IBJNews

Indy loses promising health startup

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis would probably like to have this one back.

LabDoor, which formed here in the spring, moved last month to San Francisco after it was picked as part of the latest class of startups to be housed in the Rock Health seed accelerator for digital health companies.

LabDoor soon will launch an iPhone app that pulls from clinical trials and independent experts to immediately assign an A-F grade for vitamins and over-the-counter medicines. The grade, based on safety, efficacy and price information, is generated by scanning the label on a box or jar in the pharmacy aisle.

As part of its acceptance by Rock Health, LabDoor will receive $100,000 in startup funding from a group of venture capitslists, which include Silicon Valley behemoth Kleiner Perkins Caufield & Byers.

Perhaps even more importantly, Rock Health works with a constellation of other health companies and venture capitalists, including Kaiser, The Mayo Clinic, Mohr Davidow Ventures, Aberdare Ventures, General Electric Corp., Genentech, United Healthcare, the University of California at San Francisco and Harvard Medical School.

Those connections will be hugely helpful as LabDoor tries to bring its product to consumers, said Tercio “T.J.” Junker, the firm's chief operating officer.

The LabDoor team now consists of just four principals: CEO Neil Thanedar, Chief Technology Officer Helton Souza, Chief Creative Officer Rafael Ferreira and Junker.

Members of the LabDoor management team said it was a tough decision to leave Indianapolis, but that the opportunity in San Francisco was too good to pass up.

“The Indy startup scene is definitely on the rise, but is years away from being a true startup hub,” Thanedar said in an interview published Nov. 1 on nibletz.com. “Most startup cities grow in a predictable way: Startups form organically, a few hit big financial exits, creating angel investors who support the next generation of startups. We’ve seen the exits (IPOs for Angie’s List and ExactTarget). The next set of startups are ready to grow, they just need the early capital to succeed.”

 

ADVERTISEMENT

  • Dreamapolis Accelerator hurry up
    Indianapolis is a hub for entrepreneurship and growing still everyday. I wish LabDoor the best, but they are still one of many promising start-ups that have left to find investment elsewhere. The question should be...how many more are we willing to lose.
  • no hard feelings
    I've heard of them. I don't think he meant it in a bad way. The fact that Indy is not Silicon Valley doesn't mean that Indy is bad or not getting better. My guess is that money didn’t play a key role in their move (you don't move to SF for $100K), but the fact that it would be harder for them to recruit highly skilled people if they stayed. That doesn't mean they might not consider a move back once they are more established (i.e. have easier time attracting talent) and start looking to lower cost. Now, I’m not sure this is a “blow” to Indy. They are a small start-up with somewhat limited potential (from what I gathered about their app idea).
  • What. The. What?
    For ghe record, I like Neil but I'm not sure what his comments are rooted in. "Indy is year's away from being a true startup hub?" "Lack of early capital?". I know for a fact that Gravity Ventures invited them to pitch - and they told us that they didn't need to raise money. I also know that Neil came to Indy from Michigan, built his team here, and launched his company here. Something must be working. I'm all about following the opportunity and I wish Labdoor the best but, like Chris indicated in his comment, their departure is no reflection of the vibrancy of the Indy startup scene. Kristian Andersen Kristian.vc Indymade.com
  • Who did they talk to?
    I wonder who these guys talked to? Are they saying they were turned down by anyone here? I've not heard of them and don't know of anyone in the Angel community that has? An interesting article might be to examine how many companies are leaving because they find greener funding pastures elsewhere and point out who turned them down & perhaps compare it to the number that are actually getting started. It's a disappointing spin on this story to once again put the blame on Indy as if we are not world class in some respect. We don't need to be embarrassed about anything here as it relates to a fertile environment for startups. Indianapolis is the envy of most of our peers and we should be doing a better job of recruiting the many San Francisco startups who are fed up with the high costs, high turnover and stressful lifestyle found on the coast.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Angela IS the best RD

  2. We are a nation of speed. All of our younger lives are filled with deadlines, quotas and bottom lines. We start to ease out of the pressured rat-race when we finally see "retirement." The most enjoyable travel on the planet is passenger rail service. Indy to Chicago does not beat Megabus or Southwest Airlines in speed. Passenger rail however has the best seating, mammoth legroon, seat backs that recline to more than 45 degrees and employers that really want you to return as a customer. Indiana municipalities need to maintain subsidies to support this transportation mode. Losing it is loss for all of us.

  3. Good day! I just want to testify how i got my loan from Mr. Eric Lefkofsky after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan. Until a friend of mine introduce me to this popular Mr. Eric Lefkofsky who promised to help me and indeed he did as he promised without any form of delay. I never thought there are still reliable loan lenders until i met Mr. Eric lefkofsky who indeed helped me with the loan and changed my belief. I promised to share this testimony after I got my loan. I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr. Eric Lefkofsky via their email{grouponfunding@hotmail.com}

  4. Its a THUG issue. Bleecker Street and NYX are thug bars. They attract thugs of all races. Places that attract thugs need to be kicked out of Broad Ripple. Ain't nobody got time for that!

  5. Hello everyone, My name is Marian Gareth, I am from the Texas, United State, am here to testify of how i got my loan from Mr Andre Frank {frankloancompany@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right in this forum,i thought their lending where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Andre Frank the C.E.O of Andre Frank Loan Company who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Andre Frank, who really help me with my loan and changed my lief for better. I don't know if you are in need of an urgent loan, free feel to contact Mr Andre Frank on his email{ Frankloancompany@yahoo.com} for help

ADVERTISEMENT