Manulith / MakerOS
MakerOS saves time and money by streamlining the quoting process, consolidating project management, and managing payments. It is used by maker businesses such as 3D printing service providers, design firms, product developers, inventors, and more. MakerOS is free to install and use on your website. When you take payment from a customer, we collect a 3% fee plus credit card processing. MakerOS is a product of Manulith, a 3D printing service provider located in Detroit, Michigan.
The team at Manulith has had a successful year. They have released a public beta test of their software and have 380 companies with 1,000 users operating the system. They are generating revenue and have secured $430K from Invest Detroit and Secret Sauce Capital. Manulith is extending its seed round with hopes of wrapping it up in a month or two. Presently, they are working on a full 1.0 release for this summer with a new pricing model and working on growing sales. They have brought on four full time employees and two contractors in their Detroit Office which has moved from the first floor lobby area to a 1500 sq ft space on the 3rd floor. They have also opened a Brooklyn, New York office with two full time employees to participate in all the 3-D printing action going on in that hotbed of the country.
Since opening the public beta in 2016, we have drastically updated the system, launched a new major feature, introduced services which are firsts in the industry, and redesigned our website. All this to help you build a business so smart it can run itself. We have optimized how you use MakerOS so that it is even easier to manage projects, clients, billing, and most importantly: grow your business. We have had one hell of a 2016, and an even more successful public beta. The feedback we received from our more than 1,500 companies has led to the new AutoQuoter, Product Manager, International Payments, and more. We could not have built the system without you. With that said, it is time for MakerOS to fully launch. We are leaving public beta and launching MakerOS as a fair and balanced subscription model.
Mountain Labs helps healthcare professionals acquire data. Hospital IT departments use our cloud-based software, Symport, to protect sensitive health data that is shared with others.
Since April 2014, we have raised $550K in pre-seed capital, started pilot projects at 2 large health systems, and generated ~$10K in revenue. We are releasing Symport V2.0 to the public in summer 2015 and are currently raising a seed round to scale up operations.
Pelico's first initiative is to create a stair-climbing wheelchair that is human-powered. To achieve this, we are literally re-inventing the wheel, providing individuals with the ability to use an everyday wheelchair to ascend and descend staircases without additional assistance.
In countries without policies like the Americans with Disabilities Act, people face significant obstacles due to the lack of amenities to meet their needs. Pelico's wheelchair will dramatically improve mobility - the number one struggle identified by Persons with Disabilities. As a manual wheelchair, it will be more affordable and cost-effective than the existing powered wheelchair prototypes. The team at Pelico will introduce a product that transforms wheelchair standards and will grant significantly greater accessibility to people with spinal cord injuries in the U.S. and abroad.
Since Pelico presented at NEF, we have made a strategic design pivot. To be more attractive to current wheelchair users, we reworked the design with a focus on usability and feasibility. The new design is a curb-climbing accessory as an attachment that would allow wheelchair users to climb curbs safely. We have submitted our application to NSF and are in discussions with a SBIR agency, and the National Institute on Disability, Independent Living, and Rehabilitation Research. We hope to hear some good news soon.
Blue Water Satellite
Blue Water Satellite (BWS) uses satellite imaging and proprietary image processing to monitor the world's land and water resources.
Today, companies want high value information on land and water resources globally to increase sales (i.e., resource extraction) and cut costs (i.e., lower remediation costs). This information was previously unavailable at a reasonable cost. BWS is able to provide customers information on minerals, chemical, and biological constituents for a fraction of the cost of traditional ground sampling. In addition BWS technology provides much higher data density, faster cycle time, wider area of coverage, historical archives back to 1984 and early detection as competitive advantages over traditional methods. The Company holds exclusive licenses to six issued US patents with six more pending.
The company's focus is in four major verticals; Oil and Gas, Power Utilities, Agriculture, and Environmental Engineering companies. The company has acquired a number of customers including a super major oil and gas customer, a major pipeline operator, four of the world's largest power utilities, and five of the world's largest environmental engineering firms. BWS has recently been named a partner by Google for its Earth Engine and Maps Engine products.
