Wednesday, 21 September 2016 12:00:00 EST
Encapsio, producer of revolutionary silicone microspheres for the encapsulation and delivery of active ingredients in product formulation, took home the top prize of $20,000 for first place. Ascent Bio-Nano Technologies, Inc., developer of safe cell and particle separation research tool and medical device, was awarded $10,000 for second place.
This year’s challenge featured a total of three elimination rounds with the final pitch event held at the Research Triangle Park Headquarters. Over thirty companies applied to the challenge where the six finalists presented to a live audience and panel of judges.
“Based on the number of inquiries, The Big Launch Challenge has become a highly anticipated event in the region,” said Eva Doss, President and CEO of The Launch Place. “Not only does the competition provide entrepreneurs with prize money, but it also serves as a platform for them to learn about The Launch Place’s entrepreneurship services and investment opportunities in Danville, Virginia.”
Encapsio
Encapsio produces premium silicone microspheres for the encapsulation, protection, and delivery of active ingredients in product formulations. Unlike other technologies, our proprietary method allows for the production of spheres that can not only effectively deliver compounds, but improve the aesthetics of the product, are cost effective, and scalable. Due to our ability to encapsulate and deliver a variety of compounds, our spheres have applications in industries ranging from pharmaceuticals to agrochemicals, but we are currently focused on topical applications for skin care. Our first product is a retinol-encapsulated microsphere that we will supply to cosmetic brands and cosmetic ingredient distributors.
Ascent Bio-Nano Technologies
Ascent Bio-Nano Technologies, Inc. is a research spin-off from the Pennsylvania State University formed in 2012. The mission is to develop gentle and safe cell and particle separation research tool and medical device. The company motto is Innovation for Impact. Our passion is to commercialize world leading acoustofluidics technologies to advance research, enhance health and improve life quality. The current focus is to develop blood component separation system for transfusion and cellular therapies. Our blood processing system and disposable processing kits are based on patented acoustofluidic technologies.
The challenge, in its third year, is an annual event and offers startups valuable business networking and capital opportunities, as well as critical resources. The goal of The Big Launch Challenge is to foster entrepreneurship by offering education, team creation, mentorship, early-stage prototyping, and potential follow-on seed financing.
“We are excited to be working again with The Launch Place on The Big Launch Challenge,” said Andy Schwab, President of First Flight Venture Center. “This event brings together talented entrepreneurs and start-ups, all in an effort to help find good ideas and build sustainable businesses.”
The Big Launch Challenge Winners
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CIT Announces FY2017 Solicitation for Commonwealth Research Commercialization Fund
Tuesday, 11 October 2016 12:00:00 EST
The Center for Innovative Technology (CIT) has announced the Commonwealth Research Commercialization Fund (CRCF) Request for Proposals (RFP) for FY2017. The solicitation is open and Letters of Intent (LOIs) are due by Thursday, November 10th. Award announcements are planned for early June 2017.
Informational webinars discussing the FY2017 solicitation will be available throughout the submission period. More information about dates and times are located at this link - webinar schedule (scroll to bottom of the page).
The CRCF grows Virginia’s economy by supporting high-potential technology commercialization projects at Virginia's public and private colleges and universities, the private sector and nonprofit research institutions. A single solicitation for $2.8 million will be offered in FY2017, with five programs available for funding: Commercialization, SBIR Matching Funds, STTR Matching Funds, Matching Funds and Eminent Researcher Recruitment.
Awards from the CRCF further the goals and industry opportunities set forth the in the Commonwealth Research and Technology (R&T) Strategic Roadmap. Eligible technology sectors this round are advanced manufacturing, cyber security, energy, environment – specifically water quality, information technology, life sciences and unmanned systems.
Details about the FY2017 solicitation are available on CIT’s website at http://www.cit.org/initiatives/crcf/fy2017-solicitation/. Here applicants also will find critical resources, including the link to submit an LOI, program guidelines, webinars, and more. Please direct questions to crcf@cit.org.
In FY2016, CIT issued one solicitation resulting in $3.4 million recommended for award in 48 projects. This leveraged the Commonwealth’s investment with approximately $11.6 million in matching funds. To date, the CRCF has announced nearly $20 million in support of 232 projects with leveraged dollars of $51.4 million. In FY2016, CRCF recipients reported a total of $69 million in additional follow-on investments.
About the CRCF and R&T Roadmap The Commonwealth Research Commercialization Fund (CRCF) advances science- and technology-based research, development and commercialization to drive economic growth in Virginia and to encourage collaboration among its institutions of higher education and partnerships between these colleges and universities and business and industry
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KSI Data Sciences - Job Openings
Tuesday, 13 December 2016 12:00:00 EST
Join KSI Data Sciences
Who is KSI?In 2012, a group of unique people with a genuine love of gadgets (like drones), movies (like Star Wars) and television (like Blacklist) got together to form KSI. We wanted to create a company that could make video and sensor data from robots and drones cool. We wanted to make our software usable by geeks and non-geeks alike. If a product isn't a breakthrough, cool, and usable by someone who isn’t a geek, then it won't be made by KSI.
Our PeopleThe people of KSI consist of programmers, engineers, computer and video experts, designers, mathematicians, dreamers, kite surfers (notice our logo?), musicians, marketing types and even normal people (gotta have a non-geek or two). We also share a common love of science fiction, movies and music. We are the ones who wait in line (with our kids) to see the 3 a.m. showing of the Dark Knight Rises at the Sony Metreon in San Francisco.
