Idea Foundry

Idea Foundry, established in 2002 and based in Pittsburgh, is a non-profit organization dedicated to fostering innovation and job creation across various sectors, including life sciences, entertainment, education, social enterprise, advanced materials, and water. With a portfolio exceeding 125 companies, Idea Foundry specializes in hands-on business development and technology transfer, emphasizing socially impactful innovation-based ventures. The organization operates with a mission to accelerate the commercialization of innovative ideas, ultimately contributing to economic growth and community development.

Choi, John

COO and Growth Hacker

62 past transactions

Optimus Technologies

Series A in 2023
Optimus Technologies is a clean energy technology company based in Pittsburgh, Pennsylvania. Optimus manufactures the Vector System, an advanced fuel system technology that enables diesel engines to operate on 100% biodiesel. Emissions reductions for heavy-duty fleet applications are challenging or impossible to achieve in a cost-effective manner through other means. The Vector System integrates into existing operations to facilitate a seamless transition to low-carbon fuels.

nanoGriptech

Venture Round in 2020
NanoGriptech has developed a nature-inspired microfiber based adhesive that functions in the same way a gecko’s feet stick to surfaces. As a dry, durable, residue-free, and customizable adhesive, nanoGriptech’s product provides a superior alternative to reusable adhesives currently being used in a large variety of industries such as clothing, sports, automotive, product design, and medical devices. The company has successfully engaged in partnerships with several multinational corporations across these industries and just started its first small volume sale in high friction/grip clothing material market.

Marinus Analytics

Convertible Note in 2020
Marinus Analytics is an open-source intelligence and internet safety organization. Combating crimes including human trafficking, child sex abuse, and money laundering, as well as protecting vulnerable victims, are two areas on which we place a special emphasis.

LeanMed

Convertible Note in 2019
LeanMed is a medical device company. They provide life-saving medical oxygen to everyone. The initial device, the solar-powered O2 CUBE, is intended to provide patients at outlying health clinics in emerging regions with essential supplemental oxygen.

Panacea.Ag

Convertible Note in 2019
Panacea.Ag is a technology company focused on creating efficient, resilient and sustainable local food ecosystems. The company exists at the intersection of local food production, greenhouse automation, tracking and compliance, and investor-friendly financial technology, to create a holistic approach to food security. Panacea's mission is to create healthy and wealthy communities through decentralized, local, and nutrient-dense food production. Its solutions enable sustainable local food ecosystems. In order to achieve that, we integrate various technologies such as blockchain, hardware automation, machine learning, intelligent market analytics, and advanced financial technology tools. Foremost of all is our intuitive cloud platform and mobile apps.

Nymbus Media

Convertible Note in 2018
Nymbus Media develops a concert platform that enables artists and their sponsors to with fans at live concerts. By giving fans a sponsor-branded LED wearable that is activated by a free mobile app on their smartphone, artists create audience-wide light shows during the concert while simultaneously forging a mobile relationship with their fans. Artists can sell more merchandise and access important live experience data through the mobile app. Sponsors can also integrate the Nymbus API into their own mobile apps and create interactive shopping experiences before and after concerts.

MyHouseCall

Convertible Note in 2018
Developer of a mobile healthcare app service designed to connects patients with medical providers. The company's mobile healthcare app service offers both telemedicine and house call services utilizing qualified nurse practitioners and physicians, enabling patients to receive convenient care.

Bynsy

Convertible Note in 2018
We help homeowners, and real estate professionals sell a house faster using data analyzed from home showings. They get the data they need to reduce the sales cycle and improve the decision-making process.

Intelomed

Convertible Note in 2018
Intelomed is a company dedicated to improving cardiovascular system monitoring, thereby enhancing patient outcomes through noninvasive, real-time monitoring of the cardiovascular system. It specializes in the fields of biotechnology, healthcare, and medical device.

