Innovation Report 2017 by Innovate Mississippi

2016-2017 Innovation Report, a publication of Innovate Mississippi. Inside this, our second issue, you’ll discover inspiring stories on innovation that took place throughout Mississippi in 2016. The Innovation Report was created to reflect and showcase the extensive breadth of Mississippi’s innovation ecosystem. It also highlights the accomplishments, partnerships, and vision of Innovate Mississippi and our partners – all of which work in tandem to drive the growth of innovation-based companies, jobs and wealth within our state. In addition to assisting startups, significant efforts are focused on existing industries and manufacturers, through the InnovateMEP Mississippi program. These two areas are closely aligned, as we’ve had much success connecting startups and inventors with existing manufacturing companies, ultimately building a stronger base for businesses in Mississippi. Nearly every community and industry in the state is represented in the following pages, and you will find stories that capture the immense power of innovation in the startup and existing industry sectors. Innovate Mississippi is proud of our role in these companies and projects, and we are excited to share them with you. On behalf of Innovate Mississippi’s staff and Board of Directors, I hope this issue of the Innovation Report shines a bright spotlight on our state’s remarkable innovation and technology activity, broadens the scope of our work and impact, and fosters a collaborative vision for substantially growing Mississippi’s innovation economy in 2017 and beyond.

Welcome

WELCOME TO THE

TONY JEFF PRESIDENT & CEO, INNOVATE MISSISSIPPI tjeff@innovate.ms

Tony Jeff

PRESIDENT & CEO

Sandra Buckley EXECUTIVE EDITOR

Janet Parker

ENTREPRENEURIAL DEVELOPMENT

INNOVATION ECOSYSTEM

EVENTS

INNOVATEMEP MISSISSIPPI

ADVERTISING DIRECTOR

Mabus Agency PUBLISHER

121 NORTH STATE STREET THIRD FLOOR, SUITE 500 JACKSON, MS 39201 601 960 3610 INNOVATE.MS

ON THE COVER; DR. BILL RAYBURN PHOTOGRAPHED BY SHARON COKER PHOTOGRAPHY

CONNECT WITH US @InnovateMS

Contents 15

SHEENA ALLEN

WSN LIVE

EDGE THEORY: HELPING COMPANIES COMMUNICATE

MOMENTUM DRYER

GROWTHX

20 ALGIX

WSN Live is partnering with high schools around the region, streaming their sporting events live, while boosting fundraising for their sports programs.

One Mississippi company sets a new standard for branded content, attracting the likes of Match.com, Mayo Clinic and Neiman Marcus.

24 SEED FUND

37 HACKATHON

THE LIFE CYCLE OF A MISSISSIPPI STARTUP

WORKING TOGETHER: THE RISE OF COWORKING SPACES

39 ANGEL INVESTING

An interview with Oxford’s Bill Rayburn, who revolutionized the mortgage industry and helped make 45 Mississippians millionaires.

Coworking spaces are popping up all across Mississippi, meeting the needs of small startup companies.

40 MIST CLUSTER

THE MISSISSIPPI INNOVATORS HALL OF FAME AWARDS GALA

CONFERENCE ON TECHNOLOGY INNOVATION

49 MISSISSIPPI NEW VENTURE CHALLENGE

Innovate Mississippi inducted four Mississippians into the Innovators Hall of Fame and honored many more.

The 17th annual conference attracted innovators, investors and service providers from across the state, and featured keynote presentations, breakout sessions and networking.

56 INNOVATEMEP MISSISSIPPI OVERVIEW

INGALLS SHIPBUILDING

REACTIVE SURFACES

63 THE MAXBIT

InnovateMEP Mississippi partnered with Ingalls Shipbuilding to fulfill their skilled worker needs by establishing an apprentice program.

InnovateMEP Mississippi partnered with Reactive Surfaces to increase production of the company’s smudge-free phone screens.

22 STARTUP WEEKENDS 31

BRYDGE4SCHOOLS

40 INNOVATION MONTH

55 DISCOVERY LUNCHEONS

64 ESCO MS EXPANSION

Matthew Holleman

AT&T

Matthews Cutrer Lindsay

Baker Donelson

McLaughlin, PC

BankPlus

Millsaps

BKD

Mississippi Development Authority

Bradley

Mississippi Economic Council

Burson, Entrekin, Orr, Mitchell & Lacey, PA

Mississippi Gulf Coast Chamber of Commerce

Butler Snow

Mississippi Manufacturers Association

Century Club Charities

Mississippi Media

Children’s of Mississippi

Mississippi State University

Coalesce

mTrade, Inc.

Community Bank

Next Gear Solutions

C Spire

Northwest Mississippi Community College

Deborah Hicks Midanek Bailey Doleac Electric Company, Inc. Edge Theory Entergy FNC, Inc. Friends of Children’s Hospital Fuse.Cloud Gilchrist, Sumrall, Yoder, Yoder & Leggett, PLLC Good Code & Design Gulf Coast Business Council HORNE LLP Howard Industries InnovateMEP Mississippi Insight Park Internal Medicine & Pediatrics Associates

Oxford-Lafayette County Economic Development Foundation Pileum Port of Gulfport Reactive Surfaces Regions Sanderson Farms SchoolStatus Sociallyin Soul City Hospitality Spread Networks St. Dominic Health Services Foundation Sun & Co. Systems Companies TelehealthONE The Innovation Center

IZ Systems

The Sunray Company

Jackie’s International

The University of Mississippi

Jackson Marriott

The University of Mississippi Medical Center

Jackson State University Jan & Lawrence Farrington Jones Walker Kopis Mobile Law Office of David Pharr Littler Mabus Agency Madison County Business League & Foundation Madison County Economic Development Authority

Sponsors

Advantage Business Systems

The University of Southern Mississippi School of Business Think Webstore Triton Trustmark Bank UMMC Center for Telehealth UPS Connect USA International Ballet Competition Venture Technologies Visit Jackson

Magnolia Business Alliance

VSS

Mahaffeys’ Quality Printing

Zavation

Thanks to the support of our many partners, Innovate Mississippi is making a solid and meaningful impact on Mississippi’s workforce and economy. Want to join our mission and be a part of the innovation transformation? Contact JANET PARKER at JPARKER@INNOVATE.MS or 601.960.3611.

THE INNOVATE MISSISSIPPI IMPACT

Key Metrics Since Inception: MORE THAN 6,000 HIGHPAYING JOBS CREATED THROUGH CLIENT COMPANIES COST OF LESS THAN $1,000 PER JOB CREATED RETURNING AT LEAST 10X TO THE STATE VS. COST THROUGH DIRECT INCOME TAXES

THE ONLY ORGANIZATION IN MISSISSIPPI FOCUSING ON EARLY-STAGE INNOVATION AND TECHNOLOGY BUSINESSES

THE ONLY ORGANIZATION IN MISSISSIPPI THAT CONNECTS STARTUPS WITH INVESTORS

THE ONLY ORGANIZATION IN MISSISSIPPI FOCUSING ON INNOVATION DEVELOPMENT WITHIN INDUSTRY

DEVELOPING AND PARTNERING WITH MISSISSIPPI INVESTORS MEANS COMPANIES ARE MORE LIKELY TO PUT DOWN ROOTS AND STAY

TRAILING 12 MONTHS:

371

$1,347

100

JOBS CREATED

ONE YEAR STATE COST PER DOCUMENTED JOB CREATED

ADDITIONAL JOBS ESTIMATED FROM PREVIOUS & CURRENT CLIENTS

$1,062

165

ONE YEAR STATE COST PER DOCUMENTED & ESTIMATED JOB CREATED

NUMBER OF NEW MISSISSIPPI ENTREPRENEURIAL VENTURES

NUMBER OF NEW MISSISSIPPI ENTREPRENEURS PARTICIPATING IN INNOVATE MISSISSIPPI EVENTS

$9.5M

$36M

$81.4M

COST SAVINGS DOCUMENTED THROUGH CLIENT SURVEYS

NEW CLIENT SALES DOCUMENTED THROUGH DIRECT CLIENT SURVEYS

NEW CLIENT INVESTMENT DOCUMENTED THROUGH DIRECT CLIENT SURVEYS

HOW INNOVATE MISSISSIPPI CREATES JOBS AND ECONOMIC IMPACT FOR STARTUPS

EXISTING INDUSTRY

Facilitating Mississippi startups through Startup Weekends and other entrepreneurial events

Innovation Deployment: Connecting new innovations to existing companies

Developing new innovations into investor-ready ventures focusing on five parallel paths: technology, markets, finance, management and execution

Reshoring: Working with companies to bring overseas production to Mississippi

Connecting companies with management, mentors, MBA student teams from Mississippi universities, service providers (accountants, attorneys, etc.) and eventually with investors Utilizing a variety of proprietary online resources, templates and models for commercialization Vetting of deals and referrals to partner organizations when needed; i.e., facilities, etc.

Partnered with universities and community colleges to operate InnovateMEP Mississippi Centers at Itawamba Community College, Mississippi Corridor Consortium, Mississippi Gulf Coast Community College, Mississippi State University-CAVS and Mississippi Polymer Institute MEP Centers provide workplace modernization solutions, including lean manufacturing as well as topline growth solutions such as new markets, new products and export opportunities

Where Public Meets Private

Coming Together for The Betterment of All

The Madison County Economic Development Authority is a public entity that offers a broad array of economic development, business development, and corporate site location assistance services to new and expanding businesses and industry. The Madison County Business League & Foundation is a private, stakeholder-based support organization that works with business owners and decision makers to discuss topics that affect economic development. Together, we continue to build upon the economic development infrastructure of Madison County. We recognize and salute the industry and businesses for the contribution they make towards our quality of life.

