Month: August 2017
Photo by Richard Hurd
Madison-based Tech Startup Tackles $37B Problem
Media Contact Information:
info@tlnetworx.com
608-960-7242
Direct Contact Information:
Cameron C. Smith
csmith@tlnetworx.com
608-225-8012
Date for Release:
August 17, 2017
Madison-based Tech Startup Tackles $37B Problem
Madison, WI – Business professionals and educators understand how cumbersome technology can be. Meetings, lessons and lectures are quickly derailed when the in-room display won’t power up or a laptop won’t transmit video.
It’s estimated that 20% of corporate meetings in the United States start late thanks to technology issues, costing businesses over $37 billion per year in lost productivity. Worse yet, businesses are spending north of $100 billion each year on meeting room technology – and still 88% of attendees voice frustration.
Schools and universities face a similar problem. 55% of educational spaces are incorporating presentation technology; however, the majority of teachers refrain from use due to “discomfort” or “lack of confidence.”
Madison-based tech startup TechLogix Networx aims to solve the problem. Founded by two audio-visual industry veterans, TechLogix seeks to automate collaborative spaces—the general term used for any area where two or more people share ideas and often digital content.
“For years we were part of the problem,” explains Cameron Smith, TechLogix CEO, about him and co-founder, Christopher Melendy. “We developed technology because we could, not necessarily because we should. The electronics industry in general stacked devices together to create Frankenstein systems when all users really needed was to share a simple PowerPoint. We founded TechLogix on the basic premise that technology must be affordable and deployable for every school and business, and it must be simple enough for anyone to use.”
This philosophy led TechLogix to develop several platforms which incorporate automation and hands-free control.
“Some of our solutions are extremely simple, like locking laptop adapters to presentation cables so they never get lost,” continues Mr. Smith. “But our flagship technology replaces the complex and expensive control system which is the failure point for most botched meetings.”
Earlier this year, TechLogix began shipping four product lines designed to streamline corporate and education presentations. Their most popular solution replaces the need for remote controls altogether—computers automatically connect to displays, and the room automatically turns on when people launch their presentation and off when they are done. This concept won TechLogix three technology awards at international trade events.
Simplifying audio-visual devices has pushed TechLogix into some unexpected markets. They’ve seen sales into retirement communities seeking to automate home theaters and retail stores looking to save energy by automatically powering down displays.
When asked about their technology philosophy, Mr. Smith responded “It’s all about simplicity. We’re not necessarily reinventing the wheel, just making it easier to use. Technology should make people more confident, not nervous. Presenting is already hard enough.”
About TechLogix Networx:
Headquartered in Madison, Wisconsin, TechLogix designs, develops and manufactures technology for the custom installation and commercial audio-visual markets. They are uniquely focused on collaboration products, as well as emerging technology such as fiber optics, automated controllers, AV over IP, and 18G digital video. Additional information is available online at www.tlnetworx.com
Photo by Richard Hurd
Betty Harris Custer receives Circle of Excellence award
Betty Harris Custer, Founding Managing Partner of Custer Plumb Financial Services, will receive the Women in Insurance & Financial Services’ (WIFS) annual “Circle of Excellence” honor for 2017 in October. The “Circle of Excellence” distinction is conferred upon a select number of women in the industry based upon their extraordinary achievements and given out at the WIFS national conference.
Photo by Richard Hurd
Farwell Earns Inc. Top 5000 Fastest Growing Companies, 184th Nationwide
NEWS RELEASE – FOR IMMEDIATE RELEASE
FOR MORE INFORMATION, CONTACT: Jason Potter, CEO, Farwell, 608/807-0615, Jason@gofarwell.com
FARWELL EARNS INC. TOP 5000 FASTEST GROWING COMPANIES, RANKS 184th NATIONWIDE
Madison-based Firm Places 2nd in WI for Rapid Growth, Flexible Change Advisory Services
Madison, Wisconsin – August 16, 2017 – Farwell, a Madison-based firm specializing in strategy and execution services for businesses experiencing growth-based, transformational and organizational change, was named to the 2017 Inc. 5000 list of fast-growing private companies. Ranking 184th nationally, and 2nd in Wisconsin, Farwell has expanded by 2,347 percent over the past three years, solidifying a strong trajectory for further growth throughout the Midwest. The Inc. 5000 is heralded as one of the most prestigious business rosters including the nation’s most successful private companies, and is a stamp of entrepreneurial achievement having once recognized business powerhouses Zappos.com, Under Armour, Pandora and GoPro, among others. Only four Wisconsin companies ranked in the top 500 on this year’s list of independent small to midsized businesses.
With a management team and growing network of project, process and change experts, Farwell works with a variety of regional clients including Lands’ End, MillerCoors, Fiskars, SubZero-Wolf, Promega, WPS Health Insurance and CUNA. Services include, but are not limited to: strategic planning for organizational or transformational change; project execution including project management, business analysis and process optimization; and partner services like research and trends; technical staffing and recruiting; and data architecture and business intelligence.