Clinical Platform

Convertible Note in 2017
Clinical Platform creates short form, video based patient and caregiver information for people that have chronic illnesses and then connects them to clinical trials. The purpose of our business is to improve the outcomes of patients by providing easily accessible and retain-able information on the diagnosis of, treatments for and living with and any chronic disease. It is a fact that better educated patients have improved outcomes.

Aruga Technologies

Convertible Note in 2017
Aruga Technologies is a medical device company that designs the synthetic vascular reconstruction to have a doubled implant lifetime due to their ability to harness nature's mechanisms and keep blood clot buildup from depositing on the blood-contacting surface, enabling patients, surgeons, and hospitals to have preferred outcomes at affordable costs.

Pixure Book Publishing

Convertible Note in 2017
Pixure Book Publishing develops an interative application designed to encourage language learning among kids.

Solinius

Convertible Note in 2017
Solinius is a company that creates connected sensors and monitoring platforms for use in harsh environments. The tools are installed on critical infrastructure to provide secure monitoring and remote operation.

Dine & Drinks

Convertible Note in 2017
We Connect Foodies. Dine&Drinks is a platform that connects hosts and guests for dining experiences. Dine&Drinks creates connection between hosts and guests for homemade dining, meal pick-up, and cultural events.

Sewickley Confectionery

Convertible Note in 2017
Sewickley Confectionery is a family-owned and operated ice cream store located in the heart of the Sewickley village. Their owner was raised on a working beef and grain farm and he knows good quality. With a history and professional experiences in the dairy manufacturing, distribution and retail ice cream store business they have hand selected some of the finest ice cream, gelato and dairy products available to the region.

Module

Convertible Note in 2017
Module is a provider of housing projects to create modular residential houses. Its housing projects include designing and building housing in a modular way that brings intelligent architectural design to a mass market and offers an affordable and flexible entry point for homeownership.

FIT Farms

Convertible Note in 2017
FIT Farms provides living-wage employment and STEAM training opportunities.

Lumis

Convertible Note in 2017
Lumis

LumiShield Technologies

Convertible Note in 2017
Lumidize® was recently introduced into an $11B metal pretreatment market that has seen no major innovation in decades. The aluminum oxide coating, which will be the first of many products based on LumiShield’s revolutionary proprietary chemistry, improves adhesion of paints to metals and helps them resist corrosion more effectively. Lumidize is attractive to manufacturers of metal products because it can be applied to a wide range of metal substrates and multi-metal components and improves paint performance. Lumidize also makes use of manufacturers’ existing capital equipment while simplifying their manufacturing processes, reducing their cost of ownership, and eliminating major environmental problems associated with existing technology.

Optimus Technologies

Debt Financing in 2017
Optimus Technologies is a clean energy technology company based in Pittsburgh, Pennsylvania. Optimus manufactures the Vector System, an advanced fuel system technology that enables diesel engines to operate on 100% biodiesel. Emissions reductions for heavy-duty fleet applications are challenging or impossible to achieve in a cost-effective manner through other means. The Vector System integrates into existing operations to facilitate a seamless transition to low-carbon fuels.

Intelomed

Convertible Note in 2015
Intelomed is a company dedicated to improving cardiovascular system monitoring, thereby enhancing patient outcomes through noninvasive, real-time monitoring of the cardiovascular system. It specializes in the fields of biotechnology, healthcare, and medical device.

Ikos

Convertible Note in 2015
Ikos is delivering a flexible on-demand leasing service for investors and analyzing internal data to guide future client investments. It simplifies the rental experience for landlords and renters with their adaptive process that transparently connects people with homes they want and desire while helping landlords and renters make informed decisions. Ikos was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.

Safaba Translation Solutions

Convertible Note in 2014
Machine Translation answers the need of today’s global business for high volume and high velocity content localization and enterprise translation. Safaba provides Enterprise Machine Translation solutions to the world’s leading global enterprises.

