November 18, 2015
The Justice Accelerator (JusticeXL) a 10-week business accelerator cohort with specific focus on three components of the justice system: law enforcement, public safety and corrections, celebrated its ‘Investor Day’ today in the Legends Ballroom at the Southern Middle Tennessee Entrepreneur Center (SMTEC).
The mission of JusticeXL is to accelerate entrepreneurs and start-up companies in their process of developing tactics and strategies that are effective, efficient and economical, as measured by improved public safety, reduced crime, higher case closure rates, and transformational corrections systems.
The strategy of JusticeXL is to turn discoveries into investible companies, then help those companies raise funds and convert their ideas into reality.
The nine ‘graduating’ companies were welcomed by Coffee County Mayor Gary Cordell and State Representative Judd Matheny. Both gentlemen thanked the participants for bringing their businesses to Tullahoma/Coffee County to learn and to accelerate their businesses under the guidance of Mr. Dan Marcum (Executive Director of SMTEC). Additionally, Representative Matheny briefed the numerous Angel Investors, Venture Capitalists and Bankers on the continued work by the legislature to ensure that Tennessee is a great place to start, grow and mature a business.
Bob Rodes, who is starting a business that will be based in Manchester, stated that “JusticeXL was exactly the program that I needed to acquire the knowledge necessary to build and operate a successful business.” This was a common theme from the nine companies. Jamie Davenport, Co-Founder of US Military Convertors, said, “It expanded my knowledge of potential financial avenues. Also, the connections made were invaluable. I now know where to find the people I need. I could not have done that without Justice XL.”
Companies that presented their ideas to the the Angel Investors, Venture Capitalists and Bankers Wednesday were as follows.
R3dStar, a Nashville based company that provides healthcare software to correction facilities. RedStar has received a ‘Term Sheet’ from a potential Angel Investment Group.
ICE BlackBox, a California based company that is looking to relocate to Tennessee, has developed an app that they believe will reduce incidents of Criminal Domestic Violence and violations of Protective Orders. ICE BlackBox has caught the attention of a Fortune 50 company and will be ready to launch their app this spring.
Seke, of Lexington KY, has taken roadside visibility of runners, bicyclist, construction workers and public safety personnel to a whole new level. They have invented a safety vest that can be seen up to a mile away. A local public safety department is field testing the vests.
MechOptix, of Huntsville AL, has invented an automatic brake light that will illuminate upon deceleration when the brakes have not been used. This is especially useful on motorcycles, bicycles and vehicles that have been involved in a collision and the driver did not brake before the crash. MechOptix has several angel funds that are interested in assisting them in growing and bringing this product to market.
IDS (Innertainment Delivery System), of Nashville, is providing new and innovative educational delivery systems and content to correctional facilities. Dr. Turner Nashe, Founder of IDS reported ‘…that the research shows that recidivism can be reduced to near zero if we can provide advanced degree education to those who are incarcerated.’
Corvus Technologies, of Phoenix AZ, is developing a technology that allows for public safety to locate other public safety personnel (such as firefighters in a smoke filled building) inside areas where no GPS signals can be received. Corvus is looking to move their company to Tennessee if they are able to secure the needed investments.
Piece Parts Logistics Systems (PPLS), a start-up located in Manchester is tackling the difficult task of providing US Government entities such as the Army, Navy, Air Force and Marine Corp with hard to source spare parts. This company has the potential to scale quickly and impact the local economy with jobs associated with the logistics of providing these items.
US Military Converters, a Tullahoma based company, has developed a method to print and deliver military uniform material that is of a higher quality and at a competitive price than ever before. They are on track to being very profitable in the near future.
Redoubt.4, also a Tullahoma company, is gearing up to provide support to the US Military and the Common Remotely Operated Weapons System. They will be providing this support across the US and internationally. Clennon Steele, one of the co-founders of Redoubt.4, said, “Any company that is serious about starting a company or has recently started a company needs to attend one of the programs offered by SMTEC. Learning from the experience of others who have traveled the road before us is an amazing opportunity.”
The next accelerator will be scheduled in 2016 depending upon available funding. If you are thinking about starting any type of company, SMTEC is available to assist you with information. You can learn more by going to www.SMTEC.com or by calling them at the numbers listed on the web site.