Inscope Medical Wins 2015 Vogt Invention and Innovation Award
Inscope Medical Solutions, a Louisville-based startup, won $100,000 in non-diluted grant funding—an opportunity with little comparison across the country. The company was deemed the most viable of five finalist companies in a culminating presentation after an intense 12-week program in front of influential investors and community members at Vogt Demo Day 2015 as part of the Vogt Innovation and Invention Awards.
Inscope Medical Solutions developed an innovative technology that optimizes airway intubation, improving the high-risk procedure’s efficiency, speed and safety – saving lives and lowering costs to healthcare providers. Their core team consists of Maggie Galloway – CEO, Dr. Mary Nan Mallory – CSO and Adam Casson – COO.
“To receive this honor, it means a lot to us,” said Maggie Galloway. “The talent, mentors, and connections in this community are invaluable at our stage. To be able to participate in this program since August has allowed us to move quickly through the product prototyping process. We feel honored to receive this much support from our community.”
This past August, five finalists received a $20,000 development grant, weekly one-on-one business coaching by the EnterpriseCorp staff and mentors, participated in a 10-week Lean Start-Up course by Nucleus: Kentucky’s Life Sciences and Innovation Center, and prototype development resources through the University of Louisville’s Rapid Prototyping, GE’s FirstBuild and LVL1 Hackerspace. Winners also participated in Louisville Mini Maker Faire and were encouraged to network within the entrepreneurial community through Venture Connectors.
“Vogt Demo Day is a continuously evolving program,” said Lisa Bajorinas, Director of Kentucky Innovation Network at EnterpriseCorp., the entrepreneurial arm of Greater Louisville Inc and this year’s Vogt Program Director. “As the quality and needs of the companies change, we are striving to offer the best resources and connections to capital to our growing startup eco-system. The quality of participants shows the innovation economy in the region is really on the rise.”
The 4 runners-up included:
Hue Innovations LLC – developed MiColor that creates all colors of nail and gel polishes, on demand, for nail salons reducing wasted polish, lowering toxicity levels and enhancing customer satisfaction, Mimi Pham and Dr. Balaji Venkatesh.
Stinger Equipment – created a dustless saw that safely cuts large blocks in a single pass eliminating fatigue, dangerous cuts and exposure to lung cancer caused from silica dust, Dustin McGehee.
Sunstrand – supplier and processor of value-added bio-material for domestic polymer composites using a proprietary line of bamboo and applied to hemp, kenaf, flax and jute offering increased potential to decrease weight and green-up plastics, Trey Riddle.
TriBlue Engineering Corporation – created a sour gas processing unit which allows natural gas processing plants to remove unwanted CO2 and H2S from their lines, Hunter Gerlach and Joseph Alexander.
The Vogt Awards are made possible by the Community Foundation’s Vogt Invention and Innovation Fund. 2015 marked the 16th year of the program and during that time, nearly $2.5 million has been awarded to 50 companies. The program is administered by GLI’s EnterpriseCorp, the entrepreneurial arm of Greater Louisville Inc. focused on assistance for entrepreneurs.
The late Henry V. Heuser Sr., a native Louisvillian and founder of the Henry Vogt Machine Company, created a $5 million endowment at the Community Foundation to support local entrepreneurship shortly before his death in 1999. Whenever Henry had an idea about how to make something better, quicker, or easier, all he had to do was walk out to the shop floor to assess its viability and commercial potential. His legacy is the establishment of an award that allows engineers and entrepreneurs access the same kinds of resources.