Newsletter 8.8.2024

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Happy Thursday! This is Mind Your Business—your secret weapon, like having the cheat codes to the startup game.

Here’s what we’ve got for you this week:

• Tampa Bay Startup Nets $45M to Feather Its Nest and Lead in MSP Automation

• New Initiative Set to Transform Tampa Bay's Health Tech Scene

• Local AI Startup Gains Strategic Boost from Tech Giant Investment

FEATURED

Rewst Nets $45M to Feather Its Nest and Lead in MSP Automation

Rewst, a Tampa-based automation startup, has successfully raised $45 million in a recent funding round, enabling the company to scale rapidly. CEO Aharon Chernin highlighted that the funding will be used to expand their team and accelerate product development. The company has seen significant growth, driven by increasing demand for its automation solutions in the managed service provider (MSP) market. Chernin emphasized the importance of maintaining a strong company culture as they continue to grow "super, super quickly."

TICKLE YOUR BRAIN

You’ve just launched an app, and you’re analyzing the user data. You notice that while downloads are high, active user retention drops sharply after the first week. The challenge is to identify the first metric you should investigate to diagnose the retention problem. What is the most critical metric to analyze?

(Pause for some deep thinking...)

STARTUPS

Tampa Bay Wave Launches HealthTech|X Accelerator to Propel Next-Gen Health Startups

Tampa Bay Wave has unveiled its latest accelerator, HealthTech|X, aimed at boosting innovation in the health tech sector. This program is designed to support early-stage startups that are developing cutting-edge technologies to improve healthcare delivery and patient outcomes.

With a focus on areas like telemedicine, medical devices, and health data analytics, HealthTech|X will provide mentorship, resources, and networking opportunities to help these startups grow and scale. The accelerator is part of Tampa Bay Wave’s ongoing efforts to strengthen the region’s reputation as a hub for health tech innovation.

The selected companies are:

• Bioniks (Karachi, Pakistan): Innovating in the field of prosthetics, Bioniks provides artificial limbs to enhance mobility and improve lives in Pakistan.

• Definition Health Limited (Brighton and Hove, UK): Offers software solutions that optimize and streamline the entire surgical process, ensuring efficiency and better patient care.

• EXO Technologies (Chapel Hill, North Carolina): Specializes in health services designed to cater to the unique needs of women, focusing on female-specific health concerns.

• Grapefruit Health (Chicago, Illinois): Tackles the healthcare staffing crisis by developing a tech-powered workforce made up of local clinical students to fill crucial roles.

• Joberfer Inc. (Calgary, Alberta, Canada): Provides job referral services tailored to the healthcare sector, connecting professionals with opportunities.

• Liife Inc. (Warren, New Jersey): Combines AI with security and health technology to offer advanced identification and verification solutions.

• MediMint (Philadelphia, Pennsylvania): Focuses on the seamless sharing of medical images, facilitating better communication among healthcare professionals.

• Mercurial AI (Chicago, Illinois): Uses artificial intelligence to create personalized treatment plans, tailoring healthcare to individual patient needs.

• NearWave (Austin, Texas): Develops a non-invasive device that measures critical biomarkers like tissue oxygen saturation and hemoglobin concentrations.

• Pathfinder (San Diego, California): Provides a comprehensive resource for parents, offering guidance on child development and early intervention.

• REMware (Tampa, Florida): Offers software designed to improve sleep quality, helping users achieve better rest through advanced technology.

• SimpliFed (Ithaca, New York): A platform that supports families with baby feeding and beyond, ensuring health and wellness from the start.

• Superb (Omaha, Nebraska): Delivers technology solutions to support healthcare workers and the communities they serve, enhancing care delivery.

• Veba Baby Corp. (Coral Springs, Florida): Introduces a smart bottle monitor that tracks the freshness of breast milk and formula, ensuring safe feeding.

• VitVio (Wilmington, Delaware): Utilizes AI and computer vision technology to increase the efficiency of operating rooms, making surgeries smoother and safer.

FUNDING

Latino-Founded Tampa AI Startup Secures Major Investment from Google to Fuel Innovation

Google has made a significant investment in a Tampa-based AI startup, signaling strong confidence in the company’s innovative approach to artificial intelligence. This funding will be used to accelerate the startup’s growth, enhance its AI-driven solutions, and expand its market presence. The investment underscores Tampa's growing reputation as a hub for cutting-edge technology and innovation, particularly in the AI sector.

MEME STREET

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WORTHY MENTIONS: UPDATES, TOOLS, RESOURCES

• 🎯 Paid Traffic & Conversions event on August 29th. Complimentary to Mind Your Business subscribers. RSVP here

• TGH Ventures x Embarc Collective Healthtech Meetup on August 22nd

• Current Fear & Greed Index: Extreme Fear

• 📅 Want to sponsor an upcoming Masterminds event? Register here!

Answer:

The most critical metric to analyze first is the User Engagement Rate. This metric shows how often users interact with your app during that first week. Low engagement could indicate issues with the app’s usability, content, or onboarding process, which are key factors in retaining users beyond the initial download.

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