OVFNewsletter

What is coming up...

*|MC:SUBJECT|*
View this email in your browser
November 2017

Ryan Dennis Linear Science

by Debbie Blossom

Growing up in a farm family in Macomb, Oklahoma, Dr. Ryan Dennis might not have envisioned a successful future in medicine, innovation and entrepreneurship.
Yet today, that is where Dennis has landed – as a Norman-based physician and founder and chief executive office of a company that has developed a medical device that keeps hospital patients from becoming accidently disconnected from their IV tubing.
Linear Health Sciences was founded in the spring of 2015, and his Orchid valve was created after Dennis said he repeatedly saw his hospital patients’ IV lines become disconnected, often from something as simple as a patient getting up during the night to go to the bathroom.
Patients then had to have those IV lines reinserted, which is painful, time consuming and costly for the patient and the hospital.
To Dennis, there had to be a better way.
“It has always been a dream of mine to find a problem in medicine and then implement a solution that made economic sense for all,” he said. “This is rooted in a belief based on experience that financial incentive drives the fastest development and would serve as my best chance to see such an idea adopted in the same place I practice.”
That brainstorming, with an engineer and an infusion disposables industry insider, created the valve which Dennis believes is set to transform how patients are connected to treatments.
“The idea for the orchid safety release valve was inspired by valves in the energy industry such as those on gas pumps,” he said. “I happened to have an acquaintance who helped design the breakaway valves for natural gas vehicle pumps. He was starved for design engineering in his corporate job and was excited to join startup life.”
That pairing led to meeting another Linear founder, Dan Clark.
“Dan has an engineering and business background and had a high ranking position in the medical device market working directly with the type of companies who would be our potential acquirers. His role also included bringing new technologies to market so he was a perfect choice for rounding out the founding team.”
With creating new technology, securing financing is crucial to moving forward.
 
 
“We used our Oklahoma network for funding,” Dennis said, which included working with Crowe Dunlevy for intellectual property development.
But his team also discovered i2E, a nonprofit organization that advises and supports many of Oklahoma’s technology-based startups. “When I found out about i2E I requested a qualified introduction to Scott Meacham for a pitch, and we were welcomed with open arms from day one at i2E and just closed our second round of funding with them as lead investor,” he said.
“I cannot think of a better investment partner. They have given us room to learn and grow but certainly ensured investors interests were always protected along the way. I wouldn’t have changed a thing about our funding path to this point.”
Linear has also benefitted from support from the state-sponsored Oklahoma Center for the Advancement of Science and Technology.
And he also credits another Oklahoma institution for his drive and ability to look beyond existing conditions. After deciding to become a doctor at quite the young age, Dennis said he was advised that the Oklahoma School of Science and Mathematics was where he needed to spend those formative high school years.
“OSSM taught me very early on to question the status quo, and that fundamental change in perspective on the world makes every day an inspiration for invention,” he said. “OSSM even directly supported my fledgling entrepreneurial spirit by partnering with a local investment firm to offer a venture scholarship based on creation of a novel technology and business plan to commercialize it.  I still remember how much I enjoyed that application process and will always be grateful for the confidence it gave me when I won.”
Dennis later graduated with honors from the University of Chicago and received his medical degree from the College of Medicine at the University of Oklahoma Health Sciences Center.
Oklahoma has fueled his entrepreneurial spirit, he said, and that support is expected to continue as the Orchid valve goes through the process for FDA approval.
The state’s entrepreneurs should take note.
“My advice is to walk through life daily asking the question why . . . why does this exist, what problem is it solving, and could there be a better way,” Dennis said. “You don’t have to immediately know what that better way is to be inspired to create change. I would also caution about a very common misstep I see that comes from doing this process backwards. People will say, hey, I have this idea … that conversation typically ends with realizing they have a great solution for a really small problem nobody is willing to pay to solve,” he added.
“The trick to entrepreneurial success is finding a problem worth solving, that people will pay you to solve, and only then finding a solution that fits what the customer wants.”
Share
Tweet
Forward

Further Reading

Enjoyed this month's Newsletter? There's more where that came from. Here's what's hot in the community right now:

Augmented reality app wins wild-card round in StartUp Series
© Copyright 2017 TulsaWorld.com, 315 S. Boulder Ave. Tulsa, OK

 

Tulsa startup provides software to match people with what they’re seeking By Scott Meacham Copyright © 2017, The Oklahoma Publishing Co.

Thanks for Subscribing

OVF wants to extend a hearty 'thank you' to all of our wonderful readers. You're an important part of the relationships that OVF is building.  If you're not a regular just yet visit the OVF website for more information about our organization.
Register for November Speaker Series

405-626-2093

Calendar

Speaker Series Lunch
November 8th
PHFCC

OVF After Hours
November 16th
TBA

Speaker Series Lunch
December 13th
PHFCC

Facebook
Twitter
LinkedIn
Specialized Insurance Programs for Specialized Industries.
Learn More
Register Now
Share
Forward

Short Presentation 
 

Allison Conti

Founder/CEO
Watkins-Conti Products, Inc.

Allison Conti was raised in an entrepreneurial environment where she witnessed the formation and creation of sustainable businesses. The industries ranged from oil & gas exploration and development to retail, cattle ranching and commercial real estate. Allison began her professional career in print media marketing and advertising. She then transitioned to a successful career in the radio and television industry. Allison also owned and managed a small business in the construction trades. She has experience in many facets of business management.
 
In 2015, Allison conceived a solution for an issue that affects over 498 million women, worldwide. The passion and drive for this venture is based on personal experience. She designed, patented, engineered and manufactured a solution that is entering the FDA approval process. Allison has secured seed funding to create a quality management system, a contract manufacturing facility, conduct a feasibility study validating efficacy, and employ some of the top industry leaders in the Unites States.  Today, Allison develops products to address issues facing women across the globe. Allison is dedicated to the innovation and development of affordable, effective solutions for common life-altering difficulties faced in today’s environment.
 
Share
Tweet
Forward

OVF After Hours Presentation


RaShaun Robinson
BillyGoat Ice Cream


November 16th at Water's Edge Winery
 

 

Billy Goat Ice Cream Co. is a start-up ice cream manufacturer located in Stillwater, Oklahoma that uses goat’s milk instead of cow’s milk to create a succulent experience that’s perfectly suited for those with a lactose sensitivity and yumminess affinity.  By using all-natural ingredients and supporting our local farmers, we’ve created a dessert that’s good for the body, the belly, and the planet. As entrepreneur majors at Oklahoma State University, we launched our frozen endeavor with a solid business plan and a singular objective: make the best tasting, most nutritious ice cream possible while supporting the local agriculture industry. In the process of our grandiose dream, something rather extraordinary happened. Not only were we changing the definition of “dessert” by making it a healthy, yet delicious snack – we were changing our lives. Being the creators of dessert had actually created in us an even greater passion to live a healthy, active lifestyle. And we are passionate about creating that same lifestyle for you.
Share
Tweet
Forward
Register to Attend
Copyright © *|CURRENT_YEAR|* *|LIST:COMPANY|*, All rights reserved.
*|IFNOT:ARCHIVE_PAGE|* *|LIST:DESCRIPTION|*

Our mailing address is:
*|HTML:LIST_ADDRESS_HTML|* *|END:IF|*

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

*|IF:REWARDS|* *|HTML:REWARDS|* *|END:IF|*

Oklahoma Venture Forum is a non-profit organization.  P.O. Box 1701, Oklahoma City, Oklahoma 73101

Copyright © 2015 Oklahoma Venture Forum. All rights reserved.

 

Powered by Wild Apricot Membership Software