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Five Startups on Fast Track to Grow Their Businesses Courtesy of Baltimore’s Big Names in Fitness and Health Care - 09/06/2017
Five Startups on Fast Track to Grow Their Businesses Courtesy of Baltimore’s Big Names in Fitness and Health Care
M-1 Ventures’ accelerator program to provide emerging businesses funding and mentorship from experts at Johns Hopkins, Plank Industries and the University of Maryland
Release Date: September 6, 2017
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Today, M-1 Ventures announced the five startups selected to participate in an intense 16-week program in Baltimore designed to set emerging businesses in the connected health and fitness industry on a fast track to success. This accelerator program operates with the support of Johns Hopkins Technology Ventures, Plank Industries, the University of Maryland (through UM Ventures), Brown Advisory and the Abell Foundation.
Each member of M-1 Ventures’ cohort has an innovative technology that ultimately empowers people to get healthy, stay healthy and achieve wellness goals, or that improves patient and financial outcomes and the efficiency of health care providers.
“The startups in M-1 Ventures’ first-ever cohort each have an ambitious and innovative solution to a health and wellness issue, the talent and passion to accelerate their development, and the capability to leverage the resources that our accelerator provides,” says Tony D’Agostino, a co-director of M-1 Ventures along with Paul Singh. “We believe support from M-1 Ventures will help startups build on the traction they have already established and reach their potential.”
M-1 Ventures — which is receiving additional support from the Maryland Department of Commerce and VilCap Communities — kicked off Sept. 5 and features the following startups:
- BurnAlong — Online video fitness and wellness platform that enables people to work out with top instructors across the country and their friends
- b.well — Online platform that places consumers at the center of their health care by simplifying access to health data, insurance and on-demand health services
- EduMD - MileMarker™ is an on-the-job, real-time assessment software for surgical training
- MotionVibe — App designed to maximize fitness outcomes by connecting users with a community of fitness consumers and professionals
- RoundTrip — Online platform that connects hospitals and patients with on-demand, nonemergency medical transportation
"We are excited to join such a prestigious group of experienced entrepreneurs, investors and health care organizations,” says Angela Damiano, the corporate administrator of RoundTrip, a startup based in Philadelphia. “The Baltimore area has incredible voices in health innovation, and we at RoundTrip can’t wait to be a part of it. With M1 Ventures’ help, we know RoundTrip can improve access to transportation for patients and care coordinators in Baltimore and beyond."
By focusing solely on health and fitness, M-1 Ventures provides an opportunity to leverage Maryland’s anchor organizations — including prestigious research institutions and one of the world’s most successful athletic performance companies — as well as its proximity to government institutions such as the National Institutes of Health, Centers for Medicare & Medicaid Services and the Food and Drug Administration.
The accelerator provides one-on-one mentorship from experts at Johns Hopkins, Plank Industries and the University of Maryland. The mentors have been hand-selected to ensure each startup receives industry insights and guidance particular to their business.
"We're honored to be selected to participate in M-1 Ventures, and are excited for the opportunity to learn from Paul Singh, Tony D'Agostino and other Baltimore ecosystem experts,” says Daniel Freedman, the co-founder and co-CEO of BurnAlong. “As we prepare to scale BurnAlong nationally, M-1 Ventures will prove invaluable as it provides guidance from those who have done it before and those who can help us navigate exciting, new opportunities and markets."
In addition to mentorship, M-1 startups receive $25,000 in investment funding and the opportunity to earn one of two additional investments based on ratings from their peers in the program. This peer-review model for awarding startup investments was introduced by venture capital firm Village Capital.
Toward the end of the program in December, M-1 Ventures will hold a Demo Day during which each startup will pitch top investors in the connected health and fitness sector and from the mid-Atlantic region as well as engage potential collaborators and customers.
“Maryland’s vast pool of talented, creative and visionary entrepreneurs are part of what makes us one of the most innovative states in the country,” says Maryland Commerce Secretary Mike Gill. “Our department is proud to support this program, which we believe will propel these emerging businesses to the top of the health and fitness industry so they can help people lead healthier lives.”
For more information about M-1, visit their website.
About Johns Hopkins Technology Ventures
Johns Hopkins Technology Ventures (JHTV) is The Johns Hopkins University’s intellectual property administration center, serving Johns Hopkins researchers and inventors as a licensing, patent and technology commercialization office and acting as an active liaison to parties interested in leveraging university research or materials for academic or corporate endeavors. JHTV helps develop discoveries and inventions into products and services that benefit society and transform the world. In 2016, JHTV secured more than $58 million in licensing revenue, possessed more than 2,454 active issued patents and created 22 new startup companies. For more information about Johns Hopkins Technology Ventures and opportunities to collaborate, start a technology venture or license a technology, visit their website.
About Plank Industries
Plank Industries is a privately-held company with diversified holdings in commercial real estate, hospitality, food and beverage, venture capital and thoroughbred horseracing, all under the Sagamore group of brands. The company is based in Baltimore, MD, USA. Under the leadership of Tom Geddes, ClEO, Plank Industries serves as the family office and investment arm of Kevin A. Plank, founder, Chairman and CEO of Under Armour, Inc.
About UM Ventures
UM Ventures is a joint initiative of the MPowering the State Program, bringing the University of Maryland, Baltimore and University of Maryland, College Park together to commercialize discoveries, and create economic impact by engaging partners in industry and social ventures. By encouraging students and faculty, providing expert advice and business services, more discoveries will reach the market. By engaging directly with external partners, UM Ventures brings new investment, expanded markets and more startup ventures.
About Brown Advisory
Brown Advisory is an independent investment firm committed to providing its clients with a combination of first-class investment performance, strategic advice, and the highest level of service. Founded in 1993 as an affiliate of Alex, Brown & Sons, a leading U.S. investment bank, Brown Advisory became independent in 1998. Today the firm serves private clients and institutions in 34 countries from eight offices globally. The firm’s colleague equity ownership, experienced investment professionals, collaborative investment process, and client-first culture help to make a material difference in the lives of its clients. For more information, please visit their website.
About Abell Foundation
The Abell Foundation is a private foundation dedicated to the enhancement of the quality of life in Maryland, with a particular focus on Baltimore City. The Foundation places a strong emphasis on opening the doors of opportunity to the disenfranchised, believing that no community can thrive if those who live on the margins of it are not included. Consistent with its mission, the Foundation has allocated a portion of its investment portfolio to early-stage companies that offer significant social and economic benefits to the people of Baltimore City.