seed Capital Fund, these investment dollars target companies still in the conceptual stage that don’t yet have an actual product. The investment capital will allow them to transition an idea to a working prototype and/or validate the value to the targeted customer in order to evaluate the business concept. Oklahoma Seed Capital Fund: This seed stage fund targets companies that may or may not already have customers, some revenues and a scalable product. The investment funds enable them to build a business infrastructure around their concept or product. StartOK Accelerator Fund: This fund targets companies that are in the earliest stages or startup stage that have not yet generated any revenue or completed a market launch. These investment funds will enable them to take their concept or product prototype into beta test phase with potential customers or first sales. GrowOK Fund: A new fund for Oklahoma’s high growth market, the GrowOK Fund targets established companies with existing products or services that are generating revenue in the market place. The fund will enable these companies to expand new products or services and allow even more growth in both revenue and employees.

Tom Walker, President and CEO of i2E, Inc. (left), with Dave Lopez, Oklahoma Secretary of Commerce.

Access to capital opportunities for Oklahoma’s high growth entrepreneurs has taken a big leap forward with a joint initiative called Accelerate Oklahoma! by i2E and the Oklahoma Department of Commerce that created three investment funds totaling a collective $13.2 million. The two organizations teamed to transform Oklahoma’s share of the federal State Small Business Credit Initiative (SSBCI). As a result of the Oklahoma collaboration, three new funds were created that each offer $3 to $5 million in equity investment capital for state-based entrepreneurs, depending on the lifecycle stage of their business. The new investment funds are appropriated by the U.S. Treasury Department through the Oklahoma Commerce Department and managed by i2E. “It is good to learn that Oklahoma is among the first few states to complete this process and that these funds will be available to our small businesses,” said Dave Lopez, Oklahoma Secretary of Commerce. “We appreciate work16

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ing with the U.S. Treasury, and we now look forward to positive outcomes as i2E works with companies in Oklahoma to drive innovation and grow jobs.” Stakeholders anticipate the funds will help attract up to $130 million in subsequent private investment in Oklahoma companies that receive Accelerate Oklahoma! capital. Investment opportunities need to have a 1:1 co-investment at the deal level; provide 10:1 private investment leverage; utilize capital to achieve a major milestone; and senior management must reside in Oklahoma; and be willing to participate a rigorous due diligence process. “The bottom line is that the creation of Accelerate Oklahoma! will broaden access to capital opening the way for more rapid development of innovative businesses and more high paying jobs for Oklahoma,” said Tom Walker, i2E President and CEO.

Oklahoma Angel Sidecar Fund: This investment fund overlays all four of the i2E companion funds, providing leverage and capital to angel investment in Oklahoma companies at any stage of the continuum of business development. The OK Angel Sidecar fund essentially doubles the size and scope of angel investment in Oklahoma because it requires a one-to-one co-investment from angel investors and/or angel groups. Manufacturers Innovation Fund: This is a pilot program that provides debt financing for established Oklahoma manufacturers. Financing through this program will allow them to innovate or expand with production of a new product or improve an existing product. Repayments of financing awards will support subsequent future financings through the fund. SeedStep Angels Group: This is a network of more than 20 successful Oklahomans who provide capital, strategic advice and mentoring to emerging growth companies to help them succeed. Typical investments range from $50,000-$500,000 with individual members making investment decisions.

Summer 2011

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NEW FUNDS TO ACCELERATE OKLAHOMA’S SMALL BUSINESS GROWTH

Tom Walker, President and CEO of i2E, Inc. (left), with Dave Lopez, Oklahoma Secretary of Commerce.

