Columbia's Startup Businesses Getting Much Needed Funding

7 years 2 months 3 weeks ago Sunday, October 28 2012 Oct 28, 2012 Sunday, October 28, 2012 3:59:00 PM CDT October 28, 2012 in News
By: Nick Brennan
loading

COLUMBIA - Startup businesses in Columbia are receiving a lot of interest from investment groups. With that interest, funding could follows. Two startup businesses in particular, EternoGen and MedSocket are now either beginning to grow or in steady growth thanks to investment from local investment groups such as the Missouri Technology Corporation and Centennial Investors, a network of private angel investors.

Luis Jimenez, CEO of EternoGen, said that his company is on the cutting edge of technology and vision.

"Our mission is actually to transform the regenerative medicine industry. This industry is one that's actually in its infancy, I must say, in terms of technologies that allow the body to regenerate the tissues it needs," Jimenez said.

EternoGen's technology is being designed to utilize collagen, the most abundant protein in the body, and transform it with nanotechnology. To keep it in perspective, Jimenez gave a few concrete examples of what the technology could do once perfected.

"We believe we'll be a corporation that will be making wound-healing applications or a corporation that will be making better solutions for soldiers in combat. When they have a gunshot, they're bleeding profusely and there's currently no good solution for that so we'll be designing things for those applications as well," Jimenez said.

Missouri Technology Corporation, Centennial Investors and an investment program sponsored by the University of Missouri, the Enterprise Investment Program, contributed a combined total of $500,000 to EternoGen to allow it to officially launch in March. Jimenez told us that the funding has opened up many necessary doors for the company.

"We've actually been able to recruit world talents for our industry, so I've been able to really make our team fulfill the needs it has to have in order to commercialize this product. We've also been able to travel within the United States and also internationally to make sure we've got the right collaborations and also to look at other companies that might be collaborating with us to manufacture this product or to distribute it. Finally, we've been able to really increase the R&D", Jimenez said.

Practicing physician Karl Kochendorfer started his health information technology company MedSocket much the same way, even with the same investment groups. With a combined total of $350,000 from Missouri Technology Corporation and Centennial Investors, Kochendorfer developed his two information services, a one-click decision support system or OneCDS and a medical search engine. He said he was inspired to create this technology after seeing gaps in medical information and patient care that could be filled.

"Right now, doctors have lots of information needs and currently they don't get answers to those information needs, so a doctor may have a question about how to best treat their patient. Or whether their insurance might cover something, whether they should be providing this drug versus a different drug", Kochendorfer said.

Kochendorfer elaborated, in regards to his services, "we can provide physicians with access to the most reliable information to improve patient care. We also connect doctors with the best online treatment calculators and algorithms to improve the decision-making process when they're trying to care for their patients".

Investment seems to be up in Columbia, but nationwide its a different story. According to a Broomfield Enterprise article, venture capitalism is down nationwide with venture capitalists investing only $6.5 billion into 890 business deals this year compared to the same time last year with $7.3 billion invested in 992 deals. 

Despite the national trends, both Luis Jimenez and Karl Kochendorfer consider their companies to be in good positions to grow. 

Said Kochendorfer, "We envision that we're going to be expanding very quickly and very rapidly and be creating jobs in Missouri".

And Jimenez reported that EternoGen is now applying for its second round of funding. It has already secured $500,000, bringing its total funding from creation to $1 million.

