Nick is developing a smart asthma management patent pending technology. He currently is getting a Masters of Business Administration in Healthcare at the Fox School of Business and Management Temple University.
What we will discuss on today’s show:
Nick is developing a smart asthma management patent pending technology. He is currently getting a Masters of Business Administration in Healthcare at the Fox School of Business and Management Temple University.
We talk to Nick about his personal story, background and what he is doing to help people. He also tells us why he got into the business of asthma management.
Our in-depth interview also touched on sales and distribution channels and the strategy for building it out in the future and raising money, pivoting from the initial design, how to commercialization and various go to market strategies.
For Nick, it’s about solving problems not just coming up with a rockstar idea. As a child asthma impacted Nick sending him to the nurse’s office and to the hospital. He dealt with it and played sports actively. We also talked to him about targeting the end user and making key changes on the device from feedback. The first version was going to be a necklace piece of jewelry but he had to pivot and iteract quickly.
He first pitched the idea to solve the problem to help people find out and learn more about asthma at a Jefferson Hospital Health Hackathon sponsored by Blue Cross Blue Shield. He created a real rough prototype and pitched it to the judges.
With the original prototype he needed to pivot and made changes. His team consists of a biomedical engineer now an MD, neurologist at Jefferson Hospital and lead technologist. A software engineer from the hardware side.
It’s not a diagnostic test like sounds of your lungs for asthma management. Nick did online asthma surveys as well as in person. Determined that a necklace with an adhesive type of device was not going to work but a chest strap idea would work better as it was able to stay clean so the process of iteration and leverage and focusing on what the end user really wanted was key as they came up with rapid prototyping.
So how do they plan on patenting the technology and raise money?
It’s all about leveraging resources – the group first went to the Drexel Law Club who work with entrepreneurial early stage startups but they did not have an FDA focus on technologies. However, Temple University Institute of Entrepreneurial Innovation helped provide a local patent attorney.
Strados Labs won a business competition this past spring and received an in-kind gift for that patent attorney which was provided pro bono to help them with the provisional patent. It was sponsored by Be Your Own Boss Bowl competition.
In additional to working with intellectual law firm Ceaser Rivise Temple University provides Strados Labs with working space. They college creatively packages these resources together in one bucket so that startup entrepreneurs can leverage all the resources. The competition provides three tracks: undergrad, grad, faculty, social tracks.
Strados came in second only for Nick to lose to his professor.
Ellen Weber is the Director of the Temple University Institute for Entrepreneurial Innovation who work with other venture capital firms like Benjamin Franklin Technology Partners , Robinhood, Mid-Atlantic Ventures who work with startups
We discussed the prototype and patent as well as how the company will get the technology to their end users, distributing and selling the technology. They anticipate having the provisional patent filed by the end of this year. Once the provisional patent has been filed with their end claims which give them first file rights if someone else comes up with the concept the first to file has a better claim to the idea. Strados Labs will have 12 months to spend finalizing the software and hardware algorithms –
When dealing with a patent it’s important to note what a company can say and what they keep secret
It comes down to what is proprietary or internal v what they can mention to the public. We know the company is developing a wearable device but they keep the sound capture feature private.
Their goal is to provide extra value in this narrow niche. Focus on those end users to help them manage their asthma, provide advice and feedback from the device,
survey done signs symptoms of an asthma attack of wheezing – sometimes wheezing starts slowly in lungs and you try through your own will to identify those signs and alerting them it’s not a diagnostic but alert something is happening to them alert to phone and message to parent or someone else take inhaler stop exercises breath deeply its an alert monitor track and monitor on back end but focus now is on front end – how they are bringing in people to do research – test it – market service – white papers how asthma needs to be better managed and that 2/3 can be prevented by not medicines but just managing it better – market research targeting asthmatics online forum Reddit American asthma foundation aaii – healthcare, MBA take quick survey for feedback to validate get qualitative information on people’s condition some type of technology to better manage people’s disease work with asthma research in NY how environment effects and how such technology would help doing focus groups up in Harlem pre-testing phase using this technology get feedback early then use it for testing.
