Grid110: The Million Dollar Cohort
As we find ourselves a quarter of the way through the year, the Grid110 team is excited to announce the selected companies for our Spring 2018 programs. We wrapped our Fall 2017 programs in December and kicked off the new year by launching right into application mode for this year’s first programs. There was a notable 20% increase in application submissions compared to last Fall, from companies across various verticals and based all over the LA/OC region. Since expanding our programs beyond the fashion tech vertical, we’ve been delighted with the range of products, founders and teams we’ve been introduced to.
Meet the Companies
The five companies selected for the Spring 2018 Residency Program feature a diverse set of products with incredible founders who have already gained significant traction. So much so that we’ve dubbed this the Million Dollar Cohort (cue Lil Wayne’s A Milli…), which includes companies who — in the past year — have raised a million dollars in funding, generated a million dollars in revenue and processed over a million dollars through their platform. Traction aside, they are all deeply committed to the communities they are serving and making an impact. Two of the companies have a female CEO and four have a female co-founder, adding to a key metric that we’re proud to retain: more than 50% of founders who have participated in Grid110 programs since 2015 have been female. A bonus fun fact: four of the companies are also family owned & operated businesses! Without further delay, allow us to introduce you to Grid110’s latest cohort of companies:
- Comunity: Founded in 2017 by Sean & Shannon Scott and Ryan Gumienny, COMUNITY is a catalyst for change. Their mission is to inspire action, participation, and empowerment of others in the community. To fuel their mission, they make premium quality shoes, handcrafted by artisans here in Los Angeles. With every pair of shoes sold, they give $10 to a carefully vetted local community effort of your choice; supporting the Arts, Education, or Ending Homelessness.
- Floravere: Founded in 2016 by Molly Kang and Denise Jin, Floravere is changing the way women make one of the most memorable purchases of their life — their wedding dress. They make luxury wedding dresses radically accessible by offering their collection online, at historically impossible prices, so brides can select styles online to try on at home or a pop-up salon, anywhere in the US.
- FOOD: Founded in 2012, by Aram and Margeaux Zadikian, FOOD (formerly, Margeaux and Linda’s Vegan Kitchen), manufactures and distributes locally sourced, nutrient rich, grab and go meals, snacks and desserts to over 90 health food stores, juice bars and coffee shops in Southern California. FOOD serves various niche markets in the food industry, specializing in serving consumers who are following specific health food regimens, e.g. Plant-based, Paleo, AIP, Ketogenic.
- PRZM: Founded in 2017 by Kim Stiefel and Sarah Wissel, PRZM enables brands to sell recurring everyday products (e.g., vitamins, contacts, toilet paper) without the hassle of a traditional subscription model. The PRZM platform is powered by predictive, low-friction tech, that is more delightful for consumers, resulting in extended lifetime value for brands.
- SimplyAfterschool : Founded in 2016 by Shaun Tuch and Gary Tuch, SimplyAfterschool is cloud based activity management software. They help kid-focused activity providers save time, increase profit, and decrease liability without roster builder, transaction tracker, and checkout waiver. SimplyAfterschool is used by organizations across the globe to better manage and grow their after school classes and camps.
We are also halfway through the Spring 2018 Idea to Prototype program, an 8 week program that provides an affordable (free!), flexible, and quality educational experience for emerging entrepreneurs and experienced professionals alike who are seeking ways to expand and advance their entrepreneurial ambitions. I2P is the first step towards viability, arming entrepreneurs with the tools, framework, structure and community to expand an idea and to validate a prototype. Some of the participating teams include: Althea Solutions, APRL, ARKO, Ember, Oodon, Encounter Mountain Retreat, Pioneer Social Enterprise and Wingerly.
Interested in joining the Grid110 community and applying for our next program? Applications are now open for the Summer 2018 Idea to Prototype program! Applications for the next Residency Program will open in July.
Founded in 2015 as an economic and community development non-profit aimed at supporting the growth of the startup ecosystem in Downtown Los Angeles, Grid110 began as a collective of 7 entrepreneurs who all shared a similar vision of Downtown LA as the next tech hub. Since the inception of the first program, we have now provided 40 early stage startups with access to free office space, mentoring and other critical resources through cohort based programs. We do not currently provide any funding, but companies also do not give up any equity or pay fees to participate in the program. Our focus is to help companies realize sustainable growth paths that allow them to scale their businesses (and teams) right here in Los Angeles. Many thanks to our extraordinary partners who help us make all of this possible: The Office of Mayor Eric Garcetti, LA Economic Workforce Development Department, Nixon Peabody and Cross Campus.
We’re always looking to expand our efforts. If what we’re doing at Grid110 resonates with you, please reach out to explore collaborative partnerships. We’re also actively seeking grant invitations and open to discussing potential sponsorship opportunities. You can also connect with us on Twitter, Instagram or Facebook.