2023 Q4 update: settling in
A wise friend recently asked, delicately, whether the shiny excitement of a new venture had worn off perhaps exposing a substrate of drudgery and doubt. On the contrary, after two years of rapid and continuous progress, a growing team and network provide a new kind of sustainable energy.
FINANCIAL
Early investors demonstrated their confidence in our mission and capability by funding a $150,000 SAFE round earmarked for legal and regulatory consulting services.
R&D continues with non-dilutive funding from the Maryland Industrial Partnerships (MIPS) $90,000 Phase 1 grant.
REGULATORY & IP
Regulatory consultant Mary Wentorf of Springboard Medical Device Consulting LLC was engaged to guide FDA clearance strategy and communications.
Intellectual property has been substantially strengthened with four patent filings in October and another big one in the works for a major connector innovation.
BUSINESS DEVELOPMENT
Attending The Medtech Conference in Anaheim as a member of the Maryland Commerce delegation offered connections with industry experts at all stages of development and scale.
Competing with medtech ventures from around the world, Djit was selected to join the Creative Destruction Lab (CDL) business accelerator in Vancouver, BC offering rich mentor relationships, market research support, and access to investor networks.
Relocating Djit’s main office to The LaunchPort, a medtech venture center in Baltimore, connects Djit with a community of innovators and funding opportunities.
Over the next few months, we will stay focused on de-risking a Seed Round planned for next year. Milestones in R&D, regulatory pathway, market validation, and hardening the IP portfolio will demonstrate a solid business case for investment.
ASK: Non-dilutive funding to accelerate R&D toward animal testing and manufacturing is a hot priority. If you have contacts at TEDCO or other funded research programs please tell them about us! We believe Djit is an ideal candidate for economic development initiatives and can provide ample evidence to support that assertion.