Sarah Marshall, Author at Grit Daily News https://gritdaily.com The Premier Startup News Hub. Tue, 01 Mar 2022 21:15:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.1 https://gritdaily.com/wp-content/uploads/2021/07/GD-favicon-150x150.png Sarah Marshall, Author at Grit Daily News https://gritdaily.com 32 32 10 Things You Didn’t Know About Entrepreneur Bruce Lucas https://gritdaily.com/10-things-you-didnt-know-about-entrepreneur-bruce-lucas/ https://gritdaily.com/10-things-you-didnt-know-about-entrepreneur-bruce-lucas/#respond Tue, 01 Mar 2022 17:30:00 +0000 https://gritdaily.com/?p=84525 1. He comes from a humble background. Lucas takes pride in the fact that he was the first generation on his father’s side to go to middle school. His father […]

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1. He comes from a humble background. Lucas takes pride in the fact that he was the first generation on his father’s side to go to middle school. His father was a truck driver for 35 years, and his mother never graduated high school. The family struggled financially, but it made Lucas appreciate simple pleasures and strive for greater things. He says his experience growing up gave him a thirst for success and a strong work ethic, stating, “I love the intellectual challenge of starting companies from the ground up.”

2. He shows that you can still excel at something you don’t enjoy. Despite being a successful lawyer who represented ENRON in their Chapter 11 bankruptcy case, one of the largest corporate scandal cases in American history, he did not enjoy the profession. Lucas explains, “I really didn’t like being a lawyer, I mean it’s just a lot of arguing with people, you know, not really my cup of tea. I thought I was pretty good at it but I didn’t really enjoy it.” The pandemic made a lot of people realize that they preferred to keep their passions as hobbies, because making money off of them took the fun out. Lucas eventually left the world of corporate law for something that did not require so much interpersonal friction, but he still made a name for himself by putting in the work every day.

3. He is a risk taker. It may seem ironic that someone who assesses risk for a living would himself not be risk averse. Entrepreneurship requires a certain threshold for the adrenaline of gambling on an idea and the faith that you have the grit and timing to pull it off. But Lucas is even a risk taker in the insuretech space. Slide seeks to insure homes in the $300-750K range, but Lucas adds, “I’m not afraid to do the big houses, I’m not afraid to do $5 million risk $10 million risk, I’ve been doing it over the years.” He knows what to look for and trusts his experience, which reduces his perception of the risk.

4. He’s a serial entrepreneur. After leaving law, Lucas convinced a Cargill subsidiary to invest in him. He formed Infinity Investment Funds, served as the CEO and made the company very profitable before banking caught his eye. He partnered with Tampa-based investors and together they created the most profitable community bank in the state of Florida, as well as a Top 5 national SBA lender. Then insurance caught his eye. He looked at the insurance market in Florida, saw that it was in tatters, looked at reinsurance rates alongside capital inflows, and saw an opportunity to profit by taking policies from citizens, which remain the most profitable part of a Heritage portfolio til this day.

5. He grew Heritage Insurance from a startup to over $1B in annual revenue. Heritage Insurance started in Florida when the local insurance market was doing poorly. Lucas assessed its shortcomings and decided to change the insurance paradigm. By changing the way they were selecting policies, buying reinsurance, doing catastrophe bonds, and doing strategic M&A (transactional risk insurance), the company became a powerhouse on the east coast for coastal insurance products. Heritage expanded to 15 states and now trades on the NYSE. 

6. He just raised $100M for his latest venture. Insuretech venture Slide raised $100M in an oversubscribed Series A funding round. Artificial intelligence is the hottest trend, and given that insurance tends to be a boring, but necessary industry, so by integrating the technology into risk assessments, Slide had investors frothing at the mouth. It also helps when the pitch comes from an industry expert who has taken on multiple successful ventures. 

7. He knows how to make AI work for his business. According to Lucas, “AI is worthless without domain knowledge.” Slide has a dataset over $5 Trillion in Total Insured Value and an additional 20 years of historical claims information, which serves as the nucleus of the company’s AI-generated engine, which is significantly larger than than the next insuretech act on the market. By using big data sets, Slide avoids unpredictable P&L ratios. The reliability of Slides model comes from looking at everything: claim trends, the insured, credit score, claim filing history, whether lawyers and adjusters were hired to assess the property’s specs, etc. Slide’s AI finds a common denominator across all data points to determine underwriting profitability before the company decides whether to take on a client. 

