May 16, 2019
Southern Indiana company seeks to redesign mental healthcare experience
NEW ALBANY, IND. — Elevate Ventures, ranked third most active community impact funder by the State Science and Technology Institute, has awarded its first Community Ideation Fund investment in Southern Indiana to Total MINDCARE in New Albany. Total MINDCARE is an online mental health company designed to provide broad access to better mental healthcare. The need is critical, as individuals presenting mental health symptoms has dramatically increased in recent years, up 70 percent in the last decade in young adults alone.
Launched in 2018, Elevate Ventures’ Community Ideation Fund (CIF) enables ideation-stage high-potential companies in each of Elevate’s partnership regions to move closer to a specific, measurable technology or product development milestone with an investment between $5,000 and $20,000. Eligible applicants include Indiana-based companies with headquarters in communities under a partnership with Elevate Ventures, and who have no more than $50,000 in trailing revenue over the past 12-month period.
“This is the first Community Ideation Fund investment awarded in our partnership region of Southern Indiana. As the entrepreneurial ecosystem grows, and more promising startups take shape, Elevate will continue to support these founders and leaders,” Elevate Ventures CEO Chris LaMothe said.
Timothy Ramsey, Total MINDCARE’s founder and CEO, previously co-founded SureGene, a personalized medicine company, where he invented and commercialized tests that helped physicians select more effective psychiatric medications. During this decade-long quest to improve mental health outcomes, he observed challenges that prevented doctors from delivering optimal patient care. Coupled with his own experience with loved ones’ severe mental illness, he concluded that a complete redesign of the mental healthcare experience was required, leading to Total MINDCARE.
“Our purpose is to reduce the suffering of those with mental illness through a one-stop solution that combines AI, digital therapies, community support, personalized medicine and a coordinated human care team,” Ramsey says.
“The CIF investment by Elevate Ventures provides a tremendous boost to Total MINDCARE at a critical point in its growth. This investment enables us to overcome two key hurdles faced by all startups: initial customer acquisition and validation of concept from a respected investor.”
Under the CIF, each partnership region has access to up to $200,000 over the next three years through the state’s 21st Century Research and Technology Fund, which is overseen by the Indiana Economic Development Corporation and promotes economic growth and innovation-driven public-private partnerships in Indiana.