SYRACUSE — Started with $25,000 and three partners in 2001, Bankers Healthcare Group (BHG) has reached a valuation of $1 billion, according to its top executive.

Along the way, the three partners have sold 49 percent of the business, but held onto the remaining 51 percent, explains Chairman and CEO Albert (Al) Crawford.

The company’s growth was underlined in 2015 when Pinnacle Financial Partners, a Nashville, Tennessee–based bank with more than $20 billion in assets, bought 30 percent of BHG for $75 million, effectively valuing the company at $250 million.

Just one year later, Pinnacle bought another 19 percent for $114 million, more than doubling the company’s value to $600 million.

Sitting in his office on Solar Street in Syracuse, Crawford explains that in the three years since, BHG has continued to grow, hitting a valuation of $1 billion on annual revenue between $160 million and $170 million in 2017.

And he sees much more growth on the horizon.

BHG has gotten where it is by supplying loans to health-care professionals — doctors, dentists, and veterinarians from the start, adding nurse practitioners, pharmacists, physical therapists, and physician’s assistants more recently.

The loans, which average about $100,000, but can be as much as $500,000, are then sold to banks. 

The company’s loans have been attractive to those in the health-care field because BHG makes it easy. Borrowers don’t have to take time to go to the bank, they don’t have to dig up old financial records, and they don’t have to answer a lot of questions, Crawford contends.

Instead, they can go online and apply without leaving the office, give BHG permission to access the necessary financial records, and hear back about the loan in 24 to 48 hours. If they choose to go forward, they get the money within a week — and can get it in as little as 72 hours, Crawford says.

Demand for BHG’s loans is driven in part by the fact that health-care professionals often start out burdened with tens of thousands of dollars in student loans, sometimes hundreds of thousands in student loans, Crawford notes. 

“Society puts them in a very tough space,” he says.

Those debts leave some health-care providers with low credit ratings, credit scores far below what one might assume, Crawford says. BHG has been actively developing financial technology to be able to ascertain the real risk presented by these types of borrowers, he says. It has hired credit analysts from some of the largest banks to help it better understand which borrowers are better risks.

The company’s 15 credit analysts look to see what differentiates someone who has struggled with debt but ultimately works through it, from someone who files for bankruptcy. And they look to see who may have filed for bankruptcy but is rebuilding their credit and has earned an opportunity.

Then, Crawford says, the interest rate is set to reflect the risk and leave room for BHG to profit. 

To reach health-care professionals, BHG markets heavily across all sorts of platforms. A doctor may hear from BHG two dozen times before clicking on the company’s website, Crawford notes. 

Clients who go forward with loans, and those who don’t, may be offered BHG’s credit card, offered through Pinnacle Financial Partners, a product BHG has had since 2014. The card has more than 17,000 users, Crawford says.

From the start, funding the loans made by BHG has meant building relationships with banks. Crawford traveled the country meeting with bankers whose balance sheets needed to be diversified. Early on, he found strong demand among banks that had too large a percentage of total lending tied up in agricultural loans. Taking on loans to medical practitioners gave these banks a more diversified mix of assets.

Over the years, BHG built up a network of banks to which it could sell the loans. Today, Crawford says BHG has more than 850 banks it turns to, auctioning off somewhere between $2 million and $3 million in loans each day. “We don’t need Wall Street,” Crawford says. “We developed our own Wall Street.”

Further, Crawford says BHG has never stuck the banks with a bad loan. If worse comes to worse, BHG can collect on the loan with its in-house operation.

BHG’s network of banks plays a role in Crawford’s plans for future growth. He says the banks could be turned to as buyers for all sorts of loans. “It’s a marketplace,” he notes.

And, it’s a marketplace BHG expects to engage as it expands its product offerings. BHG is moving toward providing loans for medical procedures. These are loans not to health-care providers, but to their patients. It is a $400 billion-a-year market, says Crawford, and he wants BHG to be the No. 1 player in the space within five years.

Handling growth has been a continuing challenge for BHG. Crawford says the company has hired 100 people in the past six months, 60 just since Jan. 1. Today, the company has 367 employees. Of those, 167 are in Syracuse, 34 in New York City, and the remaining 166 at the company’s corporate headquarters in Davie, Florida.

While Crawford works from the Syracuse office at 201 Solar St., his fellow original founders, Robert T. Castro and his brother Eric R. Castro, work from the Florida headquarters, handling loan origination, and funding, human resources and IT. The Syracuse office is the company’s financial headquarters, handling credit underwriting, accounting, collections, bank sales, and marketing.

