New Year, New Residents!

Outside, the temperature is sub-zero, but our hearts are warm at Catapult as we welcome four new companies: MonumentPrecognitive, Printavo, and mRelief.

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Monument has created an Artificial Intelligence-powered device to help folks keep their memories stored and organized in one place. Instead of carrying multiple USBs and logging into multiple clouds, their product stores all of your photos and videos, organizing them by date, location, person and more. The company, co-founded by Ercan Erciyes and Semih Hazar, launched in 2016 with one of the most funded Kickstarter projects in the technology category worldwide. Since then, they've gained customers in 94 countries and on-shelf presence at Best Buy. Not only are they startup superstars, they're some of the nicest guys around the Catapult office. 

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Founded in 2016, Precognitive uses a multi-layered approach to proactively identifying fraud before a transaction takes place. CEO Sam Bouso has brought together a team of fraud and risk management professionals to assist ecommerce merchants and financial institutionsin staying ahead of tech-savvy fraudsters. After a $1.25M seed funding round in May of 2017, Precognitive is on track for a great year of growth and we're happy to call them part of the family!

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Also joining the Catapult house is the B2B SaaS company, Printavo! Printavo is a cloud-based online software designed for artisan shops specializing in prints, signage & promotional materials, embroidery and more. Founder Bruce Ackerman was running a printing business on a college campus himself when he discovered the need for a platform to help organize the backend of image based shops. This firsthand experience ensures clients that Printavo understands their needs and are committed to increasing a shop's efficiency and productivity. Printavo is especially cool because they are a startup that encourages other startups with a blog chock-full of tips and strategies on how to develop a small business. We're eager to learn more from Bruce and his team!

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The fourth company to join the Catapult community is mRelief. mRelief is a nonprofit created to address the $13 billion in unclaimed food stamps in America. To this end mRelief has built an easy-to-use platform on web and text messaging for low-income Americans to find out if they qualify and enroll for food stamps. Co-founders Rose Afriyie (who has worked at Google’s Community Partnerships Program and interned with the White House during the passage of healthcare reform) and Genevieve Nielsen (one of Forbes 30 Under 30 Social Entrepreneurs) have developed a platform that simplifies the process for low-income Americans to find out if they qualify and apply for food stamps. Already live in 42 states, mRelief has helped over 235,000 families connect to social services. Catapult is proud to have this female-founded, community-driven company in the house.

You thought your house was full over the holidays? You should see ours! No seriously, come on by and say hello to these amazing companies before you read about them on all of the "Best of 2018" lists. Head here to schedule a tour and learn more about how to join our one-of-a-kind community.

Graduation Caps for 3PM Solutions, Junto, and Rent like a champion!

We're proud to announce our three recent Catapult graduates!

3PM SOLUTIONS

We'll miss seeing these smiling faces every day!

We'll miss seeing these smiling faces every day!

3PM Solutions is a global analytics provider focused on eCommerce marketplace websites like Amazon, eBay and Walmart. 3PMs cloud-based platform provides users with the best in class dataset and solutions to increase eCommerce revenue. From never before seen insights to metrics that measure eCommerce performance, 3PM is trusted by the most recognized Fortune 500 brands.

3PM joined Catapult in August 2016.  They began 2017 with an annual recurring revenue (ARR) below one hundred and fifty thousand dollars and passed the one million dollar milestone prior to exiting Catapult. During their tenure, the team tripled and clients increased fifteenfold.

“Passing this milestone for a SaaS company is a big accomplishment, said Rob Dunkel, Founder. “Catapult was a great experience and I look forward to continuing the relationship.” They’ve left the Catapult nest and moved into their own office space. Best of luck to Rob and the 3PM Solutions team! Stay in touch with them at 3pm.ai.

THe junto institute

The Junto Institute for Entrepreneurial Leadership is an accelerator for growth-stage startups with a unique focus on emotional intelligence, education, and mentoring. Founder Raman Chadha began setting Junto's course in 2010 and was later joined by Catherine Jelinek. The company launched its pilot program and first cohort in 2013. Inspired by Benjamin Franklin's model of uniting entrepreneurs of his time, Junto creates an educational space that brings mentors, instructors, and entrepreneurs together to unleash their own growing power. 

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While they were residents of Catapult, Junto did some growing of their own. Junto bootstrapped and brought on 5 new hires, bringing their team to 7. Now, with 20 graduate companies, they are expanding to LA. We are so proud to have gotten to know a company with so many similar values and aspirations for the field of entrepreneurship. Follow them on Twitter: @JuntoInst and learn more at thejuntoinstitute.com.

