Small Business Development and SBIR Phase I Proposal Development Services
DeliverHealthCare, Inc., a Manhattan Beach, CA healthcare information technology (IT) startup, hired Eighteen Ventures to provide small business development and SBIR Phase I proposal development services. The services helped the client (1) formally establish a business structure and (2) thoroughly think through the development of an innovative healthcare information technology (IT) concept for healthcare professionals. A business model was prepared to help grow the startup; while, separate SBIR Phase I grant proposals were prepared for the National Institutes of Health (NIH) and the National Science Foundation (NSF) SBIR programs. The SBIR grants will fund the firm's healthcare IT concept.
Eighteen Ventures is working closely with the company's founder & CEO, who is a retired physician, to implement both services.
SBIR Phase I Proposal Development Service
Ozara Biomedical Solutions, a Philadelphia PA-area health technology startup, hired Eighteen Ventures to help prepare a National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase I proposal. We are working with the company to get funding from the Pennsylvania Innovation Partnership program as well. Ozara Biomedical Solutions is seeking $225,000 from the NSF SBIR program to develop a wearable monitoring device and information system for individuals seeking treatment for opioid use disorder (OUD).
8Chili, based in Northern California, is a medtech startup focused on designing, developing and commercializing an augmented reality based surgical navigation device that will enable remote open surgeries and simulation ( ROSS).The company hired Eighteen Ventures to help research and prepare a National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase I proposal.
Private Sector Capital Fundraising Service
Quality Reviews, Inc., a New York City-based small healthcare IT firm hired Eighteen Ventures to help it connect with a Health System Venture fund. The company sought funding to increase sales of its patient feedback services designed for hospitals, outpatient clinics, and other healthcare facilities.
Health System Venture funds are organized and run by healthcare systems like Inova Health System (Falls Church, VA) and Partners HealthCare (Boston, MA). They invest in small companies developing novel, problem-solving solutions for their hospitals. Moreover, the funds finance firms with solutions that improve the services of the hospitals or healthcare systems.
Using our knowledge, expertise and experience, Eighteen Ventures helped Quality Reviews identify and connect with Health System Venture Funds matching the company's investment request level and technology development specialty.
Business Model Development Service
A Jonesboro, AR, health technology startup hired Eighteen Ventures to research and prepare a business model. The business model will be used to support the development of a proposed patient monitoring device to treat Congestive Heart Failure (CHF). More importantly, the completed business model, which include identifying the target buyers, technology users, competitors and market size/opportunity, will be used to attract and obtain private investment capital from either a Health System Venture Fund or a Healthcare Corporate Venture Capital Fund.
Finally, Eighteen Ventures provided the client a researched list of potential private sector investors, which included Health System Venture Funds, with a history and interest in funding projects like his proposed health technology concept.
Eighteen Ventures worked closely with the company's founder & CEO, a practicing cardiologist with extensive experience treating heart conditions, to complete the business model.
Business Plan Development and Private Sector Capital Fundraising Services
A Rochester, NY small emerging firm hired Eighteen Ventures to prepare a business plan and help the company find potential private sector capital investors for its Life Improvement Portal (LIP) Glucose Monitoring System (GMS). The device is designed for individuals with vision and hearing disabilities. Also, the LIP GMS project was originally funded by the U.S. Department of Education SBIR program.
Eighteen Ventures worked with the company's owner to produce a business plan. More importantly, the document's two-page executive summary was used to attract the attention of private sector capital investors. This whole effort resulted in the company connecting with and making a funding presentation to a health technology focused New York City venture capital firm.
You can read about the Lessons Learned after providing successful service for this client.
To learn more specific information about Eighteen Ventures' services, please visit our Consulting Services.