We asked about some of the challenging moments the company has faced as a new startup and Nick being a business leader – they are entering a high regulatory, high barrier, high capital intensive business and also managing individuals. Nick working his day job and doing this at night and on weekends also while he was in California during the summer while the doctor neurologist was back in the Philadelphia area. Nick had to find the time and make sure he was communicating effective and quickly needed to find the right people and manage the work stream and also maintain his current job.
What wanted to know what contributes to his success – he said a relationship with his co-founders the neurologist and although Nick is the face of Strados Labs his co-founder makes things smooth when running ideas past him or acting as a sounding board for being a devil’s advocate which balances the good with the bad. Its good to be positive but things are not always rosy so his co-founder is a good balance keeping him well grounded.
Insurance reimbursement of the device for asthma management.
The problem is that once a year people with asthma can be admitted to the ER with cost of $2500 and where it costs $20,000 a device for their solution $150 bucks can reduce risk to go to hospital and reduce those high-risk individuals by 60% less reduce asthma and reduce potential death or going to ER. The plan on having the insurance company reimburse through ins company and promoted by doctor hard time managing we will provide you pluma ware system reimbursed end users, not the person using it but doctors new business development force
Build a relationship with insurance area health technology comp who work with Medicaid and chronic diseases – use reminders to become more engaged with asthma management to leverage their device to partner with health systems improve health understand educate them innovation partnership spoke at hackathon non-hackathon sponsored by BCBS.
Advice for others he gives – to startup overwhelming most common mistakes students or preventing them from starting – coming up with a rockstar idea best idea and they stop if they think it’s not the best – for him ideas change so much focus on problem and improvement upon those issues or problems – he started with wanting to solve the problem now is developing the solution focus on problems v ideas –
Recurring themes resources – help – people here to help – at top-ranked entrepreneurial program Philadelphia meet ups network events talk to them about ideas – Philly startup leaders – new in CC – new tech meetup Philly – leverage through temple Univer entrepreneur network summer studio incubator reach out to those you know in entrepreneurship – intellectual property hardship creating things v creating apps people want to invest in electrons v atoms –
Fully functional is challenge for things apps that is coding but here you have to build it and test it so more difficult to get funding federal grant challenging to get through Kickstarter IndieGoGo developing things medical devices – if he knew about these resources 6 months ago – doesn’t want to fail but will now know them federal funds natural science foundation SBIR funding process dept of engineer institute of health all have funds for small business who want to start businesses
who will help him write the grants trying to leverage innovation partnership through the small business association dev a tech national science foundation and they like your idea resources pre-proposal key components of stuff and how to develop commercialization of it
Voucher stipend to write grant, someone, to help SBIR agency to send to –
Lightning round sponsored by audible.
A book Nick recommends – The Alchemist, written by Paulo Coelho de Souza – It’s about an individual on his journey to find a treasure. His entire motivation as a shepherd is to be rich but he goes on journey not where you get but how you get there he ends up the same – for him, it’s about the journey what he has learned and get to place he wants to go and help asthma
Three take-aways from show:
Don’t be afraid to ask questions even as a new entrepreneur just talk to people about your idea to many people get caught up it being secreative or having to much concern about signing NDA, your idea will get stronger if you talk more about it; Focus on who you are working with, some people want to work with their friends but be careful who you work with and who you bring onto your team they might have a certain skill set but focus on the person beyond just their skill set and make sure it’s aligned with your vision; Have fun it’s an exciting journey, it’s risky but just be smart.
To listenup to our last show with Steve Bazemore and get all the show notes about career advice, personal development head on over to mitchellchadrow.com/show030
Today’s show is sponsored by two awesome sponsors Snappa a resource at mitchellchadrow.com/snappa
No need for graphic designer experience no need for photoshop Snappa Provides Graphics for social media ads, blogs Snappa has Pre-made templates and all you do is add their hi-tech photos text graphics Guess what there is a feature that allows you to Resize your images is that cool or what As a Non-designer myself I now use snappa to make beautiful graphics Mitchellchadrow.com/snappa check it out you can sign up for free and they have other plans as well
The second is Mitchellchadrow.com our listeners are looking for those special resources to help startup a business, generate ideas for family and life or to or to help them gain employment until they startup So join other trusted friends of the Listenup Show, the Mitchell Chadrow Podcast and join my email list now at mitchellchadrow.com – and as a thank you I will send you an outline for the Startup entrepreneur and the ebook 30 Tools and Resources to Startup just for joining today it’s great whether you are using it for business family or life so grab it today – guess what Snappa is on that list
Strados Labs is incorporate his business an LLC in DE but operates in PA in an incubator space at temple
How to stay in contact and connect
He enjoys talking about being an entrepreneur.
