Phraze

Six Local Startups Steamroll into Semifinal Round of Minnesota Cup Business Pitch Competition

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Six Olmsted County teams will advance this year into the semifinal round of the Minnesota Cup. Minnesota Cup, now in its fifteenth season, is the largest state-wide business plan competition in the United States. This five-month long competition, run through the University of Minnesota’s Carlson School of Management, provides teams with mentorship, connections, and more. Teams also compete for a slice of seed prize money, totaling $500,000 this year. 

Ninety Minnesota-based teams remain in the competition, spread across nine different divisions. Semifinalists from Olmsted County include: Busy Baby LLC, HipStar LLC, Phenomix Sciences, Phraze, Amicii, and DiscoverMe.

 

Busy Baby LLC (General Division, Women-Led, Veteran-Led)

Busy Baby LLC, led by mompreneur Beth Fynbo, has developed a 100% silicone mat that suctions to smooth surfaces. The mat contains a proprietary tether system to attach toys to the mat so toys remain within baby’s reach and germ-free.

 

HipStar LLC (General Division)

HipStar has created a hands-free travel cart, which attaches to the hip, to increase mobility during travel.

 

Phenomix Sciences (Life Science/Health IT Division)

Phenomix Sciences, founded by Mayo Clinic physicians Dr. Andres Acostas and Dr. Michael Camilleri, aims to fight obesity. Phenomix Sciences has developed a blood test to categorize obesity patients into specific sub-types for improved targeting of therapeutics.

 

Phraze (Life Science/Health IT Division)

Co-founded by Mayo Clinic physician Dr. Brandon McCutcheon, Phraze has developed an AI medical scribe that reduces screen time between patients and physicians, increases the note taking capacity of physicians, and enhances clinical workflow.

 

Amicii (Youth Division)

Amicii, founded by John Marshall High School student Daniel Fleury, utilizes deep learning to deliver medical diagnostics for diseases such as pneumonia or skin cancer in under five seconds.

 

DiscoverMe (Youth Division, Minority-Led, Women-Led)

The DiscoverMe app was created by an all-female team of Mayo and Century High School students as part of Technovation[MN]. Technovation[MN] is the local chapter of the global Technovation challenge to empower teen girls to use coding to solve real problems they see in their everyday lives.

 

Congratulations to the six Olmsted County teams remaining in the competition! The semifinal round of Minnesota Cup will run into late August. Each division will narrow from ten semifinalists to three finalists to enter into the next stage of the competition this September. The Minnesota Cup will culminate in a final awards ceremony on October 14th in Minneapolis.

Four Rochester Biotech Teams Showcase Technology at Seventh Walleye Tank Business Pitch Competition

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Four Rochester biotech startup teams competed in the seventh Walleye Tank business pitch competition this May in Minneapolis for the chance to enter into the semifinal round of the Minnesota Cup. Eighteen total startups pitched their technologies at this event. At the end of the competition, Twin Cities startups Ascension and Morari Medical walked away as overall winners.  

Startups enter into this biotech competition in two different categories: the Junior Angler or Professional Division. Junior Anglers are newer teams with ideas at the pre-prototype stage. Professional teams are further along in the business development process and may have a minimal viable product, market traction, and sales. 

Teams are judged by a panel of startup and business development experts called Walleyes. This year, Junior Anglers were judged by: Perry Hackett, serial entrepreneur and Professor of Genetics, Cell Biology, and Development at the University of Minnesota; Susan Kimmel, market research expert and Gopher Angel; Traci Downs, serial entrepreneur and founder of Collider Coworking and Area 10 Labs; Mary MacCarthy, entrepreneur and Venture Center Program Manager with the University of Minnesota’s Office of Technology Commercialization; and bio tech expert Fernando Bazan. Professional teams were judged by: Sara Russick, entrepreneur and founder of investment groups Gopher Angels and Capita3; Julie Henry, Director of Business Operations for Mayo Clinic Ventures and Mayo Clinic’s Department of Business Development; Russ Straate, Associate Director of the University of Minnesota Venture Center; and Meg Steuer, Manager of Forge North with Greater MSP.

Four teams from Rochester participated in Walleye Tank including Smart Lead and MD to Me in the Junior Angler Division and Phenomix and Phraze in the Professional Division.

Smart Lead, presented by Dr. Alaa Sada, is tackling an uncomfortable garment, the radiation shield, that’s required to be worn by healthcare providers anytime they are exposed to radiation. The vest weighs about ten pounds and is often worn for very long hours. Use of the garment can lead to discomfort, bodily pain, burnout, and musculoskeletal injury. To solve this problem, the team behind Smart Lead is developing a more ergonomic vest that will continue to provide radiation protection with increased comfort due to added technology. The Smart Lead team of Mayo Clinic physicians is now working with Mayo Clinic’s Department of Business Development and Division of Biomedical Engineering to develop their first prototype. They estimate a $2.75M market for their product at Mayo Clinic alone. 

MD to Me, presented by Mayo Clinic graduate student Chris Paradise, aims to “take back control of high blood pressure.” Approximately 100M Americans are affected by high blood pressure. Only 50% of these patients have the disease under control with about 1,000 deaths occurring each day from hypertension related conditions. To solve this problem, MD to Me is developing an IoT blood pressure cuff paired with an app platform to provide real time blood pressure data to patients. Blood pressure data will additionally be monitored by a physician. The team aims to reduce medical and ER visits with their technology.