135 Mississippi Parkway, Canton, MS 39046 601.605.0368 | madisoncountyeda.com

135 Mississippi Parkway, Canton, MS 39046 601.832.5592 | madisoncountybusinessleague.com

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Smart People. Smart Business. Smart Solutions.

you get to the point that you

ENTREPRENEURIAL DEVELOPMENT

“Once your passion grows,

want to build something that makes a real change.”

hen Sheena Allen began developing mobile apps in 2011, she didn’t realize the industry was mostly a boys’ club. “Black women in tech aren’t exactly supposed to build a tech empire,” said Allen. “But I didn’t know I wasn’t supposed to do this.” According to the National Center for Women & Information Technology, only 25 percent of the computing workforce is composed of women, and only 3 percent of them are African-American.  Nevertheless, she successfully launched six apps with 2.5 million active users over the past five years, while simultaneously crushing the tech industry stereotypes. It all began in 2011, when she was a senior at the University of Southern Mississippi. Allen found herself searching for a money- and receipt-tracking app after checking out at the grocery store. When she couldn’t find one, she decided to teach herself to code and built the app herself. While it wasn’t

very successful when it launched, she did discover that she enjoyed the process. Today, Allen’s apps are not only popular among average users, they’ve gained attention from quite a few celebrities. Her most famous app, PicSlit, prompted a response from Steven Jackson, New England Patriots running back. Jackson contacted her directly to let her know how much he enjoys using the app.   Dubblen, another popular Allen app, was created after she saw a photoshopped photograph of her friend. She was impressed and wanted to create an app that could replicate the effect on any photo, but with even better results. Working with developers and photo manipulation, she created a photo filter app. The process was originally set to take only three months but ended up taking six. However, the hard work paid off. The app was promoted through social media alone and ended up being a success.

“Once your passion grows, you get to the point that you want to build something that makes a real change.”   In 2013, Allen moved to Austin, Texas, to further her knowledge of application design. Though she moved away, she makes sure to return to Mississippi often and has tried to explore returning for good. She said she is proud of her home state and credits her success to the enormous amount of talent here.   “We have been taught that nothing good ever happens here [Mississippi], but there is so much potential and so many wonderful people,” Allen said. Allen plans to continue to expand her burgeoning tech business and encourages others to pursue their dreams without being held back by stereotypes.

ENTREPRENEURIAL DEVELOPMENT

WSN LIVE HELPS SCHOOLS BROADCAST, FUND ATHLETIC PROGRAMS hundreds of high school football games each year, began with the goal of giving Mississippi schools a fundraising platform for their sports programs. From the outset, WSN (Wi-Fi Sports Network) Live sought to build websites for schools that would allow school staff and boosters to sell their own advertisements to local businesses. However, the websites quickly turned into an opportunity to broadcast games. As demand for the WSN Live product began to evolve, Charlie Helms, CEO of WSN Live, leveraged his 20 years of experience in the television industry to spearhead this effort. The company now provides customer schools with a turnkey broadcast and streaming product that allows schools to quickly, and easily, install the equipment and set up the web infrastructure to stream their sporting events. The schools simply need electricity and internet access to begin streaming. “We feel like we’re the only company that is designed at the business-model level to allow the schools to generate their own revenue,” Helms said. “We’re proud that W SN LIVE, WHICH BROADCASTS

we are able to give Mississippi schools a way to raise money, while promoting their sports programs.” Sixteen high schools began using the services in 2011. Since then, WSN Live has grown to provide its services to 40 schools in five states with a season-to-season retention rate of 95 percent. Unlike competing streaming services, WSN Live requires its customer schools only to pay an upfront price and allows schools to keep 100 percent of the revenue generated by ad sales once broadcasting begins. The company recently launched high-definition streaming with advanced HD and even 4K capabilities, providing schools top-of-the-line broadcasting options. Additionally, WSN Live launched an application so viewers can stream a live event from their mobile devices. Games are still streamed on the WSN Live-built school websites as well. FOR MORE INFORMATION, VISIT

wifisports.net

ENTREPRENEURIAL DEVELOPMENT

QUANTUM FLOW’S MOMENTUM DRYER TO CHANGE HAIR CARE Quantum Flow, Inc. took home Innovate Mississippi’s New Venture Challenge grand prize of $3,000 for operating capital, the company is finalizing its first, fully engineered product – the Momentum Dryer. Martin McCurtis got the idea for his revolutionary hooded hair dryer more than 10 years ago, when his wife’s hair dryer filled their small Jackson apartment with heat and humidity on an already insufferable Mississippi summer day. After an hour of added heat and humidity, he asked if his wife was almost finished. “It should only be another hour,” was the response he most dreaded, but the one that sparked his greatest idea. A YEAR AFTER

McCurtis wants to change the way people use hooded hair dryers, a technology he says hasn’t substantially changed since its inception in 1890. His problem with the conventional hair dryer is its inefficient air and energy flow. “When hot air is forced down on moist hair, it creates vapor, humidity,” McCurtis explained of traditional dryers. “The more humidity that’s created, the more the heat energy is dissipated and weakened, and the longer it takes to dry the hair. That hot air and moisture stay in the hood because heat goes up, the way nature intended it to. Not to mention, hooded hair dryers are blowing hot air and vapor down over the face and neck.”

The Momentum Dryer is designed to create an efficient and fluid release of heat and energy by harnessing heat’s naturally rising quality. “We’re using upflow technology to create a more comfortable process,” McCurtis explained. “The hot air and vapor will be directed upward – away from the face of the user – which makes it faster because there is a fluid release of excess humidity.” He also believes the faster, less strenuous process will result in an overall health benefit to the skin and scalp compared to more traditional dryers. While he doesn’t have the scientific results to prove this claim, McCurtis is pursuing research to prove his theory. In addition to being “technologically superior,” McCurtis said his product will be much more stylish than anything currently on the market. While he plans to market the product to everyone, his primary market is African-American women because the coarse texture of their hair often requires longer drying times. “African-Americans make up 12 percent of the U.S. population, but they account for almost one-third of all hair and beauty purchases,” he said. “That’s a serious market footprint. When you look at the fact that only half of that small segment is made up of women, you have to really respect the amount of buying leverage that community represents.” A Mintel study reported the AfricanAmerican hair care market accounted for $2.7 billion in sales in 2015. McCurtis is confident that once he begins making the sales rounds with his first commercial units of the Momentum Dryer, it will only be a matter of time before the entire hair care industry feels the impact. FOR MORE INFORMATION, VISIT

quantumflowinc.com

GROWTH X GROWS STARTUPS AT HOME

ne Silicon Valley seed fund is reversing the brain drain experienced by states such as Mississippi by working with promising startups in unlikely ZIP codes, including two Mississippi tech startups, to grow successful businesses in the communities that need them the most. This unique fund, Growth X, operates according to two principles, the first being a focus on customers. “Products don’t create value, customers do,” said Andrew Goldner, Growth X cofounder. “Nothing happens until someone sells something. In Silicon Valley, everything revolves around coding but not sales, marketing and user experience. Our expertise helps product-focused founders go to market.” Secondly, the Growth X staff doesn’t believe founders need to leave their homes to launch a successful company. “We’re not trying to convince founders to move to Silicon Valley,” Goldner said. “We want them to stay close to their community and create jobs in the comparatively low-cost communities they call home.” When Mississippi tech startups begin to scale, it’s not uncommon to see the founders uproot and move closer to their industry peers, whether in Nashville, Austin or Silicon Valley. Growth X is hoping to keep a few new startups in Mississippi. Growth X cofounder, Will Bunker, attended high school in Greenville, graduated from Mississippi State University, and has been a speaker and frequent collaborator with Innovate Mississippi.

ANDREW GOLDNER

Growth X Cofounder

Growth X invested in WSN Live and Edge Theory, two fast-growing tech startups based in Jackson, Mississippi. “Edge Theory and WSN Live are examples of companies we would never have known about as a typical fund,” Goldner said. “We’ve made it clear we’re interested in founders wherever they are. We’re not just sitting in San Francisco and doing the usual. We’re in Jackson, Knoxville, Cleveland, Dallas and Ann Arbor. And we’re not just flying in looking for the best deals to steal, we want to be physically present.” For Growth X, being present means helping the companies they invest in grow to their full potential. The investment group’s founders all have experience in the founder/ startup space themselves. They believe their investments are most valuable when they can travel alongside a company as they go from the market acceleration phase to the series A funding round. Growth X startups go through a market acceleration program, which works on a reverse paywall. When a company is selected, instead of

paying tuition for the program, Growth X writes the company an investment check averaging $50,000. The company will then go through an intensive program, where they pore over data to identify the best customer profiles, optimize their value propositions, and develop, test and optimize sales and marketing campaigns. “If I write a $50,000 check to a startup with the standard 2-percent fee, I get $1,000 to care about a company,” Goldner said. “Market acceleration means we give our time and resources to make our portfolio members more valuable. We peddle in the only form of insider trading that’s allowed. We invest in successful companies, introduce them to more investors and help them grow.” At the end of the day, Goldner said, Growth X wants to partner with founders who are solving problems experienced by the majority of people – people in Jackson, Mississippi, and Cleveland, Ohio — instead of solving problems for inflated venture capital funds. FOR MORE INFORMATION, VISIT

growthx.com

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ENTREPRENEURIAL DEVELOPMENT

MODERN-DAY ALCHEMY Algix Turns Algea into Sustainable Manufacturing Gold

I N ONLY SIX YEARS, ALGIX HAS GROWN FROM A STARTUP WITH LITTLE MORE THAN AN IDEA AND A NAME TO A COMMERCIALLY VIABLE COMPANY THAT IS FOCUSED ON CHANGING THE MANUFACTURING INDUSTRY BY CUTTING ITS ENVIRONMENTAL FOOTPRINT. AND ALGIX PLANS TO DO IT WITH ALGAE.

