The 45 people who attended the October 20 NEF Forum meeting were treated to both an investor presentation by Parabricks and the bi-monthly NEF Pitch Pit.
Mehrzad Samadi, founder of Parabricks, presented his ‘big idea’ – a software solution to accelerate the processing of DNA data from days to hours, allowing faster and more accurate diagnoses and treatment. The audience was impressed not only with the lives that can be saved with Parabricks’ solution, but also the huge investment potential for the business.
Three intrepid entrepreneurs competed in the Pitch Pit:
- Richard Doerer of Owow Products, LLC, which offers Horror/Halloween and baseball-themed products for adults (entertainment) and kids (STEM-based learning through making stuff), (See www.facebook.com/Owow-ProductsLLC-275180445937186/)
- Sean Carrol of Enbiologics, which is advancing healthier, more intuitive wound care for veterinary use. (See www.michiganbusinessnetwork.com/blog/dtx-launch-detroit-enbiologics)
- Elliott Brannon of SmallWorld, a University of Michigan Maize Pages platform which strengthens community groups by facilitating high-quality communication and increasing collaboration. (See https://maizepages.umich.edu/organization/smallworld)
It was fun to see such a diverse set of start-ups pitching!
And the three judges:
- Robb Lippit of VC firm Secret Sauce Capital,
- Paul Nucci, Assistant Director for Internal Community Partnerships at EMU’s College of Business
- Vic Havele of technology consulting firm CAE Tech
The judges’ comments were well received, and the winner of $400 (including a generous $200 match from Secret Sauce Capital) was Sean Carrol, founder of Enbiologics. Congratulations, Sean!
The fact that each presentation received immediate, specific, and actionable feedback from the panel of judges exemplifies precisely the value of New Enterprise Forum meetings to aspiring entrepreneurs and echoes the themes emphasized repeatedly in our coaching process: Whatever the product or service an entrepreneurial company may be developing, there are fundamental business elements that must be thoroughly planned and clearly presented to create a credible “pitch” -- and a sound business plan.
Our thanks and best wishes to Parabricks and all the pitch contenders! We look forward to following your on-going growth and progress.