Our HistoryKSI isn’t our first dance. We are experienced entrepreneurs. Before we founded KSI, many of our programmers, engineers and designers spent the last 10-15 years creating ground-breaking video technology at other companies (some of which we founded). We created some pretty fun things (like digital asset management systems used for film and television production) and some really hard things (like drone video/data management and processing systems for the military). You've seen our inventions and hard work used by major television networks (ever watched Law and Order, X-Files or NYPD Blue?) and in major feature films (like Star Wars Episode I, II, and III), and if you were in the military and watched any drone video, chances are that was us too.
The FutureThe people of KSI are unique, and fairly well-equipped in the brain power department, so there is never a lack of ideas, passion, or excitement. Our next big product is MissionKeeper, which promises unprecedented video search, analytics and story telling power, all in the cloud. What comes after that? Well, we could tell you, but then....well, you know the rest! The ability to release more products faster is very important to us because we are just as impatient as you when it comes to getting our hands on the latest, greatest inventions, so stay tuned.
Job Openings
Sr Development Operations Engineer (Dev/Ops)
Support Engineer I
Systems Engineer II
Learn more about KSI at www.ksidatasciences.com.
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The Launch Place invests in ProAxion
Tuesday, 10 January 2017 12:00:00 EST
The Launch Place announced today that it is investing $75,000 in ProAxion from the Pre-Seed Investment Program. After completing pilot installations, including two locally at Blue Ridge Fiberboard and Drake Extrusion, The Launch Place decided to invest to help ProAxion bring their TACTIX™ Machine Health Monitoring System to market. ProAxion is defining the Industrial Internet of Things (IIoT) through the development of cloud-connected sensors that bring the benefits of predictive maintenance to industrial machinery operations. Historically, if an industrial facility wanted to perform remote 24/7 monitoring of a machine asset, a significant upfront investment would be necessary to procure hardware and integrate with existing control systems. Through their cloud-based wireless sensor system, ProAxion helps facilities improve reliability and uptime, helping them avoid costly downtime and reduce the total cost of operations and maintenance by performing service only when necessary. These benefits are very important to thousands of facilities in the manufacturing, water treatment, power and other industries that rely on rotating machinery. “Our system is truly plug & play, and designed for DIY install, requiring zero systems or IT integration, which bypasses historical cost barriers associated with legacy machine health monitoring systems. Our customers can reap the benefits of data-driven operations and maintenance for all of their machine assets, and help them gain a competitive advantage by improving the reliability and uptime of their facility,” said Justin Rothwell CEO & Co-Founder.ProAxion piloted the system locally at Blue Ridge Fiberboard in Danville, VA as well as at Drake Extrusion that is located in Martinsville, VA. “When we first met Justin over a year ago, and learned about ProAxion, we could see the potential for their product. However, the company was too early in development for The Launch Place investment,” said Eva Doss, The Launch Place President & CEO. “We are very grateful to these local companies for opening their doors to ProAxion. The product has been tested and reached specific milestones that brought them to become investment ready,” Doss said.“The system fits well in our predictive maintenance program by providing 24/7 monitoring of the equipment where it is being used,” said Mark Custer, Plant Manager, Blue Ridge Fiberboard. “The hope is that the machine vibration and temperature data will help to identify issues before they result in a breakdown,” Custer said. “We rely on our machines to operate reliably 24/7 to remain competitive as a U.S.-based manufacturer. The ProAxion system is helping us reduce the risk of unexpected downtime by alerting us when service is required ahead of time, versus after a problem already occurs,” said John Parkinson, Drake Extrusion CEO. “Their system helps us remain competitive by avoiding disruptive downtime and potential missed customer shipments, plus it helps us optimize maintenance activities by servicing machines only when necessary,” said Parkinson.“The Launch Place funding is helping us pull our product from a development project, into commercial production, and enables us to design attributes related to robustness and durability, which are critical considering the demanding industrial environments where they are installed,” Rothwell said. “The Pre-Seed Investment program is intended to help companies, like ProAxion expedite the early stages of their startup development process, specifically in product and market validation and business model refinement. We have been impressed with ProAxion’s ability to achieve milestones and look forward to watching them continue to grow in our region,” Doss said. “Partnering with The Launch Place makes a lot of sense for us. In addition to providing tremendous support and helpful feedback as we cross the chasm from idea to successful business operations, they have also introduced us to early customers. The greater Danville area is home to a significant number of facilities where our system can provide immediate value,” Rothwell said.About The Launch PlaceThe Launch Place, from a $10 million grant received from the Danville Regional Foundation in 2012, assists with entrepreneurship and business development, and job creation and retention through its business consulting, mentoring and training, residential and office subsidies, and two seed investment funds in the Dan River region of Virginia and North Carolina. About ProAxionProAxion brings the benefits of Predictive Maintenance to the millions of industrial machines that previously could not afford legacy systems. By leveraging the power of low-power sensor and cloud computing technologies, the company has developed an easy-to-use and affordable solution that helps industrial facilities improve uptime and reliability, and optimize total cost of operations and maintenance. Their first product TACTIX™ is due to be released in Q2 2017. Website: www.proaxion.io
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IdeaFest 2017 - Application Open
Friday, 27 January 2017 12:00:00 EST
IdeaFest is a fun, fast-paced Business Pitch Competition with $10,000 in prize money.