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Summer 2011

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DONALD W. REYNOLDS 2011 GOVERNOR’S CUP

2011 Graduate Division WINNERS University of Oklahoma Faculty Advisor: Elaine Hamm Team Leader: Benjamin West Team Members: Chase Roberts, Tobi Olusola, Majed Gharfeh CerebroGen is developing an antibody-based drug therapy to treat epilepsy. Building on more than a decade of research, the company’s drug removes a recently discovered cause of epilepsy unaddressed by existing treatments. With a regulatory approval strategy focused on reaching the market quickly through orphan status, CerebroGen is committed to bringing a muchneeded therapeutic to Juvenile Epileptics, followed by

Participants take ﬁrst steps down entrepreneurial path

romising new technologies were spotlighted and thousands of dollars in prize money was awarded in the 2011 Donald W. Reynolds Governor’s Cup, but the most important accomplishment from the competition was its impact on Oklahoma’s future entrepreneurs. More than 150 college students from college campuses across the state took their first steps down the entrepreneur’s pathway in the 2011 Governor’s Cup. They formed teams, researched the market, wrote a business plan and then pitched it before a panel of investors and Oklahoma business leaders. For some, prize money in excess of $100,000 was reward enough for the challenges of the competition. For others, the awards dinner represented a momentary celebration as they prepare to begin a life of building high growth startup businesses. First place teams in both divisions of the Oklahoma competition won $20,000 each, while second place earned $10,000 each and third place $5,000 each. They described new medical technologies to treat and monitor epilepsy and heart disease, as well as diagnose influenza, recover oil and gas more efficiently and manage complicated land leasing issues.

As Graduate Division winner of the Oklahoma competition, CerebroGen was one of four Oklahoma teams that advanced to the Tri-State competition. CerebroGen added $25,000 to its prize total as winner in the Las Vegas event. Team leader Benjamin West attributed the team’s success in part to Oklahoma’s economic development community that encourages development of emerging entrepreneurs like those on CerebroGen. “We think of this as a product of the Oklahoma eco-system,” West said moments after CerebroGen walked off the stage as Tri-State winners. “We were the people on the stage, but it’s a reflection on Oklahoma and not what we’ve done. The Governor’s Cup is underwritten by the Donald W. Reynolds Foundation and local sponsors. It is managed by i2E. “We’re pleased to see so many of Oklahoma’s best and brightest college students take this important step forward toward building a career in entrepreneurship,” said Tom Walker, i2E President and CEO. “All Oklahomans should be as proud as we are of these students who researched, wrote and pitched such outstanding business plans.”

a product indicated for the broader market.

FIRST PLACE: $20,000 CerebroGen Pharmaceuticals

University of Tulsa Faculty Advisor: Michelle Witt Team Leader: Stephen Fain Team Members: Ryan Eslicker, Nathan Garrett IASO has developed “SPI Gel,” an environmentally friendly, silica-based enhanced oil recovery system that seals off inefficient reservoir zones, allowing more trapped oil to be recovered. Well operators that use SPI Gel can expect up to a 50 percent increase in daily oil recovery and decreased expenses.

Second Place: $10,000 IASO

Oklahoma City University Faculty Advisor: Kewei Sha Team Leader: Adele Rehm Team Members: Alexis Caron, Bridget Poputa-Clean TerraCoda provides real time enterprise land management, geo-spatial analysis tools, and report generation and mapping solutions for the land, energy, realty, right-of-way procurement, and municipal markets. TerraCoda’s Landman 360 software will provide full end-to-end visibility into the leasing process by providing effective tools that manage the leasing lifecycle.

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Third Place, $5,000 TerraCoda Software

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DONALD W. REYNOLDS 2011 GOVERNOR’S CUP

Participants take ﬁrst steps down entrepreneurial path

a product indicated for the broader market.

FIRST PLACE: $20,000 CerebroGen Pharmaceuticals

Second Place: $10,000 IASO

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Third Place, $5,000 TerraCoda Software

Summer 2011

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2011 Undergraduate Division WINNERS

LumiDX is an influenza diagnostics

Other 2011 Governor’s Cup Opportunities:

company that offers ChemLight, a

First Place: $20,000 LumiDX

fast, highly accurate tool that har-

OG&E Positive Energy Award went

nesses chemiluminescent technology

to Brandon Mikael and Matthew

to offer a cutting edge innovation in

Huber from the University of Okla-

the point-of-care diagnostic market.

homa, with the assistance of faculty

LumiDX aims to be first to market

advisor Lowell Busenitz, based on

with diagnostic tests that are simple, accurate and fast enough to provide results at the point-of-care.

