JourneyLabs Inc. names Tim Bush as Chief Executive Officer
A Lake Mary medical tech firm named a former GE official to be its new CEO last month.
Tim Bush took over the leadership role of JourneyLabs in Lake Mary last month.
Bush helped GE launch its virtual hospital platform while there.
The company’s product is a digital platform that enables personalized and real-time care for mental health patients.
Bush spent part of his career at GE Healthcare, helping the company launch its virtual hospital business in the U.S.
“Tim’s healthcare technology sales and leadership experience will help us accelerate our bullish growth objectives,” said John Cooper, board director and managing partner of Halestreet Labs, in a news release. “We are thrilled to have him on board.”
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The company has kicked off a fundraising round alongside the new hire with the money expected to help increase commercial operations and expand its software development capability.
“I am extremely excited about the opportunity to lead JourneyLabs,” Bush said in the release. “The platform design, proven traction at our pilot sites and current market dynamics combine to create a tidal wave of momentum for us to capitalize on.”
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The GRD Biomechanics brace is an orthopedic recovery assistant that helped the firm land a $100,000 investment from an Orlando group. (SUBMITTED PHOTO)
When Mike Geldart crashed into a concrete barrier during a sanctioned race as a teenager, little did he know that it would become part of his entrepreneurial origin story.
Now 26, he suffered damaged knee ligaments and had to undergo surgery and a rehab stint to recover.
So when he needed a product idea that could be commercialized for a business competition, he pitched a knee brace to help with mobility issues caused by ligament damage.
“I figured, why not?” said Geldart, who three years later still suffered pain from the crash. “Maybe getting a patent will help me get a job.”
Instead, Geldart has created his own job, launching GRD Biomechanics in Daytona Beach two years ago. The company recently landed $100,000 from the fledgling Orlando Opportunity Fund, marking that group’s first-ever investment.
The money will help Geldart build out his team. (STORY CONTINUES BELOW)
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An accident leads to an idea
The brace started as a basement project shortly after Geldart’s accident about nine years ago.
He had grown up racing high-performance go carts and was a mechanical engineering student at the time.
As he looked for support braces after his injury, he tried to modify them but they were still too bulky.
“The whole experience didn’t work,” said Geldart, who attended Embry-Riddle Aeronautical University.
While there, he resurfaced his product idea at the Cairns Innovation Challenge in 2017. The effort landed him $10,000 and entry to UCF’s incubator in Daytona.
GRD Founder Mike Geldart
His background has helped in his effort to build a business, he said.
“Growing up in motorsports, I view risk a lot differently,” he said. “Starting a business wasn’t intimidating. I approached it as similar to getting into a racecar. You take all the precautions you can and plan but there are always things you can’t control.”
Help from Orlando fund
The Orlando Opportunity Fund investment will help Geldar support his 4,000-square-foot facility in Daytona Beach, launch an ecommerce site and add to his eight-person team.
Mike Geldart’s racecar. The entrepreneur still races cars in his spare time. SUBMITTED PHOTO
The Ascend brace is a lightweight system that helps a patient adjust the muscles used in performing typical functions like getting up or walking around.
When injured, the quadriceps typically do all of the heavy lifting. The brace helps balance the effort among several leg muscles.
Geldard says the brace, which he hopes will eventually help prevent injuries, has been selling well.
“We are getting more orders than we can handle,” said Geldart, who still races cars in his spare time.
GRD’s 3D-printed leg brace recently received approval from the Centers for Medicare and Medicaid Services for patient coverage.
Moving beyond tourism
Fund leaders have said they hope to invest in tech companies that can help move the region beyond its dependence on tourism.
“If we have learned anything from the current recession, it’s that we need to look for more non-traditional investment vehicles,” said John A. Cooper, president of startup investments for the Orlando Opportunity Fund. “This is why we started the Orlando Opportunity Fund – to support the region’s innovation and economic diversification.”
“They are disruptive and are taking an innovative approach to the knee braces and healthcare devices,” said David Brim, the fund’s chief strategy officer. “There is a lot of market potential there.”
The fund had already existing connections to GRD.
Chief Financial Officer Donna Mackenzie was involved with the Starter Studio incubator when GRD was there.
But the decision still was a tough one because it would be the fund’s first-ever investment.
“It was about knowing the entrepreneur and how hard he’s working,” Brim said. “The passion. Seeing some initial traction. That’s why we leaned toward him for the first investment.”
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The three panelists are Full Sail University alumni who now work in virtual and augmented reality. (Submitted photo)
Full Sail University recently launched a tech discussion series to highlight its alumni network to share career and industry information.
Tech Tuesday brings together alumni working in specific sectors for an hourlong chat for a virtual roundtable.