Twenty entrepreneurs will take the stage to pitch an original business idea to a panel of judges. You have 2 minutes to pitch your idea followed by 3 minutes of Q&A with a panel of expert judges. The top three competitors, as selected by the judges, will be awarded $5,000 for first place, $3,000 for second place, and $1,500 for third place. The live audience will vote to select the winner of the $500 Audience Choice Award. All competitors will gain access to free business consulting and prototype development through The Launch Place.
Eligibility - Ideas and concepts pitched must be in the initial stages of development where funding to date is no more than $25,000.
Learn more at www.ideafestdanville.com.
Download flyer
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Join us at Business After Hours
Tuesday, 31 January 2017 12:00:00 EST
The Launch Place is excited to host Business After Hours with the DP Chamber and looks forward to opening their doors to the business community. Come meet and chat with portfolio company entrepreneurs who have received investment from The Launch Place. Attendees will learn about the investment program as well as The Launch Place's superior business consulting services for all stages of businesses, from helping entrepreneurs in the earliest stage of a great idea to business growth and expansion for existing businesses.
Register to attend
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2017 may be toughest year yet for Danville entrepreneurial competition
Wednesday, 22 February 2017 12:00:00 EST
by Colter Anstaett
DANVILLE (WSLS 10) – This year could be the toughest yet for a popular entrepreneur competition in Danville.As of Wednesday, there was just one week left to submit applications for The Launch Place’s IdeaFest.So far, 53 applications have been submitted.According to The Launch Place CEO Eva Doss, that’s about average for one week to go before the deadline.The top 20 will be chosen and those people will have two minutes to pitch their idea to a panel of judges.The judges will choose the three best ideas and each will get a share of $10,000 to help develop their idea.“I think the judges are going to have a pretty difficult time. Each and every year, I think, with these competitions we have a tendency to see stronger applications,” Doss explained.Iulian Bobe, founder and Chief Technology of Tyton Bio Energy Systems located in Danville, is a first-time judge for the 2017 competition.He said he is excited.“I think this can put Danville on the map for entrepreneurs,” Bobe said. “We see more and more entrepreneurs coming here and we see, also, companies coming here from the Northeast and Europe.”The 20 ideas that are chosen will be pitched to the judges on March 31 at the Institute for Advanced Learning and Research.
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With 11 Investments and an Upcoming IdeaFest, The Launch Place Supports Entrepreneurial, Economic Development
Wednesday, 01 March 2017 12:00:00 EST
Article by ExitEvent.com
Get behind the scenes of The Launch Place, an organization and fund that promotes job creation and economic growth in the Dan River region.
Read full article by clicking here
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Free Industrial Internet of Things (IIoT) workshop - March 31
Thursday, 16 March 2017 12:00:00 EST
As part of IdeaFest, The Launch Place and RIoT will host a free Industrial Internet of Things (IIoT) workshop at the Institute for Advanced Learning and Research in Danville. This will be an invite-only workshop for leaders in industry throughout our region.
The agenda includes an IIoT overview as well as case study applications on improving facility energy efficiency through IIoT, real-time monitoring for predictive maintenance and deploying sensors to improve capital equipment deployment. Registration is limited to industry professionals, plant managers, engineers, maintenance and facility managers, quality control specialists, information system specialists, etc. Register by emailing Kelly Fitzgerald at kfitzgerald@thelaunchplace.org. Registration will be lmited to 100 to ensure high engagement and time for Q&A with the presenters.
Download Flyer
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Investment in iScribes, a virtual medical scribe technology and service company
Friday, 17 March 2017 12:00:00 EST
The Launch Place announced today that it is investing $250,000 in iScribes to further develop its operational capacity and technology for delivering virtual scribe services to healthcare providers across the United States. iScribes is a HIPAA-compliant mobile application and virtual medical scribing service. Healthcare providers record patient encounters using the mobile application, and virtual scribes listen to patient encounters, write medical documentation, and put it in the electronic medical record (EMR) for healthcare providers, saving doctors hundreds of hours per year of clerical work.
The adoption of EMRs is an important step in the modernization of the US healthcare system, but it has created significant new challenges for providers. It is estimated that physicians now spend 40% of their time documenting patient encounters in EMRs, which directly reduces time available for patient care. EMRs have also impeded the doctor-patient relationship, as many physicians now conduct exams while facing a computer instead of their patients.
"iScribes exists to make healthcare functional and efficient," said Dr. Jared Pelo, Co-founder and CEO of iScribes. “Virtual medical scribes enable providers to conduct patient encounters naturally and efficiently with exceptionally high-quality documentation.,” said Dr. Pelo. Unlike with medical transcription, no dictation is required and scribes complete documentation directly in the provider’s EMR.
"The problem of time-consuming documentation for every patient office visit has been reduced," says Dr. John Mahoney, Orthopedic Surgeon with Spectrum Medical in Danville, who has used iScribes since October of last year. “I can focus more time on my patients instead of spending long hours at a computer or working with dictation services,” said Dr. Mahoney.
When a company is raising a round of funding, oftentimes multiple investors participate in the round. The Launch Place led the syndication of this deal where Triangle Angel Partners II, LLC (TAP II), an angel investment fund based in the Research Triangle Park, North Carolina, co-invested for a total of $410,000 investment. This investment marks how two regions can work together and enable an early-stage company to grow and expand operations.
