TEDCO, Maryland’s economic engine for technology companies, announced a recent $250,000 investment in NasaClip, a woman- and minority-led startup which created a new device to assist in a painless, hands-free method for stopping nosebleeds. This investment came from TEDCO’s State Small Business Credit Initiative (SSBCI).
“Oftentimes, nosebleeds are non-life threatening, but patients will still go to the emergency department for them,” said Elizabeth Clayborne, CEO and founder of NasaClip. “Unfortunately, the care for nosebleeds can be invasive, painful, and costly; that’s why we created NasaClip. Using NasaClip, patients can treat themselves while remaining in the comfort of their own home. TEDCO’s financial investment will help advance this much needed medical device. ”
NasaClip, based in Baltimore, Md., is a startup focused on providing patients with painless, hands-free treatment for nosebleeds. The NasaClip device provides constant uninterrupted external nasal pressure combined with intranasal sponges that can be medicated to stop bleeding fast. The kid-friendly and FDA registered device provides a cost-effective, timely, easy-to-use alternative to emergency room visits and are designed with portability in mind. NasaClip helps doctors, nurses, coaches, trainers, or anyone anywhere stop nosebleeds fast.
“NasaClip is exactly the kind of company we envisioned for SSBCI funding,” said TEDCO CEO Troy LeMaile-Stovall. “Led by a true innovator who saw an unmet need, NasaClip is an important addition to TEDCO’s portfolio of companies that have great potential but are underrepresented in our innovation ecosystem. We are glad to support NasaClip on its growth trajectory, and we hope Dr. Clayborne’s work will inspire more entrepreneurs like her to seek out TEDCO.”
“TEDCO is proud to be investing in innovative products, like NasaClip,” explained Jean-Luc Park, TEDCO’s senior director of Social Impact Funds. “Dr. Clayborne saw a gap in patient care and took initiative, designing a device that could help ease the discomfort and expenses that come with traditional treatment of a nosebleed, but also relieve the burden and pressure on emergency departments. We are excited to be a part of the business’ journey.”
TEDCO’s SSBCI is divided into four programs: the Venture Equity Fund, the Venture Capital Limited Partnership Equity program, Seed Funds Equity program, and the Social Impact Funds. Each program provides businesses and entrepreneurs with investment and support. For more information on TEDCO’s funding opportunities, visit https://www.tedcomd.com/funding.
About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