University of Oklahoma Faculty Advisor: Jim Wheeler Team Leader: Amy Henderson Team Members: Ashley Zumwalt, Mimi Nguyen, Kaelyn Lu

their work writing a plan around a tension and gauge device that saves time and money for utility companies. The OG&E Positive Energy Award supports Oklahoma college students in developing a business plan based on a technology product in the area of alternative energy, energy storage,

Vita Rhythm has developed a medical device to treat heart failure. The AdvaHeart is a left ventricular assist device that helps eject blood from the left ventricle of a weakened heart. It is smaller and more easily and safely implanted in patients. Second Place: $10,000 Vita Rhythm

ery methodologies, enhanced energy controls, and energy infrastructure optimization techniques. Al Tuttle Business Incubation Award winner TerraCoda Software from

ness services in one of four participating Oklahoma business incubators for the graduate division team in which at least one of the students plans to go forward with the business.

ated technology to apply video-EEG monitoring capabilities to the medical diagnostic area of epilepsy. The company has at its disposal a critical mass Third Place: $5,000 Dreamcatcher Services, LLC

Oklahoma Business Roundtable Paulsen Scholarships were awarded to Ashley Zumwalt from the University of Oklahoma and Faith Garlington from Oklahoma

of talent and individuals necessary for

State University. The Paulsen Award,

the efficient, speedy and profitable

which provides a $5,000 scholarship

application of video-EEG technologies

that can be used to pay tuition at

in the target market.

any Oklahoma college or university,

Oklahoma City University Faculty Advisor: Robert Greve Team Leader: Michael Roselle Team Members: Feng Dong, David Scott, Patrick Kennedye

“I’m hoping it will be a learning experience on the entrepreneurship side because some day I may want to start my own company,” she said. “I’m very excited about the Fellows program.” Nine Oklahoma college students served i2E Fellowships in the program’s first two years. It is underwritten by the Greater Oklahoma City Chamber, the Oklahoma Medical Research Foundation, the city of Oklahoma City, the Presbyterian Health Foundation, the Oklahoma Business Roundtable and the Economic Development Administration. This year, seven students in addition to Laura have been named as i2E Fellows. The students were selected from among 37 who submitted Fellowship applications after interviews with i2E professionals and entrepreneurs for whom they will be working.

conservation technologies, new deliv-

brings a year of ofﬁce space and busi-

Dreamcatcher Services, LLC has cre-

There’s no textbook for the i2E Fellows program. It’s a handson, real world experience in which students earn $6,000 while working for 10 weeks at an Oklahoma entrepreneurial company on projects designed around the skills each student brings to the position. For students, the Fellowship offers a realistic look at the challenges faced by entrepreneurs in building a business from the ground up while contributing to its success. Businesses receive help with short-term business projects, as well as a 10week association with a possible future full-time employee. Laura Medcalf, a senior computer science major from East Central University in Ada, will put her programming and social media skills to work this summer in online marketing campaigns for Oklahoma City-based Mintiva. The Fellowship will provide Laura with an insider’s perspective on the day-to-day operations of a startup company.

unique energy generation, energy

Oklahoma City University. The award

University of Oklahoma Faculty Advisor: Blake Gudgel Team Leader: Jessica Wills Team Members: Brett Gudgel, Brittany Myers, Erikka Roberts

i2E FELLOWS: ULTIMATE LEARNING EXPERIENCE

was named in honor of Don Paulsen, long-time President of the Oklahoma Business Roundtable.

2011 Fellows Orgil Batsaikhan, MBA and Master of Finance candidate at the University of Tulsa. Company: Consolidated Networks Corp. Project: Orgil developed statistical models to optimize Consolidated Networks’ technical support services to school districts and government agencies across the United States. Alexis Caron, MBA graduate at Oklahoma City University Company: Consolidated Networks Corp. Governor’s Cup teams: Lenio Medical, 2010; TerraCoda Software, 2011 Project: Alexis develops Consolidated Networks’ partner relationship program, recruiting software and content providers for the company’s engineered network solutions.

