From Business Incubator to Market: Four Startups Graduate from Venture Creations

Agri-Trak founder and CEO Jamie Sonneville returned to Rochester from Manhattan in time to celebrate her startup company’s graduation from the Venture Creations incubator. Sonneville, whose company just surpassed $1 million in funding, was in Times Square for the unveiling of a billboard featuring her above the NASDAQ building.

“I come from a long line of farmers, but I never thought I’d be here today when I started my business,” said Sonneville, whose ag data tracking software helps farmers maximize production. “But through my experiences and the coaching and feedback I’ve received from Venture Creations, I can say I’ve helped create a smarter way to farm.”

Agri-Trak was one of four startups to graduate from Tait Preserve on September 18.

• To meet the new needs of the ever-changing microelectronics and semiconductor industry, Lux Semiconductors, founded by Graeme Housser and Shane McMahon, has created the Smart Metal platform, which enables the integration of more chips in a single system while keeping them running cooler. Enabling larger systems makes the Smart Metal platform ideal for AI data centers, defense equipment, and consumer electronics. The company has raised $10 million to date.
• Sign-Speak, founded by Yamillet Payano, Nicholas Wilkins, and NTID alum Nikolas Kelly, is a proprietary AI software that translates sign language into text/voice and offers capabilities comparable to voice recognition technology. The technology enables companies to bridge the communication gaps between the deaf and hard-of-hearing communities. The company has raised $3.5 million.
• Panacheeza, a plant-based cheese with the consistency and versatility of traditional Parmesan, is sustainable and appealing to consumers looking for dairy-free options. It’s also a superfood with just five ingredients—cashews, nutritional yeast, and three other spices. The company has raised more than $400,000 in funding, has filled 6,000 orders, and will soon launch new flavors.

“In about six months, Panacheeza went from incubator to market,” said co-founder Janessa Steenberg ’23 (Individual Program). “Being an incubator company allowed us to hit important milestones, move to a larger production facility to meet demand, and transition to a profitable business. The structure and access to our coach’s experience laid the foundation for our success.”

• Designed for small farms that collectively produce 90 percent of America’s food supply, Agri-Trak uses a field-ready smart farm platform to track labor, yields and cost centers in real time.

Chuck Gershman, founder and CEO of OWL-AI, was the keynote speaker at the event. OWL-AI, which graduated from Venture Creations in 2022, produces sensors that can detect and classify objects around a vehicle in any environment, providing drivers with constant awareness of their surroundings. In his speech, Gershman reminded the founders of the companies that graduated to listen to their constituents, be mindful of their leadership and remember their purpose.

“It’s important to know your ‘why’ and always emphasize the purpose for which you do what you do,” he explained. “Your ‘why’ is a beacon in the chaos.”

In his remarks, RIT President David Munson touched on the future creation of the Office of Entrepreneurship and Innovation, a university-wide center for entrepreneurial activity that will provide resources, mentoring, a new accelerator and other support for entrepreneurs.

“Our stated mission is to make our university a recognized leader in starting, managing and growing businesses,” he said.

Ryne Raffaelle, Vice President of Research, and Johan Klarin, Director of Venture Creations, also addressed the founders.

Venture Creations has graduated 54 companies, raising approximately $500 million in total. Thirteen of these companies have been acquired, and 31 of the 41 unacquired companies are still in business. In addition, 85 percent of the companies have maintained a regional presence.

Watch a video featuring four recent Venture Creations graduates.