Locally, BHG has been forced to spread out to find space for its growing number of workers. They can be found at the Solar Street headquarters, at a former fire station across the street, and at a converted mill within walking distance.

The work spaces are modern and the local headquarters is airy with windows throughout to make the most of natural lighting. Crawford notes that Central New York’s often short days and cloudy skies make windows a practical choice.

He adds that the darkness and cold weather are, in some ways, a plus: “You might as well be working.” In turn, when the weather is lovely on a Friday in the summer, the company urges managers to let people leave early, he says.

Added perks for workers include a snack and coffee bar in the main office and a 2,500-square-foot gym with a high-tech golf simulator. The dress code is casual most days and on an early spring day, Crawford worked in shorts and a T-shirt, coming directly from the gym.

Intertwining his discussion of the company with business philosophy, Crawford says he and others in the company read a great deal. Recently, they’ve been reading Daniel Coyle’s “The Culture Code.” It’s about what it takes to keep companies performing at the top level.

For Crawford, part of the culture that has driven BHG’s growth and that he expects with continue to drive its success is an overriding sense that there is more that needs to be done, challenges that need to be faced now. “Urgency,” he says, “from Day One we’ve worked with a sense of urgency.”      

In late May of next year, the world’s best professional golfers who are age 50 and over will gather near Rochester for the 2019 KitchenAid Senior PGA Championship. Names like Bernhard Langer, Vijay Singh, Steve Stricker, Colin Montgomerie, Kenny Perry, Jerry Kelly, and Miguel Angel Jiménez are expected to be there.

The PGA of America announced almost a year ago that it had selected Oak Hill Country Club in Pittsford to host the 80th edition of the tournament on its famed East Course, the site of many past spectacles of golf.

The 2019 Senior PGA Championship is expected to draw 50,000 to 60,000 spectators, including more than a few Central New Yorkers, and generate a more than $40 million economic impact on the greater Rochester region, according to the Greater Rochester Enterprise (GRE), a regional economic-development organization.

While on the surface May 2019 seems a long way away, it’s not for Bryan Karns, championship director. He’s been on the ground in Rochester since last August, working on the massive logistical puzzle that is organizing a championship golf tournament. He works out of an office at Oak Hill.

Karns, an Oklahoma State University graduate, stopped by the CNYBJ office in Syracuse on Friday, April 6, to discuss the event and all that goes into planning it.

“I think when you imagine what goes into having you know, 50,000 to 60,000 people on a golf course, that 99 percent of the year is meant to be kind of private and reserved … That’s a tremendous undertaking,” he says. “The primary reason we’re on the ground is to build the relationships with people in the community.” 

The logistical tasks include figuring out how many concession stands to put on the ground, where to put the corporate hospitality tents, and setting the bus traffic plan and parking plan with the Monroe County Sherriff’s Department. “Even though we have a blueprint there from running events at Oak Hill in the past, things change,” Karns says.

This will be the second time that Oak Hill will present the four-day Senior PGA Championship — it’s a nearly weeklong event including practice rounds. In 2008 at Oak Hill, Jay Haas, of the United States, claimed his second Senior PGA Championship in three years by a single stroke over Germany’s Langer. 

Oak Hill’s East Course has also staged three previous PGA Championships (2013, 2003, 1980) and will do so again in 2023 for a record-tying fourth time, according to the PGA of America.

Taking on the task of selling corporate sponsorships, including all the hospitality tents, is another big focus now for Karns and his team.

“Because a lot of them have a big price tag, we like to give companies the ability to spread [the payments] out,” he says. “People aren’t going to do that a week out and say. ‘Oh yeah sure, we’re going to drop 25-grand on a hospitality venue.’ So, we start those relationships now and try to walk people through that.”

Recruiting volunteers to staff the tournament, including scorers, course marshals, and people to staff the spectator stands, concession stands, and merchandise tents is another key task. 

“Even though the support is tremendous, and we feel it’s not going to be a big struggle for us… to get 1,500-1,600 volunteers, that’s a lot,” Karns says. He noted the 2013 PGA Championship at Oak Hill had close to 3,500 volunteers.

Regional approach

Karns and his staff of three other PGA of America employees currently in Rochester are taking a regional approach to marketing the Senior PGA Championship.

