For the second straight year, Novilytic was invited to pitch at the Venture Club of Indiana’s “Innovation Showcase” competition. We’re grateful to the Purdue Research Foundation for our nomination. The Innovation Showcase is a celebration of early-stage startups across the Hoosier State. Twenty companies were lucky enough to receive a nomination. The benefits included networking, a trade show environment with investors, and a three-minute pitch opportunity. The main question to be answered was What is your Market Gap? Why is YOUR company capable of filling it? Our answer is simple: After about two hours, contamination in a batch of medication can no longer be altered in production. Cleaning up the contamination doubles the cost of manufacturing and may lead to millions of dollars lost if a batch is scrapped. Unfortunately, current evaluation takes pharmaceutical companies 4-14 hours to identify contaminants. Our Proteoform Meter, AKA “Proteometer Kit” connects to existing instruments and can detect when a batch is going bad in near-real-time. This saves an exorbitant amount of both time and money in the manufacturing process. Three minutes to cover the market gap, team, market size, and innovation line up nicely for a standard pitch. However, Novilytic is all about outside-of-the-box approaches. Instead of a typical investor pitch, we decided to have fun with our three minutes and were the only company to present in the form of a skit. Our idea was “Jeoparty”, a scripted gameshow that stepped through the judging rubric while allowing for witty banter between the host and our contestant, “Jerry Canary.” The skit was exceptionally well received and a good way to stand out from the pack while adding humor to the stressful scenario of live pitching in front of hundreds of attendees. We are excited to keep sharing our mission and building momentum as we approach pilot programs and an eventual launch of this consumables kit! For investor inquiries and more details about our technology and target market, please contact Paul Dreier, BSc., MBA, at pdreier@novilytic.com