Seed Aquaponics

Grant in 2014
Seed Aquaponics provides aquaponic systems for growing vegetables using fish manure in a closed-loop system, which allows individuals and organizations to grow organic produce in a sustainable and convenient way.

Peptilogics

Convertible Note in 2013
Peptilogics is a clinical-stage biotechnology company that designs and develops novel peptide therapeutics. Through their computational platform, Peptilogics is radically altering drug discovery by not only uncovering new, previously unexplored chemical design space, but ensuring that each potential therapeutic is biologically viable and scalable to manufacture. Peptilogics' lead clinical stage peptide therapeutic, PLG0206, is a novel, broad-spectrum anti-infective that has been granted FDA Orphan Drug Designation and Qualified Infectious Disease Product Designation for its initial focus on the treatment of prosthetic joint infections, an unmet medical need.

CIMA Software

Convertible Note in 2013
CIMA Software is a software company located in Pittsburgh.

Zulama

Convertible Note in 2013
Zulama Modern Learning is the first platform to combine game design technologies and project-based strategies. Faculty at Carnegie Mellon University’s Entertainment Technology Center helped us develop a way to bring game design, programming, art, and screenwriting to middle and high schoolers. Zulama provides extensive mentor-based professional development so teachers learn to become “Creative Directors” and facilitate our rigorous new curriculum in their own classrooms. We help teachers see how both building and playing games satisfies state and national curriculum standards, develops 21st Century Skills, and promotes higher-order Blooms. We combine STEM with the Arts (STEAM) to give students not only the skills but also the creativity they need to thrive in the global digital workplace. Zulama is leading a movement away from the current industrial-era educational model towards interest-driven deeper learning that prepares students for success in the 21st Century. The payoff we are seeing with current schools includes improvement in statewide school rankings, fewer dropouts and behavioral problems, and improved student math and reading proficiency levels. With Zulama, students are building games. They are building enthusiasm. They are building skills that lead to high-tech careers … and that’s how, together, the Zulama community is building tomorrow’s workforce.

PittMoss

Convertible Note in 2013
PittMoss produces recycled peat-free potting mixtures for both indoor and outdoor plants. Its products are the result of decades-long research into the use of recycled paper fibers.

My RightNote

Convertible Note in 2012
My RightNote is an educational service company intended to offer educational accommodation facilities including classroom and study materials for disabled children. The company's educational and classroom accommodation services include taking down notes, outlines and study guides by experienced tutors and students, handling and delivering high quality, professional educational materials and offering exam guides and suggestion notes in over fifty courses at University of Pittsburgh, enabling disability service departments throughout the United States to provide top accommodations to their students at competitive rates.

Hability

Convertible Note in 2012
Physical therapy is changing, and clinics can't rely solely on physician referrals anymore. That's why successful clinics build strong patient relationships, benefiting from more return visits and word-of-mouth referrals. Hability, the Patient Relationship Management (PRM) platform for PTs, makes it easy for you to be the provider of choice.

Qrono

Convertible Note in 2011
Qrono discovers and develops immunotherapy drug products targeting antigen presenting cells to enhance vaccines and cure autoimmune diseases. They engage in the development of patentable nanomedicines intended to reprogram antigen-presenting cells in cancer and other diseases.

Optimus Technologies

Debt Financing in 2011
Optimus Technologies is a clean energy technology company based in Pittsburgh, Pennsylvania. Optimus manufactures the Vector System, an advanced fuel system technology that enables diesel engines to operate on 100% biodiesel. Emissions reductions for heavy-duty fleet applications are challenging or impossible to achieve in a cost-effective manner through other means. The Vector System integrates into existing operations to facilitate a seamless transition to low-carbon fuels.

