E47 That Great Business Show - Aaron Hannon, Luminate Medical; Mitchell O'Gorman, xWave; Rachel and Brian Nolan, NoBo
2.00" Aaron Hannon, from Ballina, Mayo, co-founder of Luminate Medical. Aaron (22) tells us you about some of the many, many business ideas he’s had, including his latest venture, a medical device to stop hair loss in those undergoing chemo therapy. 4m people a year, worldwide, lose their hair because of chemotherapy. 80% of those use wigs to cover their heads when they lose their hair and those wigs can cost up to €1,000 - so that adds up to a lot of money.
Previously Aaron created a post-stroke paralysis shaving device when he was just 16, that he subsequently patented. He explains why this unique device didn't work and why he now looks for ideas that give 'investable returns'. He explains how the company got on to the hugely prestigious Y-Combinator accelerator programme (alumni include AirBnB and Stripe) and he tells us more about their current $2.5million fund raising, which is allowing them to hire more R&D staff.
NUI Galway based Aaron was named a 2020 JCI Ten Outstanding Young Persons of the World honouree in the medical innovation category. He was also named Mayo’s Best Young Entrepreneur 2019.
His hire in a heartbeat, Professor Declan O'Loughlin of TCD, 'the smartest person I know' according to Aaron.
23.00" Mitchell O'Gorman, CEO xWave Technologies. Mitchell has a huge background in the advertising industry but is now running an X-Ray related software company that says it saves lives by ensuring that patients get 'the best test first'.
30% of radiology scans are 'inappropriate'. xWave has built a software to make sure that people only get the tests they need. It means there are huge savings for insurers and patients. The company's return on investment is 60X for those using the software! They have a partnership European Society of Radiology (there are 120,000 members).
Mitchell explains his digital marketing and media background that has NO connection with an X-ray software (he had to check exactly what a radiologist did!). Pivoting from media to running a software was 'not easy'.
The company has already raised €600,000 from leading radiologists in Ireland and the UK and is about to launch a crowdfunding call-out through Spark Crowdfunding.
He asks TeamGBS (our listeners) for introductions to those in the medical profession who might be interested in their software solution.
Mitchell's 'hire in a heartbeat' is Ciaran Lee, ex Intercom, who has already said 'no' but TeamGBS may have a way of changing his mind??
44.00" Husband and wife team, Rachel and Brian Nolan, founders of Nobo (founded in 2012) have toiled away in the trenches, producing their dairy free ice-cream and chocolate (Nobo = NoCow!). However, in the last six months things have taken a big upwards trajectory. They have funded, moved into the former Helen Turkington store in Dublin's leafy Ranelagh suburb and they explain why they're basing their shop, artisan factory and world HQ in a non-industrial location. They also hint at a move away from ice-cream, to concentrate on their dairy-free chocolate that they've just introduced to markets in Netherlands and Canada. They discuss that (complicated) process and why they've chosen not to be in the UK at the moment.
They have big ambitions, and cite Alpro and Oatly as being the kind of big company they would love to create.
They're hiring with vacancies on Nobo.ie
Their (jointly discussed) 'hire in a heartbeat' Yvonne Chenard of Patagonia
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