Hundreds of Angel Investors, Entrepreneurs, Venture Capitalists, Leaders Gathered to Focus on Growing Baby Boomer Industry
(Photo by Vic Valbuena Bareng)
SANTA CLARA, Calif. (June 28, 2013) – Resido Medical was the grand prize winner of the Business Plan Competition Wednesday at the Silicon Valley Boomer Venture Summit, held at Santa Clara University. Stanford Biodesign Innovation Fellow and Resido Medical Co-Founder Kate Rosenbluth accepted the $10,000 for the budding research & design company. In its 10th year, the Summit brings together entrepreneurs and venture capitalists to share information about serving or investing in companies catering to consumers age 50 and older.
“We are thrilled to receive this award and be named the winner of the Silicon Valley Boomer Venture Summit Business Plan Competition. It will support our clinical study and device development, bringing Resido Medical one step closer to halting the uncontrollable shaking that turns a simple task like drinking a glass of water into a daunting challenge for millions of Americans,” said Kate Rosenbluth, co-founder, Resido Medical. “The Summit has been an eye-opening welcome into the passionate community of participants dedicated to making aging a positive experience. It has been both humbling and inspiring to receive such enthusiastic support for our technology.”
More than 10 million Americans are affected by Essential Tremor, the most common movement disorder, which can inhibit independent living as patients lose the ability to perform daily tasks such as writing a check, buttoning a shirt, cooking, and eating. Current treatment options including minimally effective drugs, often carrying heavy side effects, or highly invasive brain surgery have been deemed inadequate. Resido Medical has developed a novel therapy – a medical device – to help eliminate tremor. The device is currently in clinical trials at Stanford University to treat mild, moderate, and severe tremor.
“Every dissonance of aging is a market opportunity. With 77 million Boomers and the birth of our longevity economy, entrepreneurs are developing innovative solutions for the market. Resido Medical is solving a real need that will impact the lives of millions of people with tremor,” said Mary Furlong, the Summit’s producer. “All of this year’s Business Plan Competition finalists were extremely strong, and we’re hoping through relationships sparked at the Summit, more projects and innovations will be funded.”
The four other finalists included ChemoPatch, OpenPlacement, Pristine Solutions, and QMedic. The competition was moderated by Jeff Maltz, CEO and founder of SilverRide and judges included: Jody Holtzman, senior vice president, thought leadership, AARP; Tom Rodgers, managing director of strategic investments, Cambia Health; Jeff Shoemate, vice president, innovative and business development, UnitedHealthcare; Gavin Teo, investment professional, Comcast Ventures; and Steve Wittman, director of strategic venture, Linkage.
The Summit went global for the first time, with a panel moderated by Co-Producer Susan Ann Davis, chairman of Susan Davis International. “Global Investing Perspectives” featured entrepreneurs and investors from Ireland, India, and Brazil: Andrew Macfarlane, Arvind Thiagarajan, and Harald Batista respectively. The panelists encouraged greater collaboration among companies around the world involved in healthy aging and aging in place industries.
The annual Silicon Valley Boomer Venture Summit & Business Plan Competition is a venue for entrepreneurs and venture capitalists to share information about serving or investing in companies catering to consumers age 50 and older. The event is produced by Mary Furlong & Associates, the nation’s premiere strategic consulting firm for businesses targeting the boomer and senior marketplace and co-produced by Susan Ann Davis, CEO and chairman of Susan Davis International, a full service public relations agency headquartered in Washington, D.C. Leading venture capitalists and angel investors discuss the strategy behind their investments in this market, company executives highlight successful business models and new ideas, and analysts explain how they segment the market and evaluate business opportunities. A recap of Summit activities will be available on www.maryfurlong.com by July 15.
Sponsors of the 2013 Silicon Valley Boomer Venture Summit & Business Plan Competition include AARP, Beckon, Cadence Biomedical, Caring.com, First Republic Bank, GreatCall, Home Instead, iMediaSalesTeam, InnovateLTC, Legacy, Link-age, Living Plug, Lotsa Helping Hands, Morrison & Foerster, Move, Inc., News USA, Pet Plan, Posit Science, Prialto, Santa Clara University Center for Innovation and Entrepreneurship, Shaklee Corporation, SilverRide, SmartMonitor, Southwest Airlines, Starkey, and UnitedHealthcare.
Media Note: Photo to accompany this news item. To coordinate interviews with this year’s Business Plan winner, Resido Medical, the four additional finalists, or Summit Producers Mary Furlong or Susan Ann Davis, please contact Sara Neumann at sneumann@susandavis.com or (202) 414-0788.
About Mary Furlong & Associates
Mary Furlong & Associates is the nation’s foremost consultancy to organizations seeking to capitalize on new business and investment opportunities in the boomer market. The company provides business development, financing strategy and integrated marketing solutions to entrepreneurs, corporations and non-profit organizations serving the 50+ market. Dr. Furlong has raised over $130 million in venture financing and corporate sponsorships aimed at the 50+ market. She is the Dean’s Executive Professor of Entrepreneurship at the Leavey School of Business at Santa Clara University and founder of SeniorNet (1986), Third Age Media (1996), and Mary Furlong and Associates (2002). For more information, visit www.maryfurlong.com.