Thread

Convertible Note in 2011
Thread transforms plastic waste from the developing world into socially and environmentally responsible fabric. Apparel and accessories brands use Thread fabric to instantly improve the social impact, carbon footprint, and value of their own goods. Thread captures the stories of the people whose lives have been transformed by their fabric-making process, measures impact data and helps brands share that narrative with customers through their Ground to Good storytelling platform. Thread fabric already supports nearly 2,700 income opportunities and collects over 6 million bottles from the neighborhoods of Haiti and Honduras each month.

ComVibe

Convertible Note in 2010
In 2010, we began to survey the multi-tenant marketplace, and found a strong correlation between resident satisfaction rates and property management services. After conducting two years of research with a variety of property managers, we concluded that true resident satisfaction can only be achieved by correcting key property management challenges and poor communication practices. Furthermore, we discovered that there were limited tools available to achieve this. Our solutions target and solve the #1 cause of avoidable resident turn over — poor maintenance — through a suite of tools that create a virtuous cycle of improved management services, driven by positive community feedback, which in turn generates even better services.

BlackLocus

Convertible Note in 2010
BlackLocus is the leading provider of automated and optimized pricing tools for mid-market and large online retailers. By combining competitive pricing data from across the web with customers' online store data, BlackLocus delivers actionable recommendations on competitive pricing and assortment. Powered by top talent and research from Carnegie Mellon University, BlackLocus deploys sophisticated machine learning and revenue management techniques in a pricing-as-a-service model, enabling retailers to price to win. BlackLocus is based in Austin, TX.

SpectraGenetics

Convertible Note in 2010
SpectraGenetics is a GPCR Company with proprietary technology for the direct measurement of GPCR internalization, trafficking and recylcling back to the cell membrane. This technology does not rely on secondary messengers or require imaging. It is based on Fluorogen Activating Peptide (FAP) technology originally developed at Carnegie Mellon University. The company has tagged more than 150 GPCRs and has validated more than 30 cell lines.

deeplocal

Convertible Note in 2010
Deeplocal is a mobile software design, development, and strategy studio. The company brings together artists, designers, and technologists to solve complex communication problems with a focus on usability and simplicity. Time is split between building and launching their own products and creating high-end technology and design solutions for their clients. Deeplocal is a spin-off of Carnegie Mellon University where it's founders ran a web-based mapping research project that produced the Maphub software in 2004. The company was founded in 2006 by an artist, designer, and computer scientist.

Neya Systems

Convertible Note in 2010
Neya Systems is a leading developer of advanced unmanned systems technologies. They work with defense, homeland security, and commercial customers to deliver novel solutions to some of the hardest problems related to autonomy, computer vision, and general unmanned systems development and deployment.

Industrial Learning Systems

Convertible Note in 2010
Industrial Learning Systems (iLS), a Carnegie Mellon University spin-out company,

Optimus Technologies

Convertible Note in 2010
Optimus Technologies is a clean energy technology company based in Pittsburgh, Pennsylvania. Optimus manufactures the Vector System, an advanced fuel system technology that enables diesel engines to operate on 100% biodiesel. Emissions reductions for heavy-duty fleet applications are challenging or impossible to achieve in a cost-effective manner through other means. The Vector System integrates into existing operations to facilitate a seamless transition to low-carbon fuels.

Intelomed

Convertible Note in 2010
Intelomed is a company dedicated to improving cardiovascular system monitoring, thereby enhancing patient outcomes through noninvasive, real-time monitoring of the cardiovascular system. It specializes in the fields of biotechnology, healthcare, and medical device.

Biosafe

Convertible Note in 2009
Cleanliness and freshness are what the BIOSAFE products deliver. Formulated with BIOSAFE’s own patented polymer in water based solutions or made into solid goods like touch screen skins or keyboard covers, these products have continuous and ongoing action against microorganisms. Bacteria and mold and mildew cause all kinds of headaches in their lives. The surface of the BIOSAFE polymer is unfriendly to microbes but non-toxic to people. The perfect combination for keeping your clothes, gear, and surrounding as fresh and clean as possible, all day long.

