SOURCE is an initiative that links entrepreneurs and investors focused on social challenges that affect low-wealth Americans.
FOUR VENTURES AWARDED TOP HONORS AT RALEIGH-DURHAM HEALTH PITCHFEST
Selected by peer ventures and investors as top businesses that address health issues
RALEIGH-DURHAM, NC (June 23, 2015) – SOURCE: Solutions from Our Country’s Entrepreneurs today announced that ARMR, Forecast Health, INRFOOD, and Lowcountry Street Grocery were named as the top ventures with business solutions that address health challenges faced by low-wealth individuals at the SOURCE Forum: Healthcare in Raleigh-Durham Pitchfest.
Forecast Health and INRFOOD were recognized by investors as the most investment-ready companies. Forecast Health delivers analytics and risk management solutions to hospital systems and INRFOOD produces an app that analyzes nutritional value in food. ARMR, a company with a hemorrhage control system that saves lives after traumatic injuries, emerged as the most promising venture as voted by their fellow Pitchfest ventures. Lowcountry Street Grocery, a grocery that delivers local produce to food deserts, was recognized by the Pitchfest audience as the venture with the highest social impact potential.
The June 18th event featured eleven ventures (many from the Raleigh-Durham area) that offer improved access to healthcare and treatment for low-wealth individuals. The entrepreneurs were selected from dozens of entries to showcase their businesses in front of an audience of impact investors, including Investors’ Circle members, venture capitalists, and healthcare leaders.
“It’s clear that current health services and resources do not support the vast health challenges faced by many people in North Carolina ,” said Steve Monti, an Investors' Circle member and managing director of Solidarity Capital. “This SOURCE event is the first step in fostering conversation among investors and local entrepreneurs who are poised to tackle these problems.”
Keval Mehta, founder and CEO of INRFOOD, found value in participating in the SOURCE event. “We connected with some amazing entrepreneurs and investors. A number of the ventures that participated came out of the event with some new partnerships, introductions, and even potential investments.”
SOURCE is a first-of-its-kind collaboration between The Hitachi Foundation, Investors' Circle, and Village Capital that connects entrepreneurs with the investment capital, mentoring, and support needed to grow their businesses. The seven other ventures that participated in the SOURCE Pitchfest were:
LIA DIAGNOSTICS AND INNOVAJOY AWARDED TOP HONORS AT PHILADELPHIA HEALTH PITCHFEST
Selected by peer ventures as top businesses that address systemic healthcare problems
PHILADELPHIA, PA (June 9, 2015) – SOURCE: Solutions from Our Country’s Entrepreneurs today announced that LIA Diagnostics and InnovaJoy were named the top two health ventures with business solutions that address challenges faced by low-wealth individuals at the SOURCE Philadelphia Healthcare Pitchfest. LIA Diagnostics was further recognized by Investors’ Circle Philadelphia members as the most investment-ready company and by the Pitchfest audience as the venture with the highest social impact potential.
Philadelphia-based LIA Diagnostics introduced their flushable pregnancy test designed by women for women. The test will be easier to use than traditional pregnancy tests and is made from flushable materials that offer users greater privacy and sustainability at a lower cost. InnovaJoy, also from Philadelphia, showcased their mental health game platform for people with traumatic brain injuries. The product, in prototype stage, aims to improve patient mood and adherence while giving health providers data about each user. The platform will soon be piloted at three Philadelphia-area trauma centers.
The June 3rd event featured eight ventures (many from the greater Philadelphia/Pennsylvania area) that offer improved access to healthcare and treatment for low-wealth individuals. The entrepreneurs were selected from dozens of entries to showcase their businesses in front of an audience of impact investors including Investors’ Circle Philadelphia members, venture capitalists, and healthcare leaders.
SOURCE is a first-of-its-kind collaboration between The Hitachi Foundation, Investors' Circle, and Village Capital that connects entrepreneurs with the investment capital, mentoring, and support needed to grow their businesses. The participating ventures focus on a range of healthcare challenges that disproportionately burden low-wealth Americans. The six other ventures that participated in the Pitchfest are:
BetweenMD – a clinically validated solution for chronic disease management in a PaaS model.
dbaza Health – a health IT company that combines chronic disease management, behavioral and learning sciences, and mobile technology to create digital therapies.
eCareDiary – an online resource that provides secure tools, content and social networks for family caregivers.
