TruClinic goes to MIT

May 26, 2014 Village Capital-­‐VentureWell Announces Health Technology Companies Selected for Boston Health Accelerator Program -­‐ with a Twist

Companies will converge to collaborate and choose best candidates for seed funding

Village Capital-­‐VentureWell is a training program and funding opportunity for high performing early stage companies addressing a diverse range of health and healthcare challenges. The program focuses on accelerating the development of the ventures with a focus on addressing health challenges faced by low-­‐wealth Americans. Different from other early stage accelerators, this program uses a “peer-­‐driven” approach where teams participating in the training use specific business criteria to select two of their fellow companies for funding from a pool of pre-­‐committed capital.

This program is a collaboration between Village Capital and VentureWell, with support from MIT H@acking Medicine. The program uses Village Capital’s peer-­selected capital approach along with industry mentors to accelerate seed stage ventures for social impact. The program is part of the broader SOURCE initiative of Village Capital, the Hitachi Foundation, and Investors Circle.

Partners from venture development and the health care industry will join the Village Capital-­‐VentureWell Health program to offer industry perspectives, coaching and mentoring to these early stage teams. The program will draw from some of the most prominent organizations in the Boston venture community and health care ecosystem.

When & Where:

On May 18-­‐21 in Cambridge, Massachusetts 15 early stage companies convened in the first of 3 sessions in a 4 month process to vet a range of health technologies with the hopes of being one of two companies who will secure up to $50,000 to support the continued growth and development of their commercialization efforts. The companies are addressing medical problems spanning from diabetes to stroke to breast cancer, and health care issues addressing medical record sharing, billing, and medication delivery.

Who:

The cohort includes includes:

  • TruClinic: A secure web-based telemedicine portal 

  • Rimidi Diabetes: diabetes self-­‐management

  • Doctible: Price shopping for health procedures

  • Kohana: Wearable breast pump for working moms

  • eyeMITRA: Bringing retinal exams to routine care.

  • Healthy TXT: Automated follow-­‐up messaging for patients and physicians

  • EagleHealth: A wearable device to to prevent strokes

  • HermesIQ: Extracting clinical information from scanned documents in real-­‐time

  • Innoblative Designs: Treating early-­‐stage breast cancer faster and ionizing radiation

  • Dock Technologies: Disposable, visible reminders to help nurses improve time-­‐based quality measures

  • PEURegen: A biodegradable, synthetic skin scaffold for deep skin wounds

  • Semantic MD: Helping radiologists be more efficient and accurate via big data analytics

  • Eulysis UK Ltd: Single container system for integrated reconstitution of dehydrated biologics

  • Twiage: Accurate information about incoming patients ER patients

  • BeTH | Benevolent Technologies for Health: Reducing the cost and extending the life of prosthetics

    About Village Capital:
    Since 2009, Village Capital has provided training and investment in seed-­‐stage social entrepreneurs around the world in the area of energy, environmental sustainability, agriculture, health, and education. Village Capital’s partner VentureWell provides training and access to capital to high performing entrepreneurial teams in the early stage of commercialization Five of its grantees are the cohort of fifteen teams in the Village Capital-­‐VentureWell program.

    Village Capital sources, trains and invests in seed-­‐stage social entrepreneurs around the world. Since 2009,Village Capital has served over 350 impactful ventures worldwide, building disruptive innovations in energy, environmental sustainability, agriculture, health, and education. Village Capital has launched 23 programs in 6 countries to-­‐date and made 32 peer-­‐selected investments. Graduate enterprises have raised more than $40 million in follow on funding to date, creating 5,000 jobs and serving 5 million customers worldwide. www.vilcap.com

    About NCIIA:
    VentureWell is part of the National Collegiate Inventors & Innovators Alliance (NCIIA) which catalyzes positive social and environmental impact through invention and technological innovation by providing funding, training and mentoring for university faculty and student innovators. With support from The Lemelson Foundation, the National Science Foundation, the U.S. Agency for International Development, the Bill and Melinda Gates Foundation, and a membership of nearly 200 colleges and universities from all over the United States, NCIIA engages approximately 5,000 student entrepreneurs each year, leveraging their campuses as working laboratories for invention and innovation and incubators for businesses, and ultimately helping them to bring their ideas to market. www.nciia.org. 

For more information, please contact Village Capital: Lily Bowles, lily@vilcap.com; VentureWell: Jo Ellen Warner, jwarner@nciia.org, 202-­‐420-­‐9297; TruClinic: Preston Robinson, probinson@truclinic.com, 801-610-1895