RDK Partners designed and successfully ran our first incubation program, IGNITE. From June 15 to June 22, we hosted three innovative startups, Itple, VFlap and Epikar sponsored by Hanyang University of Korea known for its engineering and entrepreneurship.
Our intensive, and one-of-a-kind incubation program was to offer diverse and very practical feedbacks on the participating companies’ products and services, and to introduce to seasoned investors and business professionals.
The Program was in three parts: IGNITE 1, 2 and 3. During “IGNITE 1,” some of New York’s most experienced experts in a number of fields will lead sessions consisting of a lecture and interactive discussion sharing their expertise and real-world experience. During “IGNITE 2,” each company sat and collaborated with assigned mentors to learn the best, usable advice available. Finally, the program culminated with “IGNITE 3” where they pitched to venture capitalists and angel investors in front of selected guests.
Each company was different. VFlap produces an interactive video platform where consumers can easily purchase products they see on screens. Itple offers real-time locating service device with voice communication feature that can replace analogue radio transceivers and enhance rescue operations. Epikar makes head-up display, or HUD, connected with cell phone, and solar panels to improve driver’s performance.
The advice and knowledge those three companies received were so programmatic and insightful that two of them even changed their business focus. For example, a crisis response expert informed Itple that its product would improve firefighters’ safety. One of the must carry items for firefighters is flashlights when going to rescue people in danger. Itple’s product can be so small to be embedded into flashlights, and firefighters no longer need to use usual bulky walkie talkies. Its locating service’s error of distance is only 2 inches diameter. The company changed its target customers and began working on prototype for laddermen.
Everyone at RDK became so grateful that our hard work, customization of the Program and careful choreography of specific instructors made meaningful contributions to VFlap, Itple, and Epikar.