VisionTech Partners

Tag: Indiana angel investing

  • SIMBA Chain: Blockchain’s Next Blockbuster?

    SIMBA Chain: Blockchain’s Next Blockbuster?

    VisionTech Angels’ Executive Director Ben Pidgeon recently sat down with Joel Neidig, CEO of SIMBA Chain, to learn more about his company, how it’s disrupting the block chain space and the opportunity that will be presented to our angel investors during October Pitch Week. This is our first pitch company with Notre Dame ties and it’s an impressive one at that. Read on!

    BP: We’ve had other pitch companies with university ties, but never one from Notre Dame. What’s the connection?
    JN: When you think Notre Dame, you probably think football, but a growing number of people are recognizing the robust tech transfer opportunities in South Bend. In 2017, I licensed technology from Notre Dame that resulted in a 3D metal printing software company called Atlas 3D. That company is doing really well so we went back to Notre Dame’s Center for Research Computing and licensed the blockchain technology platform that is the core of SIMBA Chain, our new venture in the blockchain space.

    SIMBA Chain was founded and incorporated in 2017 by co-founders Jarek Nabrzyski, director of Notre Dame’s Center for Research Computing, Ian Taylor, a Notre Dame research professor and computational scientist; Gary Neidig; and me. The technology platform was originally developed for DARPA, the U.S. Defense Advanced Research Projects Agency, which awarded a grant to the Center and ITAMCO to develop a secure, unhackable messaging and transaction platform for the U.S. military.

    BP: Block chain is a hot technology space. What is SIMBA Chain’s play?
    JN: Blockchain is best known for underpinning cyber currencies like Bitcoin, but other industries like manufacturing supply chains, health care, energy/smart grids, music licensing, law and government, offer significant opportunities for leveraging blockchain. Up until now, developing blockchains has been very expensive and complex; developers typically have to know multiple languages to code. SIMBA Chain is disrupting the space by offering developers and business and government enterprises a cloud-based, blockchain-as-a-service (BaaS) platform that enables users with even minimal technical skill sets to easily and affordably create and implement dapps (decentralized applications) for specific user bases. To put it simply, SIMBA Chain is to blockchains as WordPress is the website development world.

    BP: Why do you think users, including those less familiar with blockchains, will be excited about what you’re doing?
    JN: Blockchains enable secure, direct connections between users and providers. For example, a hospital and its patients, a financial institution and loan holders. Users and providers share resources – they are linked together in a “chain.” This has distinct advantages. First, a blockchain is decentralized; there is no central data server or “middle man” controlling the flow of data and transactions. Eliminating the central hub also means there’s no longer a single point of failure in the event of hacking or other cyber threat. The blockchain can’t be altered; once a transaction is verified, it’s combined with others to create a new block. The data is very secure, and less subject to cyber threats, which makes blockchains attractive for any industry handling sensitive personal, financial, or mission critical data subject to cyber threats.

    What’s exciting about SIMBA Chain is we’re making blockchain technology accessible in terms of development, cost, speed, and security to those who want to deploy it. We eliminate third parties so users and providers connect more efficiently, have more control over the relationship and a lower transaction cost. Our platform is also very flexible and user friendly. Users choose their network, file storage, create their smart contract, and they’re ready to deploy their dapp.

    BP: In addition to DARPA, Notre Dame and ITAMCO, you have an impressive list of partners.
    JN: We sure do. When Microsoft, NavAir, and the U.S. Department of Energy came on board, we knew we had something. SIMBA Chain is also a “Partner of Choice” of the Government Blockchain Association, which is instant credibility among government enterprises, and has partnered with BlockGeek, which has 100,000 members who are developers.

    BP: You have a very active pipeline. Tell us about it.
    JN: We are actively recruiting developers on our website and the response is great; developers are the early adopters. Our enterprise client list is strong and includes Dow, HealthSpace and EY, which is remarketing to their clients. We’re in discussions with other recognizable enterprises, both corporate and government. Currently, we have more than $1 million in revenue on the books. 

    BP: What is your revenue model?
    JN: Very simple. Like SaaS, our revenue model is subscriptions for developers with the cost based on the number of transactions per month. For business and government enterprises, we offer custom engagements.

