New England Innovation Center, LLC (NEIC) is a Delaware series limited liability company formed to advance a new business accelerator model focused on identifying or creating and assisting sustainable, high-growth technology companies in New Hampshire and throughout New England.
About the Center
A team of respected New England technology entrepreneurs, led by Mark Galvin, have launched a new startup business accelerator model - the New England Innovation Center. The Center’s mission is to create and/or drive the equity value of a highly competitive selection of early stage companies from throughout New England. Selected companies are generally expected to move into the NEIC facility and receive a combination of business resources and “hands-on involvement” by the Center’s seasoned startup executive staff.
Between May 1, 2013 and April 30, 2018, the NEIC expects to select, from a highly competitive group, approximately 15 seed stage technology companies and seek to “graduate” them normally within 24 months of entry with the intention that they can stay on their feet, will remain local, grow rapidly and eventually provide liquidity to the Center. Each selected company enters into separate agreements with the NEIC pursuant to which that company grants some "founder" equity to the NEIC for the services and facilities provided to it by the Center.
Companies who agree to move into the Center are eligible to use the seasoned NEIC startup staff to complete key assignments, leveraging the staff’s expertise in go-to-market strategy, market analysis, marketing communications, sales, channels, operations, finance and human resources at no additional cost, thereby seeking to limit burn rates. In addition, these companies share a high-energy environment and business resources such as office space, meeting areas, communications’ systems and operations management.
The 3,500 square foot facility, located at 75 Congress Street downtown in Portsmouth, New Hampshire is set up in an open collaborative environment with individual desks, lab space, break room, and conference areas. The facility can be the home to as many as six early stage companies at a time.
Unified Office Inc. provides a transformative; communications managed service leveraging a premised-based pure IP unified communications platform targeted at Small and Medium Business (SMB). The Total Connect NowTM managed service, provides SMBs with a competitive advantage through an open standards based VoIP on-premise communications platform that delivers an “Any Device, Any Place” architecture, rapid “Bring your Own Device (mobility)” and applications integration, fast feature development, high call quality, excellent security, and 24X7 monitoring. Unified Office’s “One Call” support eliminates finger pointing, plus its subscription based recurring revenue model and highly differentiated managed service is highly appealing to channel partners, attracted to gaining profitable growth from the explosive SMB TDM/Digital to VoIP voice communications services migration.
The company was founded in early 2011 by technology entrepreneur, Ray Pasquale, and a cadre of seasoned telecom veterans. Unified Office targets the 2.3 million U.S. SMBs with 5 to 499 employees, with an estimated addressable market of $25+ billion. Early adopter SMB customers are excited about mobile device integration, high call quality, and excellent service diagnostics, while channel partners are excited about building a profitable customer portfolio, by using Unified Office’s highly differentiated recurring revenue managed voice service.
MyMedicalShopper enables true comparison shopping for medical procedures by shining a light on the secretive world of healthcare pricing. We can save small and midsize employers more than 33% on health insurance premiums while improving employee health benefits. Become an empowered consumer and never overpay for healthcare again.
Our website and mobile apps make it possible for medical consumers to choose their care based on price, quality, and convenience. MyMedicalShopper is addressing a huge need in the market by integrating actual medical procedure cost data with real-time consumer insurance information in order to create an unparalleled, personalized tool. The driving vision is to reverse the trend of rising healthcare costs and to develop technology to interpret, create, and display the symmetric data needed to transform the healthcare industry into a fair market for consumers.
Our end users are leveraging the MyMedicalShopper platform to access extensive information on price and quality of more than 7,500 medical tests and procedures across virtually every medical care provider, and reduce their out-of-pocket healthcare spending by over 32% on average. In fact, as we educate a new generation of empowered healthcare consumers, we expect even greater savings, as our analyses show the potential for saving more than 60% on total healthcare spending in NH.
In addition to the personal savings that each user can realize (even with the “freemium” version of our app), our business customers are purchasing our platform to take a proactive approach to reducing their health benefits costs. Businesses are benefiting from MyMedicalShopper in a number of important ways: providing the MMS app to their employees as a new benefit; reducing health insurance premiums as a direct result of reducing their total medical claims; and saving the time, money, and frustration associated with administering health savings accounts (HSAs), health reimbursement arrangements (HRAs), and flexible spending accounts (FSAs) through MyMedicalShopper’s robust employer dashboard.
MyMedicalShopper is empowering informed decision-making by providing instant access to our expansive data through our cutting-edge technology platform, which is accessible through our iOS and Android mobile apps, as well as our website.
Professor Glen Miller founded the Vera Roasting Company, Inc. in September 2015 with the mission to roast and sell healthier coffee. The company has patents filed for its proprietary method to bring all the “heart healthy” aspects of drinking a glass of red wine to every cup of coffee. CoffVeeTM is made from delicately roasted, 100% Arabica beans infused with resveratrol, the all-natural antioxidant found in the skin of red grapes. Vera’s delicious brew is the only coffee roasted for heart health.