8. He sees the bigger picture by looking at what’s going on locally. When deciding whether to expand into certain areas, Lucas looks at local ordinances and enforcement of building codes. He says that he avoided doing business in areas in northern Florida because, though there was not much risk “on paper,” that building codes had not been regularly updated or properly enforced. By understanding the average age of houses in an area, flood risk, materials used during construction, weather mitigation measures, and the way local ordinances affect the market, Lucas decides whether opening up his business to an area would be profitable in the long-run. Some businesses prefer less regulation, but homeowners insurance is not one of them. 

9. He’s integrating climate change projections into Slide’s AI technology for homeowner’s insurance. On climate change, Lucas says, “It’s real. It’s happening. Sea surface temperatures are a lot warmer, it produces the engine that drives hurricanes, it drives severe convective storms, and I think the big problem in the insurance industry is that they’re using backward looking models.” Models from 5 and 10 years ago are already outdated and less reliable. Slide uses forward-looking projections in its loss models for natural disasters by looking at data based on more recent weather events, rather than hypothetical ones. 

10. His only hobbies are family and business leadership. Lucas believes, “You have to combine passion and discipline and work ethic, etc., all into one in order to have what I think is the secret sauce to be a successful entrepreneur.” He is all about growing businesses to be the most innovative and profitable they can possibly be. Once he’s done, he finds the next niche market on the horizon and figures out how to add value where others have overlooked it. 

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Insurtech Slide Raises $100M in Series A Funding https://gritdaily.com/slide-raises-100m/ https://gritdaily.com/slide-raises-100m/#respond Mon, 22 Nov 2021 18:41:33 +0000 https://gritdaily.com/?p=78742 Serial entrepreneur and founder of Slide, Bruce Lucas has the domain knowledge necessary to transform the insurtech landscape. His latest startup, Slide, just raised $100M in an oversubscribed Series A […]

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Serial entrepreneur and founder of Slide, Bruce Lucas has the domain knowledge necessary to transform the insurtech landscape. His latest startup, Slide, just raised $100M in an oversubscribed Series A funding round. The funding will help the company build out its data-driven technology and operations. Lucas says, “I know that the future of insurance is insurtech and it’s the ability to apply technology to an underlying insurance asset to generate higher margins, better user experiences, [and] go to a more purely digital platform.” Slide will use AI capabilities and data science to offer clients a tailored quote on a platform with an industry leading user experience (UX). Their founding team comes from some of the most successful companies in a range of fields, including financial services, insurance and tech.

Slide will primarily focus on profitable business, and that is where AI can be a game changer. Slide’s platform generates projections based on more data points than anything else on the market. Lucas understands that without good data, AI will not go far enough to be useful. “I have a data set in excess of  $3 trillion total insured value as the nucleus of our AI-generated engine,” which he posits dwarfs the next insurance company that uses artificial intelligence, offering Slide a significant Big Data advantage. Greater data sets offer better reliability. Slide looks at the micro-attributes of the each risk as well as the applicant’s claim trends, credit score, claim-filing history, etc. in order to get an accurate loss ratio.

Since its founding in 2021, Slide has garnered a lot of attention from investors across the country, because Lucas has an excellent entrepreneurial track record. After leaving his law firm in 2008 to move to Florida, he bought into First Home Bank and amassed $1B in assets, putting the bank in the rank of the largest SBA lenders in the U.S.  Then in 2012, Lucas started Heritage Insurance, and rocketed the company from startup to IPO in only 20 months. The Slide team is excited that their Series A funding round, led by Gries Investment Funds and Tampa Bay Ventures, did better than they anticipated.

Always looking for the next challenge, Lucas moved on from Heritage to start Slide, with the goal of integrating artificial intelligence and data science to modernize the insurance underwriting experience. He wants Slide to change the way insurance is done, by using modern technology to reduce risk, increase personalization and anticipate trends. The company wants to offer clients what they need, not the kitchen sink.

When asked about how climate change affects projections, especially given that a lot of the business that Slide underwrites is taking place in Florida, Lucas expresses that climate change is real. He has seen its impacts first-hand, and believes by using Slide to integrate recent data sets into projections, that the company will have the most comprehensive and detailed risk assessment available. Lucas also stays abreast of things like local building codes and enforcement of breaches to understand whether an area will offer more risk than profit. His vast experience in the insurance industry makes him well suited to the task of ushering in the future of insurtech.

Lucas is confident that he has the domain knowledge to change the insurance landscape, to be at the forefront of making the transition to digital, AI-powered, accurate and profitable quotes, which will leave consumers and the company better off. Investors agree, as they flocked to the company with this latest injection of $100M, hoping to be at the forefront of the insurtech boom.

