When his grandma took a devastating fall using a walker, Timothy Visos-Ely channeled his love and concern into a brilliant idea: digitally enhanced walkers that would help seniors correct user errors before they result in dangerous mishaps.
On April 3, the 22-year-old Kansas native and his CU Boulder听teammates celebrated, not only the fact that the idea might just lead to better health outcomes for seniors, but that they won鈥檛 have to frantically job hunt after graduation.
The team won the 2019 New Venture Challenge (NVC) and walked out of the Boulder Theater with $100,000 toward their invention and the opportunity to hobnob with venture capitalists, business leaders and more. Stride Tech was one of three听undergraduate teams in the NVC finals, CU Boulder鈥檚 premier entrepreneurial startup competition, after emerging as the winner of the hardware track.
鈥淚鈥檓 in shock,鈥� said Stride Tech CEO and Engineering Plus senior Visos-Ely, who thought his team was the underdog. 鈥淚鈥檓 really, really excited and extremely happy. I'm ready to get to work. We have $100,000. I don鈥檛 need to look for a job when I graduate anymore. This is my job. We鈥檙e going to make this work.鈥�
The Stride Tech team also includes fellow Engineering Plus students Max Watrous and Humsini Acharya, and mechanical engineering students Tom Saunders and Andrew Plum. The team was formed as part of the 鈥楨ngineering for Social Innovation鈥� section of mechanical engineering senior design.听
听It鈥檚 a testament to the strong entrepreneurial spirit that is cultivated and thrives here in Boulder.鈥� 鈥揊irst-time attendee
Other winning NVC11 teams included:
- 听(R&D Track/$45,000) A precision-engineered medical device designed to simplify care for a child's听gastrostomy听button听and reduce gastrostomy-related complications.
- TissueForm听(R&D Track/$12,500) A simple, low cost and long-lasting dermal filler technology that helps patients suffering from tissue disease, damage or aging. (Also Women鈥檚 Entrepreneurship Prize winner)
- Bright Wearables听(Creative Industries Track/$10,000) Microchip-embedded听fashion accessories that allow contact information to be passed to smartphones with just a tap of the phone.
- Nimb.ly听(IT Track/$7,500) A software platform that helps catering companies keep their events efficiently staffed.
- KartWheel听(General Track/$5,000) A specialized transportation company established to transport students with disabilities and injuries听from their homes to specific buildings on campus.
- Gaia Glam (People鈥檚 Choice/$1,000) An all-natural glitter cosmetics company that provides an environmentally-friendly alternative to plastic glitter.
- (Social Impact Prize winner) A locally sourced, locally powered and community-driven irrigation hardware to help beat drought in Africa.
This year鈥檚 event had its usual sense of fun (and beer) at the art deco downtown theater.
The 5-minute pitch
As in years past, Brad Bernthal, associate professor in the Law School and director of the ,听served as emcee.听Bernthal was only slightly more subdued than last year as he wore a dark suit and shimmering black dress shirt. By the evening鈥檚 end, he was sporting Gaia Glam natural glitter on his face. (Because everyone deserves to sparkle responsibly.)
The format was the same: A four-judge panel of leaders in VC and startup investments listened to short pitches, and asked questions for five minutes. Then, the clock ticked for 20 unnerving minutes as the judges deliberated.
Like last year, the house was full鈥攁 detail that stood out to Pascal Krotee, an investment associate with Los Angeles-based Kairos Ventures. Her firm specializes in working with research universities, beginning with Caltech. This was her first time at the NVC.
鈥淎ll the pitches were extremely polished, and delivered the information that investors like to see in a five-minute pitch,鈥� Krotee said. 鈥淭hey delivered products that address pain points. Also, the showing from the community: 700 people. It鈥檚 a testament to the strong entrepreneurial spirit that is cultivated and thrives here in Boulder.鈥�
The enthusiastic attendees, which included 350 community members, fuel the continued growth and success of the NVC and represented a record-breaking attendance.
NVC impact
Over 11 years, the NVC has provided funding to 60 ventures. This year, 120 CU Boulder teams participated compared to 515 over the prior decade. Some 75 ventures that have come through the NVC are still active and went on to attract $27.5 million in additional funding. Notable NVC alumni include: Mallinda, Stateless, HiveTech, and Specdrums.
The NVC Finals is the culmination of a range of entrepreneurial activities on campus. The Stride Tech team, for instance, participated in campus workshops on everything from marketing to manufacturing. At the Idea Forge and , they used 3D printing and electronics shops. They tapped the Leeds School of Business research desk and connections through entrepreneurship clubs to develop a business plan and determine market size.
For Terri Fiez, Vice Chancellor for Research and Innovation, the NVC just keeps getting better and is a signature event that captures a campus well-positioned in a community bursting with entrepreneurial energy.
鈥淚t was just amazing,鈥� Fiez said. 鈥淭he fact that we had 350 community members here to support CU Boulder - and all of their mentorship - it鈥檚 just a multiplier for everything we鈥檙e doing.鈥�
There鈥檚 another cause for celebration for Visos-Ely: his grandma.
The Stride Tech technology, called听Smart Step, is听a universally attachable walker accessory听that detects and corrects dangerous walker use habits and monitors walking to generate actionable insights for a physician.听The software displays the user鈥檚 walking health on a live dashboard and analyzes abnormal patterns so that a physician can better treat, diagnose and monitor their patients.
鈥淚 can鈥檛 wait to give her own Smart Step,鈥� Visos-Ely said. 鈥淪he鈥檚 going to love it.鈥�
