AcuMade Corp, founded in November 2018 by three women, is developing a prototype of their device and technology with a safer option for pain management and recovery. They have partnered with Centennial College to commercialize their product.
Participating in Innovation Guelph’s Rhyze Ventures program has helped the founders recognize areas to focus on for growth, provided them with resources and helped them plan how to grow their business. The focus on leadership and growth has motivated them both in their business and their other jobs. They have also valued the opportunity to build connections.
“Since we are at the very beginning stages of building our company, it is often hard to visualize what the next month or even next year will look like for us. The other program participants are at different stages with their start-ups and it is really great to observe what things could look like for us when we reach those similar stages,” they said.
Support from mentors and industry specialists have been valuable in their journey as entrepreneurs. “Their support and guidance were very specific to our company’s needs, which included company organization and structure, business plan development, product development, market research, pricing strategies, and marketing strategies. The coaching was exactly what we needed.”
One of the biggest challenges they faced due to their inexperience was knowing what they needed to do and when. Since participating in the program, they now have more concrete plans with clear steps for product development which has also improved their relationship with the college.
Since participating in the program, AcuMade Corp was one of the finalists for the pitch competition with Rhyze Ventures last October 2020.
The founders advise other women entrepreneurs to “trust your gut and go for what you are passionate about.” The founders said they have also learned sometimes you need to step out of your comfort zone and ask for help. They are grateful for their participation in Rhyze Ventures. “Through networking and mentorship partners, we have created relationships that we will appreciate during our business journey and have aligned us with like-minded individuals. Not only did we have opportunities to learn and help our business now, and in the future, but we have connected with a community of amazing entrepreneurs.”