Publisher’s Note: ABD is continuing its 7-part series today on entrepreneurs vying for $500,000 in seed money.
Venture Lab Aiken (VLA) is part of the chamber’s Innovation Corridor.
It’s organized by the Aiken Chamber of Commerce, Make Startups in theClubhou.se in the Georgia Cyber Innovation and Training Center (GCITC) and the South Carolina Research Authority.
The importance of engaging students of all ages in STEAM (Science, Technology, Engineering, Arts, and Math) education is at the heart of one product in the inaugural cohort of Startup Summer.
Katrina Ford is the founder and CEO of Expedition STEAM Adventures.
“We’re a hands-on science and art company, and we are specifically developing Barnwood Hall, which is a literacy-based STEAM adventure,” she told ABD. “Kids read the story, and then in the book do the adventure, solve the mystery, and then they’re able to do the exact same thing in real life. There’s nothing on the market like this at this point.”
Ford’s background as an educator and librarian who worked in communities coast-to-coast gave her the opportunity to see how children engage in this digital age.
“I’ve one of the big things that I’ve seen is that the more digital that we get, the less kids are able to do social things and emotional things, and there’s this big disconnect. I decided to solve this problem, and so Barnwood Hall Mysteries was born out of this,” she explained.
As part of the cohort, Ford committed to attend weekly roundtable meetings held for the group. The virtual startup incubator provides access to mentorship, training, and real-world tools to make ideas become successful businesses.
But Ford also found another advantage to being part of the group. An advantage mentioned by other members.
“When you’re doing something like this, it can be very isolating,” she noted. “But when you are with a group of people, you’re held to a different form of accountability, but also encouragement as well. It’s been what I needed to do to make sure that I’m on track. A lot of us are still working our day jobs, so it’s trying to fit in our launching our ventures, which is a whole thing in itself.”
The companies met with members of the Angel Magnate Group that has committed $500,000 of capital to distribute among the companies. It is designed to be seed money for the companies in their next development steps.
“Our seed money is invaluable,” said Ford. “It’s a tough economy right now, and so being able to have access to seed money and to the resources that Venture Labs is able to provide can offset costs that are associated with our business. Even if it is small, it makes a big difference.”
The funds will be distributed as a SAFE Note, which is “Simple Agreement for Future Equity.”
“Which basically says your company is so early stage right now, none of us know what it’s worth, but we’re going to go ahead and give you some capital, so that when you succeed and you raise capital, where we know what the value of your company is, our money will convert to equity at that point,” Eric Parker, co-founder of Make Startups, explained for ABD.
Her website maps out what students and their parents can expect from the program.
“Our offerings span home, school, and community settings and are designed for curious minds ages 4–12. At the heart of Expedition STEAM Adventures is a belief that children learn best through story, exploration, and hands-on discovery. Our products and programs are designed as connected learning experiences, inviting young learners to investigate, imagine, and engage deeply with the world around them.”
You can explore Ford’s project online at www.steamadventurer.com/.