“The membership of TAP II found the combination of iScribes' management team and application of technology to the healthcare services sector a compelling reason to make iScribes the 6th portfolio company” said Stephen Clossick, TAP II Fund Manager.
“TAP II is equally pleased with its newly strengthened relationship with The Launch Place, as this co-investment has shown how well the two organizations can work together to provide early stage funds to regional start-ups,” said Clossick.
“We have had a strong relationship with TAP for multiple years and look forward to continuing our work together,” said Eva Doss, The Launch Place President & CEO. “iScribes’ use of technology to improve a health provider’s productivity and accuracy as well as overall patient satisfaction has shown tremendous traction in the last year by the number of customers that have selected to use iScribes for their medical documentation,” said Doss.
iScribes began out of the frustration of co-founder, Dr. Jared Pelo. "Once I started practicing medicine, I quickly saw how burdensome documentation had become. Doctors were burning out. Counterintuitively, technology didn't seem to help. In fact, the adoption of widespread electronic medical records just made matters worse for overworked doctors, nurse practitioners and physician assistants."
Then Jared found something that fixed the problem. "My first medical scribe was a breath of fresh air. I knew every doctor should have one. But also knew it would take technology that worked seamlessly to make scribing accessible," said Dr. Pelo.
Customers believe in this combination of technology and service. Up to this point, many of the same healthcare providers who use iScribes have funded the early stages of the company. "We know the validation that comes with customers who believe in your product so much that they invest," said Christopher McGuire, Co-founder and Head of Sales at iScribes.
"Now we are excited to work with The Launch Place to move us into our next phase of development. With new funds, we will optimize our service and infrastructure for stable growth, while investing in technology that continues to delight our customers and move scribing forward. We especially look forward to the benefits of partnering with an organization with such advising and mentoring expertise here in our backyard," said McGuire.
Dr. Jared Pelo
Christopher McGuire
The Launch PlaceThe Launch Place, from a $10 million grant received from the Danville Regional Foundation in 2012, assists with entrepreneurship and business development, and job creation and retention through its business consulting, mentoring and training, residential and office subsidies, and two seed investment funds in the Dan River region of Virginia.
About iScribesThe iScribes virtual scribe service relieves providers of the documentation burden using technology that fits seamlessly into physician workflows and highly-trained scribes based in the United States. iScribes is HIPAA-compliant and tailored to the needs of providers end-to-end. Providers record patient encounters using a mobile application. Unlike transcription, no dictation is required, and providers can interact with patients naturally. Virtual scribes write and submit documentation directly into the electronic medical record (EMR). Doctors approve the notes and go home on time.Website: www.iscribes.co
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IdeaFest 2017 has Shown to be the Toughest Competition Yet
Wednesday, 22 March 2017 12:00:00 EST
With over 100 applications received for the 4th Annual IdeaFest Business Pitch Competition, it has proven to be the toughest competition to date. Applications were received from as far away as California to West Bengal, India and ranged from sensor based training equipment for athletes to a biotech company that gives farmers precise control over their harvesting schedule. The top twenty applicants will take the stage to pitch for a chance to win $10,000 in prize money.
The day will begin with an Industrial Internet of Things (IIoT) workshop presented by The Launch Place, an entrepreneurship development and business consulting organization, and RIoT, a regional group focused on bringing people together to exchange ideas, learn new technologies and create new opportunities around the Internet of Things (IoT).
The competition will officially begin at 1:00pm, with an opening panel discussing what a company must do to become ‘fundable’ from an entrepreneur’s perspective as well as from the legal perspective, and will end with an awards reception from 4:30-5:30pm. The reception will continue into a RIoT event focused on Industrial Internet of Things (IIoT). IdeaFlow will be held on Thursday, March 30th from 6:30-7:30pm at 2 Witches Winery & Brewing Co. located at 209 Trade Street, Danville. IdeaFlow is a free causal networking event open to anyone where attendees will have the option to pitch their two-minute idea and receive feedback from the audience.
IdeaFest is free and open to the public. Attendees are encouraged to attend any part of the day’s activities. Community members of all ages and professions are invited to attend to learn about Danville’s startup development resources, to network with a wide range of business professionals and to explore entrepreneurship as a career option. Registration is available at www.ideafestdanville.com.
The agenda for the IIoT workshop includes an IIoT overview as well as case study applications on improving facility energy efficiency through IIoT, real-time monitoring for predictive maintenance and deploying sensors to improve capital equipment deployment. It will be geared for plant managers, engineers, maintenance and facility managers, quality control specialists and information system specialists. This is an invite-only workshop for leaders in industry throughout the region. For more information, contact Kelly Fitzgerald at The Launch Place by emailing kfitzgerald@thelaunchplace.org.
The panel of judges for IdeaFest includes James Ramey, Managing Director, Virginia Tech Carilion Innovation Fund in Roanoke/Blacksburg, VA; Bob Creeden, Managing Director, University of Virginia Seed Fund and New Ventures in Charlottesville, VA; Iulian Bobe, Chief Technology Officer, Tyton BioEnergy, in Danville, VA; Autumn Visser, Principal, Attorney, Woods Rodgers in Roanoke, VA; and Eva Doss, President & CEO, The Launch Place, Danville, VA. Audience members will also have the chance to vote on a favorite competitor to win the Audience Choice Award.
