VisionTech Partners

Tag: Indiana startups

  • Boosterville Receives $830K Investment to “Boost” Loyalty Platform Growth

    ZIONSVILLE, IN (February 7, 2017) — Boosterville, an award-winning, offers and loyalty platform that seamlessly connects merchants with cause-driven buyers, announces the completion of the company’s seed round of funding. The round, which will be used to accelerate the rollout of the platform to new markets, totaled $830,000 and was co-led by 316 Investments and VisionTech Angels with a matching investment from Elevate Ventures.

    Greg Willman, co-founder and CEO of 316 Investments who will be joining the Board of Directors, stated, “Our excitement for Boosterville stems from our long history in the retail space and understanding of the innovative marketing solution that Boosterville brings to merchants who want to support non-profit groups in their communities as well as grow their customer base.”

    Boosterville works with all existing payment card processing and POS systems with no new hardware, integrations or training required. An immediate text message at the time of purchase notifies the buyer of the merchant’s contribution to their selected non-profit, resulting in increased engagement and loyalty for platform merchants.

    Ben Pidgeon, executive director of VisionTech Angels, said, “Merchants have long been challenged by measuring return on investment of local marketing dollars spent. Boosterville has developed an elegant, yet powerful solution for businesses to engage with customers in supporting local causes, help local groups raise funds they need to be successful, and in the process, build a more loyal customer base. VisionTech Angels is pleased to have Boosterville as our first investment of 2017.”

    Boosterville CEO Pam Cooper stated, “We’ve seen great interest this last year and are thrilled to have these leading retail and technology experts join our team. We’re excited that they recognize the value of our technology and the tremendous opportunity to help the millions of merchants across the country increase their revenues while enhancing their relationship with their local community and non-profits.” Cooper added, “It’s wonderful to join the rising tide of Indiana’s tech startup community and prove that founders don’t need to leave the state to secure angel investment or talent for their growing companies.”

    During 2016, Boosterville established a technology partnership with one of the world’s largest credit card networks, secured agreements with national non-profit and faith-based organizations, was selected for Facebook’s FbStart program, and visited with now-Governor Eric Holcomb to introduce Boosterville and discuss fostering entrepreneurial growth in Indiana. Most importantly Boosterville received overwhelmingly positive response during a pilot program in Zionsville after months of testing by local development partner merchants: WB Pizza, Cobblestone Grill, and JiffyLube of Indiana.

    Prior to launching from Zionsville’s entrepreneurial and coworking center zWORKS, Boosterville graduated from two tech accelerators — the SeedHatchery in Memphis, TN and Prosper Women Entrepreneurs in St. Louis, MO. The company is currently operating in previously vacant commercial space owned by the Town of Zionsville.

     

  • 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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  • 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.