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The Real Estate Duo Investing in “The Beverly Hills of Arizona” https://gritdaily.com/real-estate-duo/ https://gritdaily.com/real-estate-duo/#respond Tue, 14 Sep 2021 14:33:13 +0000 https://gritdaily.com/?p=75577 Paradise Valley is referred to as “The Beverly Hills of Arizona,” and when European real estate duo Maximilian de Melo and Patrick Niederdrenk visited in 2011, they fell in love […]

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Paradise Valley is referred to as “The Beverly Hills of Arizona,” and when European real estate duo Maximilian de Melo and Patrick Niederdrenk visited in 2011, they fell in love with the area in Scottsdale. A few years later, they decided to move to the US permanently and went on to purchase and remodel a property for $100,000, which became a vacation rental. From there, they took on larger projects with multimillion-dollar price tags.

In 2017, Max and Patrick invested in a real estate brokerage called America One Luxury Real Estate. Earlier this year, they branched off to create MP Design and Development. Their custom built homes start in the $5M range and they boast myriad happy customers, who trust their instincts for seeing value and appreciate that they spend time on every detail to make sure the house becomes exactly what the client wants.

Max and Patrick’s success is due in part to their speculative developments, where they create a vision for an end buyer, and provide a one-stop shop for the project—from acquisition, design and development to resale. When scoping out new areas for development, Max and Patrick know what to look for. The most important things are that there are properties of comparable value in the area, good view corridors and some unique feature like being first roll on a golf course or alongside a lake. Paradise Valley does not have a lot of available land, so a lot of their job is envisioning something better for properties that already exist, tearing them down and making something beautiful to fulfill their client’s vision.

The Tech Side of Real Estate

The team is also utilizing their background in virtual reality to create digital renditions of the houses that allow clients to walk through a digital creative world. Max says, “for somebody that doesn’t build a house every day, it’s very difficult to visualize or envision something that’s not there yet, so that’s where those renders are really helpful, because it kind of shows them what they’re trying to build.” There have been attempts at this—the most commonly used is Matterport—but Max and Patrick’s use of VR software is meant to be reminiscent of the way a character moves through a video game like Call of Duty. The 3D renderings are very detailed, from furniture, finishes, placement and direction of tile, etc. On the 3D rendering software, Patrick says, “If you do something that nobody’s really done before it always creates some challenges, but once you figure it out, you also have something that nobody else has.”

The Future: Expanding Reach and Television

The team’s unmistakable success has them poised to expand. Patrick says, “We definitely want to get into different markets. We’re going to probably be in the Florida market within the next 12 months.” His hope is for MP Design and Development to be known for being able to turn a scrap of dirt into a place that leaves people awestruck.

Max and Patrick are also working with a production company documenting their real estate endeavors in the luxury market, and talking to networks about a possible television show that Max says is, “not going to be anything compared to what else is out there.”

To date, Max and Patrick have sold approximately $140M in real estate, both listed in the top 1% of agents in Arizona. Between their current projects, expansion across the country, the use of 3D image rendering technology and a possible television show, the non-stop European duo believes that their hard work has allowed them to truly live the American Dream.

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Dr. Tatiana Fofanova is Making Advance Medical Care Planning Easier With Koda Health https://gritdaily.com/dr-tatiana-fofanova-is-making-advance-medical-care-planning-easier-with-koda-health/ https://gritdaily.com/dr-tatiana-fofanova-is-making-advance-medical-care-planning-easier-with-koda-health/#respond Sat, 21 Aug 2021 17:04:24 +0000 https://gritdaily.com/?p=74430 Imagine a loved one having a medical emergency that makes them unable to make their own healthcare decisions, yet they had never specified what they would have wanted. Family members […]

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Imagine a loved one having a medical emergency that makes them unable to make their own healthcare decisions, yet they had never specified what they would have wanted. Family members bicker about what should be done, lawyers get involved, time and money are wasted—things get messy. Koda Health is a platform that helps patients and healthcare providers navigate the difficult discussion of Advance Medical Care Planning to avoid such stressful decisions during a crisis.

After spending years working in pediatrics, Dr. Tatiana Fofanova, co-founder of Koda Health, decided that it was time to leave the sciences. She had a “crisis of faith,” after realizing that people did not need access to the newest and fanciest drugs, but rather needed access to basic care and high quality information so they could make informed decisions about their own health.