Winners of the competition will also be eligible to receive twenty-five hours of free business consulting from The Launch Place. The Launch Place, located in the River District of Danville, assists with business formation, job creation and retention through its business consulting services and investment funding, while having a dual responsibility to recruit and retain entrepreneurs to the Dan River Region. The IdeaFest competition exposes The Launch Place’s services and funds to start-up companies that are ready to establish or seeking early stage capital. The Launch Place could potentially invest in the company from its Seed and Pre-Seed Funds that were established from a $10 million grant awarded by the Danville Region Foundation.
IdeaFest is free to attend thanks to sponsorship support from the Danville Regional Foundation, City of Danville, JTI Leaf Services and The Launch Place.
Additional information about IdeaFest can be found at www.ideafestdanville.com
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IdeaFest 2017 Winners
Monday, 03 April 2017 12:00:00 EST
With over 100 applications received for the 4th Annual IdeaFest Business Pitch Competition, it has proved to be the toughest competition to date. Applications were received from as far away as California to West Bengal, India and ranged from sensor based training equipment for athletes to a biotech company that gives farmers precise control over their harvesting schedule. Twenty entrepreneurs pitched their business concepts to a panel of judges for a chance to win part of the $10,000 in prize money. The winners are highlighted below:
1st Place: Urinary Catheter Solutions
Urinary Catheter Solutions aims to improve the design of the urinary catheter with a twofold solution. Its’ device improves the cleaning process and reduces the profile within the bladder to reduce high amounts of residual urine.
2nd Place: Inventory Connection
Inventory Connection's web application transfers retailers' real-time inventory data to each of their vendors allowing them to stock their supermarket's shelves better.
3rd Place: Spira
Spira grows algae and then bottles it as a delicious prebiotic beverage. Spira grows spirulina in a closed-loop process, harvests it, and presents spirulina in a unique way that keeps it fresh, healthy and alive, preserving a neutral flavor that can be used in a variety of custom food products for a delicious nutrient boost.
Audience Choice: Riveles
Riveles is a commercial real estate data and analytics service provider that will put a wealth of information at users' fingertips, allowing them to make investment decisions faster and easier using unique visual features.
20 Presenting Finalists:
Busy Box, Danville, VA
AgroSpheres, Charlottesville, VA
AthloTech, Research Triangle Park, NC
BlaznTech, Durham, NC
En-counter, Chatham, VA
Just Cause Coffee, Greensboro, NC
Knedia, Elkin, NC
Riveles, Raleigh, NC
CastCade: Your Media, Your Way, Danville, VA
Supervize, Raleigh, NC
Urinary Catheter Solutions, Cary, NC
Intake (formerly Renourish), Raleigh, NC
NEXT Wear: Low-cost smart clothing, Raleigh, NC
Spira, Richmond, VA
SweatHogs, Williamsburg, VA
TechStar Tutors, Midlothian, VA
Mappify, Chalfont, PA
Inventory Connection, Sussex, NJ
Reazone, Durham, NC
HotShoe Instruments, Raleigh, NC
River City TV Video:
WSLS Coverage:
Software solutions popular at Danville entrepreneur competitionBy Colter Anstaett
DANVILLE (WSLS 10) – Four entrepreneurs now have money from The Launch Place in Danville to help develop their ideas.
Friday, The Launch Place held its annual Idea Fest pitch competition.
20 entrepreneurs were selected from over 100 applicants to pitch their ideas to judges.
The winner, receiving $5,000, was Urinary Catheter Solutions. The company is focused on improving the design of urinary catheters.
Second place, receiving $3,000, was Inventory Connection. It is an app that transfers retailers’ real-time inventory to each of the retailers’ vendors in order to help the retailer better stock its shelves.
Third place, receiving $1,500, was Spira, a company that grows and bottles algae so it can be used as a nutrient boost in a variety of custom food products.
The fourth place winner was chosen by the audience and received $500. The company, Riveles, is a commercial real estate data and analytics service that uses unique visual features to help users make investment decisions faster and easier.
“Most of the applications, or the applicants, are really focused on software solutions for certain problems all across; from healthcare to grocery store solutions to actual manufacturing solutions,” The Launch Place CEO, Eva Doss, said.
The winners will have an opportunity to work with The Launch Place to develop a potential business plan for their ideas.
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The Launch Place makes its 13th investment in TiO, an innovative line of home automation solutions
Wednesday, 05 April 2017 12:00:00 EST
The Launch Place announced today that it is investing $250,000 in TiO, to further immerse TiO’s brand in the home building and custom installation market. TiO is common sense home automation that is uncommonly simple, providing a unique approach to automation and control systems.
TiO is an entirely new approach to home automation driven by an "outside in" philosophy that focuses on the customer experience. Designed to be simple and intuitive, TiO truly adapts to the client's lifestyle, unlike other home automation solution that forces the user to adapt to the system. Recently, TiO has been recognized as Sound & Vision Magazine’s “Top Pick” and a 2017 Consumer Technology Association Mark of Excellence winner.
“We are thrilled to announce the Launch Place as an investor in our line of common sense home automation products,” said Sanjay Patel, President and Chief Executive Officer for TiO. “With the support of The Launch Place, we will be able to further expose our brand to builders and custom installers throughout the United States.”
As part of the investment requirements, TiO will expand its operations to the Dan River Region by hiring additional employees with an extensive long-term plan through 2020. The company, in addition to receiving a $250,000 investment from The Launch Place, will also use the organization’s entrepreneur wrap-around services of mentoring, training and coaching and business consulting services.
