June 22, 2024

CloudsBigData

Epicurean Science & Tech

Drexel and Science Heart Pick out Four Startups for Raynier Seed Fund Help in 2023

3 min read
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Raynier seed fund for minority entrepreneurs&#13
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Naturaz, creator of a 100% vegan, non-GMO haircare merchandise line, is one particular of four providers chosen for assistance by the Raynier Seed Fund for Minority Founders this yr.&#13

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The University Metropolis Science Heart and Drexel University have picked four regional minority-owned startups for assist by their Raynier Seed Fund for Underrepresented Founders method. The four startups, which are the second cohort picked for funding considering the fact that the fund’s institution in 2021, will each individual receive a $25,000 investment and mentorship from Raynier Seed Fund neighborhood companions.

The 4 businesses picked for the Seed Fund are:

  • VasoWatch is a health treatment business creating a non-invasive wearable gadget to strengthen postpartum hemorrhage chance prediction. Postpartum hemorrhage possibility is a substantial factor in soaring maternal mortality charge and overall health inequity in the United States.
  • Concealed Gems is a beverage enterprise that is developing a far more sustainable meals program by getting innovative approaches to use the elements of food items frequently thrown away. A person example is a beverage Hidden Gems has made, referred to as Expose, which is built from upcycled avocado seeds. Near to 3 billion lbs of avocados have been consumed in the United States in 2022, so these seeds are commonly accessible and usually discarded.
  • Naturaz is the creator of the Dampness Burst Method, a lineup of 100% vegan, non-GMO conditioning shampoo, rehydrating mist and de-tangler, and hair moisturizer made with consciously and sustainably sourced ingredients.
  • SnapRefund is a economical technological know-how corporation that simplifies and expedites the assert payment approach for the insurance policy sector.

“The Raynier Seed Fund’s mission is to improve access to capital for underrepresented startup founders in the Larger Philadelphia location and we are exceptionally enthusiastic to operate with these four startups and their founders in this cohort,” mentioned Shintaro Kaido, vice provost for Innovation and government director of Drexel Applied Innovation at Drexel.

“An expense in underrepresented founders is not just an expenditure in business but an expense in the inclusive advancement of Philadelphia,” claimed Science Heart President and CEO Tiffany Wilson. “These 4 founders represent some of the most promising startups in our ecosystem and we’re eager to help Drexel’s efforts to scale this critical source of cash in the location.”

The Raynier Seed Fund was founded in 2021 as a joint venture among Drexel and the Science Center, supported by a present from the Raynier Institute and Basis, to boost entry to startup funds for underrepresented founders in the Better Philadelphia region. The method invests $25,000 for each business in up to four startup companies every year. A committee of community partners picked six finalist startups from an applicant pool of 36 this calendar year. The remaining six live-pitched their startups to the judging panel and 4 have been picked to receive investments. Members of the cohort will also receive mentorship from the local community associates.

Purposes for the 3rd cohort of the Raynier Seed Fund will be recognized later on this summertime. For additional info about the system and to signal up for our mailing listing, please pay a visit to: https://raynier-seedfund-phl.com/

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