After leaving her position in pediatrics, Dr. Fofanova booked a ticket halfway around the world, picked up mountaineering and applied to entrepreneurship fellowships at resupply stations. In 2019, she was accepted into Texas Medical Center Biodesign, a program that recruits three people from disparate but complementary fields to solve America’s most pressing structural issues in healthcare. The team, which included the two co-founders of Koda Health, Dr. Desh Mohan and Katelin Cherry, was asked to focus on geriatrics and the elder care space.

Fofanova feels the team was set up for success because, “we were basically recruited by the market that we ended up selling to.” The trio received access to hospital systems all around the country to conduct studies. They found that informed consent and advance care planning were major problems in the elder care space. Patients who lost their ability to make decisions for themselves and did not already have their medical power of attorney in order, would have family members scrambling to figure out the best course of action.

Studies have shown that, without clinical guidance, a family member has only a 50% chance of actually choosing what their loved one would want in a medical emergency. By understanding what a patient wants beforehand, money is saved across the board, and a patient’s wishes are respected.

How It Works

Koda Health if a web platform sold directly to healthcare facilities so that they can have the notarized Advance Directive (living will) documents on site for their patients when an emergency occurs. The guided questionnaire uses AI to simulate a conversation as if it were being delivered by a trained physician, understanding a patient’s values and exploring different quality of life scenarios regarding mobility, independence, communication, etc.

The process takes an average of 17 minutes and the technology is easy enough for a 78 year old to use. Doctors can go through the process with the patient right in their office, so that they can help inform the patient based on their personal health needs. Dr. Fofanova describes the Koda Health web application as “Turbo Tax meets Duolingo,” and says that such conversations are recommended for anyone over the age of 18.

As things are now, physicians leave patients with the task of getting legal forms in order, not considering whether they have, or can afford, an estate attorney. Use of the Koda Health platform also avoids the need for more physician training because the application navigates the discussion with the patient for them. Many physicians are not trained in how to have such discussions, and studies have shown that physicians avoid having them with patients who do not share their same cultural background for fear of offending the patient.

Koda Health addresses a long-neglected problem in the healthcare space. If a person were to go into a coma for 6 months that they were sure to recover from, only to wake up and find out that countless things had been done to them that they never would have wanted, it could change their life, and their outlook, forever. Taking the time to think through personal values before a regrettable emergency occurs is a reasonable precaution for anyone to take. A platform that makes Advance Medical Care Planning as easy as possible, and removes some of the awkwardness of talking about a morbid topic, should be welcomed by health systems across the nation. Koda Health is currently working with health systems in Texas and Virginia and is looking to expand into other states in the coming months.

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Zach Eikenberry Knows That Being an Expert Doesn’t Make You a Teacher https://gritdaily.com/zach-eikenberry-knows-that-being-an-expert-doesnt-make-you-a-teacher/ https://gritdaily.com/zach-eikenberry-knows-that-being-an-expert-doesnt-make-you-a-teacher/#respond Thu, 22 Jul 2021 21:38:25 +0000 https://gritdaily.com/?p=72866 Zach Eikenberry, CEO of Hook Security, grew up in a county in Indiana where there were more pigs than people. He went on to become the first person in his […]

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Zach Eikenberry, CEO of Hook Security, grew up in a county in Indiana where there were more pigs than people. He went on to become the first person in his family to attend university. Upon graduating from Purude University with a dual degree in philosophy and economics, Eikenberry received a single job offer at a medical records company. During the interview, he was standing on the warehouse floor overlooking a sea of empty desks. Puzzled by the sight, he came to learn that the company had previously laid off most of its employees during an economic downturn. In that moment, he realized that all he wanted was job security, and that the only way to get that would be to hire himself. Eikenberry has not written another resume since.

 

Over the years, he ran a software company that handled federal contracts and went on to found a few consulting firms. In 2011, Eikenberry opened NEXT School, a middle school and high school program that trains young people in entrepreneurship, so they, too, can hire themselves one day.

 

After retiring from that project in 2018, he connected with his longtime friend Adam Anderson, who was concerned with the way corporations trained employees to recognize cybersecurity threats. Eikenberry said, “It sounds like we took all the bad ideas from public education and moved them into corporate education.” Anderson agreed, and together, the duo founded Hook Security to fix corporate education and training in cybersecurity.

