We caught up with Clinicor, Gray Oncology Solutions, Lara Health, Modal, Neuralert, Opal HTM, PopCheck Technologies, and Vital Start Solutions after nine months of dynamic weekly cohort sessions and individual support in advance of next week’s Launch Lane Showcase – all part of our Digital Health Month, sponsored by Siemens Healthineers.
As they approach the end of the accelerator, these founders pause to reflect on what they’ve learned along the way, how they’ve adapted, and milestones they’ve met.
Anjali Bhatla
Founder, Clinicor
Clinicor is building a digital prescription-only clinic to optimize heart failure patient therapy.
How has your company grown since we last spoke in April?
Since starting Launch Lane we have developed a prototype of our product.
What milestone are you most proud of since joining the cohort?
We are proud of the fact that we were able to gain interest in our service and use feedback from cardiologists to iterate on our product.
Finish the sentence: if not for Launch Lane….
My company would not have been able to develop a strategic plan to move forward. The extensive experience of the Launch Lane team has been vital in ensuring we continue to adapt.
What surprised you most about the experience?
It was surprising how even over Zoom the Launch Lane community became a vital place for sharing experiences, best practices, and lessons learned.
Eric Corkhill
CEO, Neuralert
Neuralert automates stroke detection using lightweight, wearable wristbands which automatically generate an alert when stroke occurs, speeding life-saving treatment and protecting the 1.2 billion people at risk.
How has your company grown since we last spoke in April?
The two major areas for growth have been in product development and progress towards FDA clearance. We have designed purpose-built disposable bands that address the needs of our first market (acute care hospitals). We are now only 30 days away from attaining MVP status which occurs when we get working prototype devices placed on patients. From an FDA standpoint, we attained Breakthrough Technology Device designation in July. This designation has helped with fund raising and created a clear path forward towards eventual FDA clearance as a medical device.
What milestone are you most proud of since joining the cohort?
Without a doubt, being designated a Breakthrough Technology Device by the FDA was a huge milestone. It validated the FDA’s belief in the potential value of a non-invasive device that could constantly monitor for stroke. It also has helped tremendously with our path towards being granted clearance as a Class II De Novo medical device.
Finish the sentence: if not for Launch Lane…
My company would not have created a pitch deck or message to potential investors that was as strong, clear, and effective as it is.
What surprised you most about the experience?
Two things. The Launch Lane process requires dedication, work, and intellectual investment…and if you don’t do that, you will be called on it. I liked being pushed to make me a better CEO and a better leader. Secondly, the benefit and satisfaction of going through the process with other extraordinary CEOs. I learned something new and valuable every time we met and the sense of collective support was amazing.
If not for Launch Lane, my company would not have created a pitch deck or message to potential investors that was as strong, clear, and effective as it is.
André Diamant
CEO and Founder, Gray Oncology Solutions
Gray OS is optimizing oncology workflows so each patient receives high quality, efficient care throughout their cancer treatment.
How has your company grown since we last spoke in April?
Since we joined Launch Lane in April, we’ve closed our first round of financing ($1.25M), seen our first full deployment at one of the largest hospitals in Canada and began deployment at two other hospitals. We also added two individuals to our advisory board (one also serving as a director), both of whom will help tremendously in our entrance into the US market.
What milestone are you most proud of since joining the cohort?
The milestone I’m most proud of is our first full deployment. Our software is inherently disruptive, both from a technical perspective (requiring a direct interface with the hospital’s existing network/data) and from a workflow perspective (as it is “yet another application”). Seeing the positive impact Gray OS has had on patients & hospital staff has been incredibly encouraging for our ability to deploy in future centers.
Finish the sentence: if not for Launch Lane…
Gray would not have met (and hired) one of our key advisors who will play a crucial role in our entrance into the US market.
What surprised you most about the experience?
The most surprising thing about the experience was just how enjoyable (and valuable) it was to have consistent meetings with the cohort and really build a sense of community. I must admit I was initially skeptical about the 2 hour/week time commitment, but I was pleasantly surprised by how much I looked forward to each week’s gathering.
Erika Dillard
CEO and Founder, PopCheck Technologies
PopCheck Technologies is a Tennessee-based medical device company specializing in remote monitoring technology to eliminate the occurrence of hospital acquired complications following surgical procedures.
