LIMBER Prosthetics & Orthotics took the top prize with about $200,000 in funding at the San Diego Angel Conference (SDAC). The program, which works with accredited angel investors and engages promising early-stage companies with funding for potentially disruptive solutions, is run through the University of San Diego Knauss School of Business. The amount raised by LIMBER could increase as investors may elect to invest in the startups as individual investors. Historically, investors have exceeded both the investment amount and number of companies funded.
LIMBER uses a systems-engineering approach to integrate imaging, modeling, simulation, testing, and additive manufacturing to create affordable, unibody prosthetic devices that can be tailored specifically to each user’s needs.
“What an honor to present alongside the other finalists today and be selected to receive funding from the SDAC fund,” said CEO Joshua Pelz, PhD. “This seed funding will enable us to move our product development forward. SDAC also provided us with invaluable mentoring and lessons on how to effectively communicate with angel investors, complete the due diligence process, and build a strong network of mentors, investors, and peers.”
SDAC V, the fifth year of the program, received 106 applications from early-stage companies for the 2022/2023 season. Accredited angel investors nationwide invested anywhere from $7,000 to $40,000 to form a collective SDAC V fund. The angel investors evaluated the startups over three months to determine those most likely to succeed and make it to the final pitch for funding.
“Securing an angel investment doesn’t require affluence, education, or wealth. It requires a smart solution to a real-world problem and an entrepreneur with tenacity and a tolerance for risk,” said Mysty Rusk, SDAC founder.