 

Eikenberry wears many hats at Hook Security, serving as CEO, CFO, Chief Fundraiser, Chief Strategy Officer and controller. He describes his day-to-day as removing roadblocks for his employees so that things can run more smoothly. He brings the same drive he had for NEXT School to Hook Security, stating, “I wake up every day attempting to solve a one size fits all training problem, which is the same problem we have in public education, where young people get the same training on the same day batched in classes down the factory line without any consideration for their individual circumstances.”

 

While Eikenberry understands the value he brings to the business, from his experience in education and the fact that he likes, “to solve big problems with complex variables… problems that have irreducible complexity,” he always gives credit where it is due. His LinkedIn page recently listed all the things one of Hook Security’s Client Success Managers accomplished in one day, adding, “She’s killing it!” He understands that the PhD advisors on Hook Security’s board give him a better idea of how to move forward with effective corporate training modules. They help him recognize the issues that the industry is facing, such as “training delusion” and “coverage,” or covering too much material in different ways, which dilutes the impact of the training itself.

Hook Security is currently in the process of launching a nonprofit to sponsor more research on how people are socially engineered and manipulated through technology. Eikenberry wants the nonprofit, “to bring all the psychological security research to the marketplace, so that we can start showing other companies how to leverage how our brains actually work into security training.” Beyond corporate training, he hopes that the nonprofit can help people differentiate between authentic and inauthentic news stories.

 

Zach Eikenberry believes in Hook Security’s capacity to create a new market category by shifting the thinking around training, psychological security and recognizing and responding to manipulation. Ultimately, he says, “we’re bringing a new point of view to an industry, who keeps trying the same things over and over again, and trying to build better mousetraps.”

 

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HealthTech App eRemede Raised $1.55M in Seed Round https://gritdaily.com/eremede-raised-1-55m/ https://gritdaily.com/eremede-raised-1-55m/#respond Thu, 15 Jul 2021 14:51:48 +0000 https://gritdaily.com/?p=72098 HealthTech app eRemede raised $1.55M from 2 investors in their latest seed round. The company, which initially focused on pre and post op surgery, from prescription reminders to HIPAA compliant […]

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HealthTech app eRemede raised $1.55M from 2 investors in their latest seed round. The company, which initially focused on pre and post op surgery, from prescription reminders to HIPAA compliant messaging between doctors and patients, will use the funds to expand its reach to include data analytics and telehealth services.

 

Grit Daily caught up with eRemede founder Ben Sever to discuss the company’s next steps with this latest influx of capital. On the expansion in services, Sever says, “We kind of wanted to look at a more macro view, because obviously COVID put a lot of emphasis on front office of healthcare, which traditionally didn’t get much attention from technology or investors.” Despite the investors never having previously invested in the healthcare space, they trusted Sever’s entrepreneurial track record and decided to pull the trigger on funding.

 

The “lite” version of the application came to market last year, but as the code is already built out, the more expansive version will hit the market in the next 6-8 weeks. eRemede is building relationships with health systems around the country to provide HIPAA compliant telehealth services and data analytics which, Sever believes, will encourage doctors to adopt the latest best practices more quickly. The data analytics will allow health systems to see doctor to patient response rate, as well as prescription adherence for patients. Sever says, “It’ll be data analytics on both sides from an adherence level, and also a provider level so there’ll be accountability on both sides.”

 

The healthcare sectors that seek to gain the most from eRemede’s platform are those that are the most information heavy. Health systems can use the data to better understand patient outcomes across sectors. As of now, Sever believes that the technology will hit hardest in the orthopedic and cosmetic surgery realms, but he believes that cardiology and ophthalmology will be close behind in useful uptake of the technology.

 

The success of the enterprise is due in part to the fact that the entire eRemede team is certified in Agile, a collaborative project management ideology. Using the skills attained through their Scrum Master Certification, the team has collaborated with all relevant stakeholders in the development of the application to make sure that the finished product fits everyone’s needs. Leveraging his relationships with Moffitt Cancer Center, AdventHealth and the Tampa Bay Chapter of the American Heart Association, Sever says, “We actually built the tech in tandem with the leaders in the community, so it was a very collaborative, agile way of developing our software and ensuring that it’s not just our vision, but it’s a co creation—a vision with some of the thought leaders in the area.”

 

Research has shown that patients are most engaged with mobile-first platforms, and eRemede is available on iOS, Android, tablets and the web. Sever believes that eRemede is filling a gap in the healthcare space, and that providing better data analytics will allow for better health outcomes and lower costs across the board.

