Exo Dynamics just secured $15,000 in seed capital and plans to use it to move into a new home in University of Michigan's
North Campus Research Complex.
Exo Dynamics is leveraging the PhD work of a University of Michigan student to developing an electro-mechanical back brace for medical professionals. The back brace focuses on preventing injury and reducing pain without decreasing mobility. The team of five people is developing a second prototype and hopes to commercialize the device in early 2014.
The 1-year-old start-up scored the $15,000 from the
Michigan Business Challenge which is sponsored through the university's Ross School of Business. The company won the $10,000 Pryor-Hale Runner up award and the $5,000 Williamson Award for Outstanding Business & Engineering Team.
"It was a fantastic experience," says Maren Bean, chief medical officer and co-founder of Exo Dynamics. "We got to meet a lot of great student entrepreneurs and some local entrepreneurs and investors. They gave us a lot of feedback on our business plan."
Source: Maren Bean, chief medical officer and co-founder of Exo Dynamics
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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