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July 13, 2017

Elevate Ventures portfolio company is second consecutive woman-led winner

Inscope Medical, an Elevate Ventures portfolio company, won the Venture Club of Indiana’s Innovation Showcase Pitch Competition at the inX3 conference on June 14. As the winner, Inscope received an award package totaling $100,000.

Inscope at Innovation ShowcaseLed by CEO Maggie Galloway, Inscope Medical is the second Elevate Ventures-backed company to win the Innovation Showcase Pitch Competition. The 2016 winner was myCOI, a cloud-based Certificate of Insurance platform.

An unusual twist, both companies are led by women. A substantial amount of gender inequality exists in entrepreneurial activity nationwide. Galloway and myCOI CEO Kristen Nunery are finding success in Indiana and have plans for future growth.

“It takes talent, expertise, capital and perseverance for startups to become market leaders and significant economic growth engines for communities,” said Elevate Ventures CEO Chris LaMothe. “We are excited with being an investor in these two excellent women-owned businesses.”

Inscope Medical’s laryngoscopes are undergoing a clinical study in California, with plans for the first devices to be commercially available this fall and video laryngoscopes to be available in 2018. This growth includes an expansion plan to hire engineers and sales representatives.

Inscope Announced as Innovation Showcase Winner“Being selected as the winner of this year’s pitch competition is a wonderful way to be welcomed to Indiana,” Galloway said. “I’m excited for the opportunity to grow my business here and am grateful for the support I’ve received from Elevate Ventures and the Indiana Economic Development Corporation.”

In May 2017, myCOI announced plans to expand during a ribbon cutting ceremony for its new office in downtown Indianapolis. Nunery said the company’s goal is to create up to 185 jobs by 2021.

Of the 25 pitch finalists at the Innovation Showcase, seven were from Elevate Ventures-affiliated companies including Akanocure Pharmaceuticals, brightlamp, Hydro GrowMimir, Tri-D Dynamics and The Bee Corp.

 

About Inscope Medical Solutions

Inscope MedicalInscope Medical is a medical device company focused on improving the speed, safety and effectiveness of airway intubation through our novel laryngoscopes with integrated and controllable suction. Inscope’s current device portfolio consists of a disposable direct laryngoscope with suction and a disposable, wireless video laryngoscope with suction. For more information, visit inscopemedical.com.
 

About MyCOI

myCOImyCOI exists for one reason—to help you handle the everyday tasks of managing certificates of insurance and protecting your company against underinsured claims, costly litigation and failed audits. Our clients are hard-working individuals and businesses that are exposed to risk due to their industry’s ever-changing rules and regulations. Whether you’re an owner or risk manager worrying about your business’s compliance, or an office manager dreading the stack of COIs waiting to be reviewed and entered into your system, myCOI has the technology and the expertise to make your job easier. For more information, visit mycoitracking.com.

About Elevate Ventures
Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long term. As a not-for-profit organization, Elevate Ventures offers unbiased, in-depth perspective and recommendations. To learn more about Elevate Ventures, its team and its funds under management, visit elevateventures.com.