Four months ago at the Spring 2015 Velocity Fund Finals the Velocity Science company Black Box Technologies, now named Arylla, won $25K.
Arylla is developing anti-counterfeit solutions that use recent advances in nanotechnology to deliver unprecedented levels of security.
Perry Everett, CEO of Arylla, gave Velocity some insight into his Velocity Fund Final (VFF) experience and how the prize money is helping the company progress.
1. How has Arylla developed since winning VFF S15?
We have done a lot of work around structuring the business. We recently incorporated and are currently working on drafting all of the basic legal agreements that must be in place. We have also brought in some new volunteers to help us with the image processing aspect of our technology.
2. What is Arylla currently working on?
We are currently working on putting the finishing touches on our first series of inks, and exploring different ways of applying the inks to different materials. We are also in the process of building a scanner for large scale applications. We plan to have a functioning prototype early next year.
3. What do you enjoy most about building a startup?
The best part about running a startup is the ability to have complete control over the technology you’re developing. Although this can be very stressful, it provides a level of freedom that us truly unique to entrepreneurship. Ultimately, you get to work on concepts that you find interesting to solve problems you are passionate about.
4. What was your most memorable moment of VFF?
The pitch. It was extremely exhilarating to pitch our idea to a crowd of people who are excited about entrepreneurship and technology. The opportunity to pitch and get feedback from a group of veteran entrepreneurs make for an unforgettable experience.
5. What did you like most about competing in VFF?
What I enjoyed most about competing in the VFF was the support that I got from everybody in the community. All of the people whom I had asked advice from were always happy to give their input. I also got great feedback from people who were also competing in the $25K. This kind of supportive community makes the event very collaborative and a lot of fun.
6. Are there any tips you can give the startups pitching at VFF?
I think the biggest tip I can give to people is to practice incessantly. Pitch to anybody who is willing to listen. It takes an incredible amount of work to to create a refined pitch, and there is an amazing support network at your disposal, so use it!
7. Any lessons you would like to share with other startups?
I think the lessons learned from VFF will be different from every company. One lesson that we learned the hard way is to be realistic about the stage of your company. After winning the VFF, we received some opportunities that we just weren’t ready for, and I think it took us longer than it should have to realize that.
Cheer on the five Velocity Science teams competing for $25K tomorrow at the Fall 2015 Velocity Fund Final. Be part of the audience or watch the event online via the livestream.