Read Write Web recently posted a great article called “Going Alone: Thoughts on the Single-Person Startup”. It talked how founding a business alone can be more risky and difficult then founding one with a co-founder.
Even with what looks like hard road to travel alone not having a co-founder is not an excuse. The article stresses that point and the fact that there are other factors that dictate a startups success and failure.
The Pittsburgh Business Times reported that ModCloth, a Strip District based online indie clothing company, raised $19.8 million in the largest VC round of 2010. They plan to continue to seek funding until they raise over $30 million in funding.
I am really happy for these guys and there a shining example of what can come out of the Pittsburgh startup community. What started out in a dorm room is now a large company with offices three cities. I can no longer call ModCloth a startup but I am still going to follow these guys closely.
Very quickly they moved from startup, to small business, to an internationally known brand. I think my only concern is that as they gotten bigger, their quality has dropped. Still I don’t think that is enough to stop them from growing even larger. All the girls I know that complain about the quality, still buy over $100 worth of merchandise from them monthly (no joke).
February 10th, Google announced they are putting their hat in the ISP ring. While they are blatant about their reasons (to encourage more competition, improve speeds and decrease price) the hope of communities to be one of the test markets quickly grew. Councilman Bill Peduto, Carnegie Mellon, University of Pittsburgh, UPMC and Mayor Luke Ravenstahl, on February 12th announced their plans to put together a comprehensive response. Thanks to the support generated by the local community.
When news broke on Tuesday, the Pittsburgh Startup and tech communities rapidly fired off tweets employing their elected officials to put together an official response to the RFI. Since the crash of the internet bubble people have been bootstrapping and finding more and more ways to reduce the cost of starting a company. High-speeds and cheap internet have always been known as an attractor of entrepreneurs and helps a city be “start-up friendly.”
The current internet offerings in Pittsburgh aren’t dismal, but there is always room for improvement. One of the main goals of the program is to enable bandwidth intensive programs such as streaming three dimensional medical data to doctors around the world to learn and improve the care given. UPMC provides a prime opportunity for this given their innovative medical procedures and “early-adoptor” mentality to technology.
The Pittsburgh government, rightly, sees this as an opportunity to continue to spur economic growth. Hopefully they can put together a legitimate response and show Google that Pittsburgh can be more than just an engineering shop.
To assist in the effort you can write in to support your community, complete the Nominate Your Community form. Some things you may want to highlight in your response:
Lack of true competition for decent Internet
UPMC as a medical hub for the region
A number of current start-ups build on the internet
Faster internet will continue Pittsburgh’s economic recovery
AardarQ, a provider of a B2B AppStore framework for embeddable devices, just received $100k in funding from Innovation Works. Employing six people with plans to grow, AardarQ looks to build their customer base from two to three.
“The Innovation Works funding is a stamp of approval for our technology and our team’s ability to grow the business,”
Pittsburgh, PA – February 10, 2010AardvarQ™, LLC, provider of the industry’s first configurable, B2B AppStore™ Framework, today announced that it has been added as an Innovation Works portfolio company (http://www.innovationworks.org). Innovation Work’s resources will be used to expand AardvarQ’s AppStore Framework and to service initial customer demand.
AardvarQ’s AppStore Framework enables embedded device manufacturers to offer an innovative user experience for their B2B customers via a fully configurable online storefront. In addition to providing a steady flow of valuable productivity applications for their devices, AardvarQ enables device manufacturers to obtain detailed usage profiles for their installed base through its Web-based Device Dashboard.
“AardvarQ is a great addition to the Innovation Works portfolio,” said Richard Lunak, President and CEO for Innovation Works. “Their AppStore Framework provides a very innovative approach for embedded device manufacturers to stay connected with their installed base.”
Commercial devices are regularly purchased in bulk by large field service organizations with the assumption of a five- to ten-year usable life. Once shipped, manufacturers often lose track of these devices as they are assigned to a geographically dispersed mobile workforce. Whether a diagnostic, medical, point-of-sale or industrial control device, maintaining connectivity plays a crucial role in a manufacturer’s ability to manage a positive customer experience.
