757 Angels and ivWatch Reach Entrepreneurs at Tom Tom Fest
Monday, April 16, 2018
757 Angels and ivWatch recently collaborated during an entrepreneurship session at Tom Tom Founders Festival, a week-long celebration of innovators, visionaries and artists who shape small cities. Part pitch competition, part case study – the organizations co-presented and provided insight into building and growing successful companies and how to foster the next generation of innovators in tech industries.
The session “An Empirical View of the Art and Science of Entrepreneurship and Investment,” was hosted by representatives from the Center for Innovative Technology’s (CIT) GAP Fund on Thursday, April 12. The Hampton Roads entrepreneur community was represented by Monique Adams, executive director of 757 Angels, a group whose membership consists of business and community leaders and Gary Warren, president and CEO of ivWatch, a medical device manufacturer and biosensor technology company. Both shared perspectives from investor and business leader sides of the table.
When asked by session panel member Jayson Rieger, a principle of the PBM Capital Group, about 757 Angels satisfaction with their investment in ivWatch, Adams responded, “ivWatch had incredible momentum early on, and they’ve sustained their competitive advantage. We are extremely pleased with our relationship.”
Virginia Secretary of Commerce and Trade, Esther Lee, opened the event with an announcement of the Virginia Founders Fund, a new seed-stage fund that increases access to venture capital in Virginia. In her comments, she emphasized the ability for software, hardware, life science, cleantech, and technology-enabled services companies to generate economic returns for the Commonwealth.
During his time on stage, Warren touched on the growth and scaling of ivWatch. “Each year we put together an update of the business plan, and we’ve been successful in the execution of our goals. A focus this year is bringing more manufacturing in-house to control quality, cost and bring more high-tech jobs to the area.”
The event brought together regional angel investor and funding groups, including 757 Angels, CIT Gap Fund, Charlottesville Angel Network, and The Launch Place, who each brought one of their most exceptional startups or emerging growth companies they’ve supported. The event focused on the dynamics between the groups and how individual successes support the statewide initiatives outlined by Secretary Lee.