    BP: What’s your goal for VisionTech Angels Pitch Week, October 22-25?
    JN: Getting in that car with you and touring Indiana! (Laughs) Pitch Week is a great opportunity to tell our story, answer questions, and ultimately, move us closer to closing a $2 million investment round. While in its infancy, the blockchain industry is moving quickly and we need to finalize our go-to-market strategy, make key hires and assemble what will be a massive team of developers. SIMBA Chain represents a great opportunity to get in on the ground floor of what is projected to be a $2.3 billion industry by 2021.

    VisionTech Angels October Pitch Week is open to our members and their guests. If you are an accredited investor and would like to attend, please contact Ben Pidgeon at bpidgeon@visiontech-partners.com.

  • Former FDA regulatory scientist joins Pearl Pathways, a VisionTech Sponsor

    INDIANAPOLIS, INDIANA – January 18, 2018— Pearl Pathways announces the hiring of Robert Seevers, PhD as senior advisor to serve biopharmaceutical companies.

    Seevers brings over 40 years of experience in pharmaceutical research and development for both large and small molecules. His expertise includes CMC regulatory, cold chain shipping, setting global specifications, quality by design (QbD), global regulatory submissions, and interactions with global regulatory agencies. His knowledge spans all major therapeutic areas with specific expertise in CNS, endocrine, metabolism, autoimmune, oncology, radiopharmaceuticals, and drug delivery systems. Seevers’ robust clinical research experience includes acting as a primary investigator, vice-chair of an Institutional Review Board, FDA reviewer/team leader, and medical writer.

    Seevers’ career includes eight years at the United States Food and Drug Administration (FDA). At FDA, Seevers served as a team leader responsible for managing a team of reviewers for the evaluation of CMC sections of INDs, NDAs and BLAs. Prior to joining Pearl Pathways, Seevers spent 16 years with Eli Lilly and Company in Regulatory Affairs, where he led the regulatory CMC submission strategy for drugs in preclinical development through their NDA/MAA submission and the approval process for both small and large molecules.

    As senior advisor at Pearl Pathways, Seevers is responsible for the development of the regulatory strategy for early through late-stage regulatory filings of both large and small molecules, interactions with global regulatory agencies, leading cross-functional CMC development teams, and helping clients identify product development vendors (e.g. CROs, CMOs, contract laboratories). He  will serve on Pearl IRB, an AAHRPP accredited Independent Review Board.

    Seevers is a member of the United States Pharmacopeia Packaging, Storing, and Distribution Expert Committee; acts as a Stability Consultant for the World Health Organization (WHO); speaks regularly at nation and international life science conferences; and continues to be an active writer of industry publications.

    Pearl Pathways President and CEO DIana Caldwell shares, “Our clients will benefit from Robert’s unique life science portfolio as an ex-FDA regulator coupled with extensive leadership experience within the biopharmaceutical industry. His dual-sided industry experience will be invaluable for our clients to navigate a variety of regulatory compliance challenges in both large multi-national companies and small startups. He brings expert technical knowledge; we are thrilled to have Robert join our team.”

    Pearl Pathways is a sponsor of VisionTech Partners/VisionTech Angels, Indiana’s most active angel investing group with chapters in Bloomington, Fort Wayne, Greater Lafayette, Indianapolis and a physician-led chapter called AngelBOM.

    Contact: Waylon Wright
    Pearl Pathways
    (317) 602-5479
    wwright@pearlpathways.com

  • VisionTech Partners’ Helmer Named to WorkHere’s Board of Directors

    VTP David Helmer picture

    INDIANAPOLIS, Ind. (April 19, 2017) – Angel investors bring two key things to a start-up company’s table: investment capital and human capital. In naming VisionTech Partners’ general partner David Helmer to its Board of Directors, Indianapolis-based WorkHere has secured both after receiving investment support from VisionTech Angels earlier in 2017.

    Helmer, who is also the owner and co-founder of Helmer Scientific, joins the WorkHere Board of Directors after consulting on a pro bono basis with the mobile recruiting/job search app company since February. WorkHere has succeeded in raising more than $2 million in private investment capital, a portion of which is from VisionTech Angels and the VisionTech Partners investment fund. The company will use the funds to fuel its expansion in additional metro areas beyond Indiana over the next 12 months.

