Sramana Mitra: What’s interesting to me is that you are able to sell six-figure deals without hard ROI to address a perception issue. That’s unique I think. Tim Panagos: It may just be a point in time. Sramana Mitra: The higher the ticket size, the more the need to justify hard ROI. What you’re pointing
Sramana Mitra: To do all this, how much of this is your proprietary technology and how much of it is system integration using other people’s technology? Tim Panagos: Our strategy was to adopt things that were already existing in the market rather than building from scratch. It’s my belief that we intersect with the IoT,
We discuss IoT use cases in commercial real estate and the open opportunities thereof. Sramana Mitra: Let’s start by introducing our audience to yourself as well as to the company. Tim Panagos: I’m the Founder and CTO of Microshare. We’re the market-leading wireless IoT platform built for commercial real estate. Sramana Mitra: Let’s double-click on
Sramana Mitra: It sounds to me like you have very large deals in your pipeline. At some level, $5 million may be the only money you need to build this business. Timothy Menard: Absolutely. The mindset was to build a company and be revenue-generating. Having these large contracts that pay 90% of the contract value
Sramana Mitra: Santa Clara was the first that adopted your technology? Timothy Menard: San Jose was first. Sramana Mitra: Let’s go into the mechanics of how you built the company from a financial engineering point of view. The first grant was $250,000. You got a second grant because of the discussions with Santa Clara and
Sramana Mitra: Was there a customer that you had in mind? Timothy Menard: All sides – automotive and the communities they drove in. Sramana Mitra: How did you get the company off the ground? Timothy Menard: I applied for a Federal Small Business Research and Innovation grant. The company started on a quarter-million grant. I
You would think deep tech AI / IoT startups take gobs of venture capital to build. Read on to see how Tim has built an incredibly capital-efficient business with massive growth potential using grant money and revenues. Superb company! Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from, born,
Sramana Mitra: What is the level of adoption of the kind of end-to-end solutions you’re talking about at the city or state level? Ariel Stern: Not that high. Some cities or municipalities are very advanced. They have a strong leadership team. They have a strong appetite for innovation. They understand that digital innovation is key