#StartupsEverywhere Profile: Suzanne Borders, Founder & CEO, BadVR
This profile is part of #StartupsEverywhere, an ongoing series highlighting startup leaders in ecosystems across the country. This interview has been edited for length, content, and clarity.
Making Advanced Data Analytics Immersive and Accessible for all
BadVR’s immersive analytics platform uses virtual reality and machine learning to make complex datasets easier to understand for everyday users. Founder and CEO Suzanne Borders spoke to us about her company, her experience with the Small Business Innovation Research (SBIR) program, and how she navigates varying state laws and regulations as a remote employer.
Tell us about your background. What led you to BadVR?
After graduating from university, I moved to California and started doing freelance graphic design work for punk rock bands. Through that work, I learned how to code in HTML and acquired other tech skills, including UX design. Soon after, I found a job at a company that issued mobile surveys. That was my first taste of designing interfaces for data sites. Then, I started working for a startup called Remine which provides a data analytics platform for the residential real estate industry. While working there, I had the idea of bringing in VR technology to look at the geospatial datasets. It just made sense to make the data more accessible by showing it as it exists in three dimensional space. The hardware at the time was still very brand new, however, so I kept the idea in my back pocket, and went on to another startup called CREXi. Once I started seeing the popularization of accessible hardware in untethered, easy to use headsets, I decided to found my company BadVR along with my former boss, now co-founder, Jad. We founded the business in late 2017 and have been growing ever since.
What is the work you all are doing at BadVR?
We provide clients with immersive data analytics, using AR and VR technology to bring large complex datasets into an environment that makes it accessible for non-technical people. Ultimately, our technology allows average people to do advanced analytics without needing to be trained or without needing to be a data analyst.
What did the process of raising capital look like for BadVR as a young startup?
While a lot of startups raise venture capital, I wanted to try taking a different path for BadVR. I ended up hearing about grants to perform advanced engineering research and development (R&D) through the National Science Foundation (NSF). I knew a couple people who had previously received funding from the NSF, so I thought that might be a way for me to grow my business without having to go down the venture capital route. I applied and ended up receiving the Super Phase I and II grants from the NSF. I also applied for a few other programs and received a Phase I and Phase II grant through the National Oceanic and Atmospheric Association (NOAA). Additionally, I got a contract with the Air Force to look at live data feeds from weather satellites and ended up receiving funding to build augmented reality interfaces for public safety data sets. So most of our growth has been funded through federal grants.
Tell us about your experience with the SBIR grant program. Did you experience any challenges that you think government can dismantle to help startup founders?
I would not have known about NSF SBIR grants and the seed fund if I wasn’t already connected to people who previously received awards. My family happens to be comprised of academics, and they have gone through their own public grant processes. That being said, I’m happy to have seen those programs do more outreach over the past year and a half, which is important and needs to be continued in order to keep raising awareness about their existence.
I would say for me, the Phase I application process was pretty straightforward. It was more challenging for me to understand Phase II. While filling out paperwork, it was challenging to figure out how they wanted the information presented. I was lucky because I knew people that could help me answer the questions, but others might not have that help. And despite that assistance, it was still challenging to figure out: number one, that these grants existed and number two, how to gather the information and submit it in the right format. There should be more guidance on that front. I can't imagine a situation in which somebody who isn't familiar with the process has to navigate it without resources or assistance. Some founders might also be surprised at the level of written documentation that's required after receiving an award. A lot of startup founders don't have an academic background, so they might not be familiar with the necessary requirements tied to grants. I've had a lot of tech people reach out to me who are interested in grants but are not familiar with the constraints associated with them. That's another thing that could be communicated better.
You have employees that are based across the US. Have you encountered any challenges with remote work and/or dealing with varying state requirements, laws, taxes, etc.?
Prior to COVID, I was already a big believer in remote work and I knew when starting BadVR that I wanted to be a remote employer. I think that remote work is great, but going through the process of having employees in different states is really complicated. We use a third-party HR administrative service, which helps us with paperwork that needs to be filed. I also have a CFO who's very good at managing what to do with employees in different states, but there’s still a ton of paperwork and steps involved to enable my staff to live where they want. It takes a lot of time to file forms and quarterly tax estimates. The process is intense, and some states are easier to navigate than others. It runs the gamut, but having a payroll tool helps navigate everything.
What are your goals for BadVR moving forward?
My goal is to continue growing the business. Right now, we’re raising a round of capital to feed our growth. We’re also working on bringing a new product, called See Signal, to market. You put it on your head and See Signal allows you to see radio frequency signal data within the room you're in. We're launching in a couple months publicly. Bringing See Signal to market, continuing to grow the business, and finishing this fundraising round are our big upcoming to-dos.
All of the information in this profile was accurate at the date and time of publication.
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