“Typically an intuitive control ecosystem like the TiO solution are usually reserved for higher-priced and complex home automation systems,” said Eva Doss, President & CEO of The Launch Place. “We are very impressed with the solution they have built as well as the niche market potential for the company to really grow.”
The investment in TiO will be The Launch Place’s thirteenth investment totaling $2.5 million. The Launch Place is co-investing with angels across the south east including VentureSouth. VentureSouth is one of the largest angel investment groups in the United States that manages angel groups and funds comprised of more than 200 accredited investors across the Southeast.
End-users choose how TiO interacts with their lifestyle in ways that have never before been possible. Users create the desired mood in every room of their home, using the actual devices. This Mood is then “Captured” with a single button press on the TiO Home App (a free download for Android and iOS) and can be recalled or edited at any time, and even scheduled to occur at a preset time each day or relative to sunrise or sunset. TiO “Experiences” collect these Moods for easy control of the entire Home. When a user’s mood changes, so does TiO.
About TiOTiO is common sense home automation that is uncommonly simple, providing a unique approach to automation and control systems. TiO products are made in the USA and sold exclusively through authorized installing professionals. TiO is engineered to provide flexibility, ease of installation and scalability that accommodates a variety of residential applications.Website: http://www.tiohome.com
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Media Coverage
Watch announcement by River City TV
Danville Register & Bee by John Crane
WSLS News by Colter Anstaett
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Raleigh Startup TiO Lands $250K from The Launch Place to Expand its Market
Thursday, 04 May 2017 12:00:00 EST
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Start Monday with us: learn about financing options + many more events & happenings!
Friday, 02 June 2017 12:00:00 EST
Click here to read more
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Applications now open for The Big Launch Challenge
Monday, 05 June 2017 12:00:00 EST
$32,000 in Awards
LIVE Competition - October 10, 2017
The Big Launch Challenge is a joint venture between The Launch Place and the First Flight Venture Center designed to showcase technology-related business ideas in a highly competitive environment. The pitch competition includes awards totaling up to $32,000 for the winners. The challenge has a total of two rounds, plus a final LIVE event. The Big Launch Challenge LIVE event is scheduled for 1:00 pm on October 10, 2017, at the Research Triangle Park Headquarters located at 12 Davis Drive, Research Triangle Park, NC.
Awards
1st Place $20,000
2nd Place $10,000
Audience Choice $2,000 -- NEW this year
10 Finalist will be selected this year.
The challenge is an annual event and offers startups valuable business networking and capital opportunities, as well as critical resources. The goal of The Big Launch Challenge is to foster entrepreneurship by offering education, team creation, mentorship, early-stage prototyping, and potential follow-on seed financing. Startups from the nanotechnology, green technology, alternative energy, advanced manufacturing, advanced materials, medical devices, and information technology industries are invited to apply for The Big Launch Challenge’s fourth year.
Applications are now open - Deadline to apply is July 24.
Details from last year’s event are available at https://thebiglaunchchallenge.launchgen.com/.
2016 Judges - View bios here
For additional information, contact Kelly Fitzgerald at kfitzgerald@thelaunchplace.org.
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10 Finalists for Big Launch Challenge
Tuesday, 03 October 2017 12:00:00 EST
One Week Away! Register to Attend
The Big Launch Challenge is a joint venture between The Launch Place and the First Flight Venture Center designed to showcase technology-related business ideas in a highly competitive environment. The pitch competition includes awards totaling up to $32,000 for the winners. The challenge has a total of two rounds, plus a final LIVE event.
The Big Launch Challenge LIVE event is scheduled for 1:00 pm on October 10, 2017, at the Research Triangle Park Headquarters located at 12 Davis Drive, Research Triangle Park, NC.
Register to attend
Cash Award Breakdown:
1st Place $20,000
2nd Place $10,000
Audience Choice $2,000 -- NEW this year
10 Finalists
Dough 4 Degrees
LivingLAB
NeuroVice
PT Wired
Purillume
SharkDreams
SmartBridge
The Waggle Company
The Wed Clique
VitalFlo
Judges
Stephen Clossick, Fund Manager, Triangle Angel Partners
Bob Creeden, Managing Director, University of Virginia Seed Fund & New Ventures; Board Member, The Launch Place Seed Fund
Jan Davis, Board Member, Angel Investor, Executive in Residence; Board Member, Chair, The Launch Place Seed Fund
Paul Nolde, Director of Business Development, NRV.VC
James Ramey, Principal and Fund Manager, Virginia Tech/Carilion Innovation Fund
View Judges Profiles
The challenge is an annual event and offers startups valuable business networking and capital opportunities, as well as critical resources. The goal of The Big Launch Challenge is to foster entrepreneurship by offering education, team creation, mentorship, early-stage prototyping, and potential follow-on seed financing. Startups from the nanotechnology, green technology, alternative energy, advanced manufacturing, advanced materials, medical devices, and information technology industries are invited to apply for The Big Launch Challenge’s fourth year.
Register to attend
Learn more: http://www.thelaunchplace.org/2017-challenge
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2017 Big Launch Challenge Winners
Friday, 13 October 2017 12:00:00 EST
The Launch Place received 59 applications for the Big Launch Challenge and invited the top 10 companies to pitch. To date, $119,000 in awards have been given to 9 companies since the first competition was held in 2013.
