A chat with entrepreneur Jud Gostin

The first feature interview in our “Region of Entrepreneurs” series with The Central New York Business Journal is with an exited entrepreneur. Across upstate New York, there are entrepreneurs who have grown a successful business, and in many cases, more than one business. Sometimes referred to as “serial entrepreneurs,” these are businesspeople with the ability to see the potential for growth and recognize the rich resources available help reach their goal. Jud Gostin is an entrepreneur that has found great success in upstate New York.

Gostin currently serves as chairman of 3Pound Health, LLC. He is also the CEO of Aspen Hollow Ventures LLC, a firm investing in and helping develop high-tech startup and fledgling companies. Gostin recently retired as president, CEO and board chairman of Sensis Corporation (now called Saab Sensis), a firm he founded in 1985. Through his leadership and direction, Sensis grew into a market leader of sensors and information technology for the world’s militaries, civil-aviation authorities, airports, airlines, and medical-equipment companies.

We asked Gostin about his experiences and insights into building several successful businesses in upstate New York.

Q: You have a successful history in building Sensis over an extended period of time. What is it about upstate New York that allowed you to succeed in building your business over that time period?

A: There are a number of factors underlying Sensis Corporation’s success but, without question, the principal one is that upstate New York was (and is) home to a collection of stunningly talented electronic, mechanical, and software engineers. A number of these people joined Sensis to provide a sustainable competitive edge in the company’s highly technical Defense and Air Traffic Control markets.

Our remarkable engineering talent is a rare and extremely valuable resource that is too often underappreciated and underutilized. Not only is this talent largely responsible for the sustained success of established companies like Lockheed Martin, SRC, Anaren, Inficon and Saab Sensis, and for the growth of numerous younger high-tech companies, it can also enable the success of future high-tech start-ups. Of course, the latter will happen only to the extent that entrepreneurs step up to provide the inspirational vision, innovative strategy, and enthusiastic leadership needed to utilize this talent effectively.

Q: You continue to be active in the upstate New York entrepreneurial ecosystem. You provide mentorship and have made a recent investment in the health-care startup, 3Pound Health. As an entrepreneur, how have you made the switch from sensor and information technology to health care?

A: Although 3Pound Health’s mission is improving wellness more effectively and affordably, its approach is very much rooted in information technology. For me, the big switch was in leaving the world of defense and civil aviation, a world I knew very well, to enter the unfamiliar world of health care. Wanting to remain involved in the growth of high-tech companies — it’s what I truly enjoy — I had no choice but to switch. That is because the terms of my severance agreement with Saab Sensis precluded me from any meaningful participation in defense or civil aviation. But, that was okay because, for a number of reasons, I looked forward to the switch. Without leaving high-tech, I would be entering a market space that is new, exciting, dynamic, and high-growth. It’s also a market that has urgent unmet needs and offers the opportunity to benefit society. The protection I had against the pitfalls of entering an unfamiliar market was an awareness and acceptance of my ignorance, and a recognition of the need to rely upon others who possessed great domain knowledge as well as integrity and sincere interest. Fortunately, I knew a handful of people with these qualities and they agreed to participate.  

Q: If you were a student today at an upstate college or university interested in starting a company, what advantages would you have by staying in the area upon graduation?

A: There are real advantages to starting a company in upstate New York. First, as previously mentioned, the region is home to a wealth of exceptional high-tech talent — those already employed who are looking for exciting new opportunities and others graduating from any of the outstanding regional colleges and universities. An entrepreneur who provides the visionary leadership to attract and effectively focus the available high-tech talent will gain a key ingredient in a high-tech company’s success formula.

Second, over the past few years, the region’s business community has come to realize that its future economic health is highly dependent upon the success of high-tech start-up companies and that this requires an infrastructure that effectively encourages and supports entrepreneurial activity. In fact, to a large extent, this supportive infrastructure is now in place. It includes a number of first and second stage investment groups, a strong mentorship program, and incubators that provide low cost facilities and tax advantages while promoting healthy entrepreneurial interchanges. In other words, today, far more than ever before, in upstate New York, an entrepreneur with a good business idea and the courage to build a company around that idea has access to the funding, mentorship and facilities that improve the likelihood of business success.