Arun Kumar, MBA graduate at Oklahoma City University Company: WeGoLook.com Governor’s Cup team: CrowdLure, 2011. Project: Arun assists WeGoLook.com on launching, tracking and evaluating multiple new social media marketing initiatives.

Anthony Moorehead, MBA candidate at Oklahoma City University Company: i2E, Inc. Project: As a Spring 2011 Business Fellow for i2E, Anthony worked with i2E’s business advisory and operations teams on business plan review and consulting and new i2E initiative projects.

Laura Medcalf, senior Computer Science major at East Center University Company: Mintiva Project: Laura manages and grows Mintiva’s social media marketing campaigns and provide return-on-investment analysis on those efforts.

Lucas Rice, junior Industrial Engineering major at the University of Oklahoma Company: i2E, Inc. Governor’s Cup team: UniPHI, 2010 Project: An Investment Fellow for i2E, Lucas works with the investment team on ﬁnancial modeling, market and competitive analysis and business plan revisions.

Audrey Metzier, MBA Candidate at Oklahoma City University Company: Otologic Pharmaceutics Project: Audrey performs capital development for Otologic along with project management on competitive analysis and creation of compelling business presentations.

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Howard Haines, Ph.D. candidate in Entrepreneurship at the University of Oklahoma Company: i2E, Inc. Project: Howard assists i2E staff with reporting, process design and providing venture advisory services to its clients. Summer 2011

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2011 Undergraduate Division WINNERS

LumiDX is an influenza diagnostics

Other 2011 Governor’s Cup Opportunities:

company that offers ChemLight, a

First Place: $20,000 LumiDX

fast, highly accurate tool that har-

OG&E Positive Energy Award went

nesses chemiluminescent technology

to Brandon Mikael and Matthew

to offer a cutting edge innovation in

Huber from the University of Okla-

the point-of-care diagnostic market.

homa, with the assistance of faculty

LumiDX aims to be first to market

advisor Lowell Busenitz, based on

with diagnostic tests that are simple, accurate and fast enough to provide results at the point-of-care.

University of Oklahoma Faculty Advisor: Jim Wheeler Team Leader: Amy Henderson Team Members: Ashley Zumwalt, Mimi Nguyen, Kaelyn Lu

ery methodologies, enhanced energy controls, and energy infrastructure optimization techniques. Al Tuttle Business Incubation Award winner TerraCoda Software from

ness services in one of four participating Oklahoma business incubators for the graduate division team in which at least one of the students plans to go forward with the business.

ated technology to apply video-EEG monitoring capabilities to the medical diagnostic area of epilepsy. The company has at its disposal a critical mass Third Place: $5,000 Dreamcatcher Services, LLC

Oklahoma Business Roundtable Paulsen Scholarships were awarded to Ashley Zumwalt from the University of Oklahoma and Faith Garlington from Oklahoma

of talent and individuals necessary for

State University. The Paulsen Award,

the efficient, speedy and profitable

which provides a $5,000 scholarship

application of video-EEG technologies

that can be used to pay tuition at

in the target market.

any Oklahoma college or university,

Oklahoma City University Faculty Advisor: Robert Greve Team Leader: Michael Roselle Team Members: Feng Dong, David Scott, Patrick Kennedye

conservation technologies, new deliv-

brings a year of ofﬁce space and busi-

Dreamcatcher Services, LLC has cre-

unique energy generation, energy

Oklahoma City University. The award

University of Oklahoma Faculty Advisor: Blake Gudgel Team Leader: Jessica Wills Team Members: Brett Gudgel, Brittany Myers, Erikka Roberts

i2E FELLOWS: ULTIMATE LEARNING EXPERIENCE

was named in honor of Don Paulsen, long-time President of the Oklahoma Business Roundtable.

