The University of San Diego’s most recent angel investing conference has honored three very early stage startups with funding “for their potentially disruptive solutions” in the marketplace.
LIMBER Prosthetics & Orthotics, which was founded by two alumni from UCSD’s engineering school and is developing personalized prosthetics, walked away with the top cash prize of $200,000. The startup also took the conference’s People Choice Award, according to a news release.
Relavo, a New York City medical device startup developing a technology to make home dialysis more accessible by minimizing the risk of infection, received $150,000, and Athletiverse, which helps student athletes monetize their personal images, took $75,000.
A spokeswoman said 106 startups applied for consideration at the conference. The money was awarded out of a common fund which was raised among participating angel investors.
Other finalists included Minnesota-based Modari Medical, making a patch for treating erectile dysfunction; Maine-based PumpSpotting, a community breastfeeding and baby feeding support platform; and Tennessee-based Wave Therapeutics, a woman-owned startup developing treatments for pressure injuries.
More than 30 organizations partnered with USD to stage the program. Conference founder Mysty Rusk said the conference seeks to work with accredited investors to help innovative early-stage companies.
“Securing an angel investment doesn’t require affluence, education, or wealth,” she said. “It requires a smart solution to a real-world problem and an entrepreneur with tenacity and a tolerance for risk.”
LIMBER has deep roots at UC San Diego: it is currently part of the medical technology accelerator in the Institute for the Global Entrepreneur at the UC San Diego Jacobs School of Engineering.
The program has been a boost to companies that have participated in the past:
A number of previous program recipients have gone on to bigger and better things.
One company, CARI Health, recently raised $2.3 million. CARI took the top prize last year with over $300,000 in funding for its wearable remote monitor to keep patients on life saving medications.
Another recipient, Escondido-based Aquacycl, which is developing technologies to treat wastewater, won $295,000 in funding in the first competition five years ago. Founder Oriana Bretschger says the program has been invaluable. Aquacycl has raised $14.1 million in funding over seven rounds after participating in the conference.
Previous recipient Fluid Power AI, which can be installed on any hydraulic system to monitor its operating status and predict failure, recently closed a $4.8 million round with institutional investors.
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Regional financial institution Mission Fed Credit Union has opened a new branch in Del Mar Highlands Town Center. The credit union claims to be the largest member-owned, not-for-profit financial institution exclusively serving the county.
The new branch offers a full line of financial services and is open Monday-Friday, 9 a.m. to 5 p.m., and Saturday from 9 a.m. to 4 p.m.
Mission Fed, founded in 1961, has 34 branches across the San Diego region, with the newest location being the first Mission Fed branch to open in the Del Mar Highlands area.
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Personal finance website WalletHub recently issued a list of the top 20 cities in the United States to start a business, but San Diego wasn’t on it.
The listing of the top cities was part of a report, 2023’s Best Large Cities to Start a Business, in which WalletHub compared 100 U.S. cities across 19 key indicators of startup viability.
We came in at No. 66 on the list.
Orlando was the top city on the list, while Dallas was No. 20. Overall, Miami and Hialeah, Florida, had the most startups per 100,000 residents, at 254.62 compared to 67.92 in Toledo, Ohio, the city with the fewest.
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The Carlsbad Chamber of Commerce recently honored a number of local businesses, educators, and a police officer at its recent 2023 Carlsbad Business Achievement & Distinction Awards. The event recognized the exceptional contributions and achievements of various individuals and organizations in the Carlsbad community.
The winners included Calsense, named business of the year in the small business category, and John Stevenson Plumbing, Heating & Air, awarded business of the year in the large business category. BrightStar Care of Carlsbad was recognized as the best place to work, while Senior Care Options received the community impact award.
Investing By Design was honored as the innovator of the year, and Community Resource Center was named nonprofit of the year. Solutions for Change received the people’s choice award, and Bitchin’ Sauce was awarded the kindness inspiration award.
In addition to the business awards, several educators were recognized for their outstanding contributions to education in Carlsbad.
The chamber recognized a dozen long-term members, including EMD Electronics and Tri-City Hospital Foundation, both of which have been members for 35 years.
A spokesperson said the awards highlight the outstanding contributions of businesses, educators, and community members, highlighting the vibrant and diverse business community in that North County city.
The Carlsbad Chamber says it is the largest chamber in the North County area with more than 1,000 members.
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Finally… Van Dermyden Makus Law Corp., which claims to be one of the nation’s top workplace investigations law firms, says it expanded its reach with the opening of a Tempe, Arizona, office and hiring of five new attorney investigators nationally.
VM Law says it has grown rapidly each year, expanding its West Coast operation with offices in Los Angeles, Sacramento, San Diego, Marin County and Arizona.
According to a news release, the firm is at the vanguard of the investigations sector, identifying early opportunities in employment law such as the demand for neutral workplace investigations and specialized Title IX services.
According to one definition on the internet, Title IX is a federal law that attempts to remove barriers that prevent people from participating in educational opportunities and careers of their choice.
Tom York is a Carlsbad-based independent journalist who specializes in writing about business and the economy. If you have news tips you’d like to share, send them to tom.york@gmail.com.