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Alabama Launchpad with Greg Sheek, director of Launchpad Programs

August 18, 2015 by Sheree Martin

Greg Sheek, director of Launchpad Programs, is the guest on episode 10 of the Ignite Alabama podcast

Greg Sheek, director of Launchpad Programs, is the guest on episode 10 of the Ignite Alabama podcast

Greg Sheek, director of Launchpad Programs, gives us an in-depth look at the Alabama Launchpad, a program of the Economic Development Partnership of Alabama.

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In this week’s show, Greg describes the Launchpad startup competition, time frame for submission (currently running 3 times per year), and the types of feedback that entrepreneurs who go through the competition receive throughout the process.

Greg also provides an overview of the annual Innovation Conference and SBIR grant assistance provided through the Launchpad programs.

This year’s Innovation Conference is set for September 2, 2015 in Birmingham.

Subscribe to the Ignite Alabama podcast on iTunes and listen via your favorite podcast app.

Updated show notes coming soon.

010-IgniteAlabama-GregSheek-Instagram

 

Filed Under: Accelerators & Start-up Incubators, Ignite Alabama Podcast Tagged With: Alabama Launchpad

MediaBit by BDI Labs: Tony Megna, Founder

August 11, 2015 by Sheree Martin

Tony Megna founder of BDI Labs, is the guest on episode 9 of Ignite Alabama talking about the MediaBit product development and Kickstarter campaign

Tony Megna, founder of BDI Labs, is the guest on episode 9 of Ignite Alabama.

He gives a look at MediaBit, the main product in the Internet of Things product line that BDI Labs will roll out over the next few years.

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BDI Labs, based in Huntsville, Alabama, recently finished its season with the GIGTANK Accelerator Program in Chattanooga and is in the middle of a Kickstarter campaign that will end August 22, 2015.

In addition to telling us about the MediaBit, Tony offers up some great tips and advice for start-up entrepreneurs. I’ll add some of those here later, so check back for updated show notes.

Tony had great things to say about BDI Labs experience in the GIGTANK Accelerator Program.

Tony Megna founder of BDI Labs, is the guest on episode 9 of Ignite Alabama talking about the MediaBit product development and Kickstarter campaign

A special shout out to the 5 individuals who left awesome 5 star reviews of the Ignite Alabama podcast over on iTunes. Thank you, thank you. I so glad to hear that YOU like like what YOU’RE hearing.

If you are so inclined, I would very much appreciate it if you would leave a rating or review of the Ignite Alabama podcast on whatever platform you’re using to listen to the show, whether it’s SoundCloud, Stitcher Radio, Pocketcasts or iTunes or whatever. Or leave your comment below.

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 You can also subscribe and listen via SoundCloud player (or embed the SoundCloud version into your own social share or website).

Tony Megna, founder of BDI Labs, is the guest on episode 9 of the Ignite Alabama podcast

Filed Under: Accelerators & Start-up Incubators, Entrepreneurs, Ignite Alabama Podcast Tagged With: GIGTANK Accelerator, Huntsville Alabama, Internet of Things, North Alabama Startups

Fear of Failure in Entrepreneurship

August 8, 2015 by Sheree Martin

Episode 8 of Ignite Alabama focuses on Fear of Failure in Entrepreneurship and a survey of academic research on this topic by Dr. Gabriella Cacciotti Warwick Business School Enterprise Research Centre

“Fear of Failure” is a theme that has come up frequently in early episodes of Ignite Alabama and in my general conversations about what holds people back from becoming an entrepreneur or taking action to go for a goal or dream.

Dr. Gabriella Cacciotti’s research centers on the “fear of failure” concept as it relates to entrepreneurship. We spoke recently via Skype about her doctoral research on the concept of fear of failure and the excellent literature review paper she published in 2014 with Professor James Hayton through the Enterprise Research Centre in England.

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This is the first “theory” focused episode of Ignite Alabama and Dr. Cacciotti provides an excellent summation of her research which reveals inconsistencies in the conceptualization of “fear of failure” and varied approaches to classifying and measuring this somewhat ephemeral concept.

We go a little deep but if you are interested why it can be challenging to “get your head around” fear of failure I think you will enjoy this episode.

You can find out more about Dr. Cacciotti’s research and download the paper we reference in this conversation here on the Enterprise Research Centre website.

