“We are out to help people in a way that has a low environmental impact—and make money.” —Carl Dietrich, Jump Aero
Force to create a prototype electrical aircraft for first responders. The reason for focusing on rural areas is that response times in these areas are generally longer, which can make the difference between life and death. Jump Aero also met MSIV’s investment criteria in that it had already gotten funding from other investors, Dietrich says. Also, Kushel “was drawn to a noble mission. We are out to help people in a way that has a low environmental impact— and make money,” says Dietrich, who is an MIT graduate and led the flying
The investor says that if there are more jobs with higher-paying, exciting companies, the children of established older residents might be able to return to the North Bay and get good jobs. “I’m passionate about making money and helping people at the same time,” Nelson says. At present, the target investment of the fund is roughly $350,000 per company, according to Kushel. “It could be slightly less or more, but our sweet spot is $350,000 in the seed stage of financing.” There are many startups in Marin and Sonoma that receive angel funding or seed money from venture capital firms, says Mike Blakeley, chief executive officer of the Marin Economic Forum.
car company Terrafugia from founding through acquisition. Like Jump Aero, the mission of Harburg’s startup, PairUp, is to help people—in this case, employees at a given company. When a team member at a company doesn’t know how to solve a problem and doesn’t know who to turn to, PairUp’s software can help them identify and connect with the teammates and documents with the answers. Also, like Jump Aero, the company has received funding from other firms in addition to MSIV. As she wound up her NEXT 2023 presentation, Harburg said, “We think connections shouldn’t be left to chance. This is where technology can connect people—and then let humans be humans.” As the presentation concluded, the room rocked with applause and a few “woo-hoos!” “People were really responsive,” Harburg says. “I got lots of eye contact and it was great afterward to talk to people. It was a great reception.” g
“I don’t know that they [MSIV] are the only venture capital firm that is funding startups in the North Bay, but they are the only one that has that as their mandate,” says the chief executive, who has over 20 years’ experience working in the public and private sector. Another unique element is Marin Sonoma Impact Venture’s focus on the personal side of business. The cofounder of Petaluma-based Jump Aero, another company receiving MSIV funding, says Kushel found the company attractive because it focuses on saving lives. “We are making an electric aircraft technology that can dramatically reduce the emergency response times in rural areas,” says Carl Dietrich, president and chief designer of Jump Aero. Dietrich founded the company with Jeff Myjak and Katerina Barilov. The company is working with clients including the U.S. Air
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36 NorthBaybiz
September 2024
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