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With research and writing complete, now it’s time to submit your plan online. Written business plans will be judged by

Governor’s Cup 2012 The Governor’s Cup Business Plan competition is evolving to bring you more in 2012 … more opportunities to hone your idea with a professional review, more teams moving forward to the presentation round and more cash prizes – nearly 40 awards up for grabs – totaling $154,000. So here’s the big picture:

The Prep

investment, business and community leaders, who will score the plans and provide feedback that can be used by teams to improve their presentation should they advance to the next round. Scores from the business plan judging will be paired with rankings from the Interviews, and cumulative scores will be used to determine the 24 semiﬁnalists – 12 Graduate and 12 Undergraduate. This round is worth $36,000, with each team that advances earning $1,000 and advisors/mentors $500 each.

The Plan

First up is the Who Wants to Be an Entrepreneur workshop. Designed for college students, this is a no-cost, one-day course on all the essentials of entrepreneurship, from researching a concept, writing a business plan, making ﬁnancial projections and pitching your concept. Next, you need to determine an innovative product, process or service around which to build a business plan – then carefully select up to 6 team members from diverse academic disciplines and ﬁnd a faculty advisor or team mentor who can guide you. You also will want to take advantage of an opportunity to have your idea reviewed by venture development professionals.

The Interview In the real world, ideas don’t make it far without input from industry experts. Each competing team will sit down for a 20 minute interview where you will be probed on your knowledge of the concept and you can ask the panel for advice. Teams will be interviewed based on their industry category rather than academic division. There is no presentation, no handouts, no guests … just the team and the panel. This is more than a casual discussion … $25,000 in prize money is on the line. After the last interview, each panel will rank the teams with the top-ranked team in each category winning $5,000. The ranking will later be used to establish a cumulative score that will help determine which teams advance to the oral competition.

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The Presentation

It all comes down to this with $80,000 on the line. As one of 24 semifinalist teams you will make a 20-minute investor presentation about your business opportunity. Your delivery, content and ability to field tough questions by the judges will earn you the opportunity to advance to the final round of presentations. Finalists will be announced at a networking reception at the conclusion of the semifinalist round of presentations. The judges’ comments will be provided after the announcements so teams can review that evening and prepare for the next day’s final round. A representative from each of the finalist teams will also make a 90-second pitch worth an additional $5,000. Simultaneous to the oral presentations will be interviews for the Oklahoma Business Roundtable Paulsen Award, which provides two students with a $5,000 scholarship that can be used for tuition on any Oklahoma college campus.

The Rewards

Winners of the Governor’s Cup competition will be announced at a gala Awards Dinner before an audience of 500. The top two teams in each division will go on to compete in the Tri-State Competition in Las Vegas, where an additional $90,000 will be awarded. That’s more than $250,000 in cash prizes – plus scholarships – that will be awarded. But the sum of all the parts of the Governor’s Cup is bigger than the cash or even the bragging rights. It is networking, job opportunities, life-long relationships and an experience that will help guide you as you continue your journey down the entrepreneur’s path.

www.okgovernorscup.org

Summer 2011

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With research and writing complete, now it’s time to submit your plan online. Written business plans will be judged by

The Prep

The Plan

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The Presentation

The Rewards

www.okgovernorscup.org

Summer 2011

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PARTNERS

i2E, Inc. www.i2E.org i2E has been a primary source of concept, seed stage and start-up capital for Oklahoma’s high growth companies for more than a decade. The rigorous approach of our services has built a reputation for producing companies that are well positioned for investment capital. i2E and its partners have developed a series of investment funds that target companies at particular stages of the business lifecycle and also complement Oklahoma angel investors and venture capitalists. We also provide venture advisory and entrepreneurial development services. The results speak for themselves: Clients enjoy job, revenue and capital growth significantly higher than the state average. The state benefits from new globally competitive businesses, high quality jobs and an enhanced quality of life.

OCAST Oklahoma Center for the Advancement of Science and Technology www.ocast.staste.ok.us As the state’s only agency whose sole focus is technology, OCAST is a small, high-impact agency funded by state appropriations and governed by a board of directors with members from both the private and public sector. OCAST works in partnership with the private sector, higher education, CareerTech and the Oklahoma Department of Commerce.

