InSoCal Connect, a Riverside County nonprofit dedicated to the growth of the local innovation economy, has announced the selection of its first slate of Springboard companies.
Springboard is a structured mentorship program developed by Connect San Diego that assists early stage companies in developing the strategic plan, resources and fundamentals that will attract investors and spur growth. That process has successfully launched more than 300 companies and assisted in raising over one billion dollars in private capital since inception.
The three companies were selected from a group of nine innovative companies who presented to a panel of mentors from InSoCal Connect. As this is the organization’s first class of Springboard companies, the organization decided to keep the number of selected companies limited to guarantee that each one is provided with the mentorship and resources needed to ensure the highest degree of success.
“It was incredibly difficult deciding which companies to choose for our first class of Springboard companies,” said Don Warriner, the Springboard Program Director for InSoCal Connect. “We had dozens of applications and narrowed those down to nine presentations. There were several companies that we would have brought on board if we had the mentors and resources to adequately service them. These companies are very close to being fundable, and I am confident that with the mentorship and resources we will provide from this program, and the capital sources we want to introduce them to, that they can grow into strong local companies.”
Inviscid Software has a mission to support groups that perform therapy for autistic and learning disabled children by providing the best software and services to enable them to work at peak performance and efficiency. The company has developed a web-based software application designed specifically for ABA Therapy centers. Features include scheduling, authorization tracking, time tracking, expense tracking, clinical documentation and more. The company has current customers and is generating revenue. For more information visit www.inviscidsoftware.com.
Twubs is a hashtag aggregation, distribution and display solution. As companies begin to learn about the power of social networks, they are wondering how to leverage the power of these networks to establish and grow their brand. Established in 2009, Twubs.com, the leading hashtag registrar, provides brandable hashtag landing pages and Twitter groups, search and tweet to screen tools for live events used by more than 20,000 organizations globally. Twubs.com allows users to quickly and easily search for social media content via hashtags. After selecting groups they’re interested in, Twubs provides a central community-driven hub or “Twub” where they can access real time tweets, Instagram, and videos without having to click on an external link. For more information visit www.twubs.com.
Picking Duck is an exciting twist on sports betting and handicapping and is currently in stealth beta mode. The company is expected to launch in the first quarter of 2015.
The Springboard mentorship program is individually designed for each company. A primary mentor, or Entrepreneur in Residence, is assigned to the company. Both mentor and company agree to a series of goals and milestones, culminating in a “graduation ceremony” during which the company will make a presentation to a group of investors and stakeholders. The process can take from two to six months, depending on the development stage of the company and the work needed to make the company fully investor ready. During this period, the company is presented to a series of marketing and financial professionals for impartial feedback and suggestions. Additional resources in the form of legal and financial reviews help to “scrub” the company and prepare for investor due diligence.