 

More News

Grid
List
HOLDEN— Law enforcement officers in Holden, Missouri have taken a man into custody after a homicide Saturday, according to a... More >>
3 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 5:59:00 PM CST January 19, 2020 in News
COLUMBIA - Local Kansas City Chiefs fans are spending their day watching the game with family and friends to see... More >>
5 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 3:57:00 PM CST January 19, 2020 in News
JEFFERSON CITY — The Capitol Kids, a multipurpose gym, reopened its doors on Sunday, nearly 8 months after a tornado... More >>
6 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 3:37:00 PM CST January 19, 2020 in News
ST. LOUIS- One Kansas City Chiefs fan saved the day by driving wide receiver Tyreek Hill's grandparents to the AFC... More >>
6 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 3:32:00 PM CST January 19, 2020 in News
FLORISSANT - Additional charges will be filed against a man accused... More >>
8 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 1:19:50 PM CST January 19, 2020 in News
(CNN)- The US Department of Agriculture on Friday announced two new proposals that would give school nutrition professionals "more flexibility"... More >>
9 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 12:43:00 PM CST January 19, 2020 in News
KANSAS CITY - A teenager who was critically wounded during a weekend shooting in southeastern Kansas City, Missouri, has died.... More >>
11 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 10:22:15 AM CST January 19, 2020 in News
ARNOLD, MO - A couple who had been together for nearly 65 years have died on the same day at... More >>
11 hours ago Sunday, January 19 2020 Jan 19, 2020 Sunday, January 19, 2020 10:06:00 AM CST January 19, 2020 in News
ASHLAND- Dozens of children from across mid-Missouri came together to play and learn about a potential profession at the annual... More >>
1 day ago Saturday, January 18 2020 Jan 18, 2020 Saturday, January 18, 2020 6:53:00 PM CST January 18, 2020 in News
ST. LOUIS — Thousands of St. Louis-area families were freed from a major financial burden thanks to a charitable effort... More >>
1 day ago Saturday, January 18 2020 Jan 18, 2020 Saturday, January 18, 2020 6:25:00 PM CST January 18, 2020 in News
COLUMBIA - With more than 450 attendees, Bur Oak brewery was packed for the fifth annual 2020 MO Bacon &... More >>
1 day ago Saturday, January 18 2020 Jan 18, 2020 Saturday, January 18, 2020 4:48:00 PM CST January 18, 2020 in News
KANSAS CITY, Mo. - A few days after her son was born on Super Bowl Sunday Ellen Gill learned he... More >>
1 day ago Saturday, January 18 2020 Jan 18, 2020 Saturday, January 18, 2020 2:18:00 PM CST January 18, 2020 in News
COLUMBIA - Police arrested a man in connection to shots fired reported on Friday night at the Walmart on Broadway,... More >>
1 day ago Saturday, January 18 2020 Jan 18, 2020 Saturday, January 18, 2020 2:03:00 PM CST January 18, 2020 in News
KANSAS CITY, Mo. (AP) — The owner of a tourist duck boat that sank in a Missouri... More >>
1 day ago Saturday, January 18 2020 Jan 18, 2020 Saturday, January 18, 2020 12:56:00 PM CST January 18, 2020 in News
FULTON - Inspirational speaker and former Minor League Baseball outfielder Chris Singleton, who lost his mother in a shooting at... More >>
1 day ago Saturday, January 18 2020 Jan 18, 2020 Saturday, January 18, 2020 9:01:00 AM CST January 18, 2020 in News
COLUMBIA – The city of Columbia reporter hundreds of residents were without power Friday afternoon in east central Columbia, in... More >>
2 days ago Friday, January 17 2020 Jan 17, 2020 Friday, January 17, 2020 6:03:00 PM CST January 17, 2020 in News
KANSAS CITY, Mo. (AP) — Former Walmart Inc. chief executive David Glass, who owned the Kansas City Royals for nearly... More >>
2 days ago Friday, January 17 2020 Jan 17, 2020 Friday, January 17, 2020 5:24:21 PM CST January 17, 2020 in News
MID-MISSOURI - Another week in January, and another winter storm. This time around it will likely all happen in one... More >>
2 days ago Friday, January 17 2020 Jan 17, 2020 Friday, January 17, 2020 4:46:00 PM CST January 17, 2020 in Weather
Columbia, MO
Broken Clouds 14°
10pm 12°
11pm 12°
12am 11°
1am 11°