Two NH tech startups received $150,000 each in investment capital, funded by the Millworks Fund II, at the eighth annual NH Tech Alliance’s 2019 TechOut competition.
The winners of the TechOut competition are Clairways in Hanover and Aisling Organics in Manchester. Two other startups, Chyme in Salem and Tanosteel in Keene were also finalists and demonstrated and presented their products at the event.
Aisling Organics, a 2018 finalist, is an organic cosmetics company touting a high-performance, safe alternative to conventional cosmetics, with products formulated with crushed plants and herbs. CEO Krysta Lewis says her company has experienced a 328% increase in orders and a 300% increase in subscribers in the past year.
Clairways is developing a wearable lung function monitor for respiratory clinical trials. CEO Jeff Bemowski says pharmaceutical companies invest $1.7 billion annually into clinical trials, however, current methods of capturing respiratory metrics are bulky and intrusive.
He says the company has received grants from the National Institutes of Health and National Science Foundation and been named an innovator by Johnson and Johnson.
TechOut is open to startups that have been in business for fewer than five years, raised less than $250,000 in funding and have less than $250,000 in revenue.