“Traditionally it is kind of a drive-in event. It’s a regional thing. People in Syracuse will come to Rochester just like lots of folks in Rochester will come to Syracuse [University] games,” Karns says. He did it himself last fall, taking in the Syracuse-Clemson football game, his first trip to the Carrier Dome.

Karns and his staff will start outreach efforts in Rochester, then build out. They have an extensive database, about 75,000 to 100,000 people who bought tickets, bought corporate hospitality services, or volunteered at a past PGA Championship event at Oak Hill.

“Probably the large majority of the corporate sponsors will be from Rochester, but we have a lot of interest in Buffalo, and we’ve talked to a number of companies in Syracuse,” he says.

“It’s an easy drive over. It’s a great opportunity to see the greatest golfers in the world,” Karns says in his pitch for Syracuse golf fans to make the drive to Rochester for the tournament.

On Monday morning, April 9, the PGA of America sent an email to its database of 75,000 to 100,000 people offering an exclusive window from April 9 to May 29 to buy tickets and to sign up to volunteer for the 2019 Senior PGA Championship. On May 29, they open it to the general public. 

The PGA’s marketing efforts will pick up this summer and build into next spring.

The logistical lift will also increase. As the tournament approaches, Karns’ staff will grow to 10 and more PGA of America staffers will fly in for the tournament starting two weeks out.

Then there’s the vendors. “The folks that do the tent building, the bathrooms. They’re all from independent companies that we contract with for the event. And usually that’s another 150 or 200 [people] starting roughly six weeks out that will show up in Rochester. And probably by the event week, you’re up closer to 500 people” including caterers and concession stand operators, Karns explains. 

HOMER — Cayuga Medical Center (CMC) of Ithaca and the Family Health Network (FHN) of Central New York, Inc. started working on a plan for collaboration in 2017.

Since last fall, a joint team from FHN and CMC have spent “countless hours meeting with that common goal of improving patient care” in Cortland and surrounding counties, John Rudd, president & CEO of Cayuga Health System, said in an April 6 press conference announcing a formal collaboration agreement between the two institutions. Cayuga Health System forwarded a video file of the news conference to CNYBJ. 

“Specifically, FHN patients are in need of specialty services that Cayuga Medical Center provides here in this community, including cardiology, neurosciences, oncology, orthopedics, and so many more. At the same time, patients across our shared-service are in need of additional primary care, and this aligns wonderfully with all the services and the skill sets that FHN has around primary care,” Rudd said.

The two organizations said they plan to collaborate “to advance clinical care throughout the region.”

Both organizations will “continue to operate independently and engage in other projects with regional partners, but will collaborate on clinical services, regional planning, and community outreach,” according to a joint news release.

“Our newly constructed collaboration agreement will allow FHN and Cayuga Medical Center to closely integrate clinical and programmatic approaches, while still remaining independent. By working together, we believe that we can improve access and health-care services to the patients that jointly serve throughout the region. This initiative will strengthen both organizations,” Walter Priest, president & CEO of Family Health Network of Central New York, said at the news conference.

About their collaboration

The clinical collaboration will “improve access and clinical continuity” for Family Health Network patients seeking specialty services at Cayuga Medical Center for cardiac, neurology, neurosurgery, oncology, and orthopedic services. 

In addition, Cayuga Medical Center will be able to work with Family Health Network to help patients without a primary-care provider locate one within FHN or another organization, “depending on patient choice.”

The initiative will also help both organizations in managing the health of the shared patients through collaboration on care, sharing patient information, and linking in wellness services to “sustain” good health and control cost. 

About the organizations

Cayuga Medical Center is part of the Ithaca–based Cayuga Health System, which also includes Schuyler Hospital in Montour Falls in Schuyler County.

The Ithaca facility is also clinically linked to the University of Rochester Medical Center for neurological care; Rochester Regional Health System for cardiac care; Roswell Park in Buffalo for cancer treatment; and Mayo Medical Laboratories for laboratory work. The Mayo Medical Laboratories are part of the Rochester, Minnesota–based Mayo Clinic. 

Family Health Network of Central New York is a federally funded, nonprofit community health center, according to its website. FHN currently has 104 employees, including 15 who serve as either physicians, nurse practitioners, or physician assistants, Kate Alm, FHN’s chief growth officer, tells CNYBJ.

Established in 1972, the Family Health Network includes the organization’s administration office in Homer, Cortland Family Medical Office, Pediatric Family Practice Health Center, Cincinnatus Health Center, Marathon Health Center, and Moravia Health Center, the website says.       

CANTON — St. Lawrence University recently announced it has again earned national recognition for its achievements in several areas of sustainability. 