 Third, within the region, after decades of economic stagnation, a sense of urgency about the need for the emergence of vibrant, modern, high-tech businesses is clearly discernible. This has led to what, in effect, is a cheerleading atmosphere surrounding entrepreneurs and the companies they form. In other words, entrepreneurial activity in upstate New York is exciting and enjoyable. There are many advantages to being a big fish in a relatively small pond.

Q: Lifestyle options and outlets mean a lot to entrepreneurs. As a fan of outdoor pursuits, what is it that endears you to upstate?

A: That’s easy — lots of lakes for swimming and boating, mountains for climbing, great fishing, uncrowded and affordable golf courses, a handful of family oriented ski areas, numerous running and bicycling clubs, lots of easily accessible state and county parks, dramatic scenic changes through four seasons, and a relative absence of natural catastrophes (i.e., hurricanes, tornados, major floods, earthquakes, and forest fires). Outdoor living is, without question, an attribute of upstate New York that is hard to beat, no matter where you go.

Q: You obviously see value in staying connected to upstate’s entrepreneurial ecosystem. What value do you see in that connectivity and what advice can you give to others interested in participating?

A: I stay involved because I enjoy entrepreneurs and entrepreneurial activity, because of a desire to help a community that has given me so much, and out of a belief that my experience and knowledge can make a difference. For me, staying involved is a blast, and I would encourage other business people to try it. If you’re inclined to do so, and want to know how to go about it, I’d recommend contacting CenterState CEO, in Syracuse. They can connect you with investment groups and startup-mentorship programs looking for additional contributors.

We couldn’t agree more with Jud’s assessment of the region’s burgeoning entrepreneurial community. The great news is that we’re truly at the early stages of the amazing story that is unfolding in here. We would encourage you to get involved in the many opportunities that are available for you to connect. To understand what those opportunities may be, reach out to Seth Mulligan, director of venture development at CenterState CEO at (315) 470-1800 or email: smulligan@centerstateceo.com. We look forward to our next installment in the “Region of Entrepreneurs” series, highlighting another valuable contributor to the success of upstate New York.

Robert M. (Rob) Simpson is president and CEO of CenterState CEO. Contact him via email at: rsimpson@centerstateceo.com. Kyle Blumin is an entrepreneur in residence at Syracuse’s StartFast Venture Accelerator. Contact him on Twitter at @kyleblumin

The first feature interview in our “Region of Entrepreneurs” series with The Central New York Business Journal is with an exited entrepreneur. Across upstate New York, there are entrepreneurs who have grown a successful business, and in many cases, more than one business. Sometimes referred to as “serial entrepreneurs,” these are businesspeople with the ability to see the potential for growth and recognize the rich resources available help reach their goal. Jud Gostin is an entrepreneur that has found great success in upstate New York.

Gostin currently serves as chairman of 3Pound Health, LLC. He is also the CEO of Aspen Hollow Ventures LLC, a firm investing in and helping develop high-tech startup and fledgling companies. Gostin recently retired as president, CEO and board chairman of Sensis Corporation (now called Saab Sensis), a firm he founded in 1985. Through his leadership and direction, Sensis grew into a market leader of sensors and information technology for the world’s militaries, civil-aviation authorities, airports, airlines, and medical-equipment companies.

We asked Gostin about his experiences and insights into building several successful businesses in upstate New York.

Q: You have a successful history in building Sensis over an extended period of time. What is it about upstate New York that allowed you to succeed in building your business over that time period?

A: There are a number of factors underlying Sensis Corporation’s success but, without question, the principal one is that upstate New York was (and is) home to a collection of stunningly talented electronic, mechanical, and software engineers. A number of these people joined Sensis to provide a sustainable competitive edge in the company’s highly technical Defense and Air Traffic Control markets.

Our remarkable engineering talent is a rare and extremely valuable resource that is too often underappreciated and underutilized. Not only is this talent largely responsible for the sustained success of established companies like Lockheed Martin, SRC, Anaren, Inficon and Saab Sensis, and for the growth of numerous younger high-tech companies, it can also enable the success of future high-tech start-ups. Of course, the latter will happen only to the extent that entrepreneurs step up to provide the inspirational vision, innovative strategy, and enthusiastic leadership needed to utilize this talent effectively.

Q: You continue to be active in the upstate New York entrepreneurial ecosystem. You provide mentorship and have made a recent investment in the health-care startup, 3Pound Health. As an entrepreneur, how have you made the switch from sensor and information technology to health care?

