A winning idea is a winning idea. For anyone who has been following the trajectory of Inscope Medical Solutions, Tuesday’s Vogt Award win was no big surprise. Simply put: It’s been their year.
The University of Louisville MBA program company has developed an innovative laryngoscope that is the first all-in-one intubation solution to provide a clear view of every airway. Last night they took home the $100,000 Vogt prize.
Fifteen percent of intubations have complications. Inscope’s OneScope device combines a video camera, a light and suction. They have been working with local EMS workers to test the product.
Demo Day for the Vogt Awards saw five manufacturing companies compete at the Pointe in Butchertown. The companies pitched their startups after spending 10 weeks in a Lean Startup course held by Nucleus. Each company also received a $20,000 development grant, coaching by industry mentors, and resources from FirstBuild, LVL1 and the J.B. Speed School of Engineering.
The other four companies were:
• Hue Innovations: Developed MiColor, which customizes all colors of nail and gel polishes and various finishes for nail salons. The custom polish is nontoxic and the product significantly reduces waste. During the Vogt program, the company secured five pre-orders.
• Stinger Equipment: Produces equipment for the hardscape and masonry industries that protect the user from cancer-causing silica dust. The agile saw captures 98 percent of the dust when cutting stone.
• Sunstrand: Supplies and processes bio-material for domestic polymer composites; uses a proprietary line of bamboo and other products to lower the weight and increase eco-friendliness of the materials. They have been supported by Village Capital.
• Tri-Blue Engineering: Created a sour gas processing unit that removes carbon dioxide and hydrogen sulfide from natural gas processing plants. They called it the “Brita filter for natural gas.”
The awards are funded by the Vogt Invention and Innovation Fund. The fund was made possible by a posthumous gift from Henry Heuser Vogt, who worked for his family’s business, Henry Vogt Machine Co., including 28 years as the president. The fund is meant to support and inspire manufacturers and inventors in their efforts to develop products and bring them to market. It was established in 1999.
Inscope Medical was one of EnterpriseCorp’s Hot Dozen this year. In August, they were invited to ring the bell at the New York Stock Exchange. They came in first at the Brown-Forman Cardinal Challenge, winning more than $125,000; placed third at the Oregon New Venture Championship, which landed them in the “Super Bowl” of student business-plan contests, the Rice Business Plan Competition at Rice University in April, where they placed second; and took home the top honors at the Global Venture Labs Investment Competition, held at the University of Texas in Austin.