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Elevate Ventures names pitch competition winners

(photo provided by NearWave Corp.)

INDIANAPOLIS (Inside INdiana Business) — Indianapolis-based Elevate Ventures has named five winners of the second annual Elevate Nexus Statewide Pitch Competition. The winners, located in Indianapolis, Bloomington and South Bend, received a total of $320,000 in pre-seed and seed funding.

A total of 55 companies submitted pitches, and the five winners were picked from among 10 finalist startups. Three received pre-seed funding and the other two received seed funding.

“It was an honor to be a judge at this year’s competition. I was thoroughly impressed with the finalists and their companies. It truly is entrepreneurship at its best and exemplifies why it is so important to support these endeavors in Indiana,” said Barbie Wentworth, president and chief executive officer of Miller Brooks and Elevate Ventures’ board member.

The winners include:

Pre-Seed -$40,000 investment

  • Menstrual Mates, Bloomington: An inclusive period care company delivering the best menstrual cup for beginners.
  • NearWave Corp., South Bend: A medical device company changing the way breast cancer imaging is done.
  • Sleep Easy Technology, South Bend: A medical device startup developing a novel oxygen pillow for oxygen therapy.

Seed – $100,000 investment

  • Adipo Therapeutics, Indianapolis: A biotech startup developing a breakthrough technology platform that converts energy storing white fat into energy burning brown fat as a potential treatment for type 2 diabetes.
  • Atlas Solutions, Bloomington: A grant management platform supporting non-profit organizations.