Rent Like a Champion

Rent Like A Champion started out as a Notre Dame student housing rental company that happened to list a vacant apartment as a weekend rental for a football game and it turned out so well that the company was able to pivot into their current space. "Many college towns lack the infrastructure to support the tens of thousands of football fans who flock to town on game weekends," says Mike Doyle, CEO of Rent Like A Champion. "We're all college football fans so we had experienced first hand the difficulty in finding lodging in these situations. Rent Like A Champion gives traveling fans the option to stay in a home close to campus, and keep their friends and family under one roof."

Behold, as they lunch like champions!

Behold, as they lunch like champions!

The Company joined Catapult in 2015 and during their tenure the company appeared on Shark Tank twice and were able to raise $200K from those appearances. They have also expanded their reach by partnering with 10 PGA Tour events which include hosting golfers, tournament sponsors, and tournament vendors.  Along the way they also increased their revenue twofold on an annual basis and added 2,500 new homes to their platform.

We’re sad to see Rent Like A Champion leave but, we’re excited to see what comes next for them. Follow them on Twitter: @RentLikeAChampion and learn more at rentlikeachampion.com.

While parting is such sweet sorrow, we are excited to cheer on our graduating alumni as they continue on their journey!

Get to Know Our New Community Coordinator!

We're happy to welcome Elyse Dawson as Catapult Chicago's Community Coordinator!

5 Things To Know About Elyse

1. Originally from Beavercreek, Ohio, she moved to Chicago in 2010.

2. When she's not rocking the office, she's an actor and stage combatant. She is Co-Artistic Director of Babes With Blades Theatre Company

3. She's a big horror buff and has a podcast, called The Girls Next Gore where she and her co host review movies.

4. She <3s video games and grew up as a SEGA kid. Her favorite console is the Dreamcast and some of her favorite games are Shenmue, Dragon's Lair, and Red Dead Redemption.

5. She is convinced that peanut butter will be the best nutritional supply in an emergency state.

Our new(ish) company has us smiling

Our new(ish) company brings innovation to market research. Founded by Michele Smyth, this unique platform enables photo-based surveys that help researchers better understand consumer lifestyles. The idea is to go deeper than surveys and broader than focus groups. This new method gives insight to consumer lifestyles.

As an app user, you take selfies with instructions. For each task you can earn anywhere between 20 cents and a dollar. Plus, a dollar on Selfie Saturdays. When you’ve accumulated 20 dollars in your piggy bank, you cash out and receive a check. Easy.

On the brand side, you can sponsor a selfie and put your brand on the assignment and offer a discount to those that completed your assignment. And all of that is on top of gaining a better understanding of consumers and what they want.

A number of things make Pay Your Selfie unique, the blend of computer vision and human intelligence, the general idea, being woman founded, and the idea itself.

You can find them here: http://www.payyourselfie.com/ or Twitter: @Pay_Your_Selfie or IG: PayYourSelfie

 

 

 

Chicago Inno Feature: How Catapult Turns the '90% of Startups Fail' Stat Upside Down

Every entrepreneur knows the statistic. Somewhere around 90% of startups are going to fail, and even the best ideas with the best execution can succumb to the risky nature of starting a new business.

But at Chicago incubator and co-working space Catapult, the numbers look a little different. In fact, since the space launched five years ago, 90% of the startups that’ve come through its doors have been acquired or are still active today.

Catapult isn’t as big and flashy as some of the competing co-working spaces around town—it’s just 10,000 square feet—but it boasts an enviable startup hit rate that you’d be hard pressed to find at any other space in Chicago.

Its member companies have included some of the hottest startups Chicago’s seen in the last half decade, including Shiftgig, Opternative, Bucketfeet, Rippleshot and Jiobit, along with Shark Tank standouts Packback and Rent Like a Champion.

Since it launched in 2012, Catapult members have raised $150 million in venture funding, hosting 43 companies that have employed 800 people. Five of Catapult’s members have been acquired, including Plantlink (acquired by Scotts Miracle-Gro), TempoIQ (acquired by Avant) and Tastebud (acquired by Raise). Among the few failures Catapult has seen is wearable tech startup Rithmio, which raised $3.6 million and shut down at the end of 2016.

So, what sets Catapult apart? Not just any startup can come in and rent desk space. Companies interested in joining Catapult must pitch their businesses to Catapult’s members, who then decide whether or not to admit the company into the space. Startups have to be beyond the idea stage, have proven business traction, product-market fit, around 10 or less employees, and generate revenue, Catapult General Manager Caitlin McAllister said.