As Dr. Cacciotti mentioned in our interview, she’ll soon be moving to Aalto University in Helsinki to continue her research.

Below the SoundCloud embedded file you’ll find some notes I made after reviewing the finished interview. These notes are my attempts to paraphrase and summarize Dr. Cacciotti’s commentary and insights during the interview so that I could give you something in this blog post that’s more in the nature of journalistic reporting, rather than a transcript.

All ideas, findings and scholarly contributions reflected in my summary below should be credited to Dr. Cacciotti. Any mistakes in summation or paraphrase are my own and unintentional.

 

Dr. Cacciotti classified the existing research on fear of failure in entrepreneurship into two groups based on the conceptual definition of fear of failure used in a particular study.

Research Articles in Group 1

In Dr. Cacciotti’s classification system, studies in the group 1 body of research treated the concept of fear of failure as a “stable personality trait“ and most of the studies focused on the tendency of individuals to experience fear of failure, not the actual experience of failure.

In effect, fear of failure in this conceptualization is a “characteristic that distinguishes one person from another.”

Some of the studies in Group 1 focus on the fear of failure as the level of perceived risk in starting a business and treat risk aversion and fear of failure as equivalent concepts.

Common Findings of Group 1 Research

The common finding or conclusion across the studies in group 1 body of research is that the fear of failure has a negative influence on the decision to start a business.

In other words, these studies see the fear of failure as something “antecedent” to the decision to start a business.

Dr. Cacciotti says the findings in this first group of studies are informative, but also limited by some inconsistencies in the conceptualization and other research findings that show that the feeling aspects of fear of failure don’t always limit an individual’s decision to start a business or pursue entrepreneurial activities.

Dr. Cacciotti says that research in psychology shows there’s a nonlinear relationship between fear of failure and attitude toward risk, yet entrepreneurship research tends to treat fear of failure and risk aversion as linear.

Studies from psychology have shown that in some people with a high level of fear of failure will choose extremely difficult tasks so that if they fail they can blame the outcome on the difficulty; others will choose a very easy task so that the desired outcome can be easily attained.  At the same time, research in psychology shows that some individuals with high levels of fear of failure will choose to perform “tasks of moderate difficulty.”

In addition to the challenges raised by conceptual inconsistencies, Dr. Cacciotti identified a methodological challenge because most of the studies “rely on the Global Entrepreneurship Monitor data.” She explains why this is a problem in the interview around the 10 minute mark (and in her paper, as well).

Basically, the question posed in the GEM survey is one that ties attitude about fear with anticipated behavioral outcome in a unidirectional sense.

This unidirectional relationship conflicts with the research from psychology which has shown that fear of failure is a multidimensional variable (see the work by Conroy & Elliott, here in PDF form) with dualistic behavioral implications. Research from psychology has found that the fear of failure motivates some people to work harder, while others are inhibited by the fear of failure.

The end result is that use of this particular item from the Global Entrepreneurship Monitor is inappropriate for the fear of failure studies in entrepreneurship because it has built-in assumptions about fear of failure which are not supported by the research in psychology on fear of failure.

Group 2 Studies

In this group of studies on fear of failure in entrepreneurship, researchers consider fear of failure as a “temporary emotional state” rather than a stable personality trait. The temporary emotional state “is triggered by appraisal of external cues from the environment” and is “associated with psychological and behavioral responses.”

Group 2 studies “look at the real experience of fear of failure” rather than the dispositional tendency, but the end result from this body of studies is largely that fear of failure is negative and something to be avoided. In other words, this research concludes that fear of failure has a negative effect on the decision to start a business.

In spite of the overall consistency in conclusions across the studies in both groups of research, Dr. Cacciotti and her colleagues also found conceptual and methodological limitations in Group 2 studies.

Limitations of Group 2 Studies

One limitation is that these Group 2 studies lump fear with other negative emotions like anger and sadness. Some of the research is based on data derived using scales that simply measure general negative emotions, rather than specific negative emotions like fear or sadness.

This lumping together of negative emotions is in contrast to the research in psychological literature which finds differences between the various negative emotions and demonstrates that “each negative emotion has a distinct impact on behavior.”