The company has been selling for four years with 2014 sales having exceeded $1 M.
After working with NEF, Blue Water Satellite successfully closed a $2M investment. 2015 revenue were 40% greater than the previous year and employment increased by 50% (with plans to double employment over the next two years). Much of this was made possible by their landing several new major clients.
Advanced Interactive Response Systems
Advanced Interactive Response Systems (AIRS) is focused on improving the lives of patients who rely on oxygen therapy while concomitantly reducing the costs and improving the reliability of the oxygen systems. This is accomplished by way of AIRS’ patent protected alarm systems that monitor pressure, flow and concentration; automatically switch to a backup supply when needed; and transmit system status information to remote care givers via a variety of communication modes.
AIRS products reduce the amount of time that facility personnel spend monitoring oxygen systems, which allows the already overworked staff to accomplish more tasks; and they further reduce costs by allowing oxygen tanks to be use more completely, thereby reducing the number of needed tank changes. AIRS products also provide peace of mind to oxygen users, and potentially reduce facility liability costs, since they can provide an immediate alarm in case of a system failure.
Since completing the NEF coaching AIRS has won two business competitions. We also have investors and partners interested in AIRS. We are proud to say our first oxygen monitoring product and tubing will be available next year. AIRS has just received a large intent to purchase order from a global distributor.
AIRS has successfully raised $340,000 which will be used to introduce the AIRS product to the marketplace Q1 next year.
Chronic back pain is one of the most common ailments and reasons for missed work days in the United States. In the United States, 20% of the work force has back problems, and it is the second most common reason for visiting a doctor's office in spite of only 25% of those affected seeking medical care.
Exo Dynamics is an innovative medical device company bringing to market the next generation of spinal orthotics. We’re pulling together modern technology to solve an age old problem. We’re a differentiated, disruptive technology in a market that has seen very little change over the last century.
Our goal is to restore normal mobility to customers, allowing them to remain active, productive and independent. Our first product (ExMS) is an electromechanical back brace that allows for the reduction of:
- Missed work days
- Cost of back pain treatment
- Symptoms of back pain and muscle fatigue
We aim to reinvent back care as you know it!
Exo Dynamics is positioning themselves to launch with a more simplified version of their exoskeleton design. It will enable them to produce the device more efficiently than the first, fully-featured design. The simplified version will be used for ergonomic support in operating rooms. The more automated design will be launched in the future and is intended for therapeutic applications. They have applied for a SBIR grant and hope to hear positive results in the Jan - Feb 2016 time frame.
Simpathic creates software that automates clinical training. Our software analyzes and reproduces physician diagnostic expertise, allowing it to take on and augment certain roles of a doctor. Our first adaptation of this technology is to create a digitized teaching physician. Demands on physicians are on the rise, especially with the vast injection of insured patients into the American medical market. At the same time, physicians operating independently see 25% more patients than when they are training students. In our customer discovery we learned that this 25% represents a $4.3 billion loss every year to American medical schools. Simpathic is creating a digital physician that can offload the teaching burden from doctors and make students more efficient, reducing student-driven inefficiency from 25% to 15%, representing a value to American medical schools of $2.58 billion.
MyFab5 has reinvented the restaurant review to create a crowdsourcing platform that is mobile friendly. On MyFab5 users "Rank" up to five of their favorite restaurants in any food or drink related categories (e.g. my top 3 places for burgers in Ann Arbor). When aggregated, MyFab5 rankings power our granular and contextual search results that show what makes each restaurant unique and reduce the need for consumers to sort through dozens of reviews that were not designed to be read on mobile devices. MyFab5 users can also create "Bucket Lists" of restaurants they discover on our platform and want to try some day (e.g. Date Night Places to Try).
