ON THE VERGE
Oklahoma City’s first entrepreneurship hub connects start-ups with mentors and investors
As a single mother of two kids, Allison Watkins had learned, with a lot of work, what it takes to start a patented products venture, raise $6 million in capital, and to go through the testing and FDA review necessary to just get started.
The seven-year journey for Watkins took her to multiple business incubators and accelerators across the country for mentoring, support and assistance in building her company, which will produce items designed to address often overlooked continence issues that affect women in various stages of life.
“I applied for just about every accelerator — Francis Tuttle, i2e … there was an entrepreneurial hub in San Franciso that was a springboard,” Watkins said. “There are things all over the state, organizations that have helped. But I didn’t have one place to find all those resources.”
Watkins hopes her experience will help shape Verge, Oklahoma City’s first full-scale entrepreneurship incubator. The new entrepreneurial hub at 12 E California Ave. overlooking the Bricktown Canal is designed to bring to one place the resources Watkins sought across the country.
“The problem a lot of entrepreneurs face is we have a lot of cheerleaders, but what we need is tough love, tough feedback,” Watkins said.
Watkins is preparing for FDA approval and the job of scaling her business. After delving deep into research, her focus is now on marketing, packaging and distribution in preparation
“Verge wants to be that first stop for entrepreneurs and a hub for the amazing partners around the city.” Kristen Garcia overseeing Verge
of working with physicians in “key markets” this summer.
One of those who helped Watkins is Kristen Garcia, who is overseeing Verge after previously working with Watkins and other aspiring business start-ups at Francis Tuttle Technology Center, part of CareerTech.
“Kristen Garcia called me and asked if I might be interested,” Watkins said. “I immediately said ‘yes’. I know how hard it is. I’ve come a long way, and it’s rewarding to be able to help people get started.”
Verge opened after being certified by the state’s business incubator program and was established by multiple partners who joined after initially looking to set up their own offices. Garcia said that by centralizing resources, the nonprofit is able to offer space for education, curated events, flexible workspaces, and offices for both entrepreneurs and investors.
As a certified incubator, Verge tenants can be exempted from state tax liability on income earned as a result of occupancy for up to 10 years.
“Major cities across the U.S. have centralized hubs of entrepreneurship energy from tech to Main Street businesses,” Garcia said. “Verge wants to be that first stop for entrepreneurs and a hub for the amazing partners around the city.”
Verge is already home to three business start-ups and nine private office members. They include Gener8tor’s Investment Accelerator for Oklahoma and Oklahoma City gBeta; OU BIO
START programs, Techlahoma and OK Coders Bootcamp, and Cortado Ventures, which raised its first fund of $20 million in 2021 that has invested in 30 of 1,700 applicants.
Cortado reports $60 million of a targeted $80 million has been raised for the second fund.
In addition to Cortado, Verge’s other partners are the Inasmuch Foundation and Flourish.
Nathaniel Harding, managing partner of Cortado, said Verge is realization of a longtime dream to help create more homegrown businesses like Watkins’ Conti Products.
“The Oklahoma entrepreneurship ecosystem is stronger than ever, and the opening of The Verge will further bolster investment and activity in the state,” Harding said.
“I truly believe great things are happening here and the third wave of venture capital is happening now in the mid-continent region.
“The Verge will foster collaboration, provide resources and be a hub where innovation starts in the state. I cannot be more excited about this opportunity.”