“I appreciate the opportunity to share what I’ve learned in my career and hopefully inspire others who are interested in my industry,” said Caris Frazier-Baker, a technical artist for Walter P. Moore who will be on today’s panel.
Additionally, Frazier-Baker will be joined by games and VR consultant Chance Glasco and Holovis Solutions Architect Mitchell Hartwell.
We caught up with Full Sail VP for emerging technologies Luis Garcia, who will moderate the discussion.
The Interview
Full Sail University’s Luis Garcia
Q: Why start Tech Tuesday?
A: Tech Tuesday is meant to inspire those who want to pursue careers in tech. We have a very accomplished base of alumni who love to give back, and this provides a great way for them to do that.
Q: Talk about the luxury of having such dynamic alumni.
A: It’s incredible. No matter the topic, we’ve been able to find excellent experts in our alumni base that provide insights and advice. We are very thankful to them.
Q: How can Full Sail contribute to the tech ecosystem’s growth here?
Many graduates stay local. All three panelists for today’s event are based in Orlando. Our robust degree programs in emerging tech, paired with skilled and prepared graduates from within these degrees, move into our regions talent pipeline. That strengthens it for continued and future growth. Orlando represents a great opportunity for technology and innovation in the country and we are excited to be part of that.
Q: Why did you pick these three panelists?
A: We try to show diversity of thought. The panelists usually come from different applications of the tech we are discussing. Today, we have Chance Glasco, who co-founded Doghead Simulations, which created a VR conference software. Caris Frazier-Baker from the architectural firm Walter P Moore, and Mitchell Hartwell from Holovis, a company that creates VR and AR experiences.
Q: What can visitors expect when they connect to the discussion?
A: It’ll be a dynamic but structured conversation that will touch in all three technologies using the experiences and insights of the panelists. For the first half of the event, we’ll discuss and explore thought provoking questions, and in the second half, the panelists will answer questions from the audience.
Q: What will virtual, augmented and mixed reality contribute to Orlando’s economy?
A: Orlando already has a very rich Simulation industry from military, aerospace, gaming and theme parks. We think that with the growth of VR, AR and MR in the consumer side, in addition to other industries embracing these technologies, Orlando could be a great contributor..
Submitted pic: The Royal Armed Forces in Morocco has hired an Orlando company for its training software.
The Royal Armed Forces in Morocco hired an Orlando defense firm to provide training software and support last month.
The business Engineering & Computer Simulations near UCF landed the work under the Joint Conflict and Tactical Simulation deal.
The deal includes global services and training to Morocco.
In addition, it will provide those services, as required, to the Norwegian Armed Forces.
ECS, a global training and technology firm, has its headquarters in Orlando.
It also has offices in Huntsville, Ala., and San Antonio, Texas.
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ECS will partner with Pilgrims Group USA on the project. which will run through February and includes two option years.
JCATS trains commanders and staff through combat formations and direct simulation of combat posts.
In addition, ECS will provide support personnel for the training program.
The company earned the award as part of the U.S. Army’s contracting command in Orlando.
The deal represents the seventh transaction that falls under a U.S. Army task order.
The order is executed on behalf of Program Executive Officer for Simulation, Training and Instrumentation, or PEO-STRI.
“ECS has been supporting U.S. soldiers for over 23 years by integrating innovative technology with unique global training solutions,” said Mick Golson, ECS’ chief operating officer in a press release.
Company officials announced the deal on July 9.
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PaperStac CEO Rick Allen poses for cofounder Brett Burky as a reaction to a $25,000 cash injection in the firm’s downtown Orlando office. – OTN photo
As Rick Allen sat in his mortgage notes company Paperstac’s downtown Orlando office, talking last month about the company’s growth, he received a text message.
A $25,000 cash injection he had been waiting for was a go. Welcome to the world of startups, where every little bit of money ensures more runway to build the business.
Paperstac can be compared to an eBay-like platform for documents known as mortgage notes, or the promise between a borrower and an institution to pay back a loan.
The notes have typically traded on private markets.
“We wanted to change the way these things were traded and digitized it,” Allen said. “Even up until 2008, debt was trading among the silent elite. It wasn’t available for the common person.”
Growing its influence in mortgage notes
Paperstac’s influence and respect in the industry expanded quickly once launched.
Allen’s team started to work together in 2008, when his firm was buying distressed properties to flip them and sell to investors.
A competitor who performed a similar function at a lower cost slowed the effort.
“We needed something more stable,” he said. “We were going to fix up houses, flip them then play golf all afternoon.”
That became buying debt mortgages to resell them in 2013. The practice led them to their idea: they wanted to work with borrowers.