MyFab5 is a business friendly crowdsourcing platform because our users only talk about their favorite places; restaurants do not have to deal with fake negative reviews written by competitors and ex-employees. Furthermore, our business model does not force restaurants to buy ads that don't help increase revenue from existing customers or acquire new customers that are actually profitable. Instead, MyFab5 helps restaurants increase the lifetime value of their existing customers and also acquire new customers that match the profile of their most profitable customers.
- Raised $225k on a convertible note
- Received $100k loan from the Innovation Fund through a interest-free and risk-free loan
- Added one FTE that is doing our Android development and soon will start doing some web development well
- Our next hire will most likely be on the marketing/sales side
- We published a major app update on June 23rd, which includes a complete redesign of the app and performance improvements
- On July 15th we're releasing our app in most international markets so people that live in Europe, Southeast Asia and other areas can download and use the app
- Our audience continues to grow, and, across all channels, we have a monthly audience of over 300,000 people
- We have also taken some steps to validate our business model. In a trial-run, we got 22 restaurants to sign up for a SaaS service that costs $49 a month. It took us less than a day to contact the restaurants and get them to sign up. The only thing is that we didn't require a credit card so we do expect a drop-off. However, our conversion rate was 6x higher than expected, so there is room for drop-off.
GENOMENON is enabling personalized medicine by improving genome sequence interpretation. We are developing software that automatically identifies meaningful information from complex genetic datasets in both research and clinical settings and presents that information in an intuitive and efficient interface virtually eliminating the expensive and error-prone manual data review process. The end result is faster discoveries, fewer missed diagnoses and overall improved patient outcomes in oncology and beyond.
Our recent recognition and awards include Michigan Collegiate Innovation Prize (First Place) 2014, Spartan Innovations GreenLight (Best Overall Pitch) 2014, MiQuest (First Place - New Business Idea) 2014, Michigan Translational Research and Commercialization (grant awardee) 2014 and Michigan Growth Capital Symposium (company presenter) 2014.
Mark J. Kiel MD/PhD completed his medical residency in Clinical Pathology in 2014 at the University of Michigan where he is currently a fellow in Molecular Diagnostics. He has extensive experience in genome sequence data analysis with first-hand knowledge of the clinical use of these data and has served in an advisory position to a number of research investigators and clinical diagnosticians.
GENOMENON is happy to announce that we have added Steve Schwartz as CTO and Nathan Patel as Software Engineer to our growing team. Steve has over a decade of software-as-a-service start-up experience, and his last venture, CarCodeSMS, was acquired by edmunds.com in 2014. Nathan is a brilliant coder and creative thinker with a strong biomedical background who has make outstanding progress on our first-to-market product, MASTERMIND.
GENOMENON is actively raising its first round of funding to accelerate its path to profitability.
Founded less than two years ago, Genomenon's reputation is growing. Recently, it won the $100,000 prize in the annual Accelerate Michigan competition for innovative startups. It has launched its first software product to initial customers, garnering its first modest revenue. The firm expects to have more software products ready next year.
Foodjunky is a fast moving, high-spirited startup that makes hungry people happy. Our business is to deliver happiness to our customers and vendors.foodjunky is a B2B SaaS company that makes ordering food painless while making everyone happy. Launched at BIC’s (Built in Chicago’s) launch party we were introduced to Bizdom. After a few months of discussions it was decided to move our operation to Detroit! With Bizdom’s help we have rebranded our site signed up restaurants in five cities and now process orders daily for companies such as Quicken Loans, tumblr, CBRE amongst many others.
Operating in only 2 states and a few cities a year ago, Foodjunky is now in 20 states and over 90 cities. They have closed their seed round, have grown to 9 people, and are planning a Series A round. Foodjunky will be promoting their business at the National Restaurant Association Show in Chicago in May.
foodjunky.com is currently the fastest growing online food ordering platform in the country. We are adding over 1k restaurants a month! We have grown from 500 to 7,000 restaurants. We have over 7,000 users. Our team has grown to 11. We have raised $1 Million to date and are raising a $3 Million Series A.