It is problematic when scholars studying fear of failure in entrepreneurship use these general measures of negative emotion because they aren’t actually studying fear of failure, they are studying the impact of general negative emotion on entrepreneurship.

Another issue in some of these studies is the failure to differentiate between the general concept of fear and the specific fear of failure. We can’t adequately study the fear of failure in entrepreneurship if we don’t determine whether the object of someone’s fear is due to something unrelated to business risks or if the fear is specific to possible business outcomes, opportunities, and so on.

In short, the research from both groups clearly demonstrates that fear of failure has a negative impact on entrepreneurship BUT—and this is what’s important—the conceptual and methodological limitations of the existing research are such that the results are too muddled (my word) to be meaningful.

New Approaches in Studying Fear of Failure in Entrepreneurship

With the recognition of these limitations in the existing research, Dr. Cacciotti and her colleagues are seeking to find a better way to define the concept of fear of failure in entrepreneurship.

Until the concept is properly and consistently defined and measured, future research on fear of failure in entrepreneurship will be less-than-helpful (at best) and potentially damaging to campaigns and programs ostensibly designed to promote and encourage entrepreneurial behavior. This is basically my admonition, but Dr. Cacciotti seemed to concur with my assessment during our conversation.

In short, Dr. Cacciotti agrees that as a result of the inconsistencies and limitations, it would be improper at this time to make generalizations about fear of failure in entrepreneurship from the existing literature.

A subsequent study by Dr. Cacciotti and her colleagues sought to develop a better conceptualization of fear of failure by focusing on the actual experience of fear of failure by entrepreneurs.

Dr. Cacciotti begins to explain this study around the 19 minute mark in the interview.

They first began by looking to the research from psychology, focusing on the work by Dr. Conroy who defined fear of failure as a multidimensional construct built on 5 dimensions that distinct trigger cognitive responses. Here’s a study by Conroy & Elliott that describes fear of failure in the context of sports.

For example, environmental components can impact the tendency to experience fear of failure, as well as relationship variables such as a desire to avoid disappointing significant others.

To move forward in their research, Dr. Cacciotti’s team had to first decide if they could (or would) take the existing models in psychology and apply them directly in fear of failure in entrepreneurship.

The second decision they had to make was whether “to talk about fear of failure as a tendency or observe the real experience of fear of failure.” Fear of failure is both a tendency and an experience, but before designing the study, Dr. Cacciotti and her colleagues had to decide which approach to take as they set out to measure the relationship between fear of failure and a particular behavior.

Sports & Education Contexts Are Different From Business Contexts

One challenge is that most of the research in psychology on fear of failure has grown out of education and sports, which is contextually different than the business environment.

I posed an example of a desire to make it to the Olympics as a runner and used that to differentiate the plethora of environmental variables that also play into outcomes in business, which are much less relevant in success at a personal endeavor like achievement in individual sporting activities. Obviously, there are environmental variables at play in individual sporting success that are beyond the control of the athlete but not to the degree that those impact business outcomes.

Dr. Cacciotti pointed out that uncertainty in the business environment is very high.

What constitutes a failure in education or sports is fairly obvious in terms of what can be defined objectively, such as the failure to achieve a specific an outcome. If the goal is to win a tournament or competition or receive a certain grade on an exam, in an objective sense the failure to achieve that goal could be defined as a failure, even if the experience leads to better performance in the future.

In contrast, failure in entrepreneurship is “very subjective” and “idiosyncratic.” Failure can be both global and catastrophic in business or failure of tiny specific steps.

I used the examples of financial market collapse as a source of potential failure, industry upheavals and something on a smaller scale, like failure to pursue the right customers or the inability get a key infusion of capital when the time is right to expand or even the choice to go after an expansion vs. staying small and retaining control.

Risk Perception & Cultural Norms

Starting around the 28-minute mark We had a short discussion about risk perception, defining what is a risk and how culture and institutions within a particular culture help to shape perceptions of risk and definitions of failure before moving back into Dr. Cacciotti’s research.

Around 32:00, Dr. Cacciotti gives the example of how failure in business is perceived in Italy and how “the sense of shame that comes from” business failure is just below the “feeling that comes from loneliness and abandonment.”

Dr. Cacciotti’s Recent Findings

Around 35:30 we returned to the findings of Dr. Cacciotti’s second study, which focused on the experience of fear of failure based on interviews with over 60 entrepreneurs in the UK and Canada.