“There are so many things that are made out of plastic that could be made out of something else.” Barbara Zeller | ALGIX MARKETING & COMMUNICATIONS MANAGER

“We take something that is a problem in the environment and make a use for it,” said Barbara Zeller, Algix marketing and communications manager. “Using algae, we make materials that are truly innovative and practical.” The main production and operation staff, and majority of Algix staff, are located in Meridian, Mississippi, and then there are a variety of ventures and sub-companies around the country and globe. Algix executives found the majority of agriculture moves between the Mississippi Delta and southwest Alabama. Since Meridian is right in the middle, located near railway and highway access points, not to mention access to the ports in the Gulf of Mexico, it made for a logistically sound headquarters. Additionally, fish farmers in the southeast have a big problem with algae. Algix provides a way to take algae, a burden on those farmers, and transform it into a sustainable and environmentally friendly manufacturing component. Algix has successfully used algae to create foam sheets included in yoga mats and luggage. These flexible foam sheets are lighter and stronger than the petroleum-based foams. In addition, they have created an algae-based filament used to produce 3-D materials, which works like plastic but is fully compostable. Hoping to bring a fresh option to the United States, Algix’s Jamaica team has been able to establish a thriving fish farm for tilapia and white fish. They plan to farm the algae from this location as well. FOR MORE INFORMATION, VISIT

Algix.com

Nurturing a community of entrepreneurship and innovative creativity in Mississippi

READY. SET. GROW.

MARCH 31 APRIL 2

ENTREPRENEURIAL DEVELOPMENT

DON’T MISS STARTUP WEEKEND JACKSON 2017

Startup Weekend Jackson 2016 participants developed and pitched business ideas to a panel of judges at Coalesce coworking space in downtown Jackson.

few times each year, entrepreneurship newbs and veterans come together for a weekend-long startup boot camp. Attendees break into teams and essentially form a real company in a hands-on, low-risk environment. Those with the embryonic makings of an idea come prepared to present their concept in a 60-second pitch. It’s OK for an idea to still be fairly raw; Startup Weekends provide fresh eyes and opinions about the product, especially if an entrepreneur has hit a sticking point in one particular aspect of development. About half of the attendees have technical backgrounds in coding, development and design, while the other half have business

backgrounds in marketing, finance and law. It takes a well-rounded team to bring a product to life, and that’s exactly what the Startup Weekend provides. Don’t have an idea? Bring your expertise in marketing, accounting and product development. Over the weekend, the teams execute customer feedback surveys, discuss marketability and produce an actual product. Teams stay together for two or three months after the event to continue sharpening the idea. At the very least, participants leave with much more savvy than they came with. The shortterm goal of Startup Weekends is to bring the product as close to reality as possible. The weekend culminates on

Sunday night, when teams demo their products to a panel of potential investors and local entrepreneurs. The panel awards a first, second and third place for the best products, while participants also vote to award products with such distinctions as “Most Likely to Raise Capital.” More importantly, Startup Weekends lay the groundwork for a community of innovation within the state. Startups and entrepreneurs are the lifeblood of the economy – especially innovation-based startups – because of the wide range of jobs they create. Ideally, entrepreneurs who become acquainted during Startup Weekends stay in touch beyond the event, and continue to bounce new ideas and concepts off one another. The more support entrepreneurs receive from the public and from the entrepreneurial community, the more dramatically they’ll be able to change Mississippi’s economic landscape for the better. Future Startup Weekends are currently scheduled for Oxford in February and Starkville in the spring. Since the weekends began in 2012, Hattiesburg, Biloxi, Jackson and Tupelo have all hosted an event. Around 50 entrepreneurs take part in a typical Startup Weekend. 23

was created in 2008, purposed toward providing funds for early-stage investments in tech-based companies. So far, Innovate Mississippi has awarded 29 checks to 23 companies, totaling about $2.2 million. In 2016, six awards were made. The money is authorized by the Mississippi State Legislature, and the program is managed by Innovate Mississippi to sow the seeds for a more modern, more vibrant Mississippi. The Mississippi Seed Fund is intended for those in the process of commercializing advanced technology. Applicants must be classified as a small business with the U.S. Small Business Administration, employing no more than 500 workers, to be considered for the award. They also must be located in the state to be eligible for the funds. Finally, their product must have potential for explosive growth. THE INNOVATE MISSISSIPPI SEED FUND

In 2016, Six Mississippi Companies Received Seed Funding

ENTREPRENEURIAL DEVELOPMENT

There are three levels of funding, based on the applicant’s need. “Each one has guidelines,” said Clay Lewis, investment manager for Innovate Mississippi. “Typically, a company goes through the development and counseling process here. Some in the idea stage are in the process for a long time, and others who are closer to market-ready take less time. After that process, we invite them to apply for one of these programs. We go through a due diligence process on those, and on the larger investments, we use a third party to help us with the assessment.” 1. PROOF OF CONCEPT

Very early stage, usually for pre-revenue applicants who are looking to validate a product for the market. Maximum one-time award of $10,000.

2. RESEARCH AND DEVELOPMENT

Still for companies that are in the early stages, but need university-related research to reach a point of marketability. Maximum award of $100,000 in any one year, with a $200,000 aggregate limit. 3. NEW TECHNOLOGY BUSINESS

These companies are in any development stage prior to full production – any stage from product and market validation to business plan implementation and early market sales. Maximum award of $100,000 in any one year, with a $200,000 aggregate limit.  Eventually, recipients must pay back their award. For Research and Development and New Technology Business recipients, the investment loan may be converted to stock, if the company does well and enters

the market to raise additional funds. Eligible companies must leverage $1 of other resources (of which a percentage must be cash) for every $1 of financial assistance requested from the Mississippi Seed Fund. Proof of Concept recipients must match a minimum of 25 percent cash and up to 75 percent in-kind. Research and Development recipients must match a minimum of 50 percent cash and up to 50 percent in-kind. New Technology Business recipients must match a minimum of 50 percent cash from private investors and up to 50 percent in-kind. FOR MORE INFORMATION, VISIT

innovate.ms

NEW TECH BUSINESS

PROOF OF CONCEPT

NEW TECH BUSINESS

CURTSY

GS RESEARCH

SATCHEL PODCAST FINDER

OXFORD

BAY ST. LOUIS

JACKSON

I n 2015, four developers released a fashion-rental app that allows college women to showcase designer dresses at formals and parties, without paying designer prices. The app quickly gained steam at the University of Mississippi, then branched out to a few other schools. With the Curtsy app, women register with their university email address, fill in their sizes and other details, then browse available dresses and other clothing items. They may then rent these items on a short-term basis. Members earn money for renting out their clothing items, and users avoid breaking the undergraduate budget. Before receiving the New Technology Business Seed Fund investment from Innovate Mississippi, Curtsy was up and running at six different schools. With their new capital, they are growing their reach throughout the Southeast. “Curtsy is very happy to accept the Mississippi Seed Fund investment from Innovate Mississippi,” said Curtsy cofounder William Ault. “The investment will allow us to expand to an additional 50 schools in the spring of 2017.”

GS Research is cutting energy costs with its product WonderWindow Disruptively Affordable Window Retrofits. The product is an acrylic glaze, which the user applies to single- or double-pane windows with an innovative attachment method that creates its own insulating dead air space and perimeter edge desiccant for condensation control. The product is extremely affordable, costing $3 per square foot for a personal DIY kit, and can cut energy expenses by half or more. More broadly, it enables the U.S. to exceed the intimidating standards of the energy-efficient SHIELD Program, and would potentially result in savings between $27 billion and $40 billion annually. That’s over 4 percent of the nation’s total energy costs. “We are very grateful for the Mississippi Seed Fund support that is proving our WonderWindow technology through independent third-party testing,” said Mark Isaacs, CEO of GS Research. “This funding is also supporting continuing innovation in product and market development – both for our WonderWindow retrofits and intellectual property for new construction windows and skylights.”

Entrepreneur Beau York is giving podcast listeners one simple thing: a way to tailor their own podcast preferences themselves. With his podcast player, Satchel, users have input into what kinds of podcasts are recommended to them by the app. With his first company, Podastery, York found that one of the biggest obstacles in the podcast industry is the element of discoverability. Part of the way Satchel helps users wade through the sometimes overwhelming ocean of podcasts on the web is its ability to discover programs right in the customer’s backyard. Users and podcasters can easily find content focused on or created in their community. “We are thankful for the support of Innovate Mississippi in helping Satchel progress podcasting as an industry by bringing local podcasts to the forefront worldwide,” said York, CEO of Satchel.

PROOF OF CONCEPT

NEW TECH BUSINESS

WSN LIVE

OXFORD

FLOWOOD

RIDGELAND

Entrepreneur Alex Movitz is helping people save energy and money by replacing their incandescent bulbs with LED lights. His mobile app, SwitchLight, takes the guesswork out of the transition process. Through the SwitchLight app, customers can easily convert their homes and businesses to LED lighting – reducing their environmental impact, while saving money and ensuring convenience. The app takes customers through each room, one fixture at a time, while they answer questions about their lighting. Then, current bulb information is converted to the appropriate LED replacement specs, and an estimate is calculated on how much this transition will save in energy costs. Customers can also conveniently purchase their lighting solutions from the app and have high-quality, economical LED bulbs delivered directly to their home or business. The SwitchLight app completed a closed beta test that provided valuable feedback and led to new features and developments, such as SwitchLight Enterprise, an app for larger companies. An open beta test is next. The Seed Fund Proof of Concept award will assist Movitz and SwitchLight to complete the open beta test and move toward full market launch.

What started as a fundraising tool for schools to sell website advertisements to local businesses has now evolved into a full-blown streaming network. WSN Live provides customer schools with a turnkey broadcast and streaming product that allows them to stream their sporting events online with speed and ease. All a school needs is electricity and internet access. A mere 16 high schools used the service in 2011. Now WSN Live provides its services to 40 schools in five states and retains customers from season to season at a rate of 95 percent. What makes it different from other streaming services is that WSN Live allows its customer schools to pay for the season up front. Schools keep every cent of revenue from ad sales once broadcasting begins. Now, WSN Live has added high-definition and mobile viewing capabilities as well. “We feel like we’re the only company that is designed at the business-model level to allow schools to generate their own revenue,” WSN Live CEO Charlie Helms said. “We’re proud that we are able to give Mississippi schools a way to raise money, while promoting their sports programs.”

