Month: July 2021

mHub Chicago is an award-winning startup business ecosytem for manufacturing .  Its goal to help ensure that the manufacturing industry which has been so important in Illinois and the Midwest over the years continues to accelerate, grow and thrive.  Although it's a nonprofit, it probably best is described as a public-private partnership, funded with both public money and corporate sponsorships.

Melissa Lederer, Chief Experience Officer at mHub, joined The Savvy Entrepreneur show recently to talk about the mHub community and some of its programs and accomplishments.

The mHub community includes over 350 active and alumni startups, supported by a deep talent pool of product designers and developers, entrepreneurs, engineers and manufacturers and a host of other experts designed to help support commercialization of new manufacturing related businesses, resulting in intellectual property growth, along with revenue and job creation

Since launching in 2017, it has helped companies launch more than 1200 products new products, hired more than 2100 employees, and raised nearly 702 million in capital.  mHub's close partnerships with area manufacturing companies offers more rapid go-to-market opportunities, real-time mentoring and feedback, and expedited exit strategies to its member startup companies.

It has also recently branched out to create a formal accelerator program, offering startup seed funding to innovative manufacturing startups in exchange for equity.  The new offering has attracted startups not only from the Midwest, but from across the U.S. and internationally as well.

The mHub community is thriving and vibrant, and Melissa shares some of the ecosytem's successes.  Having seen lots of companies come through the program and drawing upon her past experience with 1871 and Matter in Chicago, she offers some advice to help startup businesses increase their chances of success.

It's a great listen — Melissa's enthusiasm for mHub and what they are doing there shines through!  Click on the arrow to the left to listen.  Or, go here if you'd prefer to read a transcript of the show.

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Franchising is an option that many people should consider if they want to own their own business — especially if they are not sure how to get started.  And franchising & women are a particularly good combination.

Tamika Franklyn, Founder of Precision Franchise, joins The Savvy Entrepreneur show to talk about some of the many advantages of franchising. She also shares why franchising may be a particularly good option for women entrepreneurs. She dispels the notion that you need brick and mortar to build a successful franchise. Similarly, there are franchises that require far less than 20 hours a week, and can be built on your timeline.

It's a great listen, and chockful of great advice and insights! Click on the arrow to the left to listen.  Or, if you'd prefer to read a transcript of our chat, click here.

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Dr. Asha Parekh, Co-Founder and CEO of Frontline Medical Technologies joined The Savvy Entrepreneur recently to chat about her company's journey and about how to encourage more women in STEM, entrepreneurship, and especially healthcare startups.

Asha is a first-time CEO — no small feat in the medical device world.  She and her partner have also largely boostrapped their way through regulatory approval, and are nearly ready for commercialization.

The device they've invented and are bringing to market through Frontline Medical Technologies is the world's smallest REBOA device.  It's designed to stem traumatic bleeding to allow critically injured patients a better shot at getting to the operating room before they lose too much blood. Currently, 90% of trauma patients with significant internal bleeding never even make it to the OR.

Asha candidly shares some of the many challenges she and the company have faced.  She offers several pieces of advice that she's learned along the way.

She also is passionate and devotes time to helping girls and young women consider STEM (Science, Technology, Engineering, and Medicine) careers.  She shares her thoughts on how to encourage more women — not only in technology careers, but also to have the courage and vision to become entrepreneurs and leaders.  On average, only 19% of leadership roles in the MedTech industry are held by women. Similarly, only 10% of healthcare startups are owned and/or founded by women.

Click on the arrow to the left to take a listen!  Or, if you prefer, read a transcript of the interview.

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