3 Idaho tech startups find success

In the words of Jay Larsen, founder, president and CEO of Idaho Technology Council, “Idaho is doing extremely well, really having a vision with respect to applied research and development.” That set the tone for the nonprofit’s 2023 Vision Idaho event Jan. 19, where guest speakers, industry stakeholders and interested community members gathered virtually to hear of local successes in the sector and a look ahead at the industry in Idaho.

Pitch Aeronautics, Stukent and Titan Power/Uno were highlighted as a few Idaho success stories, particularly in the startup sector. Company leaders described their business’s journey, and some insights gained.

Zach Adams, CEO and co-founder of Pitch Aeronautics, based in Boise, described the company as a hard technology startup. One of the products the company develops is a drone that assists in installation and maintenance tasks for power lines, wind turbines and more. 

“In order to attract investment, both on grants and in private investment, we have patents to protect our hard technology. Patents are obviously expensive,” Adams said. “The way a small startup like us was able to pull it off was to find an attorney who coached us through writing the bulk of the information. We relied on the attorney to do the claims, the important legal aspects of the patent.” 

Regarding funding, the startup was able to obtain about $30,000 from friends and family investments, and then, in partnership with Boise State University, was awarded several Idaho Global Entrepreneurial Mission (commonly called IGEM) grants totaling about $400,000.

“That allowed us to work with students and faculty (at the university) to commercialize and develop (a) drone prototype and do some initial demonstrations of the platform,” Adams said. That, he added, led to future seed funding, and now the company is applying for Small Business Innovation Research grants and seeking more private equity investment. 

Stukent, based in Idaho Falls, is an education technology company founded by Stuart Draper with the help of some key partners. 

Draper credits a network of funding — both from a business and personal relationship and an angel investment company — as helping to ensure the success of the business. 

“One of the reasons we needed money is because of the seasonality of our business,” Draper explained. “Thankfully, there was a great path to profitability, and a great path to return on investment. Another great lesson for Idaho: Funded businesses provide jobs, and providing capital, (is) very important.” 

Draper said he initially had to look outside of Idaho for talent to get the company underway, and he bought a Texas-based simulation company for its technology, which he incorporated into his business. 

Today, the business is valued north of $60 million, according to Draper. 

“I don’t share that to toot my own horn,” he said, “as much as to say that there are opportunities right here in eastern Idaho.” 

Titan Power/Uno makes batteries for various applications and is based in Pocatello. 

“Over the last couple of years, like (for) all of you, the pandemic kicked off a series of things that have impacted our business in so many ways,” said Trent Clawson, president and chief engineer. “The government’s social and fiscal response to the pandemic has also affected our customers and our trade relationships…and that has really affected us acquiring some raw materials…more recently, some of these macro effects, like inflation…consumer confidence…have changed the landscape of our customers and how we can get our products to those customers.” 

Clawson credits being adaptable to the business’s survival. Today, that adaptability is maintained, along with a humility around being open to doing things differently and being “less wrong” — knowing that nothing is perfect. Along a similar vein, the company is said to have “a healthy tolerance and appetite for innovation.” 

“We see our products, our services, as fluid,” Clawson explained, “meaning that we’re always willing to change and adapt as needed.”