Product looks like team and blog topics on healthcare and asthma management.
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Career Advice, Personal Development, Coaching, legacy planning, habits with Steve Bazemore on today’s show 030 where he tells us about his personal story, provides career advice, personal development coaching and tells us a wake-up call story.
It’s all about startups, entrepreneurs, business owners and those with careers who deep down inside really do want to startup
What we discuss on today’s show:
Steve talks to us about his personal story enjoying life, find your calling and his wake up to call in 2012.
He tells us about the process he developed as a how-to guide for individuals working on their own transformations. He calls it 36 Days to an Extraordinary Life.
The reoccurring themes that he experiences as a Coach and someone in a long term career that he summarizes for the benefit of other aspiring side hustle entrepreneurs, career transition-minded or those looking for help and resources to either startup and grow a business or get something going as you call your side hustle.
So what is personal development coaching
What he thinks are the most common mistakes other career minded or people trying to startup on the side interested in business make that delay or prevent their success?
All about career advice.
The essential understandings entrepreneurs/students need to have the proper mindset to deal with the daily challenges they face?
This is our Fast round
So the Next fast round question is sponsored by “audible” your inspirational book” what one book would you recommend as it relates to business family or life
Start your Free 30-day trial and get one free download with your free 30-day trial.
1) Best business advice you would put up on a bill board
2) Give us a Book in business, family or life:
Essentialism: The Disciplined Pursuit of Less by Greg McKeown
3) Your Best business practices
4) Everyone wants to know what’s the secret ingredients to your success
5) App that you use to help you in business, family or life
6) A quote or mantra that helps you be purposeful and practical – you use to inspire and motivate
7) Less than $100 purchase that has impacted your life the most –
8) Fun fact:
9) Worse advice being given to young entrepreneurs today –
10) When you think of the word successful what first name comes to your mind
11) What one thing Contributes most to your success
snappa saves you time, no need to hire a graphic designer, no need to use photoshop, provides beautiful graphics for social media ads, blogs, newsletters, invitations, family and holiday events.
what I now recommend it as a resource at mitchellchadrow.com/snappa
easy and simple to use Pre-made templates and all you do is add their hi-tech photos text graphics.
Guess what there is a feature that allows you to Resize your images for all different social media is that cool or what
As a Nondesigner myself, I now use snappa to make beautiful graphics
check it out you can sign up for free and they have other plans as well
today’s show is also sponsored by
Our listeners are looking for those special resources to help startup a business, generate ideas for family and life or to or to help them gain employment until they startup
So join other trusted friends of the Listenup Show, the Mitchell Chadrow Podcast and join my email list now at mitchellchadrow.com –
and as a thank you I will send you an outline for the Startup entrepreneur the same one we discuss on our last show 029 with our Co-Founders of vFit and the ebook 30 Tools and Resources to Startup just for joining today it’s great whether you are using it for business family or life so grab it today – guess what snappa is on that list
You can get all of today’s show notes head to mitchellchadrow.com/show030
And if you like this interview, please rate me on iTunes. That’s all I care about these days. Go to Mitchellchadrow.com/iTunes. It will automatically take you to iTunes. Throw in a rating. It will really help us out and it will help other people discover the podcast.
Join our mailing list at mitchellchadrow.com get that ebook 30 Tools to startup
How to keep in touch
Resources mentioned in this episode:
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How to startup. Process and steps to becoming an entrepreneur.
The vision for vFit.
Founders background, the role of team and coming together.