VitalFlo, focused on preventing asthma attacks, took home the top prize of $20,000 for first place. PT Wired, which provides a digital solution for the physical therapy industry, was awarded $10,000 for second place. The Audience Choice winner, The Wed Clique, received a $2,000 award.
“Based on the number of inquiries, The Big Launch Challenge has become a highly anticipated event in the region,” said Eva Doss, President and CEO of The Launch Place. “Not only does the competition provide entrepreneurs with prize money, but it also serves as a platform for them to learn about The Launch Place’s entrepreneurship services and investment opportunities in Danville, Virginia.”
VitalFlo is a digital health company that is redefining the standard of care for asthma management. The company utilizes mobile handheld spirometry test and a digital health management app to enable asthmatic patients to track their lung health and asthma medications at home. Luke Marshall, Founder of VitalFlo, is a scientist turned entrepreneur who is passionate about taking scientific innovations from the lab bench into the real world through startups. Despite good medicinal treatments and known triggers, asthma attacks are disruptive to patients' lives, are costly, and occur with little warning. This is because asthma management is plagued by bad data. High-quality lung function data is only accessible in-clinic, where it is collected too infrequently to have predictive value. Current take-home devices are inaccurate and provide low-value data. By enabling the collection of daily lab-quality lung function data at home, VitalFlo can predict patients' risk of an asthma attack and provide actionable recommendations to prevent their occurrence.
PT Wired enables physical therapists to provide better services to patients through software and mobile devices. Vikram Sethuraman, Founder & CEO of PT Wired, is a 2016 graduate from UNC- Chapel Hill, where he majored in Business Administration and co-founded PT Wired during his junior year. Completion of at-home exercise routines is extremely important for a successful recovery in physical therapy, yet only 30-35% of patients adhere to their prescribed routines. This is because current prescription methods suffer from inefficiencies, poor communication, and a lack of patient accountability. Patients are typically given a piece of paper that is easily lost or forgotten, or simply oral instructions. Non-adherence often leads to prolonged rehabilitation timelines, and, in some cases, additional surgical procedures. Furthermore, the lack of patient engagement during out-of-clinic rehabilitation results in increased documentation burden for physical therapists. Physical therapists are disconnected from patients in between clinic visits, and often spend 15-25% of an appointment talking to patients to learn how they have been progressing since the last clinic visit. Afterwards, physical therapists must painstakingly document these discussions in the electronic medical records. PT Wired is a physical therapy SaaS product that enables physical therapists to provide better service to patients while saving time in the process. Patients receive a mobile app with videos, notes, and reminders to guide them through their routine. Physical therapists are able to track patient progress/outcomes and save time with documentation.
The Wed Clique, a product of Techstars startup accelerator program, is an ecommerce platform that enables brides to shop and book their dream wedding venues, with one simple click. Lisa Ganderson, CEO and Co-founder, is a Duke MBA graduate with background experience in finance and venture capital. Couples spend, on average, 500 hours planning their weddings. The first step in this process is to browse Pinterest and other visual inspiration blogs. Couples cannot purchase the goods or services from these images, and instead are left individually sourcing over 15 professional vendors to recreate their favorite images. In addition, the content they are recreating, was produced by vendors that will never get credit or a booking for their work. These images aren’t driving revenue back to vendors, because they aren’t actually bookable. The Wed Clique is putting a buy button on customized styled shoots, creating localized, auto-curated vendor packages matched to a bride's unique vision for her event. With the One-Click Wedding platform, a bride can book the exact vendor team that has already worked together at her venue, and created the exact style of wedding she wants. Vendors, in turn, get booked more frequently, and earlier in the planning process creating increased revenue and business predictability.
10 Finalists
Dough 4 Degrees - Dough 4 Degrees is an online education center that teaches students how to obtain scholarships enabling them to graduate college debt free.
LivingLAB - LivingLAB is a platform for easily finding high quality roommates with mutual interests for rental property.
NeuroVice - NeuroVice is developing The Protector Against Tongue Injury (PATI), a symptom-management, oral device technology that prevents, oral trauma, tongue biting, and drooling during seizures.
PT Wired - PT Wired, the fully feature digital solution to the physical therapy industry that enables physical therapists to provide better services to patients through software and mobile devices.
Purillume - Purillume is a LED lighting Startup Company that is committed to helping people create and enjoy superior, personalized lighting environments. Purillume focuses on providing bright, high quality natural light to indoor spaces.
SharkDreams - SharkDreams is a digital healthcare company that is redefining the way patient health is monitored by combining software, hardware technology, cloud-based data analytics, and artificial intelligence capabilities.
SmartBridge - Smartbridge is an online platform that gives cancer patients 24/7 remote access to quality-verified oncologists, on a freelance basis.
The Waggle Company - A tech-enabled, on-demand dog walking and pet care company.
The Wed Clique - The Wed Clique is an ecommerce platform that enables brides to shop and book their dream wedding venues, with one simple click.
VitalFlo - VitalFlo is a digital health company that is redefining the standard of care for asthma management. The company utilizes mobile handheld spirometry test and a digital health management app to enable asthmatic patients to track their lung health and asthma medications at home.