How has your company grown since we last spoke in April?
The greatest growth has been in me as a leader of the company. I started this program as a healthcare professional with a deep scientific background and little experience in business and commercialization of technology in the healthcare space. I end this program with confidence in myself as a CEO, equipped with the tools necessary to take the company to the next level. Furthermore, I have made some awesome additions to my advisory board. One new member is a medical advisor who is a physician specializing in vascular medicine with expertise in managing patients with venous blood clots. The other two advisors are also advisors and mentors in the Launch Lane program. Their assistance over the past 8-9 months has been invaluable and I could not end this program without having their continued support and expertise represented on the board as we continue to move forward to reach our next milestones.
What milestone are you most proud of since joining the cohort?
Since Launch Lane started, we were able to perform a preliminary proof of concept study in a cohort of volunteers utilizing our early prototype. This facilitated key iterations and focus on specific sensing technology that we are now incorporating into the device for additional pre-clinical evaluation. One of the greatest assets of Launch Lane and the University City Science Center is access to a large network of professionals in healthcare, from both academia and industry. As such, I have been able to take advantage of a number of resources and opportunities such as the University of Delaware NSF ICorp Site program which provided non-dilutive funding to perform key customer discovery interviews vital to validating our proposed revenue model and go to market strategy.
Finish the sentence: if not for Launch Lane…
My company would not be in a position to secure funding and investment for the next phase of commercialization.
What surprised you most about the experience?
I am overwhelmingly honored to be a member of this cohort and have come to appreciate my cohort members so much. At the start of this program, I was anxious about how little experience I had in commercialization and how much I needed to do and learn. This group demonstrates, by example, how to successfully achieve milestones despite hurdles that will undoubtedly occur. Because of them, I have come to appreciate the process and perceive obstacles along the way as stepping stones to success. They have truly been a support system for me.
One of the greatest assets of Launch Lane and the University City Science Center is access to a large network of professionals in healthcare, from both academia and industry.
Martina Janeckova
CEO, Lara Health
Lara Health is building the first remote patient monitoring leveraging automation and AI to maximize physicians' revenue.
How has your company grown since we last spoke in April?
We more than doubled our monthly recurring revenue, refined our product roadmap and narrow down some of the strategies since April.
What milestone are you most proud of since joining the cohort?
We got our revenue on a great trajectory which we are really happy about.
Finish the sentence: if not for Launch Lane…
My company wouldn't have had the game plan we have now and we wouldn't have had the fun and support of the Launch Lane team and the other founders who made the whole experience really great.
What surprised you most about the experience?
How enjoyable and enlightening it has been working with the other founders and what a great tight group we have become.
Juliette Mann & Cole Bender
Co-CEO, Modal
Modal is a 3D communication platform designed to enhance education for real world application.
How has your company grown since we last spoke in April?
Since Launch Lane began, the Modal team has grown both in size and capability. We have begun marketing our product and expanded on our existing pilot-customer relationships, allowing us to continue development based on feedback from existing users and customers. As our team has grown, so has our ability to increase our digital library and further differentiate ourselves as the technological solution in the education space.
What milestone are you most proud of since joining the cohort?
We are thrilled to have tripled our user base in the past 6 months. The tailored guidance we received in terms of defining our sales strategy was essential to gaining the participation of crucial, early users. As first-time founders, we benefited enormously from Launch Lane's ability to connect us with industry specific experts.
Finish the sentence: if not for Launch Lane…
My company would not have a path towards full time leadership. The support and encouragement we received from our mentors and fellow cohort members has been crucial for defining our next steps in terms of coming on full time.
What surprised you most about the experience?
Over the past few months, our mentors and fellow cohort members have truly become friends in addition to knowledgeable peers. We knew going into it that we had a lot to learn from the rest of the cohort, but the advice and acumen that they have had to offer has been truly monumental. I can't wait to meet them in person for the first time!
Kirthika Parmeswaran
CEO, Vital Start Health
Vital Start Health is developing the first personalized maternal mental health platform using Virtual Reality and AI.
How has your company grown since we last spoke in April?
