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4 0 C T I N N O V A T O R S , 2 0 2 3 'wait a minute. You're telling me if somebody likes 'Suits' in Milwaukee you can tell us what other TV shows they watch, what movies, what music they listen to, what video games they play?'" ey used their increased credibility and relationships to begin building data collection technology for legitimate streaming apps, and eventually they had the resources to build the final product, which had been planned all along. It was a marketplace to buy and sell third-party data from more than 80 million homes across the U.S. "We were there at the beginning of the ecosystem," Swanston said. "I can honestly say I think we had a signif- icant impact on the growth of streaming in America." Chasing capital roughout this period, Swanston describes being turned down by — or not even being able to get a meeting with — almost every venture capital firm in Connecticut. A breakthrough came from Connecticut Innovations, the state's quasi-public venture arm, and also a couple of angel investors, including Kristi Matus, then an executive at Aetna, and Alex Blum, a Connecticut-based early stage venture capitalist. Blum said personal relationships are key for him in choosing who to invest with. "With Andre, I just sensed a wild talent, and someone who was able to be an extremely fast learner," he said. "His ability to grasp the nuance and detail and essence of the issue relative to what we were trying to do was pretty extraordinary." Blum ultimately became executive chairman of Tru Optik. Matt McCooe, who became CEO at Connecticut Inno- vations aer the investment in Tru Optik, was similarly impressed — and has also nurtured a long-term relation- ship, including putting Swanston on CI's board. "I was excited about him and his energy and his vision for what he was trying to build, and the team that he was assembling," he said. "I liked him right away." e early rejections from the big VCs confirmed for Swanston what the figures suggest. Venture capital is not an even playing field. In 2022, Black founders raised just 1% of the available VC funding. Startups with diverse teams of any kind raised less than 2%. Swanston calls that data, "almost so mathematically impossible that it's crazy." It was a reflection he would tuck away in that notes app for his long-planned next venture. But first, he and his team had a decision to make with the now wildly successful Tru Optik. Several compa- nies were circling, they had a deal on the table from TransUnion — and then the pandemic hit. So, would they roll the dice on staying independent, or would they exit? "I think if we had a war chest, if we had tens of mil- Continued from previous page "Talent only takes you so far. Hard work can take you further. But frankly, perseverance probably takes you the furthest out of anything." – André Swanston lions of dollars in the bank, we would have taken the shot," Swanston said. But he had accomplished what he set out to achieve — a nine-figure exit. And not coming from a lega- cy of wealth, it was hard to turn down. ey sold to TransUnion. e payoff has allowed the Swanstons both the time and resources to dream. "is time around, the goal is a lot bigger," he said. Diversifying success In the living room of the Swanston's Ridgefield home, a painting by Tennessee artist Emery Franklin depicts the heyday of Black Wall Street in Tulsa, Okla- homa, one of the most prosperous African-American communities in the early part of the 20th century. e wealth created there would be destroyed in the Tulsa Massacre of 1921. e original achievement of that community is an inspiration for what Michelle and André want to create with their new venture, the Swanston Organization. Its pillars are philanthropy, venture investing and a continuation of their own business ideas. "I always wanted to be able to have a holding compa- ny that could do multiple different things," he said. Swanston Family Ventures, the investing arm, is about giving opportunity to others where he sees the biggest gaps. "I knew that the ability to invest in underrepresented founders was critical. I learned the hard way," he said. Meanwhile, Swanston Labs will nurture his own team's ideas about the future of media and entertain- ment. He's also co-investing with one of his original backers, Connecticut Innovations, where McCooe said the TransUnion sale had more than a few champagne corks popping. "At that point, it was one of the largest returns CI had ever had from a portfolio company," he said. "So, we named one of our conference rooms the Swanston Room, as a reminder to everybody who walks in and out, we're here to serve the founders." As you might imagine for a man with a 10-year plan, Swanston is already hard at work on the next big thing. He has a launch announcement imminent around video gaming. He also sees innovation opportunities in the world of e-commerce, and — going back to his roots in nightclubs and restaurants — in the live entertainment space. at sparked the professional soccer stadium pro- posal in Bridgeport. "People perceive doing something that hasn't been done before as innovation. But most innovation is im- proving things that people already do," he said. "at's the innovation that really drives the world." I Among the new ventures André Swanston says he has planned, one will revolve around video gaming.