Digital Sandbox KC, which works with community partners to provide resources for early-stage technology companies, has helped 19 startups raise $7 million in investments since early 2013—six months ahead of schedule.
“Unlike traditional business incubators and investors, our assistance isn’t in the form of equity or a loan,” said Jeff Shackelford, director of Digital Sandbox KC. “Instead, we can fund a vendor to do a project that could dramatically shift a company’s path to development.”
Digital Sandbox KC’s involvement with tech startups includes its funding of a medical startup’s patient trial, furnishing software coding help for a real estate app and underwriting a cloud-based professional services company’s contract for a CIO consultant.
“Because we’re not a business plan competition, we can help lots of very early-stage businesses that may have a great idea but need specific resources to launch,” Shackelford said. “And our region’s largest companies like Sprint, Hallmark and Cerner are part of our program, giving our entrepreneurs access to invaluable knowledge and contacts.”
Digital Sandbox KC has collaborated with more than 160 companies and funded projects for 37 tech startups since launching in February 2013. It has assisted young companies in such fields as health care IT, data security, creative mobile apps, big data, consumer products and technology platforms.
The Digital Sandbox was launched thanks to a $1 million federal i6 Challenge Grant, and that money has now been spent. The program’s leaders are engaged in fund-raising efforts so they can continue to assist startups.
“The secret to Digital Sandbox’s success is the broad range of resources we’ve been able to engage with these startup companies,” said Maria Meyers, CEO of KCSourceLink, a program of the Innovation Center at the University of Missouri-Kansas City, which helped Kansas City win the i6 grant.
“It starts with the evaluation of the innovations and then matching all of them to resources that can help them take the next step. We help the founders really focus on the barrier to progress, and then help them figure out how to overcome that challenge.”