    “We are so pleased David agreed to taking a more formal role with our company,” said WorkHere President and CEO Howard Bates. “Our relationship with VisionTech began much like other start-up companies, with a pitch to potential investors. Apparently, they liked what our mission, vision and managements positive past track record.”

    Added Bates, “Having the investment support of VisionTech Angels and now the counsel of David, who is a very bright, seasoned entrepreneur, businessperson, and community and global advocate, as well as David’s extensive international business experience is very important to a high-growth company like WorkHere.”

    WorkHere is one of 20 early expansion phase companies, the majority of which are based in Indiana, in VisionTech’s investment portfolio. Helmer, a general partner in VisionTech since 2014, said WorkHere caught his attention when they first introduced their company to the statewide angel-investing group in 2016.

    “What made WorkHere attractive as an investor is that it solved a big problem for employers and workers primarily in the manufacturing, heath care and service industries—how to connect people to jobs efficiently. As an employer, I know exactly how difficult it is to have a pipeline of qualified people when you’re hiring,” Helmer explained.

    Helmer added that he is impressed at how quickly people have adopted the GPS-enabled app. “After a year in business, WorkHere has 43,000 users in Indiana alone and is adding upwards of 500 people a day to their user base. It will definitely be exciting to see how people respond in other major metropolitan areas like Chicago and Cincinnati.”

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  • VisionTech Portfolio Company NeuroFx Clears FDA Hurdle for Stroke Drug Candidate

    NeuroFx-logo-final-large

    The American Heart Association reports that stroke is a leading cause of long-term disability, claiming the life of someone in the United States every four minutes. There are very few treatment options for stroke, and the window of time to deliver treatment is very small. The National Institutes of Health estimates the total cost of stroke in the United States ranges from annual health care expenses of $15 billion to $30 billion when the patients’ lost wages are included.

    When VisionTech Angels was approach by NeuroFx, an Indianapolis-based regenerative medicine company keithfounded by successful Indiana University entrepreneur Dr. Keith March about a potential therapeutic solution to stroke, we were quick to listen. Here’s why.

    NeuroFx is developing an innovative, cell-free therapeutic factor concentrate derived from adult adipose stem cells called NFx101. This drug candidate has demonstrated, in animal tests, to have great potential to halt brain injury caused by stroke, promote regeneration and repair of brain tissues, and, most impressively, re-establish normal brain function. After thorough due diligence and interest from VisionTech Angels members, we went forward with NeuroFx this year.

    Since our investment, NeuroFx has had encouraging interaction with the U.S. Food and Drug Administration (FDA) A recent pre-IND (Investigational New Drug) meeting established that the FDA agrees with NeuroFx’s manufacturing and research plans, paving the way to the company’s its first human clinical trial of NFx101. The FDA also indicated that safety data collected during the first IND study—a step critical for a new therapeutic’s path to clinical trials—would be considered as contributing valuable safety data for selected future indications prioritized by NeuroFx.

    Passage of this major milestone led Elevate Ventures to extend a deal that aims to close NeuroFx’s Series A round. The offer promises an investment upon commitments filling the entire raise, thus de-risking the offering for new investors. The remaining total funding ($1.2 million) ensures manufacturing scale up, completion of the IND-enabling study and IND submission. Dr. Jim Hermiller, an interventional cardiologist at St. Vincent, has agreed to be the lead investigator of NeuroFx’s Phase 1 trial, which will evaluate the safety of NFx-101 and provide an approach to identify early signals of efficacy.

    VisionTech and other qualified investors interested in more information about NeuroFx should contact Karen Momper at kmomper@neurofx.co. NeuroFx will be presenting to VisionTech’s new affiliate investing group, AngelBom, this month.

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  • VisionTech Angels Member Profile: Keith Davis, Biotech Researcher, Entrepreneur, Angel Investor

    Keith DavisVisionTech Angels enjoys a very diverse membership with one thing in common: a passion of investing and supporting promising start-up companies. While many of our members come to angel investing from business, Keith Davis, a member of our VisionTech Angels Bloomington chapter, has taken a different journey.

    Keith joined Indiana University in 2014 as the director of the Johnson Center for Innovation and Translational Research at Indiana University (IU) Bloomington. He’s also a senior research scientist in IU’s Biotechnology Program focused on developing cancer chemoprevention agents and therapeutics. Prior to joining IU, Keith was the director of the Owensboro Cancer Research Program in the James Graham Brown Cancer Center at the University of Louisville.