AardvarQ uniquely addresses this challenge by providing a virtual channel between a device manufacturer and their installed base of commercial devices. Device users are driven to the manufacturer’s branded AppStore to browse and install a steady stream of new/updated productivity applications. Upon accessing the AppStore, each device uploads a usage log that details the device’s location, usage and performance.
“The Innovation Works funding is a stamp of approval for our technology and our team’s ability to grow the business,” says Greg Quiggle, CEO of AardvarQ. “Our growing customer base needs to stay connected with their installed base of commercial devices. AardvarQ’s unique ability to log the usage of deployed devices enables manufacturers to (1) fine tune their feature sets, (2) proactively address performance issues in the field and (3) offer targeted on-the-job training aids.”
About AardvarQ
AardvarQ is the provider of the industry’s first configurable, B2B AppStore Framework. When licensed, AardvarQ provides a branded, hosted AppStore that can be offered in concert with an embedded device manufacturer’s product lines. Located in the suburbs of Pittsburgh, Pennsylvania, AardvarQ is a privately held corporation and both an Idea Foundry and an Innovation Works portfolio company. The AardvarQ team brings more than 20 years of experience defining, developing, launching and supporting successful embedded devices within a wide variety of B2B markets. For more information, visit www.aardvarq.net.
Local startup Skill-Life has just been acquired by BancVue. I first saw this story on the blog TechBurger. The full press release is posted below for your enjoyment.
Skill-Life has developed just the sort of Web-based applications that can teach children the fundamentals of managing their money
Austin, TX—February 9, 2010—BancVue (www.BancVue.com), a consumer research-driven product development and marketing company for community banks and credit unions around the country, today announced it has acquired Skill-Life, Inc., a provider of interactive, game-based resources focused on developing financial literacy.
Skill-Life’s youth-oriented platform adds to BancVue’s innovative lineup of solutions designed to help community financial institutions win the war against megabanks.
“An important mission of any community financial institution is providing financial education for its customers,” said Gabe Krajicek, Chief Executive Officer of BancVue, “and Skill-Life has developed just the sort of Web-based applications that can teach children the fundamentals of managing their money. The combination is a compelling value proposition for our community bank and credit union partners and their account holders.”
MoneyIsland™, Skill-Life’s flagship product (formerly called CentsCity), is essentially an online world where ‘tweens’—children in the so-called middle years between 8 and 12—learn financial skills and earn rewards from their financial institution. Parents are able to follow their childrens’ progress through a dynamic administrative interface. The firm expects to develop additional products applying Skill-Life’s platform, which incorporates casual games, interactive videos and quizzes, administrative tools for adults, and a customizable rewards system.
“With 81% of ‘tweens’ playing online games, and 87% of adults interested in teaching their children financial responsibility, we’re at the nexus of an emerging opportunity,” said Felix Brandon Lloyd, President of Skill-Life. “Through the extensive network of branches of BancVue’s clients, hundreds of thousands, eventually millions, of children around the country will gain access to much-needed financial education.”
The Skill-Life transaction is BancVue’s first corporate acquisition. The Texas-based firm has recently announced a number of strategic partnerships, including Allied Solutions and Myers & Associates. BancVue and its marketing partner FIRST ROI provide REALChecking®, a system of innovative products, superior marketing, and data-driven consulting, INMO™, the online account opening system with the highest funding rate, and FIRSTBranch®, a dynamic online marketing system designed exclusively for community financial institutions.
“In Skill-Life, we’re recognizing that industry leaders like Mr. Lloyd and his company can benefit from our network of clients,” says Krajicek. “At the same time, we gain from their creativity and enhance our own ability to serve BancVue’s partners.”
BancVue was recognized last year as the second fastest growing financial services firm in Inc. Magazine’s 28th Annual List of America’s Fastest-Growing Private Companies—the Inc. 500. In addition to the Deluxe partnership, the Austin-based firm expects to maintain its growth trajectory in 2010 with the nationwide launch of Kasasa™, a national brand of superior products designed to unite community financial institutions with the marketing scale they need to compete and win.
Read Write Web recently posted a great article called “Going Alone: Thoughts on the Single-Person Startup”. It talked how founding a business alone can be more risky and difficult then founding one with a co-founder.
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February 10th, Google announced they are putting their 
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