ENTREPRENEURIAL DEVELOPMENT

SWITCHLIGHT

SALUS GENETICS

Salus Genetics is a startup offering a variety of genetic testing products and services. Its innovative brand of genetic testing offers tons of applications. The GeneMedication PGX test is marketed to self-insured employees through brokers and TPA groups, and seeks to avoid adverse drug reactions for individuals, while saving costs for the employer. The GeneFitness test is marketed to individuals through health and fitness clubs. Its focus is to formulate diet and exercise plans for individuals and counselors. Whatever the case may be, Salus Genetics allows healthcare measures to be tailored to each individual, identifying and taking into account each person’s unique genetic predispositions. “Receiving the award from the Mississippi Seed Fund was truly a privilege and an honor for me and my company,” said Clint Clardy, CEO of Salus Genetics. “The team at Innovate Mississippi was great to work with throughout the process and served as a tremendous guide. This program is absolutely unique and vital to the development of startup companies here in the state of Mississippi.”

a brand. It’s enabling the followers to amplify that content, and everything is done in a way that’s brand compliant. Joe and Edge Theory have an incredible innovative system to be able to help brands harness the power of their following in a way that the C-suite is happy with and signs off on.” While Match.com can communicate on Twitter under its corporate handle, @match, the audience is too broad to have a real conversation. That’s where Edge Theory comes in and creates personas like @divorceddating and @beingalonesucks. “We create new personas that go deeper than a corporate persona,” Stradinger said. “We can be casual and a little more off brand. If you’re an American healthcare company that wants to own the healthcare conversation in San Antonio, you’d better do it in Spanish. ” The Edge Theory team has researched, created and aggregated an almost endless amount of content along the lines of its clients’ industries. When Mayo Clinic called on Edge Theory, the company mapped out extensive conversation trees with content and links to equip the company with relevant conversation starters and talking points. Edge Theory’s Soundboards allow companies to leverage the social media streams of their biggest fans and employees. Instead of Mississippi State University fans, alumni and students all sending out disparate messages, they can choose to sign up for a Soundboard at weringtrue. com and allow Mississippi State to send a number of pre-approved tweets through their personal social media feeds. “It’s like putting a sticker on your car,” Stradinger explained. “Many people use social media but don’t know what to say. They love Mississippi State; give them a unified and amplified message.”

Stradinger signed up for the Mississippi Museum of Art’s Soundboard on his own personal Twitter account, which allows the museum to share its message with his followers, 140 characters at a time. “When you go to my Twitter, you’ll see some beautiful tweets go through gorgeous artwork – really cool modern pieces. I did not do that. I signed up for a Soundboard and let the museum air its message through my Twitter handle,” he said. Edge Theory’s final product, VIP, puts the content in the hands of the company’s end user. A URL advertised through a QR code or something like it directs customers to a page that will give them a few options for what to say. When they share the message through their social media, they get 10 percent off at the point of sale or provide their email address to get a voucher for next time. “That’s not an advertisement, that’s a recommendation,” Stradinger said. “Let’s say you get one person at Bonefish Grill to do that each day, times 30 days, and every one of those shares will average being read 120 times by real people. That’s 3,600 recommendations you’re creating in a month. If 5 percent of those recommendations come back, you get 180 new customers.” Eventually, Stradinger believes, the consumer will find Soundboards as valuable as the companies paying for them. “You might go to a Soundboard to curate your own feed and say, I want a little Jesus content, a little fly-fishing content, a little of this and that, and that’s my personal brand.”

ENTREPRENEURIAL DEVELOPMENT

hen nationally recognized brands, like Neiman Marcus, Match.com and Mayo Clinic, need help curating the conversations happening around their brands, they turn to Joe Stradinger’s Mississippi-based tech startup, Edge Theory. Edge Theory is a content-generation company, but it offers companies much more than words. “We create content in three ways,” Stradinger said. “We create personas to talk about your brand. We have a product called Soundboard where we help create content for your advocates, and the third way, VIP, is content created for your customer.” Joe began the company because he had a sneaking suspicion customers wanted to talk about the companies they love – share their stories – but didn’t know what to say. “Hallmark is a billion-dollar company because it helps us know what to say,” he said. “My momma knows me. My momma loves me. We talk every morning over a little Bible study on the phone. She still buys me a card with someone else’s words in it for Father’s Day. If my momma, who knows me, needs help, your customers need help, too. Your advocates need help, too.” Edge Theory has been in operation for less than four years, and already it has garnered the attention of prominent brands across the country. It’s also caught the eye of Growth X, the Silicon Valley seed fund that helps companies grow without uprooting from their home communities. “Edge Theory is the only startup I know that has figured out how to do social content at scale in a brand-compliant way,” said Growth X cofounder Andrew Goldner. “There is a lot of opportunity to amplify your social message as

FOR MORE INFORMATION, VISIT

edgetheory.com

We don’t just practice in this community WE’RE CONNECTED TO IT

The Intellectual Property Practice group at Jones Walker LLP comprises one of the most complete and diverse intellectual property teams in the region. Eleven of our attorneys are registered to practice before the United States Patent and Trademark Office. Our clients include U.S. and overseas companies of every size, from start-ups to the Fortune 500; entrepreneurs; leading academic and research institutions; and individual inventors. We help our clients with a myriad of intellectual property issues, from establishing and protecting their brands to all phases of cutting-edge and established technology representation. Perhaps that’s why The BTI Consulting Group, which conducts hundreds of in-house counsel interviews to identify top client service firms in the nation, named Jones Walker to its 2016 Client Services A-Team. W. Whitaker Rayner 190 E Capitol St | Suite 800 601.949.4724 Jackson, MS 39201 wrayner@joneswalker.com www.joneswalker.com

Brydge’s mobile app helps connect parents to their child’s classroom through daily updates and exercises.

rydge4Schools, an education technology startup, plans to close the gap between teachers and parents by providing parents the tools to create meaningful educational conversations with their children.  Former Teach for America teacher Mehreen Butt began formulating the idea for the educational application while stationed in rural Mississippi schools. “I have experienced many parents who want to help their kids but don’t always know how or have the resources,” Butt said. “With Brydge, our hope is to give them access to more daily academic materials as well as social and behavioral reports.” Butt, along with fellow Teach for America alumni Richard Petty and David Wilson, noticed their concerns in the classroom were similar – a real disconnect existed between what happens at school and what happens at home. Then they discovered their experiences are backed up by research. A study from the Michigan Department of Education shows parental engagement is twice as predictive of a student’s academic success as socioeconomic status. These experiences were the catalyst behind creating a service that gives both teachers and parents an opportunity to stay engaged, while further helping the children. The platform for

ENTREPRENEURIAL DEVELOPMENT

BRYDGE4SCHOOLS ENCOURAGES PARENTAL ENGAGEMENT

Brydge4Schools was formally built out at Innovate Mississippi’s Startup Weekend Jackson event in spring 2016. By the end of the event, the company was formalized and launched as a functioning business. Brydge4Schools operates in both a web platform and a mobile application. Teachers access the web platform to post questions and topics of discussion they have used in the classroom that day. Parents then access the content through the app and are provided up to three daily questions or examples from the day’s teaching to go over with their children. By equipping parents with knowledge of in-classroom activities, Brydge4Schools hopes to aid parents in further facilitating learning in the home. Although still a relatively new company, by July of 2016, Brydge4Schools was accepted into and attended two prestigious national accelerator programs focused on education. The 4.0 Schools Essentials program in New Orleans, Louisiana, is a three-day-long curriculum providing entrepreneurs valuable opportunities such as piloting and testing ideas with teachers and parents, individual coaching, peer-to-peer support and professional feedback. The Lean Lab fellowship program in Kansas City, Missouri, is a nearly five-weeklong program that also delivers a valuable set of learning resources as well as an initial $10,000 in seed funding. Currently, Brydge4Schools is successfully working with numerous schools from Kansas City to Washington, D.C. The app is also being tested for the pre-K market in Alabama through a partnership with Tuscaloosa City Schools. As the company begins its first full year of operations in 2017, it expects to have its app fully implemented in five schools in Mississippi in addition to the early adopting schools. FOR MORE INFORMATION, VISIT

brydge4schools.com

INNOVATION ECOSYSTEM

AN INTERVIEW WITH OXFORD’S BILL

RAYBURN, WHO REVOLUTIONIZED THE MORTGAGE INDUSTRY & HELPED MAKE 45 MISSISSIPPIANS MILLIONAIRES

hen Oxford-based FNC, Inc. received a $475 million sale offer from CoreLogic in 2015, Bill Rayburn wasn’t ready to hang it up. His partners were ready to retire or move onto the next stages of their careers, and his investors were ready to cash in – but Rayburn still had fire in his belly.

INNOVATION ECOSYSTEM

“I still love going to work,” Rayburn said. “I like creating jobs. I like sitting in that boardroom and convincing bankers to adopt this software – it’s a head rush. I’m helping their business, and they’re using my product.” Saying he loves to work is more than lip service. When Rayburn speaks about his next venture, he gets a sparkle in his eyes, and carries on with as much excitement and vigor as ever. That sparkle in his eyes and the fire in his belly became mTrade, another mortgage- focused financial software company that provides mortgage traders with data, performance metrics, and analytics on the mortgages they buy and sell.

