Michael Ragsdale remembers the moment clearly, though he rarely wants to.
He'd headed down to Kentucky's Red River Gorge for rock climbing - an activity he finds "incredibly rewarding" due to its "sense of achievement and connection to nature."
Out of nowhere, tragedy struck. Ragsdale's fall safety equipment failed, and he plunged 100 feet from the side of the gorge, leading to two months in the hospital, recovery from a coma and learning how to walk again.
At certain points, Ragsdale thought he'd never restart rock climbing.
"Going back down to the gorge and making the decision to continue climbing was extremely difficult," he said. "This taught me how to deal with fear and think objectively about risk … something that would serve me throughout my life as an entrepreneur."
So, how exactly did Ragsdale transform a near-death experience into a burgeoning startup? Credit his unwavering passion for rock climbing, a service-driven mentality and invaluable mentorship from the University of Cincinnati's Venture Lab.
Bailout Systems serves a dual mission: to generate revenue and safeguard individuals working in high-risk professions. Taking Ragsdale's design from an ingenious idea to a nationally available product required a vast deal of expertise, leading this Bearcat to seek support from the Venture Lab.
"Michael's success with building, launching and scaling Bailout Systems reflects the kind of impact that the Venture Lab's portfolio of resources can play in supporting Cincinnati-based founders," said Kate Harmon, assistant vice president of UC's Office of Innovation.
She highlights mentorship, networking and funding as specific aspects of the Venture Lab that benefit startups like Bailout Systems.
"Being part of the UC Venture Lab has been a transformative experience for Bailout Systems," Ragsdale said. "The lab's support has been multifaceted, including pitch competitions that provided essential funding for our prototypes, mentorship that helped refine our business model and valuable industry connections that opened doors to potential investors and partners."
It's hard to believe that a 2-pound device, no larger than a hockey puck, could be a game changer between life and death, yet Bailout Systems made a way. This kind of breakthrough innovation is the hallmark of the Venture Lab, as Ragsdale knows firsthand.
"I like to remind people that the University of Cincinnati outshines Ivy League schools graduating billion-dollar unicorn founders," Ragsdale said.
Whether creating the next billion-dollar business or developing lifesaving technology, Bearcats are merging brilliance with innovation and positively transforming lives in the process.
Featured image at top: Rock climber using Bailout Systems' technology. Photo/Bailout Systems
