Currently, when someone has a brain injury, there is no viable way to determine what exactly is happening. “The brain is the final frontier; we can set bones, replace hips and knees, and even transplant organs, but very little is known about the brain. Doctors cannot rapidly, objectively, or accurately diagnosis brain injuries. Without an accurate diagnosis, it is difficult to know the therapy to provide or to determine how treatment is progressing” says Ying Tam, CEO of Mindful Scientific, a TiE Challenge Champion. It was this important, unmet need that was the genesis of Mindful Scientific, an early stage medical device company focused on brain health.
Mindful Scientific has developed a proprietary solution that helps determine whether the brain is functioning normally or if it is impaired. The company is based in Halifax, Nova Scotia, Canada with the US operations currently in CIC. The company is run by serial entrepreneur Ying Tam. Ying has a background in both Psychology and Technology, so Mindful Scientific is a perfect fit. He worked for “big business” for many years and enjoyed it. He climbed the corporate ranks and learned the different functional areas of large companies. But Ying caught the startup bug from the hype in Silicon Valley and elsewhere and jumped onto the entrepreneurial bandwagon with a technology startup in the late ‘90s. After that, it was contagious. The germinating of an idea, inventing as go, and growing the business – how it is going to work and how it is going to make a difference in people’s lives – was infectious. Mindful Scientific is his seventh startup.
Prior to Mindful Scientific, Ying co-founded a company called abridean, an application provisioning solution for services providers. He worked on that startup for 5 years, growing the company to over 75 people and raising over $12M. The company exited to a large publically traded security IT company in the UK. He also started a healthcare IT company that was eventually bought by its strategic investor and ran an enterprise software and professional services business that was acquired by a much larger technology company.
Ying learned about TiE Challenge through postcards and posters in CIC (where he works as part of the Canadian Technology Accelerator) and at tables hosted by TiE-Boston at Venture Café. TiE-Boston President Prat Moghe and other TiE entrepreneurs, who constantly engaged him, convinced him to apply to TiE Challenge.
Mindful Scientific has been on a winning path having achieved the following:
Top new technology at Life Science Alley, one of the largest medical device conferences in North America
Winner in the IBM Global Entrepreneur Program MentorCamp New England event
Winner at the Harvard University Extension School Conference business pitch competition
Finalist in the Bolt competition for device design and hardware development
And now as a TiE Challenge 2013 Champion, Ying is looking forward to the mentoring and connections from TiE Challenge to help Mindful Scientific get to the next stage in the development of the company – raise money, validate their technology and commercialize the product. Ying is extremely happy he applied for the TiE Challenge and encourages all entrepreneurs to aggressively pursue it.
TiE Boston was formed in 1997 with the mission to foster, encourage and support entrepreneurship in the New England region. The group has 138 charter members and more than 500 members, including serial entrepreneurs, top executives of Fortune 500 companies, VCs, academicians, analysts and policy makers. TiE-Boston charter members have founded, co-founded or headed some of the best known businesses in their respective industries. TiE-Boston entrepreneurs have founded and led world-class companies such as A123. TiE Boston is the Boston chapter of TiE. For more information, go to www.boston.tie.org