The Innovation Institute is proud to offer a crowdsourced direct investment platform for individuals seeking capital to launch new start-ups in the healthcare space. RedCrow is based in the San Francisco Bay area. The RedCrow platform was initially launched by Brian A. Smith, a leader in the equity crowdfunding space and a former wealth manager at Morgan Stanley. Partnered with Brian in the RedCrow venture is Jerry Harrison, who was most widely known for his work with the musical group “Talking Heads” but also has experience with the crowdsourcing space having launched garageband.com in the 90s. The Innovation Institute also has a small equity position in RedCrow and shares in the upside for those successful capital raises.
RedCrow in partnership with the Innovation Institute, provides a portal for companies seeking funding. RedCrow’s team which is comprised of experts in the medical, business, marketing and financial spaces will vet companies seeking investment and work with them on their pitches. The RedCrow platform meets a need for early stage start-up companies seeking capital and fills the gap between a nascent idea and fully operational company. The platform will also allow Member System’s physicians and employees the opportunity to invest in their co-workers or peers’ products and start-ups. The typical capital raise is between one and three million dollars.
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The Innovation Institute is working with physicians across the St. Joseph Health system to help them develop and commercialize their ideas for new products. “We launched the rollout in early November and already have over 40 ideas at various stages of evaluation,” said Joe Randolph, president and CEO of The Innovation Institute. One recent success story is a device developed by Richard Dauben, MD, a neurologist, to help patients with lower back pain.Read more…