Tag: M-1 Ventures

Startups

M-1 Ventures Introduces First Cohort to Packed House at…

M-1 Ventures Introduces First Cohort to Packed House at Brown Advisory

 
On September 14, more than 100 entrepreneurs, investors and others interested in Baltimore’s startup ecosystem gathered at Brown Advisory’s Fells Point headquarters to meet the inaugural cohort of M-1 Ventures.

The first-year accelerator kicked off on September 5 and features five startups developing an innovative technology related to connected health and fitness: BurnAlong, b.Well, EduMD, MotionVibe and RoundTrip. Each of these emerging ventures aspires to empower people to get healthy, stay healthy and achieve wellness goals or to improve patient and financial outcomes and the efficiency of health care providers.

At the event, investor Paul Singh—who directs the accelerator along with another noted entrepreneur Tony D’Agostino—said each of the startups is beyond the “will it work stage” and are currently at the “how big will it be stage.” Each team is receiving mentorship from experts at Johns Hopkins, Plank Industries and the University of Maryland who specialize in the startup’s area of focus.

Additionally, M-1 startups received $25,000 in investment funding and have 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.

The M-1 cohort

BurnAlong
Challenge: People want to work out with their favorite instructors even when they can’t get to the gym
Solution: An online video fitness and wellness platform enables people to work out with top instructors across the country and their friends
Key stat: BurnAlong has more instructors than all its competitors combined
 
b.Well
Challenge: More and more people are turning to digital health services, but a lack of integration prevents more positive outcomes
Solution: An online platform that puts consumers at the center of their health care by simplifying access to health data, insurance and on-demand health services
Key stat: Over 86% of health care dollars are spent on conditions that are largely preventable
 
EduMD
Challenge: Typically, surgical residents don’t receive immediate feedback about their performance, potentially slowing development
Solution: MileMarker™ is an on-the-job, real-time assessment software for surgical training
Key stat: Hospitals at Johns Hopkins, Emory and Baylor have adopted MileMarker™
 
MotionVibe
Challenge: People have gym memberships, but they still fall short of goals and potential fitness outcomes
Solution: An app that connects users with a community of fitness consumers and professionals
Key stat: In use at 450 gyms and producing revenues of $40,000 per month
 
RoundTrip
Challenge: It takes hospitals hours to book non-emergency transportation
Solution: An online platform that connects hospitals and patients with on-demand, non-emergency medical transportation
Key stat: RoundTrip is seeing a 40 percent monthly increase in rides
 

A local, ‘vertical’ focus

 
The seeds for M-1 Ventures were planted years ago. Singh recalled the initial conversations he had with Johns Hopkins Technology Ventures (JHTV) about bringing an accelerator to Baltimore. Quickly, both parties agreed that an accelerator focused on connected health and fitness could provide the most impact.

“We wanted to create an accelerator that focused on skill sets, industries and talent that are already here,” Singh said.

By focusing solely on the connected health and fitness space, 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. The accelerator is supported by Johns Hopkins, Plank Industries, UM Ventures, The Abell Foundation, Brown Advisory, the Maryland Department of Commerce and Village Capital.

JHTV head Christy Wyskiel cited the need for even more collaboration between those who aspire to improve Baltimore’s innovation ecosystem as a means of bringing the benefits of discovery to the world and revitalizing the local economy

“We need to create a thoughtful connected network,” Wyskiel said. “It’s not going to work if we’re all in our own silos.”

Brown Advisory partner Mike Hankin agreed, discussing Baltimore’s increasingly active innovation ecosystem and his hope for how it will continue to improve.

“Baltimore’s collective efforts are making great strides to foster thought leadership and innovation across the city,” Hankin said. “It’s not where we want to be yet, but it will get there.”
 

Click here to learn more about M-1 Ventures!

 

News

5 Startups on Fast Track Courtesy of Baltimore’s Big…

5 Startups on Fast Track to Grow Their Businesses Courtesy of Baltimore’s Big Names in Fitness and Health Care

 

M-1 Ventures’ accelerator program providing emerging businesses funding and mentorship from experts at Johns Hopkins, Plank Industries and the University of Maryland

M-1 VenturesToday, 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 one 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 Village Capital Communities—kicked off on September 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 puts 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, non-emergency 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 M-1 Ventures’ help, we know RoundTrip can improve access to transportation for patients and care coordinators in Baltimore and beyond.”

By focusing solely on the connected health and fitness space, 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 like the National Institutes of Health, Center for Medicare and 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 where 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,” said 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.”

Click here for more information about M-1.

 

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 new 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, opportunities to collaborate, start a technology venture or license a technology, visit its 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.

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.

 

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