KNOWING WHEN TO SELL FNC attracted sale offers as far back as 2007, but it wasn’t until the $475 million offer from CoreLogic, a financial services company based in Irvine, California, came through that they decided to play ball. “Every quarter we would look at what the company was really worth, and when someone pays in excess of that, you have to entertain it,” Rayburn said. “We had an attractive offer in 2007, but we chose not to take it. It wasn’t this big, but it was a lot.” This time around, Rayburn and his partners were older, deeper into their professional careers and considering what was next. One of the cofounders was back in the world of academia, while two others were looking toward retirement. The offer came at a great time for the investors, and for the University of Mississippi, where the professors-turned-entrepreneurs bootstrapped the company in its early years. Rayburn said he was also keen to pay back the local community of investors who made the company such a success. While Mississippi may not be known for its technology investment sector, Rayburn said their loyal and local investor base was key. “A lot of investors were physicians or people who made their money in oil and 34

gas, but who wanted to participate in tech growth,” Rayburn said. “This was a way in for them.” With the sale, the mortgage appraisal software has gone from an idea exchanged between classes at the University of Mississippi to a viable product that was invested in, market tested and eventually sold – completing the tech-startup cycle. But, unlike many technology companies, FNC maintained a track record of profitable operations throughout the process.

“I still love going to work. I like creating jobs. I like sitting in that boardroom and convincing bankers to adopt this software – it’s a head rush. I’m helping their business, and they’re using my product.” -Bill Rayburn mTrade CEO

MAKING THE MARKET TRANSPARENT mTrade’s primary product, Clean Room, was the result of customer feedback Rayburn received while at FNC. “Our collateral management system was the cash cow, so it got most of our resources, but it was just a piece of the product,” Rayburn said. “A customer asked if we could image and index an entire mortgage instead of just the pieces the bank wanted. They told me they would reorganize their entire trading structure if we could do it for them.” Rayburn was happy to oblige the customer, and their conversation led to product development and, eventually, the establishment of an entirely new company. With a product like Clean Room, banks and mortgage traders can have more up-front information about their purchases, which would ultimately help the market avoid downfalls like it saw in 2008. “Anytime there is disruption in a market, that’s good,” Rayburn said of the changes the mortgage industry has seen over the last decade. “Disruption makes people look around to figure out how to survive the next one.” When a bank buys a loan from another bank, they get between 2 and 3 percent of the loan’s face value. With mTrade, those banks can pay a flat fee through mTrade to reveal in-depth information about the loan, reducing their risk while maintaining reasonable profit margins. “We want to make markets more transparent,” Rayburn said. “It’s important to me

that we have a strong banking system, and if I can help a bank be more liquid, that bank is stronger.” Since CoreLogic’s purchase of FNC didn’t include the Clean Room product in the transaction, Rayburn was able to spin the product into mTrade and launch the new company with a captive customer audience in place.

NOT HIS FIRST RODEO Rayburn’s new company will come with its own set of challenges, but he is only a year removed from lining the pockets of his last batch of investors. Rayburn received $50 million in investment from Mississippians in his first company, FNC, and turned 45 of those investors into overnight millionaires. Launching mTrade on the heels of FNC’s overwhelming success, Rayburn’s insight into software startups was more advanced than the last time around. The most important insight, though, is the knowledge that his software creates no value on its own. “Forget what everyone tells you about product development and product design,” Rayburn said. “Customers will tell you what they’re willing to pay for. It doesn’t matter how good

your product is, if they won’t pay for it, you’re burning money. Customers create the value, not the products.” After all, mTrade’s flagship software, Clean Room, was the answer to a customer’s specific need. When you’re meeting an actual need, Rayburn said you can throw profit-margin pricing out the window. “Customers tell you what they’ll pay for something they need,” he said. “That’s why I believe in value-added pricing. Not, ‘What does it cost?’ but, ‘What is it worth?’”

STAYING HOME When he launched mTrade, Rayburn decided to keep the company in Oxford, the same place he helped launch and grow FNC, because of his ties and because of its competitive advantages. “How many software companies are in North Mississippi? Just a handful,” he said. “You hire some excellent people from the area, and they’re probably going to stay with you. Sure, you have to pay them competitively. FedEx is probably the biggest hiring competitor. They’re a giant software company, just one that flies planes.” Aside from providing a loyal and competitive workforce, Rayburn said Oxford is an ideal place to host inves-

tors and customers. They are surprised and delighted when the Mississippi stereotypes fall away. Oxford’s biggest advantage, though, is its distance from all the hype. “Oxford is a really nice place to live, and the town has embraced us. I think that’s important,” Rayburn said. “We still have to perform to a national standard, but it’s the same reason Warren Buffett is in Omaha – it’s away from the glitz and hubbub.” Finally, Rayburn said Mississippi is where his investors are from, and it’s those investors who have empowered him to get this far. He wants to be close to them. He is candid when he says, “Our investors are our friends.”

WHAT’S NEXT Rayburn regularly used the word “moon shot” to describe his ambitions for FNC, and that term was legitimized with last year’s $475 million payday. He isn’t shying away from using the same term to describe mTrade. “We’re in the mortgage market because it’s a big market,” he said. “I’m a big believer in getting a big market, because you’ve got to be in a big market to do a moon shot.” FOR MORE INFORMATION, VISIT

mtrade.com

team of students from Jackson’s Provine High School won the 2016 TechJXN Hackathon Problem Identification Challenge with an app they designed to help students suffering from depression, bullying and sexual assault. Each team entered the competition with a problem to solve and finished by producing a functioning mobile application. Students worked alongside professional programmers at the JSU E-Center using Code.org’s App Lab.

Last year, the Hackathon challenged students to develop apps to solve a series of problems outlined in a predetermined prompt. This year, students were tasked first with identifying a problem in their own communities and then working toward creating an innovative solution to that problem using technology.  “Hackathons are synonymous with coding; but at their core, they are problem-solving – and coding is often just the tool,” said Innovate Mississippi

INNOVATION ECOSYSTEM

Hackathon Teaches Students to ProblemSolve

“Hackathons are synonymous with coding; but at their core, they are problem-solving – and coding is often just the tool.” Tony Jeff | INNOVATE MISSISSIPPI PRESIDENT AND CEO

president and CEO Tony Jeff. “By focusing on problems that are specifically identified from their experiences, it makes the creation much more personal and much easier to directly implement.” This year’s winning app, DeepTalk, was designed specifically to give fellow students a way to connect with mental health and social work professionals. The goal is to combat the very real problems of bullying, depression and sexual assault that some students often cope with in their schools. Innovate Mississippi helped host and plan the Hackathon, which was held in July in conjunction with the annual TechJXN Innovation Summit. The aim of the Summit is to engage educators and students in discussions about technology, with past topics such as technology policy, minorities in engineering, rising drone popularity and technological entrepreneurship.  FOR MORE INFORMATION, VISIT

techjxn.com

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INNOVATION ECOSYSTEM

SIMPLIFYING THE ANGEL INVESTING PROCESS

nnovate Mississippi is working to make investing in innovation- and technology-based startups easier and more profitable for members of the Mississippi Angel Investor Network. New angel investor funds, organized through Innovate Mississippi, are now allowing accredited investors to pool their resources into a dedicated investment fund. “I think the fund will help less seasoned and more cautious investors join in with more experienced investors in an easier way,” said Tony Jeff, president and CEO of Innovate Mississippi. “In Mississippi, less of our wealth is traditionally made through angel investing – rather, it’s through things like timber or family land – so this approach makes it much simpler for new people to get involved.” At the same time, having committed capital simplifies the process for entrepreneurs because they will only need to deal with the funds’ leaders instead of meeting individually with five or six investors – and the amount of paperwork will be significantly reduced. These funds will allow entrepreneurs to pitch to a large group that can then vote on investment. “In the investment meetings, we will often see three or four investors interested in a company, but many times no one wants to take the lead and negotiate terms,” Jeff said. “And they shouldn’t – there is no advantage to taking the lead if

the deal doesn’t get made. With committed funds, there is existing paperwork and a predefined structure for investing.” Innovate Mississippi has considered organizing angel funds for some time, and with the help of the Appalachian Regional Commission, Rain Source Capital and investor groups in Arkansas, the funds are in the works and investment activity for the first two funds is expected to begin by the start of 2017’s second quarter. As it stands, angel investing funds are officially forming in Jackson and Tupelo, with additional groups throughout the state expressing interest. Each fund will be between $500,000 and $1.5 million, and make investments over roughly a three-year period. The new model is expected to bring more investment to Mississippi startups. Under the previous single-investor model, the Mississippi Angel Investor Network averaged between six and eight investments each year. “The new fund model allows for automatic diversification, and that allows for investors to be more successful,” Jeff said. “They’re not just trying to pick one winner. This allows them an easy way to pick two a year for a few years.” FOR MORE INFORMATION, VISIT

innovate.ms

INNOVATION ECOSYSTEM

INNOVATION MONTH G OVERNOR PHIL BRYANT proclaims November to be â&#x20AC;&#x153;Innovation Monthâ&#x20AC;? each year in Mississippi. The proclamation promotes a collective synergy around the diverse innovation offerings taking place throughout the state. In Mississippi, innovation spans across many areas, including entrepreneurship, healthcare, research, energy, manufacturing, space exploration, arts and entertainment, tourism, education, information technology and agriculture. New innovations are key drivers of business growth and economic development. Innovate Mississippi helped launch the first Innovation Month in 2013, and continues to promote its message alongside partner organizations such as the Mississippi Development Authority and Maris, West & Baker Advertising.

I NNOVATE MISSISSIPPI

FOR MORE INFORMATION, VISIT

msinnovationeconomy.com

MIST CLUSTER partners with the Marine Industrial Science & Technology (MIST) Cluster at the Stennis Space Center to identify, recruit, and equip applied technologies companies working in and around marine and coastal environments. The MIST Cluster is a resourceful group of private, public, federal, state and local agencies, universities and nonprofits collaborating to support marine-related industries in the region. These businesses impact shipbuilding, commercial and recreational fishing, offshore oil and gas, and environmental restoration. Innovate Mississippi also serves as a business development coach for participating companies and works to connect them with additional resources to help them excel. mistcluster.org

Providing an environment to

THINK. CREATE. GROW. SUCCEED.