Phenomix Sciences, presented by COO Ross Higgins, is a Mayo Clinic startup founded by two physician researchers. The business aims to provide a precision medicine, multi-omics approach to treat obesity. Over 40% of the US adult population is obese, leading to $480B of direct costs to the healthcare system annually. In addition, two-thirds of obesity patients do not respond to their prescribed treatments. To solve this problem, Phenomix is pairing an AI-driven algorithm with a panel of biomarkers, which they’ve licensed from Mayo Clinic, to develop the first blood test to segment obesity patients for therapeutic targeting.

Phraze, presented by COO Jack Schneeman, has developed an AI-driven medical scribe to automate a significant portion of physician medical note taking requirements. More than 50% of physician time is spent on Electronic Medical Record (EMR) documentation. This amount of documentation is the number one cause of physician burnout. Burnout, in turn, can cause a 300% increase in the medical error rate. Phraze’s technology was shown to save about 1.5 hours per day for physicians based on simulations and testing. 

Twin Cities-based team Ascension was named the overall Junior Division winner of Walleye Tank. This startup, presented by product design engineer Lyndsey Calvin, is developing innovative solutions for transgender health. Vaginoplasty, a current care option for transgender women, involves the surgical reconstruction of the vagina. This procedure has a 50% complication rate, costing over $25,000 per patient to treat. To solve this problem, Ascension is creating a single use flushing stent to provide an improved care option. The stent is placed in the vagina during the vaginoplasty procedure and is replaced monthly for the first ninety days with a larger sized stent. This process replicates dilation and reduces the burden of compliance barriers for vaginoplasty patients. Ascension is currently targeting a $1.5B marketing that’s growing at a 41% rate.

Minneapolis-based Morari Medical won this spring’s Professional Division of Walleye Tank. This startup, presented by CEO Jeff Bennett, is developing the first ever device-based solution to premature ejaculation (PE). PE is the number one sexual dysfunction in men. It affects one in three men and results in decreased quality of life for both men and women. The Morari team is addressing this problem through neuromodulation with a small, band-aid sized device to inhibit neural activity and delay an ejaculation.

Congratulations to all the Walleye Tank participants. Best of luck to Ascension and Morari Medical in the Minnesota Cup! Look for Walleye Tank to return to Rochester for the eighth edition on December 6th. 

Busy Baby LLC Wins Fourth Annual Ignite Cup

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Tuesday night entrepreneurship took center stage at the Ignite Cup in Red Wing. Five startups, including four with Rochester ties, pitched their innovations for a guaranteed spot in the semifinal round of the Minnesota Cup, the largest statewide business pitch competition. Oronoco-based business Busy Baby LLC walked away as the winner of the 2019 Ignite Cup and will compete in the Minnesota Cup for the second consecutive year. 

Busy Baby LLC was launched by entrepreneur, US veteran, and mom Beth Fynbo. This innovator has created and manufactured a 100% FDA-approved silicone mat with a proprietary tether system to keep babies from tossing toys and other items onto the floor, keeping these objects germ-free. Since Fynbo’s run at the Minnesota Cup last year, where she made it to the semifinal round, she developed a prototype of the Busy Baby mat and has earned $12,000 in sales this year. Fynbo currently manufactures the mats in China but hopes to move production to the US at some point. She currently sells the product from her website and is beginning to formulate retail packaging. 

Additional startups pitching at Ignite Cup included GoAdvntr, Phraze, Shrpa, and SkyWorks.

GoAdvntr is a Winona-based business to help people seek adventure and “experience something new.” This business, pitched by CEO and Founder Brian Kugel, is an online marketplace where local businesses can list their experiential adventures and connect with consumers. GoAdvntr aims to use a “community first approach” and is focused on launching their product in southern Minnesota. GoAdvntr currently has sixteen host businesses offering twenty-eight different adventures in line for when the product launches. They aim to scale to 125 hosts by the end of 2019.

AI medical scribe Phraze was pitched by current Rochester resident and co-founder Brandon McCutcheon. Phraze automates documentation for physicians, reducing physician burnout and beginning the documentation process before the physician even enters the exam room. The startup’s four co-founders estimate that Phraze will save ~1.5 hours of physician time per day based on early testing, leading to over $9M per month in cost savings. Phraze filed a provisional patent on their technology in March and aims to obtain one hundred users by the end of 2019. The startup has raised $135,000 of seed funding to date.

Shrpa, a Rochester-based app to connect people to their communities, was pitched by co-founders Chris Lukenbill and Andy Vig. Shrpa provides users with handcrafted itineraries created by local guides, allowing users to experience a community and navigate the logistics of that experience like a local. The idea for Shrpa was created this January and the MVP will launch this month. By the end of the summer Lukenbill and Vig aim for 20K trips to be taken via Shrpa. The original focus for the product is on Rochester and the immediately surrounding area. 

SkyWorks, also based in Rochester, was the final pitch of the night. This startup was founded by Sam Barsness, AJ Hawkins, and Ahmed Makkawy. SkyWorks aims to provide a new standard in commercial real estate transaction processing to create less work for agents, reduced risk for brokers, and more loyal clients. The startup is tackling a $65.1B target market.

Congratulations to all the teams that pitched at the fourth annual Ignite Cup. Best of luck to Beth Fynbo as she represents the region at Minnesota Cup. And a big ‘thank you’ to Red Wing Ignite Executive Director Neela Mollgaard and her team for creating another engaging platform for entrepreneurship.