BlueIron IP Invests in Novum Concepts Using A Unique, Non-Dilutive Investment Vehicle
BROOMFIELD, CO — As former paramedics, Mike Kobneck and Kevin Scardina have special insight into what emergency room personnel need while awaiting a patient arriving by ambulance for treatment.
When a sick or injured person is taking that siren-wailing ride to the ER, having the most complete information already in-hand can make all the difference on the outcome of that visit.
That’s why Kobneck and Scardina, co-founders of Novum Concepts, created the BioPhone Field app to improve the chances of a successful ER experience.
“The traditional way is you pull your phone out of your pocket and call the hospital and tell them what you have,” says Kobneck. “But that’s incredibly old, outdated, and limited in quality of data.”
With the BioPhone Field app, high-quality photos and videos are sent ahead to the ER, and the information is protected from any possible hacking.
“As soon as the video is captured, it’s encrypted and shows up at the hospital to be decrypted,” says Kobneck. “We use end-to-end encryption, the same used by credit card companies and HIPAA (Health Insurance Portability and Accountability Act of 1996 that protects patient privacy).”
Novum Concepts’ intellectual property sounded like a perfect fit for a patent, and that’s why Russ Krajec, founder of Loveland-based BlueIron IP, is investing in Novum.
BlueIron’s investment will pay for Novum’s U.S. patent for the BioPhone Field app.
“Novum is addressing a real need that paramedics actually have – they know it like nobody else does – and that brings a lot of credibility to their business,” Krajec says.
Krajec, a former engineer, inventor, and startup founder, is also a patent attorney who knows the ins-and-outs of the often expensive and tedious patent award process.
Unlike a traditional patent attorney, Krajec can offer a $60,000 or more investment to help those with patent-worthy IP make it through the patent process much faster than they otherwise might — and with more predictable results.
While most patents can take five years or more with a typical patent attorney who only cares about getting paid for services, Krajec said his experience in getting patents quickly – and the added impetus of having his own skin in the game – can reduce that to less than a year.
BlueIron finances a startup’s intellectual property using a conventional commercial lease-back model, saving the fledgling startup precious capital so it can build its product and enter the marketplace.
“As with any commercial lease-back, the startup has an option to buy out the asset at any time, but with its exclusive license, it can enforce the asset, license it out or use it to control its market. The license is also transferrable to an acquiring company, making Novum a great acquisition target.”
Krajec said BlueIron is especially interested in helping startups that are ‘bootstrapping’ their development with their own money or from family and friends.
“There is a whole group of companies out there who are able to bootstrap themselves to success,” he says. “We’re able to make an investment and they are still able to keep their autonomy and control.
“The key thing for our investment is that Novum’s technology survived our due diligence process to make sure that the patent would have great business potential. We can only invest after we believe in Novum’s technology and their ability to bring the product to market,” says Krajec.
Novum Concepts’ Kobneck said the BioPhone Field app has already been tested by Lafayette’s Good Samaritan Hospital, where it has been piloted successfully since August 2015.
Kobneck said he’s confident BlueIron will be able to obtain a patent for his company with Krajec’s non-dilutive investment and insider knowledge.
“Having him put that initial skin in the game shows he is invested in the patent,” he says. “That really made me feel more comfortable about the process.”
Kobneck said Good Samaritan is loving the BioPhone Field app. “Their biggest complaint was they wished everybody was using it,” he says. “They really like being one step ahead of the patient.”
About BlueIron IP
BlueIron IP finances patents for startup companies using a unique “lease-back” model that does not dilute the equity holders. BlueIron is based in Loveland and was launched in September 2014 by Russ Krajec, a former engineer, inventor and startup founder and patent attorney who intimately understands the patent award process by having experienced both sides of it. For more information, call 970-776-4355 or visit http://www.blueironip.com/.
About Novum Concepts
Novum Concepts’ flagship product, the BioPhone app, is available on iOS and Android platforms. Novum Concepts was founded by Mike Kobneck and Kevin Scardina, two paramedics in the Denver area. The BioPhone is the only app that securely transmits patient data, including data for registering the patient, to a hospital while paramedics are enroute in an ambulance. For more information or to schedule a demo, visit http://novumconcepts.com.