Mind to Market funds first startups
Program plans to support 10 additional companiesNovember 8th, 2018
Spokane-based Mind to Market LLC, an idea-stage accelerator and investment fund created to support startup companies, says it has provided its first $200,000 in funding to help grow five Inland Northwest startups.
The five startups receiving funding are WildRide, Medcurity, Perpetua, Vivihue, and Share.Farm.
WildRide is a mobile app that connects users to eating and drinking establishments in an adventurous way. Founded by three Gonzaga University students during their senior year, the startup received $50,000 in seed funding from Mind to Market after taking second place in the 2018 Northwest Entrepreneur Competition and won two months of free rent at StartUp Spokane’s coworking space.
Medcurity is a health care IT company with a platform that streamlines HIPAA compliance audits for U.S. health care organizations that are challenged by significant administrative burdens. Mind to Market provided Medcurity with $50,000 in funding this year.
Perpetua developed and manufactures a product called FlexFans, a novel fan designed to move air in harsh hot environments where traditional fans cannot compete in the global air-cooling market. Perpetua received $50,000 in funding from Mind to Market this year.
Vivihue is a facial media platform that enables users to edit their faces in photos to include a variety of preexisting and “roll your own” templates and special effects. The system uses the phone’s camera to place attractive advertising on or around the user’s face, triggering an emotional response. Vivihue was provided with $30,000 in funding from Mind to Market this year.
Share.Farm is a mobile app that gives users access to hyperlocal producers through a proximity-based mobile app that enables consumers to purchase local produce. Mind to Market provided Share.Farm with $20,000 in funding this year.
According to a release issued earlier this week, Mind to Market plans to support up to 15 local companies during this initial 18-month pilot phase.
As the Journal previously reported, the Mind to Market program was designed to help generate investments in early-stage startup concepts that show a strong chance of being successful in a relatively short period of time.
Mind to Market was launched in May 2018 with $825,000 in funding from local private investors, along with the resources of two leading entrepreneurial programs: the University of Washington’s CoMotion and StartUp Spokane.
Through M2M, investments in new startups are made on a rolling basis, and entrepreneurs looking for pre-seed funding are able to make their pitches after completing an intensive two-week rapid workshop with an assigned entrepreneur in residence.