A: Although 3Pound Health’s mission is improving wellness more effectively and affordably, its approach is very much rooted in information technology. For me, the big switch was in leaving the world of defense and civil aviation, a world I knew very well, to enter the unfamiliar world of health care. Wanting to remain involved in the growth of high-tech companies — it’s what I truly enjoy — I had no choice but to switch. That is because the terms of my severance agreement with Saab Sensis precluded me from any meaningful participation in defense or civil aviation. But, that was okay because, for a number of reasons, I looked forward to the switch. Without leaving high-tech, I would be entering a market space that is new, exciting, dynamic, and high-growth. It’s also a market that has urgent unmet needs and offers the opportunity to benefit society. The protection I had against the pitfalls of entering an unfamiliar market was an awareness and acceptance of my ignorance, and a recognition of the need to rely upon others who possessed great domain knowledge as well as integrity and sincere interest. Fortunately, I knew a handful of people with these qualities and they agreed to participate.  

Q: If you were a student today at an upstate college or university interested in starting a company, what advantages would you have by staying in the area upon graduation?

A: There are real advantages to starting a company in upstate New York. First, as previously mentioned, the region is home to a wealth of exceptional high-tech talent — those already employed who are looking for exciting new opportunities and others graduating from any of the outstanding regional colleges and universities. An entrepreneur who provides the visionary leadership to attract and effectively focus the available high-tech talent will gain a key ingredient in a high-tech company’s success formula.

Second, over the past few years, the region’s business community has come to realize that its future economic health is highly dependent upon the success of high-tech start-up companies and that this requires an infrastructure that effectively encourages and supports entrepreneurial activity. In fact, to a large extent, this supportive infrastructure is now in place. It includes a number of first and second stage investment groups, a strong mentorship program, and incubators that provide low cost facilities and tax advantages while promoting healthy entrepreneurial interchanges. In other words, today, far more than ever before, in upstate New York, an entrepreneur with a good business idea and the courage to build a company around that idea has access to the funding, mentorship and facilities that improve the likelihood of business success.

 Third, within the region, after decades of economic stagnation, a sense of urgency about the need for the emergence of vibrant, modern, high-tech businesses is clearly discernible. This has led to what, in effect, is a cheerleading atmosphere surrounding entrepreneurs and the companies they form. In other words, entrepreneurial activity in upstate New York is exciting and enjoyable. There are many advantages to being a big fish in a relatively small pond.

Q: Lifestyle options and outlets mean a lot to entrepreneurs. As a fan of outdoor pursuits, what is it that endears you to upstate?

A: That’s easy — lots of lakes for swimming and boating, mountains for climbing, great fishing, uncrowded and affordable golf courses, a handful of family oriented ski areas, numerous running and bicycling clubs, lots of easily accessible state and county parks, dramatic scenic changes through four seasons, and a relative absence of natural catastrophes (i.e., hurricanes, tornados, major floods, earthquakes, and forest fires). Outdoor living is, without question, an attribute of upstate New York that is hard to beat, no matter where you go.

Q: You obviously see value in staying connected to upstate’s entrepreneurial ecosystem. What value do you see in that connectivity and what advice can you give to others interested in participating?

A: I stay involved because I enjoy entrepreneurs and entrepreneurial activity, because of a desire to help a community that has given me so much, and out of a belief that my experience and knowledge can make a difference. For me, staying involved is a blast, and I would encourage other business people to try it. If you’re inclined to do so, and want to know how to go about it, I’d recommend contacting CenterState CEO, in Syracuse. They can connect you with investment groups and startup-mentorship programs looking for additional contributors.

We couldn’t agree more with Jud’s assessment of the region’s burgeoning entrepreneurial community. The great news is that we’re truly at the early stages of the amazing story that is unfolding in here. We would encourage you to get involved in the many opportunities that are available for you to connect. To understand what those opportunities may be, reach out to Seth Mulligan, director of venture development at CenterState CEO at (315) 470-1800 or email: smulligan@centerstateceo.com. We look forward to our next installment in the “Region of Entrepreneurs” series, highlighting another valuable contributor to the success of upstate New York.

Robert M. (Rob) Simpson is president and CEO of CenterState CEO. Contact him via email at: rsimpson@centerstateceo.com. Kyle Blumin is an entrepreneur in residence at Syracuse’s StartFast Venture Accelerator. Contact him on Twitter at @kyleblumin