IVWear is headlining the news! And we just started around a year ago. Maybe you heard of us already! Maybe you read our story in the Universiteitskrant (UK). We claimed 3rd place of Medisch Inspirator Prijs (medical inspirator price), a competition held by ZonMw for the most promising start-up companies in the Dutch medical world. This, with all the publicity that came with it, resulted in a price money of 25.000 EUR, an amount which at first seems difficult to be spent but in the end is very necessary in order to bring our product to the next level. We have so far raised around 100.000 euros without giving away a single percent of our stakes and are planning to even improve on our progress within the next few months.
But first things first
Pleased to meet you. We are: IVWear B.V We are quite excited about this op-portunity to blog our story and let you be part of this intriguing adventure that we have started around a year ago. It will, next to the standard update also invite you to the world of an entrepreneur, about emotions and about the downfalls and the highs of an entrepreneurial lifestyle.
During the VentureLab entrepreneurial programme, organized by Prof. Aard Groen of the University of Groningen Centre of Entrepreneurship, we found the basis for our idea: to make an IV treatment carriable! We immediately saw the potential of improving patients life! Not only would we give the patients less of a feeling of being fully dependant on an inconvenient and old-school pole, but it also is known that movement helps patients to improve significantly faster after a surgery and provides on top of that preventive characteristics for cardio-vascular diseases, diabetes and even certain types of cancer. As a team of three, we accepted the technical and entrepreneurial challenge to bring this idea to life. And what a journey it has been! A year and multiple start-up competitions, start-up events, presentations and after-work parties later, we are now the proud owners of our officially registered company, IVWear B.V.
Improving the product
Often we are asked what we will use the money for that we received. In order to take a product to the market, especially in the medical world, it requires a lot of testing, and testing is always very expensive. Next to this, we need to keep working on and improving our product, meaning a continuous increase in production costs. And as a last of the more significant cost factors, we use the financials for external expertise. Even though we do have a broad background in the core team of IVWear (medical, juridical and technical), we want to ensure the best quality of the product and sometimes certain aspects go beyond our capabilities which require additional eyes to look over our shoulders. And there is more to tell.
We are in the Philips Innovation Award Grand Final 2018! Goody! We have to pitch our portable drip May 7th in Rotterdam. The Philips Innovation Award is the largest student-entrepreneur award in The Netherlands. The winner wins €50.000 for bringing their product innovation to the market. And we introduced our portable drip prototype to the two Dutch princesses Beatrix and Mabel on the Day of the Engineer at the Energy Academy Europe, University of Groningen. Princess Beatrix encouraged us to deliver our portable drip with the aim to ensure the optimal freedom of movement for patients.
That’s it for now!
As a conclusion for our very first blog entry, IVWear has been an incredible experience so far and we are very grateful to all the people that have supported us so far and that we know will also support us in any upcoming challenge! Also, we are very much looking forward to share the stories that have accumulated, and will continuously do so, with you, the reader of this blog. Don’t blink, you may just miss the next big step of IVWear!