Prize money and connections with potential investors are on the line as 11 healthcare startups – including several from the Triangle – take part in a “Pitchfest” on Thursday in RTP. But this is more than a showcase for companies seeking venture capital.
The competing firms all aim to help “low-weath individuals” gain access to healthcare and treatment.
The event is being put on by SOURCE, an organization aiming to get investors more involved early in “business building.”
A key partner in SOURCE, which stands for Solutions from Our Country’s Entrepreneurs, is Investors’ Circle, which has an office in Durham.
Other partners are the Hitachi Foundation and Village Capital.
“SOURCE discovers entrepreneurs creating business solutions to social issues impacting low-wealth Americans and links them with the investment capital and mentoring needed to grow their businesses,” the organization says.
Meredith Martindale, who works with Investors’ Circle in Durham, says the Triangle is strongly represented in the event.
“I personally love how this pitchfest connects the entrepreneurial spirit of Raleigh-Durham with our rich history of healthcare to promote innovation and problem solving.,” she wrote in an email.
“Applications were submitted from around the country, and over half of the pitching companies are headquartered in the Triangle area. We are also pleased to have four female entrepreneurs presenting.”
The group has put on several other events.
Three $1,000 prizes will be offered:
- one peer-selected by fellow ventures based on a range of business criteria
- one selected by Investors’ Circles’ local investors for the venture that shows strong investment potential
- one selected by the audience for the venture with the highest social impact potential
The event begins at 4:30 p.m. at the Research Triangle Foundation headquarters.
The presenting firms:
- Aware Engineering
Aware Engineering turns stand-alone medical devices used for the treatment of Cystic Fibrosis into smart data gathering tools that provide physicians with a simple, cohesive portal for viewing real-time adherence information on all the devices. Aware, based in Richmond, Virginia and Zurich, Switzerland is currently in the process of completing a 6-month, government-funded (Switzerland) study that has demonstrated the feasibility of our approach. ae.healthcare.org
- ARMR Systems
ARMR Systems is building the world’s first wearable hemorrhage-control systems in attempts to quickly address trauma in scenarios where victims have limited access to advance medical care. For those going into harms way, our system ensures a quick, reliable, and life-sustaining response to stop the bleeding and save lives.
- Forecast Health
Insights for life! Forecast Health provides predictive and prescriptive analytics for health
- Health Fair Connections
Health Fair Connections is a two-sided marketplace. Health Fair Connections is a
first-to-market platform that connects companies employees to their local health and wellness providers via primarily health fairs, but also via screenings, workshops, lunch’n’learns, demos and like wellness initiatives.
InRFood is a consumer technology company that reimagines the way consumers discover, learn about and interact with their favorite brands. Since nutrition information is one size fits all, InRFood delivers ways to give consumers a more unique and personalized experience when they’re shopping.
- Lowcountry Street Grocery
Lowcountry Street Grocery is Charleston’s first community-supported mobile farmers’ market, providing farm-fresh produce aboard a renovated school bus serving as a traveling, two-aisle market. The revenue we generate is reinvested to provide reduced pricing and free nutrition education in underserved communities across the Lowcountry.
Medlio helps providers get found in highly targeted mobile and web-based searches. We then turn these searches into a point of engagement where consumers can schedule appointments, share records, message securely, check-in virtually, and make on the spot mobile payments.
At Nicotrax we are developing a smart cigarette case and software solution that helps users quit smoking. We do this by tracking smoker habits and providing a customized plan to quit based on collected data.
Remedy transforms the way pain is managed by giving providers accurate, meaningful and usable data on their patients’ progress. With a simple mobile application for pain tracking, a powerful provider dashboard and EHR integration, Remedy empowers patients and providers to be active partners in managing pain. remedymypain.com
Behavioral risks and disorders lead to 40% of deaths, most chronic disease, and nearly $1 trillion in costs per year in the United States. Wellsys enables healthcare providers, accountable care organizations, workplace clinics and employers to systematically identify and address those risks and disorders with a turnkey population health management program – including health coach training and support, and software to guide coaches and engage
Zansors is an early-stage company based in Washington, D.C. developing next-generation wearable sensors, embedded algorithms, and apps with its proprietary breathing sensor platform for sleep apnea, COPD, asthma, and childhood pneumonia. Zansors technology has been awarded NIH grants and contracts in addition to one design patent award and 4+ patents pending with the aim that technology helps you “know yourself.” zansors.com
The SOURCE Partners
- The Hitachi Foundation
The Hitachi Foundation is an independent, philanthropic organization that seeks to discover, demonstrate and expand business practices that both measurably improve economic opportunities for low-wealth individuals in the U.S. and enhance long term business value.
- Village Capital
Village Capital sources, trains and invests in early-stage entrepreneurs solving major problems in society through business solutions in the US and emerging markets. Village Capital puts the power of investment in the hands of the entrepreneurs with an award-winning peer-selected investment model, and supports entrepreneurs as a 501c (3) non-profit, as well as an affiliated for-profit investment fund. Program graduates have raised more than $100 million in follow-on capital, and 93% of alumni are still in business.
- Investors’ Circle
Investors’ Circle (IC) is the largest early-stage impact investing network in the world. Together with hundreds of angels, venture capitalists, foundations and family offices, IC has propelled over $200 million into more than 300 enterprises dedicated to improving the environment, education, health, and community. A nonprofit organization, IC cultivates its impact investor network, provides opportunities for high-potential impact entrepreneurs to meet impact investors, and facilitates investment.