Tissue Analytics wins $50,000 at Beta City
September 30, 2016
Tissue Analytics, a startup company led by Johns Hopkins Center for Bioengineering Innovation and Design graduates Kevin Keenahan and Josh Budman, took the top prize of $50,000 at the Beta City pitch competition in September. The company is developing a mobile application to help doctors and nurses measure and track wound healing, a process that is typically done using an old-fashioned ruler and visual judgment.
Chronic wounds such as diabetic ulcers and bedsores can cost millions of dollars to treat, partly due to the inexact method for tracking progress. With this app, health care providers can photograph a wound, record notes about the patient’s progress, and share this information with others.
During the competition, entrepreneurs presented their business plans and answered a series of questions from the panel of judges. Pitches were evaluated on market potential, financial strength, and the team’s leadership.
With this $50,000 from TEDCO, a state agency that invests in companies, Tissue Analytics plans to complete a Series A equity round of funding. Keenahan and Budman hope to accomplish this by the end of 2017.
The startup has already raised $2.8 million to date.
The competition was part of Beta City, a startup showcase now in its second year, sponsored by Sagamore Ventures and technology incubator Betamore.