Judges
Stephen Clossick, Fund Manager, Triangle Angel Partners
Bob Creeden, Managing Director, University of Virginia Seed Fund & New Ventures; Board Member, The Launch Place Seed Fund
Jan Davis, Board Member, Angel Investor, Executive in Residence; Board Member, Chair, The Launch Place Seed Fund
Paul Nolde, Director of Business Development, NRV.VC
James Ramey, Principal and Fund Manager, Virginia Tech/Carilion Innovation Fund
Andy Schwab, President, First Flight Venture Center; Founder & Director at RTP Capital
View Judges Profiles
The challenge is an annual event and offers startups valuable business networking and capital opportunities, as well as critical resources. The goal of The Big Launch Challenge is to foster entrepreneurship by offering education, team creation, mentorship, early-stage prototyping, and potential follow-on seed financing. Startups from the nanotechnology, green technology, alternative energy, advanced manufacturing, advanced materials, medical devices, and information technology industries were invited to apply for The Big Launch Challenge’s fourth year.
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Governor McAuliffe and Senator Warner Launch ‘Virginia is for Entrepreneurs’ Initiative
Monday, 11 December 2017 12:00:00 EST
ALEXANDRIA – Governor Terry McAuliffe and U.S. Senator Mark Warner today announced the launch of the Virginia is for Entrepreneurs (VA4E) initiative, an effort to better match entrepreneurs with potential investors across regions, backgrounds and industries. V4E’s first initiative will feature a standardized online application to better link entrepreneurs with more than 50 investment firms and potential funders to help launch or grow their Virginia-based businesses.
Partners in the network includes a number of universities including Virginia Tech and the University of Virginia’s College at Wise ; angel investment groups such as 757 Angels and Shenandoah Valley Angel Investors; venture funds including Revolution and Village Capital; and statewide organizations including the Center for Innovative Technology .
“The Commonwealth has long been home to innovators and entrepreneurs who make up the backbone of our new Virginia economy,” said Governor McAuliffe. “That’s why it’s so important that we continue to expand our support for promising new ventures. The Virginia is for Entrepreneurs initiative will open new doors for local start-ups by increasing access to the capital they need to thrive and create good-paying jobs.”
“While Virginia boasts a number of innovative communities and ecosystems across the Commonwealth, a consistent problem has been connecting promising entrepreneurs with capital available to support their vision,” said Senator Mark Warner. “As part of a broader effort to strengthen the connective tissue between Virginia’s startup communities, this tool will help founders evaluate their product fit and maturity, and connect them with venture and angel investors across the Commonwealth.”
“Having a single point of entry to a statewide capital network will greatly enhance the likelihood that Virginia startups will be able to secure the funding they need without having to rely on out-of-state resources,” said Secretary of Technology Karen Jackson . “And for those in regions that lack an organized venture community, access to these funds will open up a myriad of entrepreneurial opportunities.”
“Whether you're an agriculture entrepreneur in Abingdon or a cyber-security entrepreneur in Arlington, if you've got a great idea and work hard, you should be able to succeed,” said Ross Baird, founder of the venture firm Village Capital and one of the organizers of the V4E initiative. “Today, too often the best ideas don't even get the opportunity to start because of who they are or where they come from. Virginia is for Entrepreneurs is testing ideas statewide to fix that.”
The pilot initiative announced today that the online application was successfully tested by more than 200 entrepreneurs and investors statewide at the TomTom Festival in Charlottesville and by the Roanoke-Blacksburg Technology Council.
The initiative will help build strategic sectors in Virginia. For example, one of the initial areas of focus for the investment portfolio will be a state-led pilot program to promote the growth of early stageunmanned aerial systems companies , which has been identified as a cornerstone industry for the New Virginia Economy.
For more information, please contact Ross Baird, ross@vilcap.com; Paul Hirschbiel, phirschbiel@edencapital.net; or visit va4e.org.
Press Release Contacts: Office of the Governor: Brian Coy, Brian.Coy@governor.virginia.gov
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The Launch Place is a founding Partner of the VA4E Initiative.
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IdeaFest Applications are now open
Thursday, 04 January 2018 12:00:00 EST
5th Annual IdeaFest Business Pitch Competition - March 29
IdeaFest is a Business Pitch Competition where 20 finalists will pitch their startup idea to a panel of judges and a live audience. The top three competitors will be awarded $5,000 for first place, $3,000 for second place and $1,500 for third place. Audience members will also have the chance to vote on a favorite competitor to win the $500 Audience Choice Award.
Winners of the competition will also be eligible to receive twenty-five hours of free business consulting from The Launch Place. The Launch Place, located in the River District of Danville, assists with business formation, job creation and retention through its business consulting services and investment funding, while having a dual responsibility to recruit and retain entrepreneurs to the Dan River Region. The IdeaFest competition exposes The Launch Place’s services and funds to start-up companies that are ready to establish or seeking early stage capital. The Launch Place could potentially invest in the company from its Seed and Pre-Seed Funds that were established from a $10 million grant awarded by the Danville Region Foundation.
Awards
1st Place $5,000
2nd Place $3,000
3rd Place $1,500
Audience Choice $500
IdeaFest is free and open to the public. Attendees are encouraged to attend any part of the day’s activities. Community members of all ages and professions are invited to attend to learn about Danville’s startup development resources, to network with a wide range of business professionals and to explore entrepreneurship as a career option.
Apply to Pitch your Business Idea - DEADLINE February 13
Register to Attend IdeaFest - March 29 at 1pm
For additional information, contact Kelly Fitzgerald at kfitzgerald@thelaunchplace.org.
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