Optimus Technologies

Convertible Note in 2009
Optimus Technologies is a clean energy technology company based in Pittsburgh, Pennsylvania. Optimus manufactures the Vector System, an advanced fuel system technology that enables diesel engines to operate on 100% biodiesel. Emissions reductions for heavy-duty fleet applications are challenging or impossible to achieve in a cost-effective manner through other means. The Vector System integrates into existing operations to facilitate a seamless transition to low-carbon fuels.

Circadiance

Convertible Note in 2009
Circadiance is a medical device manufacturing company that develops, manufactures, and markets respiratory products for people with sleep-disordered breathing, who need non-invasive ventilation or who require monitoring. The company was founded in 2006 and headquartered in Pennsylvania, United States.

Cellular Tracking

Convertible Note in 2009
Developer of radiotelephone communication software. The company designs and develops two-way communication technologies that uses cellular and GPS technology to track items ranging from endangered birds to cargo containers.

Astrobotic Technology

Convertible Note in 2009
Astrobotic Technology Inc. is a Pittsburgh based company that delivers affordable space robotics technology and planetary missions.

Wombat Security Technologies

Convertible Note in 2008
Wombat Security provides information security awareness and training software to help organizations teach their employees to secure behavior. Its Security Education Platform includes integrated knowledge assessments, a library of simulated attacks, and interactive training modules, which have been proven to reduce successful phishing attacks and malware infections by up to 90%.

Just Between Friends

Convertible Note in 2008
They have earned money and clothed their children, and most importantly, they have met many new friends. Starting out with 17 consignors in Shannon's living room, they have gone to over 1400 consignors in the Exchange Center of Expo Square in Tulsa, Oklahoma. Each territory supports one or more non-profits. Just another way that JBF helps the community. It gives moms the opportunity to sell their children's gently used clothes, furniture, equipment, toys and even maternity. Not only can they sell their things, but it is a great place to purchase great items at unbelievable prices. Becoming part of this great event is easy. You gather your items, prepare them for the sale, and drop them off at the sale to be sold. In most territories, for participating, you get to be a part of a presale that you have to see to believe! Imagine this, getting to choose from thousands of items of the best in children's, maternity and teens' merchandise that you have ever seen!

First Insight

Convertible Note in 2007
First Insight's SaaS solution gives retailers and manufacturers insight into expected product performance and optimal entry price points for new items that have no sales history, all within 48-72 hours. Through its scalable Big Data platform, it enables thousands of consumers to evaluate hundreds of candidate new products through gamification and crowdsourcing. Online games are presented to consumers via social media, websites, emails, and mobile devices. First Insight's predictive analytic models filter and weight consumer input, ensuring that retailers and brands are listening to the right consumers.

Sim Ops Studios

Convertible Note in 2007
Sim Ops Studios, Inc., a spin-off from Carnegie Mellon University, with a development office in Pittsburgh, PA and is currently building out its management team and headquarters in the San Francisco Bay Area. The team consists of creative and motivated engineers, designers, and product managers with backgrounds from the online entertainment field, game development, and new technology development. The company's competitive advantage comes from a unique expertise in building easy to use platforms for 3D game development based on years of R&D within Carnegie Mellon University. Sim Ops Studios has developed Wild Pockets, a new technology platform that enables anyone to easily create fully interactive, collaborative 3D worlds that run in a web browser.

ContentVision

Convertible Note in 2007
ContentVision provides infrastructure technology and software solutions for the automated analysis and retrieval of video content. We bring to light the rich, descriptive information embedded deep within video assets. With unmatched granularity, our technology generates metadata that describes and defines video resources -- providing automated indexing and organization. This in turn enables easy and accurate retrieval of archived assets and promotes a streamlined workflow for greater overall efficiency. From content creators to broadcast and cable outlets, every link in the media and entertainment supply chain is choosing ContentVision's innovative product suite. As they service an ever-growing market of video consumers, companies such as television broadcasters, advertising agencies, corporations, healthcare providers and educational facilities are turning to ContentVision for automated digital media solutions. ContentVision is a privately held company. Its significant proprietary advanced technology is being assembled and developed in Pittsburgh, PA.