I speak with Savanna Leavitt, Co-Founder, and her other four Co-Founders of vFit an online shopping technology for shoppers. Savanna is a student enrolled in the Biomedical Engineering program at Drexel University with a focus on Biomechanics and Human Performance. She was raised in a very rural area of Maine. Savannah’s mother is entrepreneurial and runs her very own beauty salon with a line of makeup she has branded, Savannah learned a great deal about entrepreneurship and being passionate about what you do from her mom. Savannah has always been intrigued by the sciences and how things worked and she found her interested in a medical degree at a young age, that’s when she discovered biomedical engineering and as they say she was hooked. Since beginning at Drexel, her interest grows in her major. She feels blessed to have been given the opportunity to work with this diverse group of individuals for the development of vFit. The idea is something the group of five co-Founders has dreamt about since they were young, and now the excitement rises as they will bring their idea to the public for use. You should all keep up with their progress of the online shopping design and technology for shoppers like you.
The CMO will be overseeing the marketing, graphics and client relations department. This role guarantees that the application is well advertised, designed as well as aesthetically pleasing and maintains a rock solid reputation for meeting the user’s criteria.
Startup Entrepreneurs, Online Shopping for Shoppers.
vFit: sizing charts, online shopper, guessing the size of clothes across different brands and styles. the best way to decide on an article clothing is to try it on, and let’s be honest trying on clothing can be exhausting and impossible if you’re buying online! has recognized the frustration most people feel when it comes to choosing the right size and style and is trying to change that.
create 3D models of human bodies, technology will use the anthropometric dimensions of the user and create an avatar like a model
The idea is to help resolve a problem:
Use existing photographic technology to create realistic images with legitimate dimensions.
With these images create three-dimensional models of an individual’s body from the accurate photographs taken
Create holographic projectable images with the 3D models.
Long-term beyond 10-week span
Create a better shopping experience
Save customer time and trouble
The vFit design will use body scanning technology to scan the body of the user and create a 3D model of it along with dimensions. By using this technology the user will be able to project the holographic image into a mirror to display how an article of clothing will appear in one’s body.
With this technology, the process of trying on clothing can be properly simulated to make it more efficient for the online shoppers. With the time spent shopping in stores greatly decreasing, online shopping will be more user-friendly with the technology available to be able to simulate trying clothing on from home. vFit is expected to make the process of finding a clothing size easier as the sizes in stock and best fit for the body dimension projected will be provided. So, if you are tired of non-fitting clothes and constant returns, this is the right solution for you, a stress-free experience!
vFit is the revolutionary new application that will change the way people shop forever. Have you ever ordered clothing online and then received it in the mail only to find out it wasn’t what you thought it would be or just didn’t fit in general? Or have you ever been in the store and unsure if you should purchase something because you didn’t know what it would look like paired with something you already owned? Well vFit can do all that for you. Using virtual reality and metrics software this app can tell you exactly what that cute sweater will look like on you, because we are not using avatars, but instead take a video or picture of yourself and that piece of clothing will be displayed so you can see yourself from all angles and have confidence that what you are buying online will look the same when you receive it at home. Not to mention you can browse multiple catalogs and mix and match it with clothing that already exists in your closet. Never be afraid to buy clothes online again with vFit.
Resources relied on by startup entrepreneurs: GoPro, Autodesk,
Holographic Imaging, Adobe, SmartPhone, Anthropometric Measurements
Riddhi Ameser, Co-Founder: freshman computer engineering major at Drexel University from Lansdale, Pennsylvania. Born into a family of computer engineers, from day one technology, innovation, and thinking. One day aspires to be a leader who can manage her employees and effectively communicate from a technical and mechanical standpoint. She is honored to be a part of this team.
CEO is also responsible to oversee the board as well as develop and maintain relationships with business partners. To ensure the business side of the application is prosperous by developing the best strategies to make sure that vShop is able to compete with similar apps on the market and take a hold of the total market share.
Juliana Kocibelli, Co-Founder: born in Germany and raised in Albania, a small and beautiful country in Southeastern Europe. She is currently studying Biomedical Engineering at Drexel University with a concentration in Tissue Engineering. Always been fascinated by science and technology. Since I was very young I wondered how the heart pounds continuously and how the brain can control the body and make it function. With the years passing, the interest for science grew even more, especially when she was first introduced to Biology and Chemistry. That was the point when she started to realize that she loves studying the human body and serving the society by developing technology that would help people live a better life. Being part of a project like vFit she says is very exciting to her because it is a technology that she has always wanted to have access to, so why not create one!
