Elevate Ventures Invests $320,000 After Statewide Pitch Competition

INDIANAPOLIS (Sept. 22, 2021) – Elevate Ventures today announced five winners of the second annual Elevate Nexus Statewide Pitch Competition. Adipo Therapeutics, Atlas Solutions, Menstrual Mates, Nearwave Corp., and Sleep Easy Technology received a total of $320,000 in pre-seed and seed funding.

“It was an honor to be a judge at this year’s competition. I was thoroughly impressed with the finalists and their companies,” said Barbie Wentworth, president and CEO of Miller Brooks and Elevate Ventures’ board member. “It truly is entrepreneurship at its best and exemplifies why it is so important to support these endeavors in Indiana.”

The five were chosen from 10 finalist startups that were winnowed from 55 eligible companies. Three of the five received pre-seed funding and the other two, seed funding:

Pre-Seed ($40,000 investment)

• Menstrual Mates, Bloomington: An inclusive period care company delivering the best menstrual cup for beginners.
• NearWave Corp., South Bend: A medical device company changing the way breast cancer imaging is done.
• Sleep Easy Technology, South Bend: A medical device startup developing a novel oxygen pillow for oxygen therapy.

Seed ($100,000 investment)

• Adipo Therapeutics, Indianapolis: A biotech startup developing a breakthrough technology platform that converts energy storing white fat into energy burning brown fat as a potential treatment for type 2 diabetes.
• Atlas Solutions, Bloomington: A grant management platform supporting non-profit organizations.

“We are thrilled for Adipo Therapeutics to be recognized as an Elevate Statewide Nexus winner,” said Adipo CEO Karen Wurster. “Elevate has been a strong source of support for Adipo Therapeutics as we have grown our business and we look forward to our continued partnership.”

Elevate Nexus, launched in 2019, is supported through funding from the U.S. Economic Development Administration and the 21st Century Research and Technology Fund.

To stay up to date on future competitions, deadline reminders and program updates, visit www.elevatenexus.com.