Vital Start Health has grown by leaps and bounds since April. The investment from Launch Lane served as an impetus for further funding, onboarding commercial and HIPAA compliant software services partners, REACH and Persistent, selection for other accelerators including Microsoft for Startups, Comcast Connect, Project W x M12’s SaaS Lab and connecting with the healthcare industry at large. We learned about the nuances of Licensing with academic institutions that helped us complete one with a premier health institution in Philadelphia. We found confidence, traction, and clarity on our growth milestones. The focus on commercialization propelled us to complete a soft launch, pivot in our revenue model strategy and race towards full launch. And finally, we are close to completing our pre-seed round with over 75% completed and growing interest in our priced round!
What milestone are you most proud of since joining the cohort?
The biggest milestone since joining the cohort is our soft launch at the Happy Mama Expo with our partner, REACH. The soft launch goal included content and program development, website redesign, social media outreach, compliance, digital marketing with fundraising, evolving team, strategy, and platform! The pitching practice helped us hone our pitching skills and connect with our audience.
Finish the sentence: if not for Launch Lane…
My company would be in the ‘Lost’ Lane – no pun intended! This experience has propelled us, huge thanks to the top-notch support from our mentors and peers.
What surprised you most about the experience?
How much a founder can learn and grow through sharing experiences and exchanging notes with other founders who are in the same space! We bounced off ideas, contacts, and connections for the plethora of needs for a growing healthcare venture. I enjoyed the camaraderie and off-the-cuff discussions immensely and look forward to remaining connected as we reach for the stars!
If not for Launch Lane my company might still be a single-region sole proprietorship with just another good idea instead of the multi-metro health-tech corporation that it is today, working to fundamentally transform healthcare technology management around the globe.
Connor Roberts
Founder, Opal HTM
Opal HTM is devoted to improving hospital efficiency and effectiveness by using our patented system of wireless sensor modules and data analytics to reshape how medical equipment is managed.
How has your company grown since we last spoke in April?
Things have really taken off since we last spoke. From raising capital, to attracting industry partners, to making key technological breakthroughs, I’m happy to report Opal HTM has had one tremendous quarter after another. We still have a long road ahead, but I couldn’t be more pleased with our progress and pace.
What milestone are you most proud of since joining the cohort?
There are plenty of substantive milestones that I’m proud of, especially the ones I mentioned earlier, but I want to step back for a moment and make sure I don’t miss the forest from the trees here. This is a little hard to describe so bear with me, but you know how something can add up to more than the sum of its parts? Like how a cake is somehow more than a pile of sugar, flour, butter, milk, and eggs, even though that’s all it’s made of? Well, that will also be true for a company if things are coming together correctly, and watching that quality finally emerge in Opal HTM has made me incredibly proud. And excited. And terrified. Many people, myself included, have been pouring their energy into this company for so long, working tirelessly on the individual components – product, market, finance, talent – and now we’ve fit them all together and the whole thing is… running – it’s running! Those other milestones are parts; they’re ingredients. Finally, we’re seeing them compound and add up to something even greater that is taking on a life of its own. I don’t know what exactly to call that milestone, momentum probably comes the closest, but however one might refer to it, that is what I’m most proud of right now.
Finish the sentence: if not for Launch Lane…
My company might still be a single-region sole proprietorship with just another good idea instead of the multi-metro health-tech corporation that it is today, working to fundamentally transform healthcare technology management around the globe.
What surprised you most about the experience?
It has completely surprised me how well our cohort gets along and how much we interact with each other – I actually really like these people! Coming into this, I was expecting it to feel something like a graduate course where you have a handful of classmates, and sure, they’re nice enough, but you all are there mainly to listen to the lecture, taking in whatever lesson is presented that week and then dispersing after class to apply what you learned individually.
Instead, Launch Lane is something else – more like a club or maybe a founders’ support group. We’re all rooting for each other. We celebrate together, we commiserate together, and we learn from each other’s thoughts and experiences in these wide-ranging, yet simultaneously in-depth discussions about healthcare technology entrepreneurship. I originally applied to Launch Lane for the funding, but I think the people – fellow cohort members, advisors, guest speakers – have ended up making an even bigger impact on Opal HTM and me.
Don't miss our 2021 Launch Lane Showcase
Thursday, December 9th at Venture Café Philadelphia
