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RAMP welcomes 5 startups into Fall 2023 Cohort 900 510 RAMP - Regional Accelerator

RAMP welcomes 5 startups into Fall 2023 Cohort

FOR IMMEDIATE NEWS RELEASE

September 12, 2023 (Roanoke, Va.) – From Fairlawn to Fairfax and from bioinformatics to bioeconomies, RAMP is pleased to welcome five startup companies into a Fall 2023 cohort that represents cutting edge health and life science ventures from across the Commonwealth.

“We’re thrilled that our program is attracting such a diverse array of innovative entrepreneurs from all over Virginia,” said Sarah Spotswood, Managing Director. “It’s a testament to the health and vibrancy of the Roanoke-Blacksburg technology ecosystem.”

RAMP will host a “Meet the Cohort,” open to the public, on October 12 at 5 p.m. at The Shenandoah Club in Roanoke. Cohort members are:

  • Oak Bioinformatics, LLC (Fairfax) develops software that helps researchers and consumers save time, effort and money in analyzing genomic variants. Consumers are able to know more about themselves with the help of the company’s DNA exploration software.
  • Performance Medical Technologies (Charlottesville) is a clinical data science and product development company focused on nicotinamide adenine dinucleotide, or NAD+, a naturally reoccurring coenzyme that plays an essential role in metabolism, mitochondrial functioning, and overall cellular health. 
  • LymphaVibe (Roanoke) provides wearable solutions tailored for at-home care of patients with lymphedema. LymphaVibe’s device utilizes motors that provide targeted customized vibration mimicking the techniques used in manual lymphatic drainage massages and can be controlled through an app that offers customization options, enabling clinicians to prescribe personalized treatments to patients as needed. 
  • Good Foods Group, LLC (Dublin) seeks to manufacture functional foods – bars, shakes, chews and coffee pods – that contain conjugated linoleic acid (CLA), a substance that helps individuals maintain weight, build muscle, and lose fat. CLA currently comes in large capsules that are hard to swallow, leading to low compliance and missing doses. 
  • MacroVation, LLC (Fairlawn) designs sustainable, innovative biomaterials in promotion of a green, circular bioeconomy, such as additives for commodity plastics that render them biodegradable after use, and 3D printable materials derived from seaweed for the manufacture of medical devices (syringes, laboratory equipment, prosthetic foams, etc.).

Since its founding in 2017, RAMP – the Regional Accelerator and Mentoring Program serving western and central Virginia – has accelerated 43 companies that collectively employ more than 600 people and sell products and services to all U.S. states and internationally. 

RAMP is an affiliate of Verge, a collaborative strategic alliance that includes the Roanoke-Blacksburg Technology Council established to grow the region’s innovation economy. Jess Edwards, Verge’s Director of Innovation Studio for a new biotechnology incubator in Roanoke that launches in 2024, will lead the Fall Cohort as interim director of RAMP.

During the 12-week cohort program, startups receive $20,000 in non-equity funding, expert 1:1 mentoring, and free office space with high-speed internet in downtown Roanoke’s Gill Building. RAMP alumni also receive two years of free membership in the Roanoke-Blacksburg Technology Council; one year of membership in Virginia BIO; three years of membership in the Shenandoah Club; membership in GAN for the lifetime of the company; discounted office space; and three additional years of ongoing support through Exit RAMP –  a suite of ever-growing and developing coaching and support services.

The Fall Cohort will conclude with “Demo Day,” scheduled for December 6, when the entrepreneurs will present their companies to the region’s business leaders and investors.

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Contact:

Sarah Spotswood | Managing Director, RAMP
www.ramprb.com | 540.553.6125 | sarah.spotswood@rbtc.tech

Fall 2023 Cohort applications now open! 1024 576 RAMP - Regional Accelerator

Fall 2023 Cohort applications now open!

Applications for the 2023 Health & Life Science Cohort are open! We invite entrepreneurs from all of Virginia.

Download flyer for more info.