So you should like and support the idea of vFit design as much as they do.
The CFO will be overseeing the finance and legal teams.Must manage the company’s finances to keep the operation afloat as well as searching for new outlets and sources of revenue allowing for future expansion and development of the application.
Joti Saha, Co-Founder: freshman enrolled in the Biomedical Engineering program at Drexel University. She plans to major in Biomechanics and Human Performance. Born in Brooklyn, New York and moved to a small suburb outside of the Philly area at a young age. She is passionate about dance and trained in an Indian classical dance form, called Bharatnatyam, for ten years. Her team fundraised for underprivileged kids in India with their annual charity shows. This experience has brought me closer to my future aspiration of making a difference in the world and helping others. Aside from dance, I became fascinated with math and science during my years in middle school. Around that time, my dad was diagnosed with cardiomyopathy and needed a pacemaker implant. The surgery was successful and he gradually recovered. Since then, the marvels of this heroic device forever piqued my interest. With more research, I found a deeper appreciation for the amount of time and effort put into this intricate, yet small device. It was fate when I discovered biomedical engineering. During my time here at Drexel University, I have become more aware of global and household problems. With that being said, I look forward to developing vFit with my team and eager to see where this project will take us. I hope you find our design useful and interesting.
The COO’s role is crucial to the day-to-day operations of the application as well as overseeing the human resources department. The duties of this role include setting up meetings, making sure that things run smoothly among the different departments as well as internal and external deadlines and goals are being met.
Ada Wang, Co-Founder: currently a freshman enrolled in the College of Engineering program at Drexel University with a focus on Mechanical Engineering. She was born in Newburgh, New York and moved to a very suburban area in Lancaster, PA. Growing up she enjoyed watching and playing sports, such as basketball, soccer, baseball, tennis, and golf. Her parents are co-owners of a Chinese restaurant. Because this was a family business, Ada grew up at a very fast age, mentally. Through the work experience and through the constant hardship that her parents had to suffer, as well as the fact they did not have the option to go to college, she fully devoted myself to take advantage of the opportunity to go to school and to choose a major that I felt fulfilled not only my interest in designing but also to make my parents proud. Through the courses that she has taken at Drexel, Ada slowly begun to find what really made her special and thus given the amazing opportunity to attend college, she also feels truly blessed to have met such an amazing group of women engineers who not only share the same passion as her but as excited to present their design: vFit. So join them on a journey that will change the way you shop today!
The role of the CTO is to work with IT and R&D departments and to make sure that the app is working and giving the user the best experience possible by using the most cutting edge technology. Initially, the CTO will be in charge of the massive data migration that will be taking place between the partnered clothing companies and the application’s platform.
While some may consider shopping to be one of their favorite hobbies, others dread just the mere thought of being in a department store for more than 5 minutes. Over the years, online shopping has provided some relief to those who hate stepping into the mall; however, it has yet to fully satisfy all of its customers. With over 25% of all items bought online, returned, nearly 80% of that being clothing, it seems as if trying to pick a size on an article of clothing shouldn’t have to be a gamble for your money. With the wide variety in sizing charts among different brands, some with more generous size charts and others less so, it is almost impossible for an online shopper to feel confident guessing the right size across different brands and styles. Not to mention, in-store shopping can take up too much time and energy. But if there was a mobile application that ensures both fit and quality, would you believe it? LAWKS Graphics is proud to introduce vFit, an application designed to accommodate the needs of consumers and the gap within the clothing industry. As of today, there are virtually no applications that allow an individual to see how a piece of clothing would look on them in real time. vFit brings the live shopping experience to you, whether it be in the office, home or public. vFit is the way the next generation will shop. *
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Marketer Entrepreneur Bootstrapper Graphic Designer Christopher Gimmer, Co-Founder Snappa In this episode, you’ll learn from Christopher: 1) The goal of Snappa 2) How he went from finance and the Federal government to run his own graphic design startup 3) How he surveyed his customers of his stock image site (stocksnap.io) Which helped Christopher Read More ...