Resveratrol is structurally related to flavonoid antioxidants which are abundant in “the healthiest foods,” such as onions, parsley, blueberries, grapefruit, garbanzo beans, almonds, cabbage, turnip greens, quinoa, sweet potatoes, etc. Most importantly, resveratrol is safe. People have been consuming red wines, and resveratrol, for thousands of years. Vera’s process of infusing resveratrol into coffee beans during the roasting process brings meaningful health benefits without affecting the taste, color, or aroma of its premium coffee.
Vera Roasting Company announced the launch of CoffVee in December 2015, and within two weeks had seen stories of its industry-changing innovation broadcast across media outlets all over the world, including The New York Times, Huffington Post, Fox News, The Boston Globe, WMUR, WBZ, Brit.co, Eater.com, Spoon, The Seattle Times, The Sacramento Bee, The Washington Post, and hundreds of others. Vera had received orders to ship to consumers in all 50 states within the first week, and in the first month the company had already built relationships to supply CoffVee to a number of commercial customers, including major professional sports teams.
In May 2010, the FDA issued new guidelines for the approval of intravenous infusion pumps... and for good reason. The pumping mechanism in use in conventional pumps is decades old, in its design, and may not reliably detect conditions in which the patient is not getting the prescribed dosage. Product recalls and reports of performance failures are commonplace.
Leveraged Developments targeted their design directly at the Safety Assurance Case analyses now required by the FDA and has developed Breeze™, a simple fluid flow control module that can be incorporated within finished medical products, such as intravenous infusion pumps, enteral feeding devices, and patient monitoring systems. These components can be readily incorporated into an overall safe and effective pump design. It operates using gentle pneumatics… just a breeze of air does all of the work.
The primary goals of the company’s design include mitigation of the 58 hazards identified by the FDA for conventional IV pumps, reduce workflow interruptions caused by nuisance alarms, elimination of common errors associated with configuring "secondary" infusions such as antibiotics, creation of a pump surface that is easy to disinfect and to reduce costs to acquire and support IV pumps.
Breeze is sold on an Original Equipment Manufacturing (OEM) basis to companies that market medical devices. Leveraged Developments will not make or sell the finished medical devices and is not required to obtain ay FDA approvals, although their customers will need to file their own regulatory submissions for products that use the Breeze platform. The company provides test data, reliability data, FMEA results, and other documentation to facilitate the approval process.
Companies already in the infusion pump or enteral feeder market may benefit by replacing their complex electromechanical pumping mechanisms with the simplicity of Breeze, taking advantage of its improved reliability.
Companies marketing patient monitors may benefit by using a reliable and simple platform for infusions and feeding to create closed loop systems for maintaining glucose, blood pressure, analgesic levels, hydration, or nutrition.
Jeffrey Carlisle who was named “Disruptivator to Watch” in 2012 founded the company in 2011. Mr. Carlisle has a rich history of innovation in medical products throughout a career spanning over 35 years including management positions at HP Medical Products, DEKA Research and Fluidsense.
The Center has an arrangement such that it will receive royalty payments against shipped products using Leveraged Development’s Breeze technology until we have received 10x our invested services valued originally at fair market value (FMV).
MEDUS Health was founded by Richard Furber in 2015, driven by his desire to create a revolutionary new kind of health plan, with a primary focus on Insuring Wellness.
Our current health insurance model was born in the 1970s. While we have seen some changes over the past 40 years, the system's original architects could have never imagined the world we live in today. And that's why our healthcare system is so outdated, complicated, inefficient, and expensive. At MEDUS Health, we've invented a totally different health plan for a totally different world.
Patient-centered care supports active involvement of patients and their families in decision-making about individual options for treatment. We’re focused on providing care that is respectful of and responsive to individual patient preferences, needs, and values, and ensuring that patient values guide all clinical decisions. Patient-centered care is also one of the overreaching goals of health advocacy. The 5 constituent dimensions of patient engagement include: communication, provider effectiveness, alignment of objective, information & encouragement, and patient incentive.
Our mission is to redefine health as a long-term asset. MEDUS will lead a revolution by providing early intervention and care coordination for members, helping them to make behavioral and lifestyle decisions to achieve optimal health. Targeting both healthy individuals and those who are at risk of developing a chronic condition, MEDUS’s programs help members achieve healthier lifestyle behaviors through a wellness portal, biometric testing, and lifestyle coaching.
Bit Fry Game Studios
Bit Fry Game Studios is a video game development company that is creating a new category of AAA-quality sports titles, with original and memorable characters, that run across both mobile and console devices. The company has a unique vision, which includes a singular on-line hub that connects sports gamers across device platforms and innovative IP in the area of sports A.I. and controller input that radically improves the mobile gaming experience. The company is developing titles that are approachable for both male and female casual gamers while providing competitive depth that scales with the skill and interest of even the hard-core players.