Coalesce is a coworking space located in the central business district of Jackson, Mississippi, with a focus on design aesthetics, a sense of place, and an open work area for remote workers, freelancers, entrepreneurs, non-profit organizations, social innovators, project teams, and other small businesses.

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www.coalescejxn.com coalescejxn@gmail.com 109 North State St. â&#x20AC;˘ Jackson, MS 39201

INNOVATION ECOSYSTEM

WORKING TOGETHER Coworking spaces rise in popularity in Mississippi

A group of entrepreneurs meet around the conference table at Coalesce, which faces the Old State Capitol Building.

s Mississippi’s startups are trending toward low-overhead digital companies, coworking spaces are popping up in centers of innovation all over the state. Unlike the standard incubator model, where businesses take over spaces in an existing office format – each space separate and tailored toward individual businesses – the coworking model thrives on intermingling and collaboration. “In the older model, people from different companies might see each other at the water cooler but aren’t sitting near each other, and definitely are not sharing a table or workspace,” said Tony Jeff, Innovate Mississippi president and CEO. “These new coworking spaces are the new incubator and are more collaborative. They have a coffee shop environment.” Innovate Mississippi staff work with more than 100 young and burgeoning companies annually throughout the state. Of those, very few need dedicated buildings and equipment. That’s why they are seeing more and more of the startups they

work with moving into coworking spaces in places such as Biloxi, Jackson and Oxford. One of the most striking differentiations between the incubators of yesterday and coworking spaces of tomorrow is the source of investment. Almost every business incubator in Mississippi is operated by a public institution, whereas each of the new coworking spaces is privately run and funded. “These incubators have spent a lot of money building out offices, but coworking spaces can build and adapt as they go,” Jeff said. “They just need tables, desks, paint on the walls, internet and printers. This community-based, privately driven effort is a phenomenon, and it

meets the needs of the many digital-based, low-asset startups we see popping up.” Many of Mississippi’s new coworking spaces follow a model popularized by companies like WeWork, which focuses on making work a vibrant part of life and not just a paycheck, through workspace design, office events and recreational areas. For example, Mantle in Jackson features a beer tap and a ping-pong table alongside its workspaces and conference rooms. “It’s not just a rise in coworking spaces – it’s the private sector bootstrapping entrepreneurship in a way that helps our community and drives innovation,” Jeff said.

INNOVATION ECOSYSTEM

COALESCE GIVES ENTREPRENEURS FLEXIBILITY IN DOWNTOWN JACKSON Jackson attorney Matthew McLaughlin spent much of his career working for large firms with offices in larger cities throughout the southeast. Any time he left Mississippi for meetings, he found himself catching up on emails or printing documents at one of the city’s downtown coworking spaces. “I had experience using coworking spaces on the consumer side and thought it would be good for Jackson,” McLaughlin said. “I thought Jackson was ready for something like this and felt strongly that it needed to be downtown. If you look at where hubs of entrepreneurship grow, they’re all downtown. That’s one of the reasons we decided to locate here.” McLaughlin’s desire to see coworking spaces make their way to Jackson resulted in him opening Coalesce, a large, open coworking space located across the street from the Old State Capitol Building on State Street. At any time, day or night, entrepreneurs and established professionals can be found at Coalesce working side by side within a variety of industries, from web developers and freelance writers to contractors and startups. The space features private desks in an open workspace area, a cafe area with bar seating, private meeting space, a conference room and

an informal collaborative space. Memberships can be purchased for access to the cafe seating area or for a designated work area. “It’s been interesting to observe what’s been going on here since we opened,” McLaughlin said. “It is a startup-oriented space, but we also see a lot of people working on side projects with hopes an idea will take off and employ them full time.” An open, stadium-style seating conference room in the back of the space is used for collaborative work during the day, but serves as a space for startup and small business programming in the evenings. McLaughlin plans to bring in professionals who can help startups resolve legal, financial and other pertinent questions. While many coworking spaces also offer incubation plans for promising tenants, McLaughlin said they stay away from formal incubation, choosing instead to let those relationships grow organically.

“Coworking spaces can build and adapt as they go; they just need tables, desks, paint on the walls, internet and printers. This communitybased, privately driven effort is a phenomenon, and it meets the needs of the many digitalbased, low-asset startups we see popping up.” -Tony Jeff Innovate Mississippi President and CEO

FOR MORE INFORMATION, VISIT

coalescejxn.com

Coalesce offers entrepreneurial-focused programming, including coding courses and young professional groups, for its members.

INNOVATION ECOSYSTEM

Coworkers at Mantle have access to a large, open living room and kitchen space, where they collaborate, play ping-pong or simply relax.

JACKSON STARTUPS AND SMALL BUSINESSES GROW AT MANTLE Duling Hall has become the hub of a cultural renaissance in Jackson’s Fondren neighborhood, playing host to musicians from all over the world and featuring some of Jackson’s most popular food. But no more than 20 feet above all the action, some of Jackson’s brightest minds are working on their next big idea. Mantle, located on the second floor of Duling Hall and in the heart of Jackson’s art and entrepreneurial district, is one of the many coworking spaces popping up around the state. Coworking spaces grew out of a need of small businesses, entrepreneurs and startups to have desirable yet affordable space. Mantle founder Christopher

Lomax was attracted, however, to the collaborative spirit he sees in coworking environments. “The biggest value is networking – going into the living room and having coffee or a beer and talking to other people,” Lomax said. “Problem-solving happens here. I have a tenant who has gained five or six new clients since working out of here.” Mantle, named after the part of an oyster where pearls are created, offers its tenants closed offices, dedicated work spaces with lockboxes, and the ability to simply show up and work wherever. The two conference rooms are equipped for video conferencing, and the living room is always open, with free beer and grind-bythe-cup coffee. Lomax rents space to advertisers, marketers, nonprofits and financial service providers as well as more traditional businesses.

He also sees people work remotely out of Mantle while their spouses finish medical school or residency programs at the University of Mississippi Medical Center. “I’m seeing more larger companies saying, ‘I don’t care where your office is,’ so people are moving with their spouses and keeping their jobs but want a place to get out of their apartment,” Lomax said. “There is this idea that people are freer to do their own thing, and all they need is the internet, coffee and a place wide enough for their butt.” Mantle has designed a coworking space with an environment and vibe that encourages business growth and networking. FOR MORE INFORMATION, VISIT

growatmantle.com

EVENTS

THE MISSISSIPPI INNOVATORS HALL OF FAME AWARDS GALA SEPTEMBER 15, 2016 CELEBRATING THE ACHIEVEMENTS OF INDIVIDUALS AND COMPANIES WHO REPRESENT EXCELLENCE IN INNOVATION AND ENTREPRENEURSHIP IN MISSISSIPPI

Innovate Mississippi, alongside Mortgage Trade and Children’s of Mississippi, hosted an evening dedicated to honoring those who have helped broaden the scope, landscape and success of Mississippi’s innovation-based ecosystem – and who have blazed a trail of achievement for others to follow in their footsteps.

Linda and Billy Howard HOWARD INDUSTRIES | LAUREL

Together, Linda and Billy Howard have revolutionized an entire industry. Their company, Howard Industries, is ranked as the No. 1 transformer production company in the country – with its products found in all 50 states and in 114 foreign countries. Linda, the company’s president, and Billy, its CEO, have built and continued to expand their billion-dollar business from the ground up to now include more than 300,000 products and 3,500 employees. The couple values the power of an education, and that is evidenced by their educational and philanthropic commitments to their employees and throughout their community. Thalia Mara (POSTHUMOUSLY) USA INTERNATIONAL BALLET COMPETITION | JACKSON

Thalia Malia was a dancer, teacher, author and visionary who devoted her life to nurturing the arts. She was age 65 when she left New York in 1975 to develop Mississippi’s first professional ballet company. Jackson became her home and the base of operations for her creative spirit, fertile mind and unbounded work ethic until her death at age 92. Her legacy, the USA International Ballet Competition, is one of the most respected ballet competitions in the world, and is also a significant contributor to the state’s cultural and financial economy. Dr. S.L. Sethi JACKIE’S INTERNATIONAL | CANTON

The Legend Award is presented to an individual who has exemplified a meaningful leadership role as an innovator for Mississippi. Previous recipients include Jim Barksdale, Dr. Robert Khayat, Ambassador John Palmer and Bill Yates.

In 1968, when Dr. S.L. Sethi, a native of India, settled in Mississippi, he had just $50 in his pocket and a Mississippi Valley State University professor’s position. In 1973, he opened his first drive-in restaurant in Brookhaven. This was the launch of Jackie’s International, the business he has since grown into a multimillion-dollar company. Today, it consists of 1,500 employees and more than 70 businesses, from restaurants to a construction company and numerous hotel properties. Known for saying, “When I came to Mississippi, I came to heaven on earth,” Dr. Sethi’s original business risk has since translated into a more prosperous Mississippi.

Joe F. Sanderson Jr.

INNOVATORS TO WATCH

MISSISSIPPI INNOVATORS HALL OF FAME

SANDERSON FARMS | LAUREL

HALL OF FAME INDUCTEES

Sanderson Farms is not only the third-largest poultry producer in the United States, it was also named by Forbes magazine as one of America’s 100 most trustworthy companies. This is due, in large part, to the leadership and corporate culture set forth by its CEO, Joe Sanderson Jr. The company, which was started by his father, has successfully grown over many decades to now exceed $2.5 billion in annual revenues while employing more than 12,000 individuals, and contributing extensively to the community and charitable organizations – all creating an incredible, positive impact on Mississippi.

Fuse.Cloud JACKSON

Fuse.Cloud is a leading provider of cloud-based business solutions that offers a comprehensive suite of combined services, including hosted voice over IP (VoIP), high-bandwidth fiber internet and managed IT. Gary Watts, the company’s founder and CEO, launched this innovative technology startup in 2006. Since then, it has expanded its reach not only across Mississippi, but is now recognized as one of the fastest-growing VoIP technology companies in the southeast.

