April 12, 2016: After a public round of competition involving five finalist teams, a panel of distinguished judges announced that the Lowell Milken Institute Sandler Prize for New Entrepreneurs was awarded to pasCARE, an innovative medical device startup.
The 100K award will allow the startup to pursue its goal to improve hospital efficiency and decrease deaths associated with pressure ulcers and lawsuits associated with them. "Each year 60,000 patients in the US die as a direct result of pressure ulcers," said Eric Pan, a current UCLA engineering student, "and our device will provide a new source for patient data to better inform caregivers and provide the highest standard of care for patients."
By combining real-time preventative monitoring of pressure ulcers (also known as bedsores), the pasCARE system notifies nurses and caregivers using a medical devices and digital app when a patient is at risk of developing a pressure ulcer. There is no existing device that provides the dual functionality of individualized patient monitoring of pressure ulcer risk with a notification system. The technology developed by the five-person team of pasCARE represents a strong opportunity to modernize the treatment and prevention of pressure ulcers and also to improve overall patient welfare.
ABOUT THE PRIZE
The Lowell Milken Institute-Sandler Prize for New Entrepreneurs is a business plan competition for teams of UCLA students. The prize is $100,000.
Each team must consist of two to six members and must include a current UCLA School of Law 3L student in good standing or a 2015 or 2016 UCLA School of Law graduate. This competition is for any Team that has developed a Startup Business that the Team has already started to build or intends to build within the next 12 months. A Startup Business is any proposed business or existing business, for profit, not-for profit, or public benefit. It is a new, independent venture in seed or startup stages.
ABOUT THE OTHER FINALISTS
Beehive: A Social Intelligence company targeting small to medium businesses. Founded in 2015, the company provides realtime insights into social data to identify loyal customers, discover value-based content and allow its clients to gain strategic insights to apply to their social media campaigns and platforms.
LevelPAC: The first of its kind, LevelPAC is a market-driven, nonpartisan company with a mission to deter Super PAC's from spending money in elections. LevelPAC provides protection for political candidates through insurance policies that pay out at rates as much as two to three times, if a Super PAC spends money against an insured candidate.
PetSnap: This SaaS "Freemium" cloud platform allows pet owners and veterinarians to collectively manage animal health through a website and app system where all medical records, tests and pet information is collected and available in one profile. The company's mission is to create a platform to make medical decisions for pets and their families more streamlined in order for pets and their owners to live longer, healthier and less stressful lives.
Declipse: Founded by Philip Okwo, who seeks to manage his own struggle with Sickle Cell Disease, Declipse is a social enterprise with a mission to improve health outcomes for the 30 million people who suffer from Sickle Cell Disease through comprehensive, cost-effective nutritional interventions and lifestyle solutions that are customized to the disease's unique metabolic demands.
ABOUT THE FINAL ROUND JUDGES
Lowell Milken: Chairman and Co-Founder of the Milken Family Foundation; UCLA Law Graduate
Richard Sandler: Executive Vice President of the Milken Family Foundation; UCLA Law Graduate
Julie Schoenfeld: Chief Executive Officer, Strobe, Inc.
Michael Stilton: Managing Director, Act One Ventures; Chair Emeritus, UCLA Venture Fund
Lawrence Vavra: Co-Founder and President, Deckstar Artists Management; UCLA Graduate
Amy Wang: Co-Founder and Chief Executive Officer, Enrou, Inc; UCLA Graduate
April 19, 2018