I attended Alchemist accelerators’ class 17 demo day. If you don’t know Alchemist, it is an accelerator program specifically for enterprise startups. Alchemist has so far graduated over 80 startups who have raised follow on investment rounds from well known VC firms.
Overall, 24 startups presented in this demo day. While all presentations were high quality and all teams were highly technical, I have filtered these companies and selected the top 5 startups as an investment opportunity.
What: They are targeting the sales departments of medical device companies. Currently, medical device sales reps do not have much information about the hospitals and physicians they are targeting to sell devices and try to talk to everyone. docCheer wants to help these sales reps be able to have more information about their targets, and help them better target them and better influence the sales process. They will start with cardiac medical device companies.
Founders: Founded by two engineers each of which have more than 10 years of experience in medical device companies like MedTronics and St. Jude (now Abbott).
Why Invest: Large market ($15Bn), specific target market, untapped market, great team from this field. Traction (5 pilot projects, 1 paid pilot)
What: Healthcare providers need to get pre-authorization from insurance companies for medical operations and treatments which is a manual process and takes over 20 hours per week per physician. Glidian streamlines this communication and automates the preauthorizations.
Founders: ex-entrepreneurs with exit, Johns Hopkins PhDs.
Why Invest: The administrative paperwork in healthcare accounts for 30%+ of the healthcare costs in the U.S. The preauthorization is a large part of this admin work. Specific and large growing market.
3) Nuntio Labs
What: A.I. to help content creators improve the selection and choice of their words down to the sentence level. Rather than A/B testing your content (which happens after publication), this product suggests you better alternatives for words, grammar, and sentences before publishing. While this idea is not new, Nuntio Labs claims higher accuracy and down to all the word and sentences in the content.
Founders: Two A.I engineers with backgrounds in Google, Reddit, etc.
Why Invest: This is the dream of CMOs, if a company can actually improve engagement and increase virality, the business model is straight forward .
4) Deep Science AI
What: Active threat detection in retail spaces and public places using AI+humans in the loop. Currently there are many surveillance cameras installed in public spaces and retail locations, but it is either not supervised or being supervised by humans.
Founders: PhDs, DARPA, Columbia
Why Invest: They have great traction (5 pilot projects with large retailers) and it is a real problem with a large market.
5) Cognito Networks
What: Low-cost commercial building automation for lighting, HVAC, etc. Other companies like Honeywell, Siemens, Johnson Controls, etc. need the whole solution (software and hardware) to be theirs. Cognito Networks works interoperably with various devices and has packages of policies.
Founders: Professionals with 20+ years of experience each in companies like Juniper, Cisco, HP, Intel, etc.
Why Invest: $100Bn+ market. Professional senior team.
While these are the top 5 startups I think VCs should pay attention to, here is a list of other companies that presented:
- Ceqoo — Make every SDR successful
- TERBINE — Commercial Exchange for IoT Data
- Atalaya — Productionize Machine Learning for Cheaper
- Back4App — Backend Platform for SaaS Applications
- Carta Healthcare — Analytics Engine for Clinical Effectiveness
- Quantom Insights — Analysis of Complex Big Data
- SafeSkies — Onboard Failsafe System for Commercial Drones
- Convey Software — Social Media Analysis to Replace Political Polls
- SoundRex — Wireless Transmission of High Fidelity Audio
- NFWare — Network Virtualization Software
- Netifi — Enterprise Microservice Platform
- Arrivy — Powering Last Mile for Home Service Businesses
- Ozonetel — Intelligence Driven Contact Center As a Service
- Hexa — Replacing Sales Department Reps with AI
- Zenith Aerospace — Earth Monitoring by Solar Unmanned Aircraft
- iTOi — SaaS for Making Engaging Videos Generated by Small Businesses
- Postverta — Generic Online Software for Cloud Apps Development
- Acuity.ai — Shoppable Videos
- Clear Genetics — AI based Genetics Consultant
I have personally met with founders of the top 5 above-mentioned companies and I would be glad to connect you to them if you are an investor.