None of these entrepreneurs specifically named fear of failure as the reason they didn’t start something. These individuals lumped fear of failure in when other reasons, such as lack of capital.

Furthermore, fear of failure is experienced by active entrepreneurs at various points in the business experience, not just in the decision to start the business. In some cases, fear of failure was motivational for those individuals, in other situations it was inhibitory, thus confirming the dualistic impact on behavior.

Dr. Cacciotti said the research also confirmed the multidimensional aspect of fear of failure, but the dimensions weren’t exactly the same as the ones recognized by the psychology research.

Around 38 minutes, Dr. Cacciotti begins to explain the dimensions in fear of failure they identified as specific to entrepreneurship. This research has been presented at academic conferences and is now under review for publication in academic journals.

Although Dr. Cacciotti specifically names and briefly explains the 7 dimensions found in their research, I’m going to hold off on listing those here until I confirm that it’s OK to do so. If you’re curious, you can listen to the interview for now, again starting around the 38:00 minute mark.

If you found this summation helpful, I’d love to hear from you. Leave a comment below.

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Filed Under: Ignite Alabama Podcast Tagged With: entrepreneurship, fear of failure, psychology, Theory

Dr Kenneth Sloan, UAB, on 3D Printing

July 28, 2015 by Sheree Martin

Dr. Kenneth Sloan UAB Department of Computer Science

In this episode of the Ignite Alabama podcast we take a big-picture look at 3D printing technology from the perspective of Dr. Kenneth Sloan, UAB professor of computer science and director of the 3D Print Lab at UAB.

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Consider this the introductory episode to 3D printing technology, also known as additive manufacturing. Dr. Sloan’s area of expertise is in computer science for 3D modeling.

The 3D Print lab at UAB is mainly used for teaching and research but contract 3D printing can be performed on a limited scale for anyone who has the CAD model program written for a project.

In terms of materials, the UAB 3D Print Lab can print in both ABS and PLA thermoplastics. ABS is a very sturdy plastic, while PLA is a non-toxic biodegradable plastic that’s suitable for medical type implants. Dr. Sloan gets into the difference briefly in his comments.

I first learned about 3D printing or additive manufacturing when I was a contributing writer for Fabricating Equipment News way back at the dawn of the 21st century. I was writing on rapid prototyping and innovations in fabrication and machining and was constantly interviewing researchers and engineers who were working on the cutting edge of that technology in the time between 1999 and 2002 so it’s exciting to see how the technology is advancing along with our growth computer processing capacity and understanding of materials science.

In this interview, Dr. Sloan talks about how the rapid advancement of computing capacity has made 3D printing possible. He provides some insights into the viability of 3D printing for custom manufacturing and the challenges of 3D printing for traditional mass production of inexpensive items.

Dr. Kenneth Sloan UAB Department of Computer Science

Dr. Sloan provides several examples of how dentists are using 3D printed implants and other items in today’s dental practice.

We also get into the subject of how students can prepare for careers that will involve 3D modeling and new approaches to machining, fabrication in manufacturing.

One of my goals for Ignite Alabama, as a podcast and a movement, is to help raise awareness of the many new technologies that are now available to entrepreneurs and to help everyone from business advisers to policymakers to investors to educators generate ideas to move our economy forward.

I’m working now to line up interviewers with other researchers, scientists and engineers who look at 3D printing from other angles such as biotech applications for burn treatment and materials research for industrial applications of 3D printing, such as in development by Rolls Royce using titanium to print a component for one of its jet engines. That part is already being tested.

If you have an interest in being featured on the show, please reach out to me. The easiest place to find me online is LinkedIn.

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Filed Under: Ignite Alabama Podcast, Resources Tagged With: 3D Printing, UAB

SimplyProse – Online Writing Platform

July 21, 2015 by Sheree Martin

SimplyProse CEO Jacob Wright and COO Cole KInchler are the guests on episode 6 of Ignite Alabama podcast, a Shinecast® show

SimplyProse CEO Jacob Wright and COO Cole KInchler are the guests on episode 6 of Ignite Alabama podcast, a Shinecast® show

In episode 6 of Ignite Alabama we met Jake Wright and Cole Kinchler, two of the co-founders of SimplyProse, an online writing platform, that is making some noise in the start-up world as they move toward a full launch of the website. Jake and Cole are senior business majors at Auburn University.