“Being named to the Inc. 5000 celebrates our amazing team at Farwell, and our flexible, collaborative, client-centric approach,” states Jason Potter, Founder & CEO. “It is also confirmation that changes in technology and competition are causing companies of all sizes to rethink how they do business. In the last 18 months, Farwell clients have been recognizing the great value of managing change on their most strategic and impactful projects.”
Starting with two employees in a co-working space, Farwell has grown largely based on its unique and dedicated approach to right-sizing efforts. Now occupying a 2,500 square foot office on Madison’s vibrant east side, Farwell offers solutions for companies of varying size and industry. “The key is that we meet our clients where they are from a size, budget and complexity standpoint. There is no minimum engagement duration and our team ramps the effort up and down based on the needs of the client. There is no ‘one-size-fits-all’ solution to managing this change based environment,” states Steve McQuin, VP of Client Solutions. Currently, Farwell has over 30 advisors leveraging established frameworks and methodologies to strategize, manage and implement change.
“On a macro-level, lower cost and ubiquitous technology have caused a massive disruption across all industries,” states McQuin. “We are seeing a fast-paced mix of increased competition, multitude of vendor solutions, and aggressive growth goals. This results in a wide breadth of transformation including things like modernization, organizational restructuring, consolidation, customer experience redesign, partnerships and automation. This affects all businesses – yet we’ve found only the largest have the resources to effectively develop their own change strategy and implementation plans. Farwell is dedicated to building a top team of experts in order to help all companies navigate change.”
About Farwell
Based in Madison, Wisconsin, Farwell provides services that help companies navigate varying types of growth-based, transformational and organizational change. The Farwell team includes Project, Program and Portfolio Managers, Process Improvement Engineers, Business Analysts, and Change Management experts. Farwell’s Partner Services include managed service providers, technical staffing firms, data experts, application development teams, and IT security consultants, among others. Farwell and its partners work together to develop custom, client-focused solutions.
For more information, visit www.gofarwell.com or connect with Farwell on LinkedIn, Twitter and Facebook to follow how change affects your industry.
About Inc. 5000
The Inc. 5000 list ranks private companies by overall revenue growth over a three-year period, offering a unique look at one of American economy’s most dynamic segments – its independent small and midsized businesses. The 2017 Inc. 5000 is among the most competitive in the list’s 36-year history with the average company achieving a three-year average growth of 481%. The 2017 list has aggregate revenue of $206 billion and collectively generated 619,500 jobs over the past three years. All 5,000 honoree companies are individually profiled on Inc.com. The top 500 are featured in the September issue of Inc. magazine. Inc. also ranks the fastest-growing companies by industry, metro area, revenue, and number of employees, and highlights women- and minority- run companies.
For more information, and complete results, visit: www.inc.com/inc5000.
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Photo by Richard Hurd
Acumium Promotes Clients and Innovation at the 2017 neXXpo
MADISON, August 17, 2017 /PRNewswire/ — To showcase innovation in Madison and among our client base, Acumium is a proud sponsor of the Greater Madison Convention and Visitors Bureau event neXXpo. It’s all part of an eight-day conference called Forward Fest, Wisconsin’s largest technology and entrepreneurship festival.
The event is a celebration of innovation and entrepreneurship, and its goal is to highlight businesses that will help drive our success in the next wave of the economy. Acumium, a Madison, Wisconsin-based digital marketing and web development agency, is proud to sponsor the following companies:
DROPP
One of the first major financial commitments college students and young professionals make is signing an apartment lease. What many of them don’t realize is that the credit reporting system in the United States does not include on-time rent payments as part of their credit history.
Scott and Matt Johanek, recent graduates from the University of Wisconsin-Madison, learned this the hard way but were smart enough to do something about it. They created DROPP, a web application that helps people establish and build credit worthiness through monthly payments that traditional credit reporting agencies ignore when compiling credit histories. These payments include such significant expenses as rent and childcare. What’s more, DROPP makes all this possible without the need for credit cards.
Standard of (k)are
“Retirement readiness” has become a buzz term in the financial planning industry. Retirement planning professionals now recognize that it is not enough to simply track participant rates, deferral rates and fund performances. They must be able to demonstrate and measure an individual’s ability to retire successfully — which means providing a higher level of service.
Chris Krueger and Dan Helf, veteran retirement planning advisors based in Madison, Wis., recognized this gap in the industry and worked to formulate a more efficient and personable way to help people achieve long-term feelings of security in the retirement planning process. They developed Standard of (k)are™ — a full-service web application that uses best fiduciary practices to create a retirement readiness tool for 401(k) advisors, plan sponsors and participants.
Cellara
Stem cell research is revolutionizing science and technology, and scientists need exceptional tools to keep pace in this rapidly evolving field. Enter Cellara, a dynamic team of stem cell and biotechnology professionals which is leading the way in establishing a global laboratory standard. Their approach will help fellow scientists better communicate with each other, more precisely document their work, and more effectively share knowledge and research.
Through development and collaboration with scientists and software experts, Cellara has introduced CultureTrax® — the first platform for stem cell culture researchers and scientists. The company’s vision is to accelerate scientific discoveries and breakthrough therapies based on advanced cell culture technology.