The university received a rating of “silver” from the Association for the Advancement of Sustainability in Higher Education (AASHE) based on its score in the Sustainability Tracking, Assessment and Rating System (STARS), according to a St. Lawrence news release. 

STARS is a self-reporting framework for colleges and universities to measure and compare their sustainability performance across several areas using a common set of measurements and data. Various publications, such as Sierra Magazine’s “Cool Schools” and The Princeton Review’s Guide to Green Colleges, as well as organizations interested in pursuing sustainable campuses use the information to list and rank the sustainability efforts of participating universities and colleges.

St. Lawrence received its highest marks in the areas of coordination and planning, diversity and affordability, and academic research for the number of faculty and students who are looking into issues of sustainability, the release stated. In the area of diversity and affordability, St. Lawrence scored an 8.36 out of 10 for having a diversity and equity committee, office and/or officer; for assessing diversity and equity; for supporting underrepresented groups; and, for the university’s affordability and access.

“Academic efforts and sustainability planning have distinguished St. Lawrence University from the start of our sustainability journey,” Ryan Kmetz, the university’s assistant director of sustainability and energy management, said. “We have embraced sustainability as a core value at this institution, and we are proud to have our efforts recognized by AASHE — and to receive our STARS Silver rating.”

St. Lawrence had also received a rating of silver in 2013, although, according to Kmetz, several of the survey questions and categories have changed significantly since then. 

In 2015, St. Lawrence finalized a long-term operating agreement for clean hydroelectric power with Gravity Renewables. The dam has been generating renewable electricity for St. Lawrence since 2016. St. Lawrence also receives 65 percent of its electricity as certified renewable wind-energy credits through its electrical supplier.

Kmetz said the Office of Sustainability has been collaborating with the Campus Committee for Sustainability and Climate Neutrality to develop a new climate action work plan.

“This plan provides measureable sustainability targets for the University while also providing it with an outline for progress toward achieving a STARS gold rating,” Kmetz said. “It allows us to effectively address two goals simultaneously.”

Founded in 1856, St. Lawrence University is a private, independent liberal-arts institution of about 2,500 students located in Canton. 

SYRACUSE — The Ice Cream Stand is preparing to open in a new 1,250-square-foot, first-floor space at 200 West Water St. inside the Amos Building, across from Clinton Square in downtown Syracuse.

The small business should open later this month, says Amanda Hughes, owner and operator of the Ice Cream Stand, who spoke with CNYBJ on April 10.

“I’m so excited about this space,” she says. “I love living downtown and it means a lot to be able to bring the business downtown as well.”

The Ice Cream Stand previously operated in an 800-square-foot space at 7265 Buckley Road in Clay, next to CoreLife Eatery. Hughes opened the business in April 2016

Some friends and even members of the Downtown Committee of Syracuse, Inc. had reached out to her about the Amos Building space, says Hughes, noting that she wasn’t looking to expand or move at the time.

“When I walked into this space, I saw everything that I wanted for the future of the business, and it just seemed to make sense,” says Hughes. 

When asked if the summer-weekend activities and festivals in and around Clinton Square were a factor in her decision to move the business there, Hughes replied, “Yes, it definitely was … We were really excited about all the foot traffic.” 

Hughes also notes that as a downtown resident, she enjoys the summertime festivals, and is “really excited” about the chance to be part of those as a business owner.

The business will be open seven days a week for most of the year, but could cut back to five days a week during the winter months. 

She plans to start the downtown location with 10 part-time employees and will hire additional staff as needed.

“I certainly hope we’ll need more than 10,” Hughes says with a smile and chuckle. 

Hughes rents her space in the Amos Building from developer Mark Congel. Contractor Mike LaFrance helped prepare the space for business and the work started last fall, according to Hughes. She declined to disclose how much it is costing to open her ice-cream business in the new space.

The Ice Cream Stand will serve ice cream from suppliers that include Upstate Farms and Skowhegan, and Maine–based Gifford’s Famous Ice Cream. 

The Ice Cream Stand will offer soft serve ice cream, vegan, and dairy-free alternatives. It’ll also offer hard ice cream by the scoop, shakes, floats, flurries, as well as some baked goods. 

The business has a website, which remains under construction with links to its social-media channels at the bottom of the page.

Owner’s background

Hughes’ family has a history in the food-service business. She says her grandparents, George and Lee Gelsomin, were the owners of the Sweetheart Market that once operated at the corner of Route 11 and Taft Road in the town of Clay. The iconic heart-shaped sign bearing the phrase “Sweetheart Corner” still remains.