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In this interview, Jake and Cole explain how they came up with the SimplyProse idea as part of the Tiger Cage business pitch competition in the Fall of 2014.

The recognition they received from the Tiger Cage competition led to mentoring by Kyle Sandler of The Round House.

SimplyProse recently moved forward in the Alabama Launchpad startup pitch competition.

In the SimplyProse platform writers find a space to create, critique and market their work for profit or personal enjoyment.

Each writer gets to decide who can view their work, whether anyone can contribute, which suggestions are most beneficial, and which publisher best fits their budget and objectives for their project.

Publishers and literary agents can use SimplyProse to find writers and manuscripts.

In addition to explaining the SimplyProse platform, Jake and Cole describe their experience growing a startup while students at Auburn University and the support they’ve received through mentoring by Kyle Sandler, John McAfee’s team, and others.

As someone who values walking and the creative process, I love it that the idea for SimplyProse came during a walk that was specifically aimed at coming up with business ideas.

You can subscribe to Ignite Alabama on iTunes, Stitcher Radio, or listen here or via SoundCloud.

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SimplyProse CEO Jacob Wright and COO Cole KInchler are the guests on episode 6 of Ignite Alabama podcast, a Shinecast® show

Filed Under: Entrepreneurs, Ignite Alabama Podcast Tagged With: Auburn University, Internet Technology, Kyle Sandler, SimplyProse

The Ark Labs – Water Monitoring and Control Technology

July 14, 2015 by Sheree Martin

Episode 5 of Ignite Alabama podcast features Robbie Hillis explaining Ark Labs water monitoring technology

 

The Ark Labs a Florence, Alabama start-up that is developing technology to combine artificial intelligence with smart devices and the internet of things to monitor and control residential and commercial water usage.

The technology will help to boost water efficiency, reduce insurance claims due to water damage, and reduce demands on local water supply and wastewater treatment facilities.

In episode 5 of Ignite Alabama I talk to Robbie Hillis, the force behind this Florence, Alabama-based startup.

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The Ark Labs is one of the startups chosen to participate in this summer’s GIGTANK Accelerator program in Chattanooga.

Damage caused by water leaks in homes and businesses causes billions of dollars in insurance claims and losses each year.

Water leaks, large and small, deplete water resources and put a strain on wastewater treatment facilities. Even if these leaks don’t cause physical damage, the lost water and system demand means we’re paying billions (as a society) for water losses and depleting water resources in ways that we can no longer afford.

After we cover the problem that The Ark Labs technology will solve, Robbie and I get into a bigger discussion about entrepreneurship in Alabama, the fear of failure and desire for the illusion of security that seems to hold back so many people who might otherwise start a business (small or large).

We also talk about taking off the blinders to discover the plethora of innovative ideas that are all around us. If you have a hobby, you’re probably creative and innovative in ways that can open the door to business opportunities.

Robbie and I both agree that farmers are among the most innovative and resourceful people in the world, but they don’t always see ways to monetize their innovations.

Robbie will be presenting at the GIGTANK Accelerator Demo Day in Chattanooga on July 28, 2015. This event is free and open to the public.

Follow The Ark Labs on Facebook

Connect with The Ark Labs on Twitter

The Ark Labs Robbie Hillis on episode 5 of Ignite Alabama podcast about smart technology to improve water efficiency

Filed Under: Entrepreneurs, Ignite Alabama Podcast Tagged With: Chattanooga, Green Technology, Internet of Things, North Alabama Startups

MotionMobs – Mobile First Software Applications

July 13, 2015 by Sheree Martin

MotionMobs, mobile-first software development firm, Taylor Wyatt on Ignite Alabama podcast

MotionMobs, mobile-first software development firm, Taylor Wyatt on Ignite Alabama podcast

MotionMobs is a mobile-first app development company headquartered in Birmingham, Alabama.

In episode 4 of Ignite Alabama, Taylor Wyatt, co-founder and president of MotionMobs, talks about starting MotionMobs in 2010 with her co-founder, Josh Grenon, and how the company has grown over the past 5 years.

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The focus of our conversation is on the importance of planning, whether you’re developing an app or launching a new business. We also talk about the benefits and challenges of growing a tech startup in Alabama.

