North Country Start-Ups Participate in Point Positive Pitch Session
KLAW Industries and Just a Moment Music Meet with Member Investors
SARANAC LAKE, NY - Point Positive, Inc. held its bi-annual pitch session on Wednesday, October 28, 2020, with two vetted entrepreneurs, KLAW Industries and Just a Moment Music. Point Positive Coordinator Melinda Little, with the assistance of Maura Maguire from the Shipley Center at Clarkson, hosted the virtual event via Zoom from The Carry in Saranac Lake.
The meeting with 15 member investors began with a brief presentation by Kip Testwuide, who also serves as Vice-Chair of the Trudeau Institute Board, on the status of the Adirondack Health/Trudeau Institute High-speed COVID-19 Testing Lab Initiative, which promises to be a tremendous resource for businesses, schools and universities across the Region.
About the companies:
● KLAW Industries is a multifaceted venture that, through proprietary technology, is developing a sustainable concrete pozzolan made from recycled glass called Pantheon™. Their technology is not only stronger than its competition but also better for the environment and more economical to both the recycling plants and the concrete manufacturers.
○ Presenters: Tanner Wallis, Jack Lamuralia, and Jacob Kumpon
● Just A Moment Music is a daily one-minute wellness music series designed to fit peacefully and effectively into people's busy lives. The music moments support personal contemplative and spiritual practices, create a soothing, stress-reducing environment, and provide an anxiety-free foundation for mental health maintenance practices.
○ Presenters: Martha and Dennis Gallagher
Between each of the two pitches, there was a brief "closed-door" investor discussion. Post-meeting, the member investors will now complete a pitch evaluation sheet for each company. If the evaluations are favorable, Point Positive will subsequently conduct an in-depth due diligence review of the company's proposal and projected use of funds. If the outcome of that review is favorable, a deal will be structured, and all of the Point Positive members/investors will have the chance to participate on an individual basis in the deal. Decisions to invest or not are up to the member investors. The time commitment is tailored to preference – members can lead, mentor, advise, or just monitor and invest on an individual basis.
Point Positive is also working with additional companies ready to make a pitch within the next couple of months. Using zoom and other comparable technologies, the organization will have the flexibility to accommodate their readiness and hold additional pitch events beyond the two events each year it typically organizes.
More About Point Positive
Point Positive Inc. is the angel investing and mentoring group of seasoned business leaders in the Greater Adirondacks. Since 2014, the organization has vetted over 50 ventures from a wide range of industries, committing over $3.3 million in capital, fueling new jobs, and a more robust diversified economy in the Adirondacks.
Partnerships with regional colleges and universities such as Clarkson, NCCC, Paul Smith's, and SUNY Plattsburgh, as well as economic development organizations, other angel investment groups, and venture capital funds, further the effort through networking, relationships, and a collaborative approach creating jobs and building sustainable businesses to retain graduates and future generations in the Adirondacks.