    Keith is also a seasoned entrepreneur. From 1999 through 2006, he was affiliated with Icoria, Inc., and its predecessor, Paradigm Genetics, holding positions that included director of plant research, vice president of agricultural biotechnology and executive consultant. In 2005, Icoria sold its agricultural division to Monsanto for $6.75 million and its remaining operations to Clinical Data for about $12.75 million. Today, Keith is CEO of a start-up company, Planta BioProducts, which is developing nutraceutical products based on his research.

    As a biotech researcher, entrepreneur and angel investor, Keith’s perspective is unique. Here’s our conversation:

    VTA: What got you interested in angel investing?
    KD: I had several reasons. First, the unpredictability of the stock market and the fact I have significant assets already invested there. I have some exposure to real estate, but don’t find that a particularly interesting or exciting investment. I wanted to have a portion of my portfolio in high risk/high return investments that I could pick with the maximum amount of transparency possible. Another important factor is that my current position at IU as director of the Johnson Center for Innovation and Translational Research is focused on helping faculty commercialize their research innovations. As such, I advise faculty on whether their concept/technology is sufficient to start a company, and what options are available to pursue this. Thus, I felt it was critical to get integrated into the local investor community and found no better way than to work with VisionTech Angels.

    VTA: What do you like most about angel investing with VisionTech Angels?
    KD: Although I’ve only been a member since May 2016, it’s clear that the group is well organized and has a number of experienced investors with diverse backgrounds and knowledge. I particularly like the team approach to doing diligence on potential investments.

    VTA: What have learned from angel investing that you may not have otherwise?
    KD: I’m learning new ways of presenting a company’s materials to potential investors, as well as the mechanics of systematically evaluating a start-up company in areas outside my expertise, biotech.

    VTA: How does your current profession help inform your angel investing?
    KD: Since one of my job functions is to help faculty start companies, I get to interact with entrepreneurs routinely and see companies at their very early stages. I also work with larger companies that are interested in working with faculty and their companies to co-develop technologies. It also allows me to continue to grow my expertise in evaluating intellectual property and managing IP portfolios.

    VTA: How many investments have you made with VisionTech Angels?
    KD: One so far: SonarMed, a sophisticated airway management system for health care.

    VTA: What is the biggest value add of being a VisionTech Angels member?
    KD: As a member of VisionTech Angels, you get an organized way to make angel investments with a knowledgeable support group, which is much, much better than trying to do one offs on my own. Another major value add is that you have a chance to see many more opportunities than you would as an individual investor or as a member of a smaller group.

     

     

     

     

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  • VisionTech Taps Pidgeon as Executive Director as Interest in Startups Booms

    Ben Pidgeon VisionTechINDIANAPOLIS, Ind. (August 25, 2016) – With five angel investing chapters across Indiana and another set to launch, nearly 90 angel investors, and close to 20 portfolio companies, VisionTech Partners/VisionTech Angels have emerged as one of the Midwest’s most active investors in early growth startup companies. To take advantage of the “startup boom” in Indiana and across the Midwest, VisionTech has hired its first executive director, Benjamin (Ben) Pidgeon, a 15-year veteran of the banking industry and current president of the Venture Club of Indiana.

    Commenting on Pidgeon’s hiring, VisionTech Founder and Managing Director Oscar Moralez said Pidgeon’s background in finance and investing as well as his direct involvement in Indiana’s startup community makes him the perfect person for the job of executive director. “Ben joins us at a time when our state and our organization are taking leading roles in business startups, innovation/commercialization and job creation. VisionTech Angels is rapidly approaching 100 members and as our portfolio of investments continues to grow, we need an executive director with Ben’s experience to help us optimize our growth, continue to recruit investors and attract and evaluate deals for our organization.”

    Prior to joining VisionTech, Pidgeon served as vice president and private banker at Stock Yards Bank and Trust in Indianapolis. He has also worked with MainSource Bank and M&I Bank/BMO Financial, both in Indianapolis; Bank One in Greenwood, and Oak Street Mortgage in Carmel. In addition to serving as president, Pidgeon serves on the Board of Directors of the Venture Club of Indiana; has served as president and treasurer of the Institute of Management Accountants, Indianapolis Chapter; and is former member of the Woodruff Place Foundation Board of Directors.

