Gilbert Sun News; August 2015 - Business

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Business

August 2015

www.GilbertSunNews.com

Two startups win $250K grants from Arizona Commerce Authority BY KEN ABRAMCZYK

Two Gilbert software companies were among six Arizona startups that received $250,000 grants to get their companies off the ground. CampusLogic, a company that creates software to assist with financial aid for higher education, and eVisit, a maker of telehealth software for online treatment, billing and patient analytics for providers, received the grants from the Arizona Commerce Authority in the Arizona Innovation Challenge. These recipients represent earlystage Arizona companies that are creating innovative technological solutions with the potential for significant economic impact, according to the organization. Judges evaluated 138 applications from companies in Arizona, California, Massachusetts, Texas and Wisconsin for the spring 2015 AIC round. Each company was assessed on technology potential, marketing strategy, quality of management team and economic impact. The companies represent highvalue industry sectors that include IT software, IT hardware, bio and life sciences, cleantech/renewable

energy, advanced materials, advanced manufacturing, aerospace and defense. In June, 10 finalists were named in this round from which the winners were chosen. Sandra Watson, president and CEO of Arizona Commerce Authority, congratulated the winners. “As they commercialize their technology, these innovative companies will continue to create high-quality jobs that have a positive economic impact, and we’re thrilled to support them in that journey,” Watson said. Including the most recent spring 2015 recipients, the ACA has awarded 50 AIC grants to Arizona’s entrepreneurs to help them accelerate their businesses and advance technologies. Bret Larsen, CEO and co-founder of eVisit, said his company creates two-way video between doctor and patient. The telemedicine software enables patients who have colds, flu or allergies, or other less serious illnesses, to “visit” doctors through video sessions. “The patients love it for the convenience,” Larsen said. “They don’t

have to make a 10- or 45-minute drive to the doctor’s office.” With eVisit, relationships between doctors and patients are maintained. Larsen said other telemedicine software connects patients with doctors they do not know. “Our goal is to maintain that (doctor-patient) relationship,” Larsen said. Larsen said eVisit also is HIPAA compliant. “It exceeds the security baseline,” Larsen said, in terms of meeting security and privacy concerns of HIPAA. Larsen said other common video software applications do not meet HIPAA guidelines. Larsen formed the company in September 2014 with Dr. Glen McCracken, a former emergency room doctor who serves as president, and Miles Romney, chief technology officer. Larsen began working full time on eVisit in November and the company started earning revenue in March. “The grant will be used to accelerate our growth through our hiring plans and what we will need to do to scale effectively,” Larsen said. The funds will help the company add staff to assist with customer service.

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Larsen said he is excited about working with the Arizona Commerce Authority and receiving the grant. “They are doing so much to help young fledgling companies. We’re excited about the grant and appreciative to them.” CampusLogic creates “smart software” that improves the financial aid process and experience for students, staff and school. “Our goal is to make financial aid simple and efficient for everyone involved, whether we are delivering a student self-service platform for FAFSA verification, reducing overborrowing through dynamic, digital award letters or alleviating the headache of reconciliation,” according to the company’s website. It brings more than 75 years combined experience as directors of financial aid, compliance officers, quality assurance specialists, financial aid advisers and analysts. Company officials could not be reached for comment.

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