A unique startup culture in “RVA”; Wayfair lands big in Michigan; and more! – December 11, 2019
"Money won't buy happiness, but it will pay the salaries of a large research staff to study the problem." Bill Vaughan
Today’s itinerary:
December 6, 2019
TRAILBLAZERS
Michigan security operations turns its eye to marijuana industry 
Photo courtesy: MSO
A Michigan security company specializing in the transportation of diamonds is switching gears to focus on cannabis security. Precision Risk Management Group even changed its name to Marijuana Security Operations to better reflect the company’s new business model.
The company primarily protects cultivation, processing, and testing facilities throughout the state and helps with the transportation of cannabis to dispensaries statewide. The company is in compliance with the METRC safe and secure delivery requirements, by using RFID (Radio Frequency Identification) technology combined with serialized item tracking, the system creates an “end to end” surveillance system.
TeleDentists offer virtual care solution And now virtual dental care is a thing. It’s hard not to daydream about how that might work. Is there a smart doorknob for tying a loose tooth to? An app that scrapes below the gum line? E-floss? Turns out, a Kansas City-based startup, The TeleDentists, is designed to help people with urgent dental problems and no access to a dentist.
The mission is not to replace dentists but to address the two million people who visit emergency rooms each year even though emergency rooms don’t have dentists. A professional diagnosis of an urgent dental problem can also provide peace of mind. Just think: Now Hermey the Elf can see his patients without leaving the Island of Misfit Toys.
Studying the effects of statins on the elderly Wake Forest Baptist Medical Center is collaborating with Duke University Medical Center to investigate the benefits and risks of cholesterol drugs for the elderly. The trial, which bears the most unwieldy acronym in history (Pragmatic Evaluation of Events and Benefits of Lipid-Lowering in Older Adults—PREVENTABLE), is being funded by the National Institute on Aging, which has committed to providing $90 million over the next seven years.
The cholesterol-lowering drugs, called statins, may offer benefits like preventing dementia and disability in elderly patients, as well as potentially reducing heart attacks and cardiovascular-related deaths.
Jeff Williamson, MD, is co-principal investigator of the study and professor of gerontology and geriatric medicine at Wake Forest School of Medicine. He said that the study is part of a federal government push to include older citizens in clinical research and make participation easier for them.
“People in the study will be able to stay at home and have a trained research assistant come to them to do the physical and cognitive function assessments and check on their overall health status. Medications for the study will be shipped directly to their home.”
About 20,000 people 75 or older will participate in the study.
GROUND TRANSPORTATION
Cincinnati airport set to receive $11.6 million in Airport Improvement Program funding The U.S. Department of Transportation and officials from Cincinnati/Northern Kentucky International Airport (CVG) announced on November 22nd an additional $6.1 million in federal funding for infrastructure improvements at the rapidly growing airport in Erlanger, KY, topping the $5.5 million awarded previously in September. The Airport Improvement Program awards grants to US airports to help cover the ongoing costs of maintaining and upgrading runways, taxiways, signage, lighting, and making other facility improvements. The combined $11.6 million will help CVG upgrade existing taxiways and build a new taxiway to help move passengers through one of the nation's fastest growing transportation hubs.
U.S. transportation secretary Elaine L. Chao noted, “Infrastructure projects funded by these grants will advance safety, improve travel, generate jobs and provide other economic benefits for local communities.”
CVG CEO Candace McGraw added, “These funds will ensure continued growth and safe operations with the rehabilitation of two of our taxiways.”
MARK YOUR CALENDARS
Conferences and events for founders InvestMidwest offers a golden opportunity to obtain funding
Presenters start your engines (and mark your calendars): InvestMidwest is coming to the Cortex Innovation Community in St. Louis next April, and it’s an ideal forum for showcasing your ideas and seeking funding. As many as 45 Midwest companies will be selected to present at the conference, which attracts investors from numerous top VC firms. The focus is on life sciences, technology, and food/ag/bioenergy. If you match the criteria—you’re located in the US central corridor; you’re seeking $1M to $20M in funding; and you project revenue of $20M over five years (unless you’re a life sciences company)—you can apply to be a presenting company.
Midwest Private Equity Conference: Networking in Chicago
If you’re a lower middle market fund manager, you may want to check out the networking opportunities at the Midwest Private Equity Conference, which is being held by the Small Business Investor Alliance. The event will take place in Chicago next May and is slated to include numerous sessions, receptions, and chances to hobnob with your VC peers. (There’s even one called Deal Making Chicago Style: A Beer Tasting Networking Reception.) Registration is now open.
Enterprise Rising Conference caters to tech startups, investors
“Come hang with the fastest growing startups in the Midwest, hear from the most successful founders in the Midwest, and meet Midwest's most active VCs.” That’s the invitation from the Enterprise Rising Conference, which will be held in Minneapolis next July. The conference features a huge lineup of speakers, both venture capitalists and founders, and it guarantees “All startups. All enterprise. All tech. All Midwest.” Early tickets are now being offered at a 33% discount.
Midwest Growth Capital Symposium brings founders and funders together
The Midwest Growth Capital Symposium showcases 35 companies in the Midwest that are looking for seed, series A, and series B rounds of funding—and it features another 55 companies in its Tech Transfer Pitch Track. Who can you expect to meet there? Early-stage companies in the life sciences and technology sectors, angel investors, venture capitalists, and tech transfer pros from top-ranked Midwest universities.
The symposium will be held in Ann Arbor next May, and the attendees’ list from last year reads like a Who’s Who of investment firms. You may want to keep your eye on this one.
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