Retired Navy Vice-Adm. Walter Davis, CEO of a company called EvoNexus kicked off a presentation on the company’s mission of providing aid to companies seeking mentorship, collaboration and access to capital. Founded in 1998 and formerly known as the San Diego Telecom Council, the company has three sites: San Diego, Irvine and Silicon Valley. Its strategic sponsors include San Diego-based Cubic and Qualcomm. San Diego’s first “business incubator,” EvoNexus has helped over 200 San Diego startups, 85% of which are still in business.
Davis described the process of selecting client companies. Out of perhaps 100 applicants, about 70 may be selected for further study and of those, maybe 20 selected for face-to-face meetings. Ten of these may be chosen for due diligence and half of those will typically survive the process. The ideal candidate would be a startup company with a clear market focus, sound business plan and at least two full-time employees. There are currently 239 companies participating and about 77 receiving funding.
Davis introduced Jose Gomez, CEO of Fluid Power A1 Inc. to describe a typical day in the life of a startup company which he said involves raising capital by day and building the company by night. Fluid Power A1 offers the latest in hydraulic equipment monitoring for wear. All hydraulic equipment is subject to wear but knowing when to service it is problematic. Breakdowns on the job can be hugely expensive. Fluid Power A1 provides monitoring from a single site avoiding costly breakdowns in heavy duty equipment such as large trash trucks.
Gomez was followed by Charles Brown, CEO of CLICS which deals in color creativity and technology. Brown discussed the challenges which hair salons must deal with in providing color choices, necessitating large inventories which require excessive space and result in heavy upfront inventory expense. There is also significant wastage and mixing and pouring errors amounting to about 30% of product. The solution is a compact canister dispensing system containing base colors allowing the operator to create and dispense any shade desired by the customer and maintain a history of the choice. It is a pay-as-you-use system which saves space, eliminates waste and saves in inventory costs.
Davis, a retired Navy fighter pilot, served many tours in the San Diego area and commanded the carrier USS Ranger with combat deployments to Vietnam and the Middle East. He was introduced by Roundtable Board Member Rear Adm. Tom Mercer. Roundtable President Kirk Henry presided over the ZOOM meeting. The Coronado Roundtable presents prominent speakers on a variety of topics at its monthly meeting on the fourth Friday of every month except November and December. The November meeting is on the third Friday because of the Thanksgiving holiday and there is no December meeting. Meetings begin at 10 a.m. and will be conducted by ZOOM until further notice. The public is cordially invited to participate.