Challenge: Coscomm's pilot project had to be done at no cost to the participating agencies.
Solution: The technologist's attendance at OLETC's CPW® taught him about various types of investors: angel investors who fund projects simply because they believe in them; venture capitalists who require an exit strategy and a return of four to 10 times their initial investment; and private investors who trade money and/or services for a piece of the company.
Impact: After learning about the need to build a team, Coscomm began by partnering with private investors who believed in its idea and the potential to succeed. Then, raising enough money to complete the design and development of E-STRAN prototypes and to fund a pilot project with the King County Sheriff's Office and the city of Tukwila, Wa., Coscomm launched its initial field trials in 2003.
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