RAMP’s in-residence program for Fall 2023 will be geared towards Health & Life Science companies and will offer:

  • $20,000 in equity-free funding sponsored by VIPC
  • 1:1 expert mentoring
  • Access to industry experts
  • 12 weeks of intense curriculum
  • Free office space with high-speed internet access
  • Free membership in: Roanoke-Blacksburg Technology Council (2 years); GAN for the lifetime of your company (each founder is given access to playbooks, mentors and other resources including over $1M worth in perks); Shenandoah Club (3 years); VA Bio (1 year).
  • Discounted office space following your completion of the program
  • Three additional years of ongoing support through Exit RAMP

Throughout the program, you will have the opportunity to focus your intellectual and human capital through objective market validation using proven innovation processes. Far more than customer discovery, the proven curriculum developed for global technology companies provides tools to translate market feedback into actionable business intelligence. Through your work, we will assist in introductions to key financial capital channels, mentors, coaches and partners, including angel, VC, grant-making agencies, bankers and others seeking to invest in startups.

Lisa’s Pitch – May 2023 Newsletter 1024 683 RAMP - Regional Accelerator

Lisa’s Pitch – May 2023 Newsletter

Sunk costs

Is nine years of research and data a sunk cost? It sure doesn’t feel like it.

For those who do not live with an economist like I do, and have not spent many hours arguing over the accuracy of the textbook definition of “sunk cost,” allow me to share the definition in economic terms.

A sunk cost is a cost that has happened that you cannot recover or get back. This may be the cost of a college degree. Sunk cost. Done. Never going to get that back. Concert tickets you bought for friends, but they had a death in the family at the last minute and can’t go. Tickets are a sunk cost. No real loss. In the world of sunk cost, let it go.

But do people actually live that way? Do they feel carefree about the unused concert tickets? I argue it is more likely they do feel some emotional attachment to the investment as seemingly illogical as it may be.

Likewise, entrepreneurial scientists and engineers who have spent years developing a novel solution are hard-pressed to believe that no one is willing to use or buy the solution they created. No one in that situation smiles and says, “Well, the people in the market said they won’t buy my product, so it’s time to move on to new things!” (Emphasis on the word smile.)

Logically, it’s a cost savings to stop the train, get off and get on a new track. You now know there is no market for the product you so passionately created and believed in, it’s time to pivot. 

Emotionally, however, the path forward can be fraught with waves of grief, loss, feelings of failure and fear and disbelief. Lots of disbelief. Questions abound that beg for accurate and meaning-making answers of what feels like an impossible outcome. 

“How could our team be wrong? This solution is so much better than what is available today?!”

“We have been working on this for years and we know more than the customers. They don’t get the value.”

At RAMP, we are helping companies lower their risk and craft business strategies that include data they hear directly from people in the market. It enables them to aim in the right direction.

Here is the bottom line in data-based entrepreneurship: listen to the people that will use the product. Listen to the people who make the buying decisions – who are often not the end users at all. 

At RAMP, we seek entrepreneurs who are ready and excited to dig into the sleuthing nature of this data-gathering and analysis. And, as it happens, we end up working with founders that largely fit that archetype – they are lifelong learners, seekers of accuracy and facts to support the strategies and business models they craft. 

RAMP opens its application process for the fall cohort soon. We are looking for health and life science startup companies. The selection process is competitive and open to Virginia companies and founders who aim to uncover unknown market data that can accelerate and drive their business models. Stay tuned for more details soon!

~ Lisa Garcia, RAMP Director

Lisa’s Pitch – March 2023 Newsletter 552 329 RAMP - Regional Accelerator

Lisa’s Pitch – March 2023 Newsletter

In 2016 I was working for a startup. For free. And then for a piece of the sales. I had a hockey stick moment in my life that was both profitable and memorable.

I fell in love with the world of entrepreneurship and I was already enamored with technology. I find small companies a great fit for me because you get to touch everything! Growing them up a bit is fun, too, I have to admit. 

But something that really made that year special was the fact that our company won a Roanoke-Blacksburg Technology Council Rising Star Award. I remember sitting at the banquet and feeling honored to be there and thrilled with the whole atmosphere. 

