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 implements a Software-as-a-Service (SaaS) personalized health care shopping platform that enables employers to drive down the cost of their health benefit packages, and allows individuals to preserve their personal capital, by providing unbiased, real-time pricing and quality information as they are arranging for outpatient medical services.
We transform a massive quantity of complex data into transparent and useful information. This data is obtained from insurance companies, governmental agencies, health care providers, quality monitoring organizations, as well as crowdsourced and internal data generated through your use of our application. We wrap all of this with responsive web (RWD) and targeted mobile applications for user-friendly presentation on computers, tablets and smartphone devices, (and soon, wearable technology) empowering individuals, insured and uninsured, with price, quality, and convenience information needed to make informed health care purchase decisions.
As consumers of medical procedures find themselves faced with increasing deductibles and copays, and more of the first dollar costs of healthcare is coming from your own wallet, you will find yourself interested in shopping for medical services.
Unfortunately, medical insurance companies and large hospital and physician’s networks obscure costs and payments, making it nearly impossible for people to act as responsible consumers. Therefore, billions of dollars are wasted through overpayments and inefficiencies in medical practices.
A 2013 Institute of Medicine report estimates that approximately 30% of U.S. health care spending in 2009 was wasted due to inflated prices, provision of unnecessary services, and inefficient delivery of care. U.S. health care spending is forecasted to total approximately $3.1 trillion in 2014.
Through Innovation, your actions as a responsible consumer, and the tools we will work diligently to put in your hands, together we can reduce healthcare costs in the U.S. by over $1,000,000,000,000.00 (one trillion dollars) per year! This will make healthcare more accessible for all and will creating an improved environment for our entrepreneurs to drive the country’s economic growth. This, in time, will create the good paying jobs needed for all who wish to have one!
Please help us make the country a better place for everyone. Please be a conscientious consumer and shop carefully.
- Mark and Matt
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).
Regaalo is an online marketplace that keeps college families connected by providing gifts, essential products, and relevant information for college students. The company simplifies the challenges of college student life through a unique and easy-to-use online resource center.
Regaalo targets the 5.5M non-commuter college students who attend 4-year colleges and their parents. This group spends over $100B annually for college gifts and essential products with up to 90% of this money coming directly from the parents.
Regaalo is positioned to be the expert on college family and student needs through highly focused internal reviews along with social input from the online college student and parent communities. The company is web-centric in its execution model for capturing students, parents and merchants allowing the company to expand its market coverage to over 2700 colleges across the country. The site can be used to acquire a wide range of targeted items creating opportunities for frequent purchases along with incremental income streams from sponsorships and advertising offers. Scaling the business through partnerships with fulfillment companies such as Amazon allows the Regaalo team to be highly focused on driving growth while minimizing operational overhead.
Regaalo was founded in February 2011 by Matt Robinson, who is the company’s Vice President of Engineering, and hold both Bachelors and Masters degrees in Computer Science, along with the help of several University of New Hampshire students and professors.
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.