Birth control startup wins NBIF prize of $100,000 for female founders
From the Springboard Content Lab
Congratulations to Jennifer Johnston, MD, who won the $100,000 New Brunswick Innovation Foundation (NBIF) “Fueling Female Founder Pitch Competition.”
Her company, Elle, MD Biotechnologies, is a non-hormonal birth control startup. The Better Ring uses a non-hormonal mode of action known to inhibit sperm from fertilizing a woman’s egg. By leaving women’s menstrual cycles alone, the technology prevents pregnancy without compromising a woman’s cardiac, immune, mental or sexual health.
Jennifer Johnston, MD, CCFP, DipABLM, is a family physician who has practiced medicine in Nova Scotia for over a decade. She’s seen firsthand how hormonal contraception can wreak havoc on patients’ health and well-being.
The $100,000 in equity investment was presented NBIF CEO and Springboard Board member Jeff White, FCPA,CA, ICD.D made the presentation.
The company is a client of Springboard’s IP Advantage and Springboard member Dalhousie University Office of Commercialization and Industry Engagement. The prize was awarded during the Atlantic Venture Forum in Halifax in June.
Five female founders pitched their startups before a panel of experts
In addition to Elle, MD Biotechnologies were:
- Theranib Inc. Founder Paola Marcato is improving cancer care through precision ALDH1A3 therapies (Halifax)
- Lab 4 Inc. Founder Nifemi O. is working in critical minerals processing and engineering technology (Dartmouth)
- RustSense – İlknur Tekin Bayhan is using smart corrosion monitoring to prevent damage before it starts (Fredericton)
- Urai AI Corp. – Shanthi Shanmugam is developing a platform to make AI agent creation effortless for businesses and developers (Fredericton).
Second annual pitch competition for female founders
Female founders located in Atlantic Canada were invited to apply to pitch at this competition in front of a panel of investors for their opportunity to enter due diligence with NBIF for up to $100,000 in equity investment. Five (5) female-led startups at the pre-seed stage to pitch will have the opportunity to pitch on stage to panel of judges.
What finalists receive:
- Opportunity to pitch live in front of a panel of active investors and potential customers.
- One-on-one pitch coaching with experienced advisors.
- Access to our VC 101 session—learn what investors are really looking for.
- Warm intros to co-investors and ecosystem leaders.