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Morphogenesis Receives Federal Funding for Cervical Cancer Therapeutic Treatment https://gritdaily.com/morphogenesis-receives-federal-funding-for-cervical-cancer-therapeutic-treatment/ https://gritdaily.com/morphogenesis-receives-federal-funding-for-cervical-cancer-therapeutic-treatment/#respond Wed, 07 Jul 2021 19:45:56 +0000 https://gritdaily.com/?p=71791 Morphogenesis, Inc. recently received federal funding for a cervical cancer therapeutic drug they are developing for low resource populations in countries with limited healthcare infrastructure. The National Cancer Institute and […]

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Morphogenesis, Inc. recently received federal funding for a cervical cancer therapeutic drug they are developing for low resource populations in countries with limited healthcare infrastructure. The National Cancer Institute and the National Institutes of Health awarded the $400,000 grant, after the company’s Small Business Innovation Research (SBIR) proposal received high scores. Grit Daily caught up with Morphogenesis CEO Dr. Patricia Lawman, to discuss the funding, which was awarded in partnership with the pharmaceutical compounding company, Medisca.

 

Dr. Lawman says, “Cervical cancer is one of the biggest problems for women across the world—in Africa, in India—it’s really one of the highest causes for death.” The therapeutic treatment, IFx-Hu2.0, is currently administered via direct injection into the tumor, but low-resource communities may not have easy access to imaging software that would make such injection feasible. Therefore, Morphogenesis’ scientists are working on a way to keep the nucleic acid compound from degrading in warmer temperatures. The team’s ultimate goal is to make the therapy easy enough for women to treat themselves.

There are a lot of factors for the research team to consider when treating low resource populations. Dr. Lawman says, “There are logistical issues of whether there’s a clinic whether there’s equipment at a clinic, whether there’s training staff at the clinic and then whether people can even get to a clinic. So we wanted to try our best to be able to address all these issues.” The team aims to make something that all women, regardless of their situation, can access. The grant funds were awarded in April, and Dr. Lawman reports that the team is already making good progress.

Most SBIR grants come in 2 installments of $150,000 over 6-month periods, but the $400,000 grant awarded to Morphogenesis allows for research over a full year term. When the team has created a compound that can remain stable at higher temperatures, they will apply for phase 2, which offers funding up to $2M. At that stage, they will run clinical trials, likely within the U.S. To run trials in their low resource countries of interest, India and South Africa, the group will have to negotiate with the host countries’ FDA (or its equivalent agency,) after getting the proper licensing, to run trials on populations there.

The prevalence of cervical cancer in the U.S. has decreased over the past 40 years due to women getting regular Pap smears, as well as the development and widespread administration of the HPV vaccine. In poorer countries, access to such medical tests remains comparatively low. There are low resource communities within the U.S. that could benefit from an easily administered cervical cancer therapeutic treatment, but the research being done on IFx-Hu2.0 to make it widely accessible could have positive implications for women all over the world.

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Mitigate Partners’ Employer Day Empowered Participants to Challenge the Healthcare System https://gritdaily.com/mitigate-partners-employer-day-empowered-participants-to-challenge-the-healthcare-system/ https://gritdaily.com/mitigate-partners-employer-day-empowered-participants-to-challenge-the-healthcare-system/#respond Thu, 24 Jun 2021 21:19:58 +0000 https://gritdaily.com/?p=71208 Mitigate Partners recently hosted their annual Employer Day, with the theme of “Demystifying Healthcare Costs – Controlling Costs is not a Spectator Sport! How to Crawl, Walk, Run, and Fly.” […]

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Mitigate Partners recently hosted their annual Employer Day, with the theme of “Demystifying Healthcare Costs – Controlling Costs is not a Spectator Sport! How to Crawl, Walk, Run, and Fly.” The event took place on June 7th at The Gasparilla Inn Beach Club in Boca Grande, Florida, and focused on issues like price transparency, keeping doctors independent and empowering everyday individuals to be their own advocates. The event boasted a lineup of speakers from every corner of healthcare—or at least those concerned with reducing costs for employers and patients. Mitigate Partners negotiates lower healthcare costs on behalf of employers, so they can offer their employees better coverage at a reasonable price. The conference showcased the team’s successes and discussed what still needs to be done to keep everyday people from going bankrupt because they fall ill.

 

Grit Daily caught up with some of the event’s speakers to hear about the points they touched upon, and why they found value in participating in the event.