    A native of West Lafayette, Indiana, Pidgeon earned a Bachelor’s of Science in Economics from Purdue University and a Master’s of Business Administration from the IU Kelley School of Business. He holds Six Sigma Greenbelt Certification.

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  • How to Succeed at Speed Dating

    Oscar Moralez, Managing Director
    Oscar Moralez, Managing Director

    Your palms are sweaty. Your legs are shaking. You can’t get the words out of your mouth fast enough. Finally, everything starts to flow. You’re in the zone. Then suddenly, without notice, the buzzer rings and you have to move on.

    This is not the typical speed-dating scenario. I’m talking about the 70 entrepreneurs who will soon make investor pitches in search of the perfect match at the 2014 Innovation Showcase Thursday, July 10 at the Dallara IndyCar Factory in Speedway, IN.

    Why the anxiety? First, they’re vying for more than $130,000 in cash and professional services that goes to the top presenter. With 69 equally motivated competitors, the competition will be fierce. Second, presentations will be made to an audience of more than 800 people, including potential investors like the VisionTech Angels. Finally, they’ve got 60 seconds in which to make their pitch. That’s not a lot of time.

    Fortunately, VisionTech Angels and the IU Kelley School of Business are hosting the E3 Summit segment in partnership with The Innovation Showcase. Set for Thursday, July 10 at the same location, the E3 Summit is designed to introduce new and seasoned angel investors, entrepreneurs, and startup companies to the world of angel investing. This is not a sales event. Our focus is education and networking. In addition to the VisionTech team, VisionTech Angels from Indy, Bloomington, Lafayette, and Warsaw, as well the Hyde Park Angels and Queen City Angels will be present at The Innovation Showcase and available to speak one-on-one to participants about angel investing and what we consider an “investable company.” We anticipate 200 to 300 people will attend the morning segment. I hope you can join us.

    Before I leave you, I promised to tell you how to succeed at investor speed dating. In 10-second snippets, tell the audience:

    • Who you are
    • Problem you’re solving
    • Your solution (technology/service)
    • Size of market
    • Push to your website for more information
    • Ask them to stop by your booth at The Innovation Showcase

    Say it all in the most genuine, passionate, compelling manner possible. I know you can do it, but if you’re one of the entrepreneurs who will be pitching at The Innovation Showcase or future investor event, it helps to have a wingman. Join us at The Innovation Showcase, Thursday, June 10. Details are available at www.VisionTech-Partners.com or by visiting www.TheInnovationShowcase.com.

     

     

  • Creating Synergy for Startups: The University Connection

    By Don Scifres

    VisionTech Partners is where inventors, entrepreneurs, investors, universities, and strategic partners converge to share, develop, fund, and launch innovative technologies.

    It’s easy to relate universities with basketball teams, particularly during March Madness. (Think any Big Twelve team.) Or with football. (Think Texas.) Or baseball. (Think Texas.)

    But how often do we associate universities with some of the most successful brands on the planet? How about the world’s top sports beverage, Gatorade, developed at the University of Florida. Or the world’s social networking powerhouse, Facebook, which was hatched in a Harvard dorm room.

    The fact is, universities are often the source of the next big idea, the next life-saving medical treatment, and the next Wall Street success. And it’s why earlier this month, VisionTech Partners formed a strategic relationship with The Purdue Foundry, part of the Purdue Research Foundation. The purpose of our partnership is to expedite the transfer of Purdue innovations to the public through commercialization deals and development of startups.

    The arrangement is pure synergy. The Purdue Foundry’s mission is to provide entrepreneurial resources to Purdue students, faculty, and staff aimed at launching new technologies and startup companies. VisionTech Partners and the VisionTech Angels are focused on building Indiana’s innovation ecosystem, which includes funding and mentoring promising companies. So aligning with Purdue’s brilliant minds is exactly where we need to be.

    As a Purdue alumnus, I am thrilled that VisionTech Partners will be working closer with the Boilermaker family to launch new technologies and startup companies. Every success puts a “W” in the win column for Indiana and our future. We look forward to forging similar partnerships with the state’s other research universities.