EVENTS

Michelle Alexander, Robert Alexander

Joe F. Sanderson Jr. & family

Jan Farrington, event chair

Maj. General Augustus L. Collins, Cathy Northington

Raksha Sethi, Dr. S.L. Sethi, Tony Jeff

Billy Howard, Linda Howard

Jon Maynard, Allen Kurr, Bryan Buckley, Sandra Buckley

Next Gear Solutions staff & family

Peyton Prospere, Leanne Mahoney, Randall Wall

Jeff Good

TelehealthONE

JACKSON

CANTON

Jeff Good is as an esteemed restaurateur, having founded Bravo! Italian Restaurant and Bar, Broad Street Baking Company, Sal & Mookie’s New York Pizza and Ice Cream Joint, and Mangia Bene Catering. In addition, his entrepreneurial drive and vision for a more sustainable Mississippi have now extended into yet another pioneering venture – Soul City Hospitality. Here, he spearheads the Up in Farms Food Hub program, which is a farm-to-table initiative connecting Mississippi’s farmers and their produce with local restaurants, schools, grocery stores and commercial distributors. His efforts are strengthening Mississippi’s workforce, wealth and health.

TelehealthONE is the first and only private telehealth company in Mississippi, and was created to provide 24-hour access to medical care for patients in rural and remote areas through video-based consultations – a much-needed service for a state with more than 50 percent of residents residing in those areas. As the vision of David Powe, Ph.D., TelehealthONE services long-term care institutions, provides walk-in clinics at pharmacy locations across the state and has recently established a partnership with Mississippi-based fred’s Pharmacy to add a private kiosk in each of its locations.

Next Gear Solutions

Hawkeye Industries is recognized as one of the most technologically advanced contract sheet metal fabrication companies in the South. Its team of experts masterfully transforms complex manufacturing designs and ideas into simple, practical approaches. By utilizing state-of-the-art machinery, innovative technologies and lean production methods, the company’s pioneering approach has proven its worth to many manufacturing clients – including Mississippi small businesses and startups – while keeping production at home in Mississippi. Founded and led by Bryan Hawkins, who is respected nationally as an industry expert, Hawkeye Industries operates as a veteran-owned, family-run business.

OXFORD

Next Gear Solutions is the company behind the restoration contracting industry’s leading claims management software platform known as DASH. Founded and led by Garret Gray, renowned as an industry leader in technology development, process improvement, marketing campaign development and quality improvement, the company has taken on a significant amount of the large franchisors in the industry, and has recently acquired its largest competitor. Next Gear Solutions’ reach extends outside of Mississippi and the United States into Australia, Canada, Germany and the United Kingdom.

Hawkeye Industries TUPELO

New Look. Same Promise. Our look may be new, but we are still guided above all else by our principles, which are underscored in everything we do for our clients, our colleagues, and our communities.

Bradley’s team of attorneys knows that legal matters are more than contests of critical thought; they have real-world implications, which is why we prioritize integrity. It is this integrity that inspires all of us at Bradley to go above and beyond our clients’ expectations by providing innovative solutions, dependable responsiveness and a deep commitment to success. With extensive industry experience that spans the spectrum of business, our attorneys understand that emerging growth companies deal with unique circumstances, accelerated timeframes and continual technological change. Bradley offers the practical guidance and legal counsel that all types of high-growth companies need to succeed. Contact us today, and we’ll make your success our priority.

For more information, please visit the Emerging Growth Companies Team at www.bradley.com or contact Wendy Mullins, 601.592.9937, wmullins@bradley.com No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. ATTORNEY ADVERTISING. Contact: Margaret Oertling Cupples, Esq., 601.592.9914, mcupples@bradley.com, Bradley Arant Boult Cummings LLP, 188 E. Capitol Street, Suite 400, Jackson, MS 39201.

EVENTS

Hagen Walker & Kaylie Mitchell of Team Glo accept their award.

Pontus Anderson of On The Wall accepts award from Tasha Bibb of Innovate Mississippi.

Entrepreneur David Wilson explains Brydge4Schools technology.

Tasha Bibb thanks New Venture Challenge contestants.

MISSISSIPPI NEW VENTURE CHALLENGE

Student Competition GLO $3,000 prize presented by UPS Connect ON THE WALL $2,000 prize presented by Coalesce NOBILITY TECH $1,000 prize presented by Innovate Mississippi

Pre-Revenue 1 dozens of Mississippi entrepreneurs pitch their latest business ideas to a panel of investor and entrepreneur judges for the chance at exposure and operating capital in the form of cash and in-kind prizes. The 2016 Mississippi New Venture Challenge, Innovate Mississippi’s annual pitch competition, saw ideas ranging from machines developed for the home gardening market to complex operating systems designed to convert hotel mirrors into interactive, high-tech devices. No matter the level of innovation, one thing holds true – each entrepreneur endeavored to take their product to market and improve the lives of their customers. EACH YEAR,

AMARIE’S BATH FLOWER SHOP $3,000 prize presented by Baker Donelson GOD’S WAY ENTERPRISES/MAX BIT $2,000 prize presented by Littler BALANCED NUTRITION $1,000 prize presented by Innovate Mississippi

Pre-Revenue 2 LIVER NODULARITY $3,000 prize presented by Fuse.Cloud SHEENA ALLEN APPS $2,000 prize presented by Bradley SATCHEL $1,000 prize presented by Innovate Mississippi

EVENTS

Conference on T Technology Innovation NOVEMBER 1-2, 2016 DOWNTOWN JACKSON MARRIOTT

he 17th Annual Conference on Technology Innovation featured a dynamic keynote address from Mississippi’s most recent, and arguably biggest, entrepreneurial success story, Bill Rayburn of Oxford. While each year the Conference on Technology Innovation is a highlight among Mississippi’s innovators and entrepreneurs, Rayburn’s message this year placed a hopeful exclamation point on the year’s end – encouraging the audience of 300 to be innovative and creative in all they do. “This year was special because we had the big story of the FNC sale and Bill Rayburn here to talk about it,” said Innovate Mississippi president and CEO, Tony Jeff.

EVENTS

01. Bill Rayburn, Jan and Lawrence Farrington 02. Lamario Robinson, Jordan Magee, Eric Vaugh, Darko Sarenac, Catherine Sarenac 03. Toni Cooley, Nicole McNamee, Tony Scott 04. Rich Sun 05. Justin Egger, Thad Burke, Dustin Taylor 06. Jon Maynard, Tony Jeff 07. Doug Ward, Thad Burke 08. Kagan Coughlin 09. Jan Collins 10. Stephen Munn, Bill Harris, Aimee Stanford, Mayo Flynt 11. Congressman Gregg Harper 12. Fatima Chase, Mary Overstreet 13. Donald Causey 14. Greg Lovelady, Lois Lovelady, Bobby Rayburn 15. Josh Mabus

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JACKSON MARRIOTT 200 E. Amite Street Jackson, MS 39201 Phone 601.969.5100 www.marriott.com/janmc

COMPLETING THE CIRCUIT. At Entergy, the circuit means more than electricity. It means connection and potential. Families. Neighborhoods. Businesses. Weâ&#x20AC;&#x2122;re all part of a circuit. So we invest in industry. Inspire education. Nurture community. We empower each other. And together, we power life.

INNOVATEMEP MISSISSIPPI

InnovateMEP Mississippi InnovateMEP Mississippi worked with manufacturers to bring 419 new jobs to the state, while retaining 4,243 jobs.

BY THE NUMBERS

$27,585,000

$11,232,000

$9,613,853

NEW SALES

RETAINED SALES

COST SAVINGS

$13,236,840

$30,930,300

$1,026,400

INVESTMENT IN NEW PRODUCTS AND SERVICES

INVESTMENT IN PLANTS AND EQUIPMENT

INVESTMENT IN INFORMATION AND SOFTWARE

$34,905,771

$3,156,000

INVESTMENT IN WORKFORCE PRACTICES OR EMPLOYEE SKILLS

OTHER AREAS OF BUSINESS

ississippi’s Manufacturing Extension Partnership, known as InnovateMEP Mississippi, works with more than 200 Mississippi manufacturers each year to help them streamline productions, deploy innovative products and implement lean services – all in an effort to produce measurable impacts and topline growth as well as to become competitive in the global market. This statewide organization, which is part of a national program, actively connects its extensive, nationwide network of industry resources – from financial analysis and technology

services to staffing solutions and training programs – with Mississippi manufacturers. The manufacturing clients, in exchange, agree to complete a detailed survey designed to better help InnovateMEP Mississippi serve the state’s manufacturers. In 2016, InnovateMEP Mississippi successfully realized more than $27.5 million in new sales, $11.2 million in retained sales and identified $9.6 million in cost savings for Mississippi manufacturers. These InnovateMEP Mississippi projects with manufacturers enabled them to bring in 419 new jobs to the state, while retaining 4,243 jobs.

In addition, InnovateMEP Mississippi advised and led its clients through investments that ultimately garnered for Mississippi manufacturers more than $13.9 million in new products and services; $30.9 million in plants and equipment; $1 million in information, technologies and software; and $34.9 million in workforce practices and employee skills. FOR MORE INFORMATION, VISIT

www.innovatemep.ms

INNOVATEMEP MISSISSIPPI

INGALLS SHIPBUILDING headquartered in Pascagoula, is a pioneering company that manufactures technologically advanced warships for the surface Navy Fleet, U.S. Coast Guard, U.S. Marine Corps, and foreign and commercial fleets. Located in a shipyard that spans 800 acres and employs more than 11,000 individuals, it is Mississippiâ&#x20AC;&#x2122;s largest manufacturing employer. To provide a steady supply of workers with key skills, Ingalls Shipbuilding has instituted an innovative apprentice program that uniquely combines on-thejob training with classroom work that also translates into college credits. InnovateMEP Mississippi and Mississippi Gulf Coast Community College partnered with Ingalls Shipbuilding to create an accredited, streamlined apprentice program that would prepare and generate new workers for the shipbuilder. The apprentice programâ&#x20AC;&#x2122;s learning objectives, academic tests and coursework I NGALLS SHIPBUILDING,

are outlined for 12 different job positions and can take two to five years to complete. This proven combination of education and experience thoroughly prepares apprentices for both theoretical and real situations they may face in a career at Ingalls Shipbuilding, including some roles working with dangerous equipment. The success of the apprenticeship program effort between Ingalls Shipbuilding, InnovateMEP Mississippi and Mississippi Gulf Coast Community College ultimately created $4.9 million in new investments. And thanks to the new guarantee of an apprenticeship with college credit, Ingalls Shipbuilding gained 2,500 new jobs and $669,000 in new investments.