Greater Oklahoma City Chamber www.okcchamber.com The Greater Oklahoma City Chamber works to create valueadded membership opportunities and a business climate that attracts new businesses and enhances growth and expansion opportunities for existing business.

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The Presbyterian Health Foundation is a major contributor to medical research and education in Oklahoma. In 1996, it began the PHF Research Park, believing that a science-based company with patented products discovered in the medical research laboratory of the University of Oklahoma ought to be launched here Oklahoma.

Oklahoma Department of Commerce www.okcommerce.gov The Oklahoma Department of Commerce is the primary economic development entity in the state. Its mission is to increase the quantity and the quality of jobs in Oklahoma. It accomplishes that mission that through the following means: · Business Attraction, Creation and Retention · Community Development · Knowledge-Based Industry Development · Workforce Development, Recruitment and Retention

City of Oklahoma City www.okc.gov The City of Oklahoma City’s mission is to provide leadership, commitment and resources to achieve its vision by offering a clean, safe and affordable City; providing well managed and maintained infrastructure; excellent stewardship of public assets and a variety of cultural, recreational and entertainment opportunities, as well as creating and maintaining effective partnerships to promote employment opportunities and individual and business success.

Oklahoma Manufacturing Alliance www.okalliance.com

Oklahoma Business Roundtable www.okbusinessroundtable.com

The Donald W. Reynolds Foundation www.dwreynolds.org

The Oklahoma Business Roundtable, formed in 1991, is a 501(c)(6) nonprofit corporation. The Roundtable’s mission is to encourage and promote Oklahoma’s economic development. The Roundtable accomplishes this by providing critical private funding in support of the economic development efforts of the Governor and Oklahoma Department of Commerce by encouraging business investment and jobs in Oklahoma.

The Foundation is a national philanthropic organization founded in 1954 by the late media entrepreneur for whom it is named. Headquartered in Las Vegas, Nevada, it is one of the 50 largest private foundations in the United States.

State Small Business Credit Initiative www.treasury.gov/resource-center

OKLAHOMA EPSCoR The Oklahoma Experimental Program to Stimulate Competitive Research www.okepscor.org

The Small Business Jobs Act of 2010 created the State Small Business Credit Initiative, which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers. The State Small Business Credit Initiative is expected to help spur up to $15 billion in lending to small businesses. Under the State Small Business Credit Initiative, participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs.

U.S. Economic Development Administration www.eda.gov This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.

Presbyterian Health Foundation www.phf.com

Oklahoma Medical Research Foundation www.omrf.org Founded in 1946, the Oklahoma Medical Research Foundation is one of the nation’s oldest and most respected nonprofit biomedical research institutes. Located in Oklahoma City, OMRF fosters a worldwide reputation for excellence by following an innovative cross-disciplinary approach to medical research.

The Alliance is a not-for-profit organization providing a variety of support to Oklahoma industry. Through a network of Manufacturing Extension Agents and Applications Engineers, the Alliance provides hands-on resources for improving productivity, increasing sales and reducing costs.

U.S. Department of Treasury www.treasury.gov The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions.

Oklahoma EPSCoR’s central goal is to increase the state’s research competitiveness through strategic support of research instruments and facilities, research collaborations and integrated education and research programs. They are funded through a three-year (FY2005-2008) $6 million Science Foundation Research Infra-Structure Improvement Grant matched by an additional $3 million from the Oklahoma State Regents for Higher Education. Summer 2011

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PARTNERS

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Summer 2011

Oklahoma Manufacturing Alliance www.okalliance.com

Oklahoma Business Roundtable www.okbusinessroundtable.com

The Donald W. Reynolds Foundation www.dwreynolds.org

State Small Business Credit Initiative www.treasury.gov/resource-center

OKLAHOMA EPSCoR The Oklahoma Experimental Program to Stimulate Competitive Research www.okepscor.org

Presbyterian Health Foundation www.phf.com

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TAKING OFF:

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Summer 2011