Klio Health – helps healthcare providers coordinate care for people with multiple chronic conditions by engaging patients through self-reporting and automated, personalized feedback.
NonnaTech – the first digital health solution that provides real-time data that shows changes in behavior (or the absence of behaviors) that signal physiological changes in patients.
Symple – an app that allows patients to understand the ebb and flow of their symptoms over time and to confidentially report them to their care team.
The next SOURCE Forum: Healthcare Pitchfest is June 18 in Raleigh/Durham where up to ten ventures will meet and pitch their businesses to impact investors from the Raleigh/Durham area.
Apply for the 2015 SOURCE Healthcare Venture Forums!
SOURCE, a collaboration between The Hitachi Foundation, Village Capital, and Investors’ Circle, is launching two pitchfest opportunities in Philadelphia and Durham aimed at uncovering entrepreneurial solutions that address the challenges low-wealth individuals encounter at the intersection of health and wealth. For example, low-income individuals are five times more likely to report being in poor health compared to those with higher incomes. We are especially interested in entrepreneurs with solutions that will increase and/or improve access to healthcare and treatment for low-wealth individuals.
We are seeking 12 to 15 innovative ventures to participate at each of the full-day events that will include a capital roundtable with local investors, a sample of Village Capital’s curriculum, and one-on-one mentoring from investors.
Each forum will culminate in a pitchfest to leading investors in the two regions. Three $1,000 prizes will be awarded: one through a peer-selection process, one by Investors’ Circle’s local angel investors, and an audience vote that honors mission alignment.
The Philadelphia Forum will be held June 3rd and the Raleigh/Durham Forum held June 18th.
The deadline to apply for the Philadelphia forum is May 14th, 2015 and June 1st, 2015 for the Raleigh/Durham forum.
To apply, click here: Healthcare in Philadelphia and Raleigh/Durham
To learn more about these upcoming forums, please contact Allyson Plosko, Associate, Healthcare, at email@example.com.
What is SOURCE?
The SOURCE initiative connects entrepreneurs building market-based solutions with the investment capital, mentoring, and support needed to grow their businesses.
SOURCE works with groups of roughly fifteen entrepreneurs in cohorts focused on specific problems that lend themselves to entrepreneurial solutions.The initiative engaged the entire value chain of customers, policymakers, corporate partners, and local assets to find viable entrepreneurial solutions to societal issues.
SOURCE brings local investors together with entrepreneurs. At the conclusion of each three month cohort, the entrepreneurs select the two most promising businesses from among their peers for investment capital.
SOURCE builds a pipeline of high-growth, solutions-based companies and strengthens the entrepreneurial ecosystems in strategic U.S. regions.
SOURCE seeks to create a greater awareness in America about the important role businesses play in the nation's economic and social fabric.
Partners for the upcoming Health Forums:
5.4.15 2015 SOURCE Forums: Healthcare in Philadelphia & Raleigh/Durham
2.26.2015 Impact Investor Perspective: Ed Briscoe
2.9.15 $100,000 Awarded to iUNU and FIn Gourmet for Agricultural Business Solutions
2.4.15 FIN GOURMET: THE FUTURE ZAPPOS OF FISH PROCESSING
10.7.14 Village Capital Partners with Blue Sky Network, Radicle Capital, VentureWell, and SOURCE Initiative to Launch Accelerator Program for Agriculture Startups in Louisville
10.2.14 $100,000 Awarded to e-Chromic Technologies and PAX Pure for their Clean Tech Business Solutions
9.23.14 $100,000 Awarded to Rimidi Diabetes and TruClinic for Health Business Solutions that Benefit Patients and Providers
7.3.14 Forbes: New Company Helps Low-Wealth Families Start Investing For Free
6.30.14 $100,000 Awarded to eMoneyPool and Wisebanyan for their Business Solutions that Benefit Low-Income Americans
4.8.14 SOURCE Initiative Links Entrepreneurs and Investors to Bolster Businesses that Benefit Low-Wealth Americans - View the Press Release