Hughes graduated from Cicero-North Syracuse High School in 1999. She later earned her bachelor’s degree in sociology from Duke University in 2004. Hughes also earned her MBA degree from Long Island University-Brooklyn (LIU-Brooklyn) in 2013. 

After graduating from Duke, Hughes served as an executive assistant at the Reznick Group (now Cohn Reznick); an athlete recruiter with Redondo Beach, California–based Velocity Sports Performance; an assistant women’s lacrosse coach at Davidson College in North Carolina; a graduate assistant women’s lacrosse coach and an assistant women’s lacrosse coach at LIU-Brooklyn; and served as a marketing intern with the New York Liberty of the Women’s National Basketball Association at Madison Square Garden, according to Hughes’ LinkedIn page.

She eventually returned to Central New York.

SYRACUSE — Emergency room visits can be costly, even for people with good health insurance, says Michael Ehrhart, so it makes sense to use urgent care or even a pharmacy’s clinic if you can.

“The hospital doesn’t want you in the emergency room if you aren’t critically ill. You don’t want to be there because of the wait and cost. There are alternatives,” he says.

Helping patients find those alternatives was part of the motivation behind the creation of Welloh, a mobile app that provides information about hospitals, convenient care facilities, and pharmacies using a smartphone’s GPS-determined location.

“It’s kind of like Yelp for urgent care,” Ehrhart says.

Ehrhart and partner George Smith, II have decades of experience in the medical device field. Ehrhart was with Welch Allyn, as chief technology officer. Smith was in business development with Welch Allyn and also was an adjunct professor at Syracuse University’s law school. They both worked at Hand Held Products, the medical device business sold to Honeywell in 2007.

In 2015, the two teamed up to create Watch Hill Solutions, a technology startup. The Welloh app is the company’s first product.

The app was launched in December 2017 and has been downloaded by hundreds of users from the Apple App Store and Google Play, Ehrhart says. 

Smith and Ehrhart say the app is being developed and improved as they see how people are actually using it. Noticing that users would download the app, but rarely turn to it, they added daily tips to give users a reason to engage the app, even if they didn’t need immediate medical care.

If they do, the app provides a list of hospitals, urgent care centers, and pharmacies within 33 miles.

Along with the address and a link to directions, each listing comes with a star rating.

At this point, those star ratings are based on public reviews found on Google. Smith and Ehrhart say they want to add feedback from Welloh users and eventually just depend on the app’s users for all ratings.

They also want to expand the types of facilities included in the app. Ehrhart explains that when patients see a doctor and is told to get a blood test, X-ray, or other follow-up work, they must decide where to go.

That’s a decision that used to be made for patients, he says. They’d go down the hall in the doctor’s office or maybe to a lab or imaging center the doctor recommended. Now the choice is theirs.

But, Ehrhart asks, how do patients know which lab or imaging center to use? It matters, he says, because the cost difference between a free-standing center and one that is part of a hospital can be a factor of 10.

Smith and Ehrhart say they would like to add out-patient surgery centers as well, giving consumers information they could use to choose between different centers and local hospitals that provide the same procedures.

Costs are more important than ever before for health-care consumers, Ehrhart says, because high-deductible health-insurance policies mean individuals are finding themselves responsible for paying the first part of many health-care bills. “Because of high-deductable plans we think people will be looking for options to keep out-of-pocket costs down,” he says.

But the target audience for Welloh isn’t just cost-conscious consumers. Travelers are a prime group for whom the app would be handy, Smith and Ehrhart say.

They picture someone visiting a new place suddenly finding themselves in need of medical attention. For them, the app with its ratings and directions would remove a lot of the mystery.

That opens a marketing opportunity for the app as well, the two say. Conventions, fairs and other large gatherings could recommend visitors download the app to make their visit less stressful. 

“Picture 40,000 bowlers with the app,” Smith says, referring to the United States Bowling Congress (USBC) tournament being held in Syracuse this year.

Human-resource professionals could be helpful in making people aware of the app, the two men say. When employees need to make a health-care spending decision, HR people could suggest the app as a way to make the employees more aware of their choices.

Likewise, parents are a prime target, what with the number of scrapes, bruises and more serious injuries active children suffer. That doesn’t just apply to small children. Smith and Ehrhart say the app has found acceptance among college students.