Other topics include:

  • Connecting with investors and other methods of funding a startup.
  • Education with the focus on tech education and the role of traditional 4-year college degrees for tech careers.

Josh Grenon left MotionMobs and Birmingham in 2011 to move to the San Francisco area and Taylor purchased his interest in the company at that time. Taylor has since expanded the leadership team of MotionMobs and grown the company significantly over those years.

According to a recent update by the Birmingham Business Journal, MotionMobs is preparing to open a second office in the Atlanta area.

This conversation is the same interview available as episode 4 of Birmingham Shines podcast, with different intro and outro comments from the host, Sheree Martin.

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Filed Under: Entrepreneurs, Ignite Alabama Podcast, Software Development & Consulting Tagged With: App Development Companies, Birmingham, MotionMobs, Taylor Wyatt

Jennifer Skjellum: Entrepreneur, Tech Birmingham & More

July 7, 2015 by Sheree Martin

Jennifer Skjellum of Run Time Computing and Tech Birmingham is the guest on episode 3 of Ignite Alabama podcast

In episode 3 of Ignite Alabama I talk with Jennifer Skjellum, executive director of Tech Birmingham and the Central Alabama chapter of Angel Investor Management Group.

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Jennifer moved to Alabama from Starville, Mississippi when her husband became chair of the Computer Science department at UAB.

She’s a successful tech entrepreneur with several successful business ventures under her belt and she’s now involved in helping other entrepreneurs and start-up visionaries grow and launch their businesses through her work with the AIM Group, Tech Birmingham and a new 501(c)(3), Tech Alabama.

In this episode, we cover everything from the recent Kaufmann Foundation report which ranked Alabama 49th in startups to a new coding program for teen girls.

This interview also appears on the Birmingham Shines podcast (episode 12).

Check back soon for updated show notes and the opportunity to purchase a PDF transcript of this episode.

Filed Under: Ignite Alabama Podcast, Networking & Professional Development Tagged With: Angel Investors Management Group, Birmingham Events, Tech Alabama, Tech Birmingham

Soluble Therapeutics Inc. Eases Pharma R&D Bottleneck

July 6, 2015 by Sheree Martin

Episode 2 of Ignite Alabama features John McCarter of Soluble Therapeutics Inc. explaining the Birmingham biotech's technology

Soluble Therapeutics, Inc. was formed in 2008 to commercialize technology developed by UAB researchers. This HSC™ Technology helps to deal with a bottleneck in pharmaceutical R&D–the identification of appropriate biologic solutions to deliver protein-based drugs.

The  HSC™ Technology also has industrial applications.

In 2010 Dr. Joseph M. Garner came on board as CEO of Soluble Therapeutics, Inc. to lead the commercialization efforts and continue to validate the technology.

Director of Business Development, John McCarter, is the guest of this episode of Ignite Alabama. He began working with Soluble Therapeutics, Inc. in 2010 as an intern and moved through the ranks in business development.

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John explains the company’s transition from a primary focus on technology validation to the commercialization of the technology and expansion.

He also describes some of the capitalization sources, which have included significant infusion from venture capital funds and a $1 million NIH grant.

Soluble Therapeutics, Inc. has a global customer base and John explains how he uses webinars, LinkedIn and other internet-based communications technology to complement his marketing efforts at international conferences. 

We also talk about the attributes of a 21st century economy and whether Alabama and Birmingham is moving in the right direction.

PDF transcripts of each episode of Ignite Alabama will soon be available for purchase at a nominal price.

Ignite Alabama is a Shinecast® podcast developed, produced and hosted by Sheree Martin.

Filed Under: BioTech, Ignite Alabama Podcast Tagged With: Birmingham, Healthcare, Pharmaceutical Research, Shinecast, Soluble Therapeutics Inc.

Kyle Sandler

July 2, 2015 by Sheree Martin

Kyle Sandler, founder and conductor at The Round House in Opelika is guest for episode 1 of Ignite Alabama, a Shinecast® podcast

Podcast episode and blog post deleted.



Filed Under: Accelerators & Start-up Incubators, Entrepreneurs, Ignite Alabama Podcast Tagged With: Kyle Sandler, Nibletz, The Round House in Opelika

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