The company was founded in the Spring of 2013 by Ben Freidlin, a former MSFT software engineer and inventor of innovative advancements in baseball A.I. and input controls for sports titles on mobile and next-gen console devices. He is a published author on advanced 3D gaming technology as well as a veteran engineer and architect of high performance trading systems for Wall Street banks and hedge funds. Ben has assembled a world class team of fourteen seasoned gaming and entertainment professionals and has already acquired developer and self-publishing licenses from Nintendo (Wii-U, 3DS), Sony (PlayStation 4/PlayStation Vita), and Microsoft (XBox One) as well as being approved for development and publishing on Apple AppStore, Google Play, and the Windows App Market.
The company is addressing an underserved worldwide market for sports video games of just under $10 billion per year.
SimpleCharters is the world's first online marketplace for finding and booking on demand private aircraft for charter. SimpleCharters.com offers access to an extensive selection of jet and turboprop aircraft that provide travelers with the best in comfort and convenience. The company also makes it easy for jet operators and fleet managers to advertise their aircraft, while providing direct feature and benefit transparency for end users. Before SimpleCharters existed, users of private charter aircraft lacked an efficient means to locate, compare and select suitable aircraft. When fully launched, SimpleCharters will make finding and booking aircraft charters easier than booking commercial airline seats.
The company was founded in early 2012 by technology entrepreneur, Charles Denault, and addresses an estimated U.S. addressable market of over $500 million in booking commissions. Early adopters have provided feedback that the company solves substantial issues for both operators and consumers of on-demand private jets. Many have described SinpleCharters as “the Orbitz of private jet travel”.
The NE-IC Team
Mark has played key roles in eight "Route 128” startups. Six of these companies, he founded and operated as CEO. They have run the gamut from fourth generation PBX, OEM ISDN subsystems, dial access routers, high density HFC/DOCSIS VOIP network switching equipment, and SMB IP-PBX with national phone services. (ZTEL, LAN-TEL, CCD, PRI, RAScom, Cedar Point Communications, Whaleback Systems). In 2010, he assembled a team and created the New Hampshire Innovation Commercialization Center, a technology accelerator in partnership with the University of New Hampshire. Mr. Galvin has raised roughly $125Min private equity and returned over $378M for a cash on cash and IRR of approximately 3X and 44% respectively. Mark serves on the boards of Unified Office, Inc. and Regaalo, Inc., the non-profit boards of NH Stay, Work, Play and Portsmouth Chamber of Commerce and the Advisory Boards of Great Bay Community College and the NH High Tech Council.
Matt acts as a software development resource creating and managing complex web-based e-commerce sites and back ends. When he is not actively designing, writing, or testing code for his own assignments, he is available to other Resident Companies to collaborate on the latest on-line and software strategies. Matt holds a BS and MS in Computer Science from the University of New Hampshire.
Serving as Financial Director for the NEIC and its Resident Companies, Peter is an innovative financial executive who has served in companies ranging in size from start-ups to Fortune 50. He has extensive experience in debt financings, equity raising, mergers and acquisitions, and financial management. Since 2005, Peter has provided creative financing advisory services to small businesses in New England. From 1988 to 2005, he owned and operated a number of successful business-to-consumer companies, consistently enhancing equity value. From 1979 to 1988, he served as Chief Financial Officer of Signal Capital Corporation, a unit of Allied-Signal Inc. (now known as Honeywell). While working at Price Waterhouse & Co from 1975 until 1979, Peter was a Certified Public Accountant. Peter earned his MBA degree in finance and accounting from New York University and he graduated cum laude from Bowdoin College. Non-profit work is important to Peter, as he has served on Boards for the Richie McFarland Children’s Center, the Southeast Land Trust, and Rye Congregational Church.
Christopher serves as a resource for developing and executing marketing plans and business strategies for Resident Companies. He takes creative and analytical approaches to problem-solving, with a successful track record through his experience as an executive at The Eastern Lumber Company, as well as a number of other business consulting relationships. Christopher graduated Summa Cum Laude from the University of New Hampshire with BS degrees in business and mathematics, plus an MEd in mathematics education.
Business Growth Director
An expert in rethinking business strategies and the creation of new markets, Kanti’s mission as Director of Business Growth at the NEIC is to build sales for its Resident Companies. Kanti brings to the NEIC leadership skills with cross-functional fluency - a potent blend of business, marketing, and sales savvy combined with a deep technology grasp across multiple industries. As CEO, President, and VP of Worldwide Sales at seven startups, Kanti has grown sales worldwide by accelerating innovation, harvesting the value chain across the ecosystem, and delivering transformative value to clients by introducing leading-edge products and services. Kanti's previous roles include CEO of ZWCAD USA (e-commerce software sales), COO of Blackstone Technology (cloud and SaaS), Principal at Boston Communications (Mgmt Consulting), President of Viewlogic Europe, VP of Worldwide Sales and a founder at Viewlogic Systems, IPO 1991 (CAE software). Kanti holds a Master’s degree in Electrical Engineering from North Dakota State University and a Bachelor’s degree in Electrical Engineering from University of Bombay.
Senior Business Analyst
Evan is a recent finance graduate of Dalhousie University in Halifax, Nova Scotia. Evan has completed his Chartered Financial Analyst (CFA) exams and brings advanced financial and analytical skills to NEIC.