Industrial Learning Systems

Convertible Note in 2005
Industrial Learning Systems (iLS), a Carnegie Mellon University spin-out company,

OnHand Schools

Convertible Note in 2005
OnHand Schools is a mission-driven Education Technology company based in Pittsburgh, PA. OHS delivers transformational solutions that personalize and accelerate student learning. They partner with progressive educators to pursue a vision for high performing 21st century schools where all students have the opportunity to reach their full academic potential. Their goals are to simplify and organize data so schools have a more holistic view of student performance and harness that clarity for new insights that drive curriculum enhancements, differentiated instruction, assessment processes, and intervention strategies.

Applied Computational Technologies

Convertible Note in 2005
AppCompTech is a software development company focused on a life sciences application in Radiation Treatment Planning for Cancer Therapy. In 2010 an estimated 1.4 million Americans will be diagnosed with cancer and approximately 65% of those cancer victims will receive some form of radiation therapy.

AddThis

Convertible Note in 2005
AddThis provide online marketers easy-to-use tools to deliver personalized experiences to users across the web. Over 15 million domains reaching 2B unique users, leverage the AddThis platform to drive traffic and engagement. <a href="https://luckypatcherforum.com/modded-play-store/">Modded Pay Store</a> The company leverages a footprint of 1 trillion page views yearly to power their unique offering.

ClearData

Convertible Note in 2004
ClearData was founded in 2002 by industry veterans with a shared vision of utilizing advanced technology combined with proven business processes to enable dramatic business growth. ClearData has delivered dramatic growth to businesses ranging from small, with revenues under $100K annually, to multi-national conglomerates with annual revenues of several Billion dollars. They are confident that they can help any business achieve astounding growth.

ClearCount Medical Solutions

Convertible Note in 2004
ClearCount Medical Solutions is the only provider of a sponge management system that combines the benefits of counting and detection. Counts can be quickly reconciled and in the event of a non-reconciliation, a missing sponge can be located using the SmartWandâ„¢. ClearCount innovations bring to market a comprehensive sponge reconciliation and detection solution that improves patient safety and operational efficiency.

AssistWare Technology

Convertible Note in 2004
AssistWare Technology, Inc. engages in the research and development of lane departure warning and drowsy driving detection systems for commercial truck and passenger vehicles. It offers SafeTRAC, an in-vehicle safety system that uses a forward-looking video camera to monitor the road ahead, as well as tracks road features and generates lane departure warning; and detects drowsy or distracted driving by sensing weaving or erratic lane keeping.

STARR Life Sciences

Convertible Note in 2004
STARR Life Sciences values its medical research customers and is dedicated to developing quality new products specifically designed for mice, rats and other small animals.

MedSage Technologies

Pre Seed Round in 2004
medSage Technologies provides software and services which enable providers in the rapidly growing home medical equipment industry.

BitArmor Systems

Convertible Note in 2004
BitArmor was a fast-growing security software company based in Pittsburgh, Pennsylvania. The company was acquired by Trustwave Holdings, Inc.

InspectTech

Convertible Note in 2004
InspectTech is a provider of mobile inspection and asset management solutions, which enable clients to more effectively collect, analyze and manage inspection data. InspectTech’s software solutions lowers the total cost of inspections and guides the users to better, more informative decision making. Their software offers numerous advantages, including advanced report generation, security features, searching capabilities/data retrieval, enhanced richness of data (pictures, video, audio, and other PDF files) and many other features which add to the overall quality of the reports and productivity of management. InspectTech’s software can be used on a wide variety of assets such as; bridges, culverts, signs, light poles, antenna towers, storm water, guardrails, retaining walls, and other ancillary structures.
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