IP2Biz “discovery” and investment enables launch of wound care and 3-D solar cell market ready technologies
IP2Biz, an innovation capitalist company that discovers and invests in promising technologies to help advance products toward full-scale commercialization, has propelled two new technologies for market ready availability, the company announced today.
The first solution, Wound Zoom, is a hand-held digital camera system that captures an image of a wound and automatically provides critical dimensions without contact. Designed for use in hospitals, nursing homes and for home health professionals, Wound Zoom is a portable and easy-to-use solution that tracks the progression of wounds and, as a result, helps health care providers improve outcomes for elderly patients, diabetics and others suffering from wounds like bed sores and pressure ulcers. The technology also significantly lowers the cost of treatment.
Georgia Institute of Technology (Georgia Tech) Professor Stephen Sprigle invented the Wound Zoom technology. After researching the market demand, IP2Biz identified likely industry buyers for the technology and then sponsored research with Prof. Sprigle and Georgia Tech. IP2Biz also secured all the rights to the invention for the purpose of selling the technology. IP2Biz invested in additional system design, packaging and testing and sold the solution to Colorado based start-up, Wound Zoom Inc.
“Due to an aging population, wound care costs in the U.S. alone, are expected to exceed $22 billion a year,” said John Bacon, founder and chairman of IP2Biz. “We were excited from the onset to work with Professor Sprigle and help move this important innovation from the lab to the marketplace where it can reduce healthcare costs and improve patient outcomes.”
As part of its technology scouting process, known as IPScout, IP2Biz also uncovered a ground-breaking three-dimensional solar cell technology that will be useful in a variety of applications ranging from powering satellites to cell phones.
Jud Ready, a research scientist at the Georgia Tech Research Institute, outlined his idea for the technology as a way to increase power generated from traditional planar cells. IP2Biz funded additional research by Ready and also managed patent filings. Bloo Solar of California licensed the technology and recently raised its second round of capital with plans for producing the solar cells by 2013.
“Ninety percent of university research never sees the light of day,” Bacon said. “We use our process to search for the ideas that are going to have long-term impact around the world and move them forward for our corporate clients like Bloo Solar and Wound Zoom Inc.”
The improved efficiency of 3-D cells will benefit a variety of markets and industries, according to John Fisher, vice president of finance at Bloo Solar.
“The 3-D cell has unlimited potential and is more practical since more light gathering power is packed into a small footprint,” Fisher said. “IP2Biz has brought us an exciting and impactful technology that we look forward to bringing to market in the coming months.”
Wound Zoom was launched at trade show this fall and the solution is already helping healthcare providers elevate patient outcomes.
“Healthcare professionals need and want better technology to help improve efficiencies and deliver better care to patients,” said Thomas J. Whelan, president of Wound Zoom. “With the Wound Zoom, we are able to help our customers meet both of these critical objectives and we fully expect the solution to transform this growing sector in the healthcare industry that serves elderly and diabetic patients.”