RBTC has put out a call for nominations for TechNite awards and I hope you will hit pause and help create a surprising and delightful moment for someone in our tech community. What makes these awards special is the gathering of so many people that share the same desire to build something that enriches both our region’s economy and the landscape of technology.

As someone who has worked with RAMP for nearly five years, I can say I always have a gush of pride when a RAMP company wins an award. 

I remember one year a founder held up his award to me and said, “This is because of you.” I quickly replied that I had nothing to do with it. I explained that I had not nominated the company and I was not on the selection committee. He laughed a little and said that was not what he meant. He meant that I had helped him and his company earn the award through my support. 

Chills. 

So go ahead. Make someone’s day. Nominate one or two or three of the companies that inspire you with their grit and perseverance and the quality of the leadership. Nominate a person whose work stands out and maybe is not well-known … yet. An award from RBTC can be a catalyst to raise brand awareness of both companies and people!

RAMP welcomes 5 startups into Spring 2023 Cohort 875 462 RAMP - Regional Accelerator

RAMP welcomes 5 startups into Spring 2023 Cohort

FOR IMMEDIATE NEWS RELEASE

March 7, 2023 (Roanoke, Va.) – From designing battery electric spotter tractors to developing individualized neuro-oncology treatments for aggressive gliomas, the five companies accepted into RAMP’s Spring 2023 Cohort span the gamut of technology, health science and life science innovation.

“We are thrilled to welcome these inspiring entrepreneurs and help them accelerate their vision,” said RAMP director Lisa Garcia. “Not only are these companies working in fields vital to our economic, environmental and physical health, their success and growth will enhance the technology ecosystem of western Virginia.”

  • Cairina, Inc., located in Salem, provides technologies that non-invasively measure biologic fluid flow using clinically standard imaging protocols for personalized medicine applications.
  • Code One Training Solutions, of Roanoke, offers a tech-driven, revolutionary innovation for American Heart Association CPR certification.
  • MOVA Technologies, of Pulaski, specializes in air capture technology applying sustainable, circular principles to selectively capture and harvest air contaminants as valuable byproducts that can be sold and reused.
  • SchedulerHUB, based in Roanoke, is an intuitive scheduling and analytics platform for manufacturers to manage complex production projects. 
  • Trova Commercial Vehicles, Inc., located in Pulaski, develops battery electric spotter tractors (designed to move trailers and cargo containers around ports, truck terminals and distribution centers) as well as class 8 diesel to electric conversion kits.

The community is invited to “Meet the Cohort” on April 13 at the Shenandoah Club in Roanoke. At the completion of RAMP’s 12-week cohort, the entrepreneurs will present to the community at “Demo Day,” tentatively scheduled for June 8.

As part of the RAMP-in-Residence experience, startups receive $20,000 in non-equity funding, expert 1:1 mentoring, and free office space with high-speed internet in downtown Roanoke’s Gill Building. RAMP alumni also receive two years of free membership in the Roanoke-Blacksburg Technology Council; one year of membership in Virginia BIO; three years of membership in the Shenandoah Club; membership in GAN for the lifetime of the company; discounted office space following completion of the 12-week program; and three additional years of ongoing support through Exit RAMP – a suite of ever-growing and developing coaching and support services.

Founded in 2017, RAMP (Regional Accelerator and Mentoring Program) has accelerated 38 companies to date that collectively employ more than 600 people and sell products and services to all 50 U.S. states and internationally. RAMP is an affiliate of Verge, a collaborative strategic alliance that includes the Roanoke-Blacksburg Technology Council established to grow the region’s innovation economy. 

UPDATE: The Virginia Innovative Partnership Corporation (VIPC) supported 4 out of the 5 cohort companies with a scholarship grant during the 2023 spring cohort, for a total of $80,000 in funding.

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Contact:

Lisa Garcia
Director, RAMP
www.ramprb.com | 540-250-2869 | lisa.garcia@rbtc.tech