Not every startup gets in (Catapult turned down two companies last month), and it’s a model that helps the small co-working space punch above its weight, she said.

“We’re small, but mighty,” McAllister said. “We’re looking for the best of the best. That’s why we have such a good success rate.”

Catapult, which is industry agnostic and doesn’t take equity in startups, also fosters a spirit of collaboration between its member companies and the alumni network of startups that have since moved out, McAllister said.

“People come to Catapult because they want to learn from others and receive help from others,” she said. “Businesses here are at the same stage and see the same problems that come with scale. It’s a help-me-help-you environment.”

And Catapult’s newest members have the potential to keep the co-working space’s batting average high: Fly.io, an Application Delivery Network that makes a company’s apps run faster, is co-founded by Kurt Mackey, who previously founded Y Combinator-backed Compose, which sold to IBM in 2015; Rhabit, founded by two former NCAA tennis players, gives aspiring athletes access to top tennis coaches and professionals through instructional videos and online lessons; and Pay Your Selfie lets users get paid for, you guessed it, taking selfies while providing custom data to brands. Its clients include Crest toothpaste and Goose Island beer.

Catapult has also gone through a space renovation and a website overhaul to give its members even more resources to build their businesses, McAllister said.

“Companies that have graduated five years ago are still coming back for founder forums and events,” she said. “The model continues to work.”

New Companies (yes, plural)

Catapult is excited to welcome UrbanStat and Rhabit to the community. They are different faces of innovation and both a lot to bring to the table. 

UrbanStat is a quick and complicated tool that was first founded by Anil and Nilgun Celik in Turkey. It helps insurers better predict the likelihood of “make or break” claims at the time of underwriting. Its fully automated underwriting API utilizes a unique ensemble of geographic and statistical modeling, machine learning, and human intelligence. UrbanStat offers an end-to-end analytic product which enables underwriters, risk engineers, reinsurance and C-level managers to prepare and access visual and spatial reports for their millions of customers within seconds.

Founded by brothers Connor and Jeff, Rhabit is set to officially launch their online sports coaching platform very soon. Rhabit, which stands for repeated habit, allows subscribers to access coaching from current & retired professional players, college coaches, and top developmental coaches through on-demand videos and one-to-one interactive lessons all online. To help users reach their full potential, the online sports education platform features instruction and perspectives from the world’s top coaches and players.

Fun Times at Catapult Startup Field Day 2017

April 8 was a gorgeous spring day in Chicago, and the perfect backdrop for our second annual Catapult Startup Field Day. Over 200 people from the Chicago startup community gathered at the Windy City Field House for basketball, bags, and bocce tournaments. 

It was an amazing day, full of bag tossing, beer drinking, layup making, lobster mac & cheese eating, shop talking, bocce ball throwing, pizza devouring, and trash talking.

Occasion Graduates Catapult

Occasion is now in the alumni column! Congratulations to Occasion, the first company to move out (or should we say grow out?) of Catapult in 2017. Occasion is a scheduling-based e-commerce platform founded in 2013 by Aksh Gupta, Pelle ten Cate and Kieran Klaasen (we love their “met through Airbnb” founding story). The Occasion online calendar solution helps small businesses seamlessly take bookings, promote their business, and manage operations across all channels.

Catapult Hosts WorldChicago Fellow

Catapult is privileged to host a Fellow as part of the WorldChicago Professional Fellows Program. Andrea Cordas, Managing Director at startup accelerator SPARK Business Park in Mostar, Bosnia and Herzegovina, is spending her Fellowship in Chicago working at Catapult this month. SPARK is a privately funded accelerator with the mission to boost innovation, increase technology, and develop entrepreneurship in the region. 

3PM Marketplace Solutions Joins Catapult

We are excited to welcome 3PM Marketplace Solutions to the Catapult community.

Marketplace websites are the future of online retail. Amazon is the leader, while Alibaba, Walmart, Target, and others are rapidly expanding. There are billions of listings and millions of third party sellers, creating a massive problem for brands. It is a never ending challenge to know who is selling your products and how they are being sold. Enter 3PM Marketplace Solutions.

The Black Sheep Graduates Catapult

Congratulations to The Black Sheep, joining the Catapult graduating class of 2016!

The Black Sheep is a collegiate media and marketing company focused on the millennial audience. Through an integrated, multi-platform approach (including on campus, digital, social, email and print), local and national brands can more authentically and effectively reach the collegiate demographic. The core of The Black Sheep brand is humorous, engaging content written by students, for students, at their own school, thereby building an audience base for clients to reach through the various channels.