winners revealed

Rice University student startups win $65,000 in competition

The annual H. Albert Napier Rice Launch Challenge awarded equity-free cash prizes to three impressive student startups. Photo courtesy of Rice University

A Rice University startup competition concluded with a big win for a company started by students trying to use tech to help prevent veteran suicide.

The startup, rutd: resources united. technology driven., a secure platform that can deliver more than 14,000 mental health resources to veterans, won first prize at the virtually held H. Albert Napier Rice Launch Challenge last week. The prize included a $27,500 check.

Seven other Rice-affiliated startups pitched for judges at the event for a shot at equity-free seed funding. The program is a part of Rice's Liu Idea Lab for Innovation and Entrepreneurship, or Lilie.

"With the biggest and most diverse field of competitors in the history of the competition, it shows that at Rice and Lilie, you don't have to choose between being a student and working on your startup. We empower you to do both," says Kyle Judah, executive director of Lilie, in a press release. "These founders took advantage of all our resources and opportunities — which is why they had million-dollar partnerships and tens of thousands of users at competition time."

Second place went to Green Room, a startup that aims to provide tools — like payments and tax compliance — for Houstonians in the live music industry. The Green Room team won $20,000.

In third place was A440, a company focused on "bringing the creator economy to classical music, helping a centuries-old art form find new life in the modern era," according to the release. A440 won the $15,000 third place prize, as well as the $2,500 Norman Dresden Leebron Audience Choice Award.

The competition, which was sponsored by was sponsored by Mercury Fund and T-Minus Solutions and supported by the Napier family and the Liu Family Foundation, also provided mentoring and pitch coaching opportunities from experts and the Rice community.

The judges included Rice alumni Claire Shorall, CEO and co-founder of Topknot; Sunit Patel, CFO of Ibotta; Monica Pal, founding partner of How Women Invest; Chris Staffel, managing director of GOOSE Capital; and Brad Husick, CEO and founder of IdeaSense.

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Building Houston

 
 

A Houston startup that created a remote monitoring and care platform has raised millions in financing. Image via michealthcare.com

A virtual health care and analytics provider startup has closed its latest round of funding for a total of $27 million in financing.

Medical Informatics Corp. closed a $17 million series B co-led by Maryland-based Catalio Capital Management and California-based Intel Capital. The financing also includes an additional $10 million in debt led by Catalio through Catalio’s structured equity strategy, according to a news release.

“We are excited to have had this round co-led by Catalio and Intel Capital," says Emma Fauss, CEO and co-founder of MIC, in the release. "Catalio brings significant financial and technical resources, while Intel Capital possesses strong operational and industry experience, and we look forward to continuing to leverage both firms’ expertise as we continue to scale.”

MIC created an FDA-cleared virtual care platform, called Sickbay, that gives health care providers and hospitals away to remotely monitor patients in any setting with vendor-neutral real-time medical device integration, workflow automation and standardization.

“We have seen an increased demand for our solution as our clients face significant staffing challenges and are looking for ways to amplify and empower their workforce," Fauss says in the release. "Some of the largest health care systems in the country are standardizing their infrastructure on our Sickbayplatform while consolidating IT spend."

Other participants in the round included new investors TGH Innoventures, Tampa General Hospital’s innovation center and venture fund, and Austin-based Notley — as well as existing investors San Francisco-based DCVC, the Texas Medical Center, and nCourage, a Houston-based investment group.

As a part of the round, two individuals from Catalio will join the board at MIC. Jonathan Blankfein, principal at Catalio will join the board of directors, Diamantis Xylas, head of research at Catalio, will join as board observer.

“Health care systems’ need for high-caliber, cost-saving, data-driven technology is only going to increase, and MIC’s proprietary platform is perfectly positioned to address some of the most critical clinical challenges that health care organizations face,” says Blankfein in the release. “We look forward to continuing to support MIC’s strong team as it continues to deliver better outcomes for health care organizations and patients alike.”

Amid the pandemic and the rising need for remote care technology, MIC scaled rapidly in the past two years. The company will use the funding to continue fueling its growth, including hiring specialized talent — deep product specialists and client engagement teams — to support long-term strategic partnerships.

“One of the main barriers to advanced analytics in health care is the siloing of data and today there is a significant need for a platform to enable flexible, centralized and remote monitoring at scale and on demand,” says Mark Rostick, vice president and senior managing director at Intel Capital, in the release. “Medical Informatics is setting a new standard of health care by removing these data silos for health care providers of all sizes and transforming the way patients are monitored from hospital to home with real-time AI.”

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