The team learned some lessons when an initial developer underperformed.
However, Allen and his team righted the ship to launch Paperstac in 2017.
NoteExpo 2018
Paperstac used the highly attended Note Expo in 2018 as a coming-out party.
“Vendors wouldn’t talk to us when we first launched. In 2016, they were asking us what we were even doing there,” Allen said. “Two years later, we had a live demo running and were just mobbed. We were the talk of the event.”
Last year, NoteExpo leaders pulled company officials on stage for a live demonstration.
The company’s success has helped the Paperstac team come together and pull for a common goal, Allen said.
“When you worry about what’s best for the company, you can give up any pride issues you might have,” he said. “I don’t necessarily want to be the dumbest guy in the room but I want to have smart people around me.”
Magic Gaming has entered into a deal with Misfits Gaming Group. (Photo courtesy of Magic Gaming)
You might see more esports-specific branding at Amway Center when the NBA returns to normal.
The Orlando Magic last month expanded its partnership with the Boca Raton-based Misfits Gaming Group.
That group owns several esports teams, including the Florida Mayhem in the Overwatch League and Florida Mutineers in the Call of Duty League.
The deal centers mostly around marketing as the pact allows the Magic to include Misfits Gaming Group in deals that could help both organizations.
Misfits Gaming also announced a similar deal with the Miami Heat.
Esports has become a large part of professional sports leagues’ promotional push. The NBA and Major League Soccer starting leagues that revolve around video games.
The Orlando Magic and Miami Heat have been part of the NBA 2K League since its inaugural season.
The Magic will integrate more deeply into Overwatch League, Call of Duty League, League of Legends European Championship and Fortnite.
The deal represents the first of its kind for an NBA team.
“As we work towards being esports leaders in the state of Florida, we will join forces to assist esports brands in targeting new revenue opportunities and strategic partnerships in the market,” said J.T. McWalters, the Magic’s VP of partnership activation and strategy, in a release.
Magic Gaming finished the 2020 regular season at 7-9.
The squad will compete in the NBA 2K League’s THE TICKET tournament this weekend.
Talon Simulations CEO Brandon Naids had music to fall back on during the slowdown his company experienced because of the coronavirus pandemic.
Talon Simulations CEO Brandon Naids plucks his Fender, carefully sequencing notes, as he performs original instrumental music.
The 29-year-old entrepreneur sits in the den of his Altamonte Springs home.
On the other side of a webcam: students.
Naids has returned to a decades-old passion, which he uses to pursue alternate income as the coronavirus pandemic continues to stress businesses in Central Florida.
The head of Talon, which builds mechanized chairs that bring virtual reality to life for consumers and other markets, has been strumming guitars since they were bigger than him.
“I picked it up when I realized I wasn’t good at sports,” said Naids, who started playing at 12 years old. “It was my after-school activity.”
Now, it represents a lifeline at a time that has seen many businesses seek alternate revenue streams. The pandemic has affected Orlando companies in many ways.
For Naids and Talon, it meant losing contracts that had been ready to be signed.
Some customers could no longer afford the luxury of what Talon Simulations offers.
Naids reached out to other local businesses, which created something of a local support system for entrepreneurs.
“We went into scramble mode,” Naids said. “We were unsure what we were going to do.”
That meant a pivot, with Naids’ 5-year-old business now more-heavily targeting the defense industry, which needs simulation chairs for training devices, along with luxury homes.
Loans from the federal government helped Talon withstand months without revenue, a result of the pandemic’s devastating effect on the arcade industry.
Naids’ interest in music had once seen him start a band with a few friends.
He often performed at jam sessions hosted by Barley & Vine on Washington Street.
When the bar moved those sessions online and on Facebook, Naids continues to participate.
“I love performing,” said Naids, who was in the musical “The Music Man” while in high school. “Even during a virtual performance, you get a rush.”
The performances allowed him a chance to add virtual tip jars, which led to him starting to offer online guitar lessons.
But, although he earned nominal income from the performances, playing guitar offers him more.
“In life, you need something to get your mind off things,” he said. “It’s a great feeling to disconnect sometimes.”
Entrepreneurship already comes with its ups and downs. Naids isn’t the first to call it a roller coaster.
The pandemic, however, has thrown a unique variable into the lives of those who own businesses.
Naids partially credits the Orlando community with helping him withstand the ride.
“It has been huge to fall back and relate with other entrepreneurs here,” he said. “We can bounce ideas off each other. It’s been amazing to have that support system. At the end of the day, we have all been there.”
The guitar lessons help Naids continue to build.
“When I tell my kids in 15 years what I did during the pandemic, I don’t want to tell them that I was binge watching Netflix,” he said.