My Life and Wishes
https://www.mylifeandwishes.com/
When Michelle Braddock’s father, a private man who didn’t share household information with family members, passed away unexpectedly in 2013, she not only grieved the loss but also struggled to tie up all the loose ends. Michelle and her husband, Jon, spent months locating and obtaining access to her father’s bank accounts, insurance policies, safe deposits, retirement and pension accounts, online profiles and other valuable data that required closure.
The frustration that went along with that process led to conversations with friends who’d lost loved ones and experienced similar challenges. With Jon’s entrepreneurial experience and Michelle’s 30-plus years in the insurance and financial services industry, the couple created My Life & Wishes — a secure, online end-of-life planning platform and digital record that eliminates many of the anxieties survivors typically experience.
Innocorp
In 1992, a drunk driver barreled into the front yard of a home in Dane County, Wis., and struck a friend of Michael Aguilar’s 5-year-old son. The boy spent a week in the hospital and survived. Knowing how much worse the incident could have been, Aguilar — then the owner of a management consulting and training company — was determined to do something to help prevent future drunk driving-related injuries and fatalities.
He and his friend, Patrick Flaherty, developed the concept of so-called “drunk goggles” to simulate alcohol impairment as a tool to educate people about the dangers of drunk driving. The roots of Innocorp were in place, the start of a line of awareness-boosting impairment-simulating products and educational materials.
Acumium Innovation
Acumium, a digital marketing and application development agency based in Madison, takes the time to understand at a deep level the problems their clients’ products and services aim to solve, which is how the company’s team of technology experts can arrive at powerful and effective solutions. Each of the above sponsored companies has been given a leg-up with Acumium custom software solutions and business consulting.
Want to experience what’s next for Greater Madison’s economy? Join us for neXXpo 2017 on Monday, Aug. 21 at the Overture Center!
Photo by Richard Hurd
ThirdSpace Certified by State as Qualified New Business Venture
TAX CREDITS FOR INVESTORS WILL HELP THIRDSPACE RAISE CAPITAL TO ACCELERATE COMPANY’S GROWTH
MADISON, WI. AUG. 8, 2017 – ThirdSpace, a Madison startup developing tools to improve employee engagement, has received Qualified New Business Venture (QNBV) certification from the Wisconsin Economic Development Corporation (WEDC).
QNBV status allows investors in qualified startup and early-stage companies to receive a 25 percent state tax credit on the amount they invest in the business. The program, one of several WEDC initiatives aimed at supporting startups, helps early-stage companies secure new investment and accelerates their potential for growth and job creation in Wisconsin.
Investors in ThirdSpace, founded in 2014, are authorized to receive up to $187,500 in state income tax credits through March 2018.
“We are extremely excited to receive the QNBV certification from the WEDC,” said Zach Blumenfeld, who co-founded the company with Scott Kohl and Scott Jens. “This will not only help ThirdSpace as we are out fundraising, but it aligns with our goals of bringing more jobs to Madison as we continue to grow.”
ThirdSpace is an online workplace culture software that solves business challenges related to employee engagement, communication, onboarding and sharing workplace knowledge.
ThirdSpace is a finalist for the Greater Madison Area Chamber of Commerce’s Pressure Chamber pitch event and present to a panel of out-of-state investors on Aug. 21. The company also received an award for its innovative design from Marginalia, an online magazine that focuses on workplace culture.
In addition, ThirdSpace was a finalist in the 2017 Wisconsin Governor’s Business Plan Contest sponsored by the Wisconsin Technology Council.
ThirdSpace is currently raising funds to accelerate growth and scale the company. Funds will be primarily used to hire on more sales and marketing personnel, with a small percentage reserved for feature enhancements of the ThirdSpace software. The company plans to create 18 new jobs over the next three years.
“Wisconsin’s entrepreneurial community is incredibly vibrant, and a core part of WEDC’s mission is to support that community and nurture its future health,” said Aaron Hagar, WEDC’s vice president of entrepreneurship and innovation. “Helping innovative Wisconsin companies like ThirdSpace secure access to capital is one way in which WEDC supports next-generation companies.”
The QNBV Program helps startups close a critical gap in their development by offering tax credits for investments made in QNBV-certified companies. Participating businesses innovate and commercialize products in numerous industries including biotechnology, manufacturing, health technology, energy, information technology and more.
In 2016, the program helped 84 startups throughout the state draw more than $250 million in total financing, with the help of $17.9 million in tax credits. Three industries in particular saw the largest share of funding in 2016: information technology ($105 million); biotechnology ($69 million); and health technology ($35 million).
The program is one component of WEDC’s suite of entrepreneurship resources, which includes support for startup accelerators, seed capital funds and technology loans. In addition, WEDC supports and engages an existing statewide network of partners that offers business training, mentorship and financing to aspiring entrepreneurs.
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ABOUT THE WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities and people to thrive in a globally competitive environment. Working with more than 600 regional and local partners, WEDC develops and delivers solutions representative of a highly responsive and coordinated economic development network. Visit www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.