Jeremy Bronen and Timothy Krupksi were business partners of SedMed Inc. which formed in June of 2021. Inspired by Timothy’s family friend, the company was formed and focused on developing mobility products for people with disabilities and older adults. Timothy’s close family friend “Grandma Grace” had suffered a stroke, and Timothy realized that something needed to be done after watching her struggle to get around the house. Their first product, SedMed Toilet Lift Assist, helps people get on and off the toilet with minimal effort.
Working with the CTSBDC Advisor Struggling with Creating a Business Plan
Before reaching out to CTSBDC, SedMed faced challenges in developing a comprehensive business plan and securing funds for their venture. However, their decision to seek assistance from CTSBDC marked a turning point. Denise Whitford and Patty Meagher, CTSBDC Business Advisors, played a pivotal role in assisting Timothy and Jeremy throughout their company’s launch. With their guidance, Timothy and Jeremy secured a first-round equity investment and received invaluable general business advice. Through their interactions with Denise and Patty, Tim and Jeremy learned essential skills such as effectively approaching investors, managing relationships with them, and successfully closing deals.
Timothy and Jeremy comment, “Our advisors have been there for us at the drop of a dime and in critical times. Honestly, they have been helpful to the business and comforting when other aspects of life hit you while starting a company.”
Significant Strides in its Journey Toward Success
With Denise's support and connections at the Department of Labor (DOL), they were able to hire their first two full-time team members in the second quarter of 2023. Their dedication and innovative ideas caught the attention of funding organizations, resulting in grants that propelled their growth. They secured CTNext Talent Bridge grant funding of $25,000 and a FORGE Grant of $20,000 during the same quarter. Prior to these achievements, SedMed had already received $70,000 of grant funding. To further fuel their expansion, they obtained an investment of $931,000. SedMed's success also stemmed from their participation in the VERGE program, completing projects in both 2022 and 2023.
Their journey involved meticulous planning and preparation, including the creation and revisions of strategic marketing strategies and pitch decks for investors and competitions. Additionally, CTSBDC Business Advisor Denise introduced them to a reliable broker who helped them find the perfect office location, and she guided them through the requirements to sign the lease agreement. With each milestone, SedMed was solidifying its position in the industry and inching closer to its vision of revolutionizing healthcare.
The Future Holds Exciting Possibilities for SedMed!
Denise, reflecting on her collaboration with Jeremy and his team at SedMed, expresses her admiration for Jeremy's remarkable entrepreneurial spirit and leadership qualities.
“From the first time we met, we truly believed the medical device would reduce the risk of injury for both patients and healthcare employees. We just needed to find viable capital and a strategic marketing strategy to get it into distribution.”, she comments.
Denise adds that throughout the journey, Jeremy and his team demonstrated remarkable unity, actively driving progress, and achieving tangible results.
“With each step we took, Jeremy and his team worked in lockstep to drive action and results. I am looking forward to the next few chapters as the lift gets distributed more broadly across the USA and eventually into global markets,” says Denise.
Timothy highlights: “It is imperative that you work with CTSBDC! They will help you launch!”