 

Price Transparency

Cynthia Fisher, founder of the advocacy organization that runs PatientRightsAdvocate.org, spoke about the issue of price transparency in healthcare. Fisher founded the website after working in the medical field and seeing people file for bankruptcy because of medical conditions. Just before starting the site, Fisher thought, “I’m at a time in my life where I can go to Washington and hire the right law firms to look where all the patients and people have a voice to be able to see prices before we get help there, so we can prevent all of these people I know from being devastated financially by overcharges and bills they never expected to pay.” Fisher believes the country is at a precipice, where hospitals and insurance companies will be forced to disclose data to the American consumer. She believes, “It’ll be much like what happened in the airline industry. In 1978, President Carter deregulated the airline industry. By making prices become transparent to the public, rather than just being with the travel agents, it totally shifted the power into the hands of the consumer.” Now, because consumers can easily compare prices, airfare is priced more competitively.

 

Independent Doctors

Marni Jameson Carey, Executive Director of the Association of Independent Doctors, spoke about independent doctors’ roles in keeping healthcare costs down. She says, “There’s a big move in this country for hospitals and private equity groups to buy up doctors and turn them into employees, which are really commodities.” These doctors then work on quotas, which give the hospitals more bargaining power with insurance companies because of their sheer scale. Carey’s organization fights to keep doctors independent so that they have more freedom and can offer patients more reasonable costs by omitting things like facility fees.

 

 

Empower Yourself

Another prominent speaker was an investigative journalist for ProPublica, Marshall Allen, whose book Never Pay the First Bill, hit shelves this week. At Employer Day, Allen discussed how patients can empower themselves to become savvy healthcare consumers. He describes his book as, “practical, actionable things that each of us can do to protect ourselves and to make sure that we aren’t paying more than we should,” for healthcare. While Allen was writing the book, he saw first-hand how institutions try to rip off consumers when his own mother was the victim of price gouging. Allen believes that it is up consumers to become knowledgeable about the healthcare system, and to stand up to hospitals and insurance companies trying to push unnecessary tests and medications upon them.

 

Over the years, Mitigate Partners has saved employer groups millions of dollars. One of their clients is The Gasparilla Inn & Club, where the event was held. The business has been able to pass savings onto its employees by using common sense cost cutting measures, like requiring that employees check with a cost and quality partner about which doctors have better outcomes for various medical procedures before undergoing the procedure. Glenn Price, CFO of The Gasparilla Inn, says that the company’s experience with Mitigate has allowed them to offer more robust coverage to their employees and even to eliminate deductibles.

 

In all, Employer Day was a success. Participants could have come out of it feeling disheartened about the current state of healthcare in America or optimistic about its future. There were some devastating stories about consumers who had to file for bankruptcy after treating their medical conditions, but the event showed that there are ways to keep costs down and still get quality care.

 

Institutional changes to America’s healthcare system seem far off, but Employer Day displayed how smaller entities can stand up on behalf of their employees to demand reasonable prices. Marshall Allen summed it up when he said, “No one is coming to our rescue. No one is going to really solve this for us.” For now, it looks like it is up to the everyday consumer and employers to challenge the status quo of America’s healthcare system at every turn.

 

 

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Upsurge Florida Hosts “Inside the Investor’s Mind” Event to Demystify Early Stage Investing https://gritdaily.com/upsurge-florida-hosts-inside-the-investors-mind-event-to-demystify-early-stage-investing/ https://gritdaily.com/upsurge-florida-hosts-inside-the-investors-mind-event-to-demystify-early-stage-investing/#respond Thu, 24 Jun 2021 18:06:35 +0000 https://gritdaily.com/?p=71191 On June 30th Upsurge Florida, the partnership between Tampa Bay Wave and StarterStudio in Orlando, is hosting a live-streaming investment roundtable called “Inside the Investor’s Mind.” The 1.5 hour event’s […]

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On June 30th Upsurge Florida, the partnership between Tampa Bay Wave and StarterStudio in Orlando, is hosting a live-streaming investment roundtable called “Inside the Investor’s Mind.” The 1.5 hour event’s aim is to educate people who are interested in getting into the angel investing space, so that they understand what to look for, what questions to ask and how to determine which companies are worthwhile investments. They will also get a chance to connect with well-vetted startups seeking capital that were referred by the accelerators.

 

Upsurge Florida is “on a matchmaking mission to connect new or inactive accredited investors with promising, early-stage technology companies located in central Florida.”

 

Both Tampa Bay Wave and StarterStudio have vast investor networks and are focused on tech innovation within the state of Florida. Upsurge Florida was formed through a grant allocated by the Economic Development Administration (EDA) in 2018. The partnership intends to focus on investment into tech startups within the I-4 corridor, from the Gulf Coast to the Space Coast.

