VaultBox Ignores Naysayers, Launches in Miami, Seeks to Create Startup Community

Monika Jansen February 3, 2012 Tweet

Miami is known more for their beaches, babes, boats, and bars than startups.  VaultBox.me could change that – in more ways than one.

This brand new startup that launched last week is a cloud-based inventory management system that lets you easily list all the items you own using your iPhone (download the app here) or computer.   The idea came about after co-founder Jacob Israel’s house was broken into 3 times – in one year.

“I’m in a band, and we went on tour – and everyone’s stuff was in my house.  When we got back, everything was gone.  After contacting my insurance company, I learned that the proof of burden is on the homeowner – you want to replace something for its full value, you have to prove you owned it.  I had a $2,000 vintage guitar, for instance, and the insurance company wanted to see a picture of the guitar, which I had – on my computer and digital camera, both of which were stolen.  I am really lucky that they caught the guy – he was breaking into another house in my neighborhood 2 days later – so we got all of our stuff back.”

That was just the first break-in.  By the third one, Israel had become friends with the cops, who told him that only 8% of the people whose houses get broken into have a list of serial numbers for their stuff.  Because pawnshops have to enter serial numbers into a system that is linked with the police department’s, it is easy for both parties to cross-reference serial numbers and look to see if an item is stolen.  That’s when the lightbulb went off.

Israel joined forced with his cousin Mauricio Jimenez and friend Mohsin Bari – none of whom have been involved in a startup – to put together the app and launch the company, which they bootstrapped.  And, in fact, they have decided not to seek funding at all.

“We’re in a non-startup community. Mauricio and I reached out to people letting them know we wanted funding – and people were telling us we had to move to Silicon Valley to make a serious go of it.  But we said, no, we’re here, and the problem is everywhere.  You want to build a community, you can start it where you are.”

They went to Startup Weekend in Miami, which inspired them to work to create a viable startup community at home.  The Miami Ad School produces a lot of creatives – and there are plenty of technology folks – but Israel told me everyone feels like they have to leave if they’re going to be a success.

“I think the problem is here we don’t believe in ourselves.  The mentality is, if you want to do something big, you have to leave.  And it’s not just startups – the same is true for bands, artists, etc.  They don’t think they can produce anything worthwhile in Miami, but we have so much going on that I want to bring all of those communities together.”

That is a goal that all of us Tech Cocktail support and champion – so here’s hoping they succeed!