FREDERICK, Md., July 14, 2020 /PRNewswire-PRWeb/ -- CarrTech LLC has been awarded $50,000 from TEDCO's Pre-seed Builder Fund, as well as professional executive coaching services for their leadership team. This significant investment and executive support specific to medical devices, will better position the company to receive follow-on, professional investment. It will assist them with the FDA approval application and establishing licensing agreements with the large pharma companies. The Builder Fund differentiates itself by identifying exceptional investment opportunities that are often overlooked by traditional funding organizations, but are promising Maryland-based startups that will grow and last, and CarrTech has shown to be exactly that.
Sue Carr, the President and the Founder, and her team have developed an innovative solution, The Filter Removal of Glass (FROG), a filter cover and inner needle that is safer, faster, easier, cheaper, and greener than conventional filtering systems. The FROG™ is an all in one package, one filter one needle solution, which requires only one step and is 50% faster than traditional two step filter needles. This needle eliminates the risk of contamination and needle sticks injuries that occur using traditional hypodermic needles, which saves healthcare facilities a lot of money, and is better in time sensitive situations. Therefore, The FROG has the potential of replacing the current multi-needle multi-step process, saving time and money for hospitals, and completely changing that aspect of health industry.
The company has been growing and developing rapidly since their graduation from The Community Growth Accelerator Program The Edge, a 12-week accelerator program launched by Frederick Innovative Technology Center Inc. (FITCI) and their community partners. Sue, together with the rest of the leadership team, graduated from The Edge in October 2019, where they had an opportunity to be coached by a group of over 70 mentors, entrepreneurs and CEOs from the local Frederick community and D.C. Metro area.
"FITCI is very proud of Sue and her entire team, for all their amazing accomplishments and the innovation they are bringing to the health industry," said Kathie Callahan Brady, the CEO of FITCI, where CarrTech is currently one of 52 startup clients. "CarrTech's is an extremely promising startup, and I am expecting to hear more about their success in the near future," Callahan Brady added.
Since graduating from the accelerator, CarrTech received another two patents; their third US patent back in December 2019, and just recently, in April 2020, a patent for the Canadian market. The Canadian patent is a great addition to company's existing US Patents Nos. 8,002,751, 9,669,164, and 10,512,728.
CarrTech continued their incredible run by pitching at different investment competitions. They pitched at 2020 Spring Shore Hatchery competition. The Perdue School of Business Philip E. & Carol R. Ratcliffe Foundation Shore Hatchery is a bi-annual Mid-Atlantic business competition, that assists entrepreneurs in creating new jobs in the region. The goal of the Shore Hatchery is to reward individuals for their entrepreneurial efforts in the creation and growth of businesses with the potential of positively impacting regional employment within three years. Startups had a chance to win a share of $200,000. CarrTech won 5th place overall, was awarded $10K and a business coach at the Radcliffe Shore Hatchery.
CarrTech has been selected to participate in Cooley's Digital Health & Life Sciences Capital Call - Where Innovation meets Capital, in June, 2020. The program featured them together with seventeen other seed and venture-stage companies who presented three-minute, rapid-fire pitches. Following the pitches, these promising startups had an opportunity to do Q&A and demos with prospect investors.
Company's founder and CEO has also been recognized on numerous occasions over the past several months. Sue Carr received "Doug Anderson's, D.C Live Red Hot Entrepreneur of 2020" award and was selected as "Spotlight Pharmacist" of the year by her colleagues at Washington Society of Heath-System Pharmacists (WMSHP).
Company's leadership is very pleased with their current progress, and especially with the recent Builder's Fund grant as it will put them in a better position to make big changes in the health industry. "One never knows how one person or one idea can affect the universe. Be a part of the solution. Be a Unicorn," concludes Sue Carr.
SOURCE CarrTech LLC
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