 

Event speakers will include startups and accredited investors. Companies will make their pitches to VCs, and spectators will observe the interactions, such as what questions the investors ask the founders to get a better idea of how far along the company is in its business development. The event will conclude with a live investor panel Q&A. The 3 startups making their pitches at the event are Home Lending Pal, a real estate platform focused on creating a more equal playing field for new homeowners; Wedzee, a wedding item resale platform; and Bacarai, a site for finding and booking group airfare deals.

 

Grit Daily caught up with Michael Burns, co-founder of Wedzee, the platform designed to make buying and selling new, used or handmade wedding items easy, to understand how he believes the event will benefit the early stage investment community. Burns believes that the event will be valuable to those interested in angel investing because they, “will be able to get a sneak peek look inside what it’s like to be in a pitch in a room… and get a better idea of how the investment scene, or investing, works.” Burns has prepared a pitch deck that lays out his company’s aims, growth and needs. His participation in Tampa Bay Wave’s accelerator program prepared his company for investor networking and pitch events.

 

Upsurge Florida is made up of business leaders and investors with a focus on making Florida a tech business hub, and ensuring that investment does not pass over the state. They especially benefit companies at the first stage of commercialization where additional capital is needed to reach benchmarks that attract traditional VCs. Both Tampa Bay Wave and StartupStudio are nonprofit accelerator programs that seek out the best and brightest founders leading innovative companies, and help them get to the next stage of growth through business coaching, workshops and networking events where they can connect with investors. The “Inside the Investor’s Mind” event takes place on June 30th at 12PM, and is free of charge.

 

 

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Linqto to Host Global Investor Conference on June 22nd https://gritdaily.com/linqto-to-host-global-investor-conference-on-june-22nd/ https://gritdaily.com/linqto-to-host-global-investor-conference-on-june-22nd/#respond Tue, 22 Jun 2021 00:13:40 +0000 https://gritdaily.com/?p=71125 Linqto is set to host its quarterly Global Investor Conference on June 22nd. The 10-hour event is free of charge and offers panel discussions from top-level venture capitalists, CEOs, attorneys […]

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Linqto is set to host its quarterly Global Investor Conference on June 22nd. The 10-hour event is free of charge and offers panel discussions from top-level venture capitalists, CEOs, attorneys and experts from a variety of fields. The virtual gathering aims to allow investors to network and discuss future tech investments and market trajectories. Topics covered will include digital assets, gaming, space tech, artificial intelligence (AI) and NFTs — all very relevant in the current economic landscape, where earlier this year an NFT sold for $69M, and more recently Jeff Bezos announced his plan to rendezvous in space.

 

Notable Speakers

Speakers for this quarter’s GIC include J.P. Theiriot, CEO of Uphold, a company offering ‘anything to anything’ conversions, including heavy metals, crypto and international currencies. Uphold recently joined Linqto’s investment platform, which allows accredited investors to buy stock in private unicorn companies. The CEO and founder of Global ID, Greg Kidd is also set to speak. Global ID offers identity verification using third party providers without requiring users to share private information. Privacy concerns are front and center after recent cyber attacks targeting infrastructure and Congressional hearings over social media’s use of users’ private data.

 

Panelists

The conference will host 15 panels via Zoom, so participants can stream the conference live from anywhere in the world. There will be robotics experts like Jason Walker, CEO and co-founder of Waypoint Robotics and Fady Saad, co-founder of MassRobotics, as well as blockchain and cryptocurrency experts Jakub Zakrzewski, Managing Director at Kraken, and Kinjal Shah, Senior Associate at Blockchain Capital, LLC. Other panelists come from companies focused on digital asset trading, World Bank investments and electric vehicles. In all, the GIC will have 30 speakers from all around the globe.

 

Linqto hosts the conference to bring together investors from bourgeoning sectors to allow for collaboration and a better understanding of market trends. The platform is committed to democratizing the investment space, a hot topic in recent months as small time investors have experienced high profile barriers to entry that have piqued government regulators’ interests.

 

This quarter’s GIC may also address post-covid market trends. While inflation has many investors worried, vaccination rates have allowed the American economy to open up more now than at any time during the past year, meaning there could be more to gain but also more to lose. 2020 saw double the IPOs of 2019, and investors understand that timing is everything. The Global Investor Conference aims to shine a light on the value of democratized investment, and to bring unique perspectives to both longtime and novice investors alike. The GIC is free of charge and will take place between 8AM-6PM Pacific Standard Time via Zoom.

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