Reactive Surfaces develops the technology needed to create smudge-repellant screens.

REACTIVE SURFACES

first advertised Reactive Surfaces Limited’s eRace® screen protectors, the demand for the unique invention quickly spiked. To help meet this new customer demand and increase production, the manufacturing company reached out to InnovateMEP Mississippi, which then recruited the Mississippi Polymer Institute (MPI) into the fold. Reactive Surfaces Limited (RSL), which is located at The Accelerator at the University of Mississippi in Hattiesburg, creates nontoxic, eco-friendly paints and coatings that are designed to give added functionality to surfaces. The company found that DeGreez™, one of its products typically used for removing vegetable and animal oils from surfaces, could also be used to coat phone screen protectors to eliminate fingerprints and makeup smudges. Because DeGreez enzymatically converts oils and makeup to soap, smudges simply fall away like marks on a dry erase board. Needing a viable, quick solution to increasing its manufacturing levels to both accommodate and garner a piece of the growing screen protector market – which is estimated to be $200 million per year – InnovateMEP Mississippi was able to connect RSL with MPI. And with RSL and MPI having previously worked together on a Good Laboratory Practice study of biocidal products, RSL recognized MPI’s credibility, and was able to build upon an already familiar and comfortable working relationship. WHEN “AS SEEN ON TV”

Because of this strategic partnership with MPI now, RSL not only avoided having to recruit talent from out of state, but it was also confident and pleased with the initial decision to contact InnovateMEP Mississippi for production assistance. In the end, MPI successfully developed and implemented a manufacturing process at RSL’s laboratory and industrial facility. MPI also established manufacturing lines and stations, and put into place the safety and quality assurance/quality control procedures. Since the MPI staff had prior experience with polymer coatings and spray applications, the rate of the product manufacturing increased even more rapidly. Because of this successful pairing made by InnovateMEP Mississippi, thousands of tempered glass phone screens are now being produced each month in Mississippi. FOR MORE INFORMATION, VISIT

reactivesurfaces.com

INNOVATEMEP MISSISSIPPI

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Member FDIC

Systems Companies

Delivering Quality Training, Certification, and Consulting Services to the Customerâ&#x20AC;&#x2122;s Satisfaction

Contact: Systems IT â&#x20AC;&#x201C; Richard Carr 1855 Lakeland Drive, Suite R-101 Jackson, Mississippi 39216 Email: info@systemsit-ms.com Phone: (601) 914-4500

Contact: Systems Consultants Associates - Larry Davis 1400 Fourth Avenue, P. O. Box 5197 Jackson, Mississippi 39296-5197 Email: ldavis.systems@gmail.com Phone: (601) 718-7344

TheMaxBit garden tool is a drill bit that helps gardeners dig the perfect hole for containerized plants.

INNOVATEMEP MISSISSIPPI

IN JUST 10 MONTHS, Michele and Max Morton

went from having an innovative idea for a garden tool to manufacturing and selling their invention at a variety of local, regional and online garden supply retailers. The Mortons had a working prototype for a patented tool, TheMaxBit, which makes digging the perfect hole for containerized plants easy. The prototype, however, didn’t go very far with their limited experience in manufacturing. That’s when the Mortons reached out to Innovate Mississippi for assistance, and the manufacturing experts at InnovateMEP Mississippi engaged to find a Mississippi -based manufacturing partner to produce the tool. InnovateMEP Mississippi connected the Mortons with Orman Welding and Fabrication in West Point. Soon after, an agreement was struck to produce an initial batch of 100

small, 4-inch units for market testing, and more orders quickly followed. During the early production runs, the Mortons and Orman Welding worked together to perfect the product design to improve quality and manufacturability. Later orders included a larger, 6-inch version and an extension rod. Their goal is to grow their company, God’s Way Enterprises, to bring enough income to support their desire to engage in missionary work. In its first year on the market, TheMaxBit sold more than 650 units. And with a relationship between the Mortons and Walmart distributors forming, 2017 is projected to be even more successful. “When I look back over the last 10 months, I am amazed at what we have been able to accomplish in such a short time,” said Michele Morton. “With help from InnovateMEP Mississippi, we have gone from a dream to the reality of a quality manufactured product being offered in multiple market channels.” FOR MORE INFORMATION, VISIT

themaxbit.com

INNOVATEMEP MISSISSIPPI

INNOVATEMEP MISSISSIPPI AIDS ESCO’S EXPANSION its facilities into Mississippi to meet its sales requirements, the equipment manufacturing company reached out to InnovateMEP Mississippi for expansion and production assistance. ESCO, which manufactures, engineers and services mission-critical heavy equipment used by companies in the mining, construction, industrial, and oil and gas industries, began in Portland, Oregon. Later, to meet a growing demand, it expanded to Newton, Mississippi, where 250 employees now help produce adapters and points that attach to large digging equipment like excavators, wheel loaders and electric cable shovels. To accommodate the new extension at ESCO’s Newton facility, a proposed floor plan was developed. However, before purchasing new equipment W HEN ESCO EXPANDED

and beginning construction, management wanted to double-check for delays or other unforeseen problems. For a second – and independent – opinion, the manufacturing company contacted engineers at the InnovateMEP Mississippi Center at the Mississippi State University Center for Advanced Vehicular Systems Extension (MSU-CAVS-E). The MSU-CAVS-E engineers worked with ECSO’s plant manager to produce a layout that best fit the new sales goals. First, they created a discrete event simulation model, a system that analyzes production time and output, all under varying circumstances. In this instance, the manufacturing line events that occur in a queue were tested in order to accurately determine how much product can be manufactured, and at different production levels.

By building the discrete event simulation model, the MSU-CAVS-E engineers were able to determine how much of an expansion the facility needed in order to produce the manufacturing company’s products, and prevent delays and wasted funds during production. With the new information provided from the model, the engineers effectively redeveloped the floor plans, ultimately increasing production and improving flow in all areas of the plant. The outcome was so successful that ESCO hired the InnovateMEP Mississippi engineers to help in additional locations with other products.

“ Regions has the tools to help us take CONTROL of our finances.

“

While Sal works long hours during his surgery residency, his wife, Ashlee, is just as busy with their two kids. Yet they both have a good handle on their finances, thanks to Regions’ innovative online and mobile tools. From the goal trackers on My GreenInsights to the convenience of mobile text alerts,* the couple can track their spending and savings to the penny – which makes saving for a new house easier than ever. Ready to take your next step? We’re ready to help.

Watch Sal’s real Next Step story and plan your own at regions.com/nextstep. © 2017 Regions Bank. Actual Regions customer compensated for his appearance. *Your carrier’s message and data rates may apply. | Regions, the Regions logo and The Next Step Project are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank.

BOARD OF DIRECTORS CHAIRMAN

VICE CHAIRMAN

PAST CHAIRMAN 2013-2015

RICHARD A. SUN, CFA

MICHAEL H. FORSTER

R. MAYO FLYNT III

Founder & Owner Sun & Co. Jackson, MS

Former CEO Commercequest, Inc. Louisville, MS

President AT&T Mississippi Jackson, MS

JAN FARRINGTON

ASHBY FOOTE

DAN GRAFTON

Ridgeland, MS

President Vector Money Management Jackson, MS

Former President & CEO Vertex Aerospace, LLC Canton, MS

MATTHEW L. HOLLEMAN III

WILLIAM M. MOUNGER II

WILLIAM RAYBURN, PH.D.

R. BARRY CANNADA

President & CEO Galaxie Corporation Jackson, MS

Flowood, MS

Chairman & CEO mTrade Oxford, MS

Chairman Butler Snow — Business Dept. Ridgeland, MS

EXECUTIVE COMMITTEE

DEBORAH BAILEY

GREG CRONIN

DAVE DENNIS

ERIC GRAHAM

President Salon Group, Inc. Grenada, MS

President & CEO Charter Bank Biloxi, MS

President Specialty Contractors & Assoc. Gulfport, MS

Senior Vice President C Spire Ridgeland, MS

MARK HENDERSON

BRAD MCMULLAN

RODNEY BENNETT, ED.D.

GLENN BOYCE, PH.D.

Cofounder Lazy Magnolia Loglinear Group, LLC Waveland, MS

President BFAC.com Ridgeland, MS

President University of Southern Mississippi Hattiesburg, MS

Commissioner of Higher Education Mississippi IHL Jackson, MS

MARK KEENUM, PH.D.

ANDREA SCOTT MAYFIELD, PH.D.

JEFFREY S. VITTER, PH.D.

President Mississippi State University Starkville, MS

Executive Director Mississippi Community College Board Jackson, MS

Chancellor University of Mississippi Oxford, MS

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Mobilizing your community

Connected communities are strong communities. By advancing our technologies and services, weâ&#x20AC;&#x2122;re helping to create the opportunities that make a better Mississippi. When everything works together, your community moves forward.

With Mississippi’s only children’s hospital plus clinics statewide, we’re here for every Mississippi kid. Children’s of Mississippi is part of the University of Mississippi Medical Center.

Learn more at mississippikids.org

Visit online at www.msuceo.com

Discover how Mississippi State Universityâ&#x20AC;&#x2122;s Center for Entrepreneurship and Outreach links students and alumni entrepreneurs to create change across Mississippi and around the world.