As more people use the app and provide reviews of the providers they encounter, Smith expects the app to grow more useful. “A few million users and this is the health-care magazine. Welloh becomes kind of a trusted adviser,” he says.

Regarding trust, the two say the app shares only the user’s location, when it searches for information. All other information remains private, they say.

Ehrhart and Smith launched the app with help from angel investors, a Rochester firm called Scriptable Solutions that wrote the program, and online market research that showed interest in the information the app could provide.

The only income stream from Welloh at this point is advertising, though they may add a premium version in the future, they add.

Smith and Ehrhart are now focusing on getting more people to learn about Welloh, utilizing social media and online ads. Ehrhart says the goal is to reach 10,000 users by the end of the year and 5 million by the end of 2020.

Beyond that goal, Ehrhart says, “our big ambition is to help make patients more like consumers.”

SYRACUSE — The firm that won the $1 million grand prize in the second installment of the Genius NY business-accelerator competition plans to use the funding to “accelerate” its operations.

That’s according to Christopher McCall, CEO of Fotokite, who spoke with CNYBJ following the April 9 awards ceremony in Syracuse.

The prize will help “…build the presence here, to move faster toward real-world solutions in this space. We’re all about trying to get to the application and try to get to the real end-users and customers and help them in their missions,” says McCall.

Fotokite, a firm based in Switzerland, was one of six Genius NY finalists that competed during the competition’s pitch night held April 9 at the Marriot Syracuse Downtown.

Fotokites are tethered drone systems that work like a 200-foot tower, “flying fully autonomously and deploying with the push of a button,” according to a description in the event program. Fotokite provides firefighters and fire departments with a “live aerial situational awareness tool to help them save lives and preserve property,” the description said.

Fotokite currently has 14 employees, including one in Syracuse, according to McCall. Most of its workers focus on research and development in Switzerland. Fotokite wants to assemble a sales and business-development team and manufacturing for a U.S.–made product.

“That’s exactly the mission that we came over here [for] and participated in the Genius NY program to achieve,” says McCall.

Genius NY stands for Growing ENtrepreneurs & Innovators in UpState New York.

The initiative is “one of the world’s largest business competitions focused on unmanned systems, cross-connected platforms and other technology-based sectors,” according to the office of Gov. Andrew Cuomo.

Genius NY, a year-long business accelerator, awarded six finalist teams a total of nearly $3 million at the pitch event. The awards included prizes of $1 million, $600,000, $400,000, and three $250,000 awards. 

Participants are required to operate their business in Central New York for at least one year. 

Empire State Development Corporation, New York’s primary economic-development agency, supports the Genius NY program. 

Other winners

In addition to Fotokite, Quantifly was awarded the second place prize of $600,000; TruWeather took third place, winning $400,000; while three finalists, UsPLM, Dropcopter, and Precision Vision all were awarded $250,000. TruWeather was also named the crowd favorite in a live poll taken during the event.

Besides Fotokite, CenterState CEO provided the following descriptions of the additional finalists selected for Genius NY 2.0.

• UsPLM of Syracuse “provides a collaborative environment for all stakeholders” to develop, test, deploy, and safely operate a single or a fleet of UAS. UsPLM can integrate UAS, Internet-of-Things (IoT) and product lifecycle management (PLM) technologies, “which is missing in the current UAS ecosystem.”

• Dropcopter of California is an agriculture technology startup that has developed patent-pending technology to allow farmers to pollinate orchards via drones. The recent decline of bee populations has raised pollination prices “significantly, creating a compelling” market for alternative technologies such as Dropcopter.

• Precision Vision of New Mexico creates image-processing technology that makes real-time precision imaging an “affordable reality.” Precision imaging locates each pixel at a known 2D or 3D referenced location in every image. The company says it has “unique” software and knowledge to provide “low-cost, real-time” precision imaging to open new markets.

• Quantifly of Michigan is an IoT product that “simplifies and reduces” the costs of parking and traffic studies through the unification of UAS, machine vision, and analytics by “eliminating human error, mitigating safety risks, and centralizing harvested data.” It is the “first to market,” and the firm’s product aims to be the “quintessential” app for urban planners focused on smart-city applications and sustainability.

• TruWeather of Virginia is building a service to “improve” the precision, accuracy and communication of weather intelligence specifically for the UAV enterprise. The company will develop, commercialize and market the unmanned aerial vehicle (UAV) weather risk management service for beyond-line-of-sight (BLOS) UAV operations and offer it as a SaaS (software as a service) business.