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N.J. company wins $45,000 investment for health care mobile app

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A New Jersey-based company entered its mobile application into the HighTide for HealthcareIT competition sponsored by the Tallwave venture firm, and won.

The competition was designed as a six month program for entrepreneurs to push health care boundaries. High Tide works with the entrepreneurs to create and execute winning strategies to accelerate growth and help them secure funding, according to a news release issued by Yahoo Finance.

And over the subsequent months, the original pool of companies that entered was cut from nearly 200 to just six.

One of the six, and the overall winner was Health Options Worldwide based in Somerset and co-founded by Clark Lagemann. The company entered their app myHINT, which encouranges wellness by recommending schedules to seek preventative measures based on the user's personal health data, into the program.

The other finalists were:

  • Inspire Living, based in Fairfax, Va., which provides a respiratory monitoring device with a unique algorithm that allows for early detection of child pneumonia.
  • Performance 3D, based in Scottsdale, Ariz., which provides 3D motion capture and analysis technology that improves fitness performance and reduces the risk of injury.

Each finalists receive a $45,000 cash award, structured as a convertible note. Any company (up to 12) that agrees to participate in the program is required to sign over 6 percent common stock to the Tallwave Commercialization Fund.

Tallwave is an Arizona-based venture capital fund specializing in seed investments in early-stage technology and media companies. The fund is managed by Tallwave Capital.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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