Apr 30, 2018 | News, Spring Loaded Technology
See original article here
CHRIS COWPER-SMITH
Co-founder, president and CEO, Spring Loaded Technology
Bringing bionic technology to sports enthusiasts and putting a spring in the step of people with knee injuries
What happens when a neuroscientist, an engineer and a business student take an entrepreneurship class together? They create a bionic knee, of course. Halifaxbased Spring Loaded Technology was created in 2013 by a trio of knee-injury sufferers: Chris Cowper-Smith (the scientist); Bob Garrish (the engineer); and, Shaw Kewin (the business student). The trio’s communal pain inspired Cowper-Smith to create a brace “that could assist with mobility, rather than just providing stability.”
The basis of Spring Loaded Technology is the spring inside: “We just had the small task of reinventing the spring,” Cowper-Smith explains nonchalantly. After four years of development and prototypes, they created a compact spring small enough to fit inside a conventional knee brace. The Levitation bionic knee brace hit markets in 2016 with a sales model focused on selling directly to the consumer through digital advertising. Upon determining the user is a good candidate for getting the spring back in their step, a bracing specialist works with them remotely to measure for the right fit.
Next came the million-dollar contract with the Department of National Defense in which they produced 190 military-grade knee braces for the Canadian Forces. The yearlong pilot project concluded with positive reviews from injured military members and the company hopes to be supplying braces in forthcoming contracts. In the summer of 2017, they received $2.45 million in funding through ACOA’s Atlantic Innovation Fund, which they are using to build a human factors testing lab to assess actual usage of the brace. Currently the Levitation is 100 per cent assembled onsite by the company in Dartmouth’s Burnside Industrial Park: the only part brought in is the brace’s casing.
For Ontario ex-pat Cowper-Smith (Garrish and Kewin are no longer with the company), the transition from scientist to CEO has been a challenging endeavor: “There’s always that little bit of uncomfortableness, a discomfort, with being a little bit out of your realm,” he says. For him the key lies in creating support, and not just with the knee brace. Reinforcing the company’s leadership team has been at the forefront of his agenda: “There’s been incredible support in the community, and we’ve managed to attract some people who are a lot smarter than me that help me fill in the holes.”
“I think a background in science can be really useful for an entrepreneur starting a company, because ultimately what you are trying to do as an entrepreneur, at least in startup, is do a lot of different rapid experiments to figure out how this business is going to work,” says Cowper- Smith.
It looks like 2018 will be an aggressive scaling-up year: four of the 33 employees are currently setting up temporary sales locations across the country. The U.S. and international markets are next.]]>
Nov 1, 2017 | AGADA Biosciences, News, Spring Loaded Technology
See original article here
The 2017 Game Changers awards were presented at the annual gala Monday night at the Westin Nova Scotia with an audience of more than 300 people.
The Halifax Partnership, which runs the Game Changers Youth Retention program, recognizes Halifax employers and connectors who demonstrate leadership in the industry through youth hires and meaningful learning opportunities. With the goal of keeping more youth workers in the province, the private-sector initiative aims to reduce the net annual average youth outmigration to zero by 2019.
Since Game Changers began, the net interprovincial outmigration of youth aged between 20 and 29 years old has improved from 1,500 to 222 between 2014 and 2015. Last year’s outmigration is estimated to be 231, showing the start of a positive trend for more youth staying and working in Nova Scotia.
“We at the Halifax Partnership are so proud of our province’s progress to date, and it is thanks to our business community,” said Ron Hanlon, president and CEO of the Halifax Partnership. “We’re making great strides, we need to keep the momentum going.”
After receiving more than 100 nominations, the annual awards are presented by TD Canada Trust, who named nine businesses in four categories as this year’s winners.
Best Youth Employer Awards
• Agada Biosciences Inc. (Small Business Category)
• Spring Loaded Technology (Medium Business Category)
• Citco (Canada) Inc. (Large Business Category)
Experiential Learning Awards
• Halifax Refugee Clinic (Small Business Category)
• Kinduct Technologies (Medium Business Category)
• Stantec Consulting Ltd. (Large Business Category)
Best Super
Connector Awards
• Chris O’Shea, Business Development Bank of Canada
• Shelagh McCorry, HSBC Bank Canada
Best Connector
Organization Award
• National Public Relations
]]>
Aug 9, 2017 | Spring Loaded Technology
See original story here
As it continues to fund young companies, the First Angel Network has developed an investment niche for the biomedical space and is showing an eagerness for repeat investments.
FAN, as it is known, has been investing in Atlantic Canadian startups for 12 years, making it the dean of active investment groups. Its portfolio has included a couple of exits and a few failures. The group has sometimes been controversial, and a group of FAN investors is now suing the developer of King’s Wharf in Dartmouth.
Through it all, the co-founding team of Ross Finlay and Brian Lowe has been arranging quarterly investments for their network of angels, as they have been for the past 48 quarters. The landscape has changed since FAN started, and the group concentrates more these days on life sciences companies or IT companies that have medical applications. Recent investments like Chinova Bioworks, Covina Biomedical and Spring Loaded bear this out.
“It seems like our members gravitate toward those types of deals,” said Lowe in an interview last week.
“Our members like to invest in biotechnology and medical devices. They seem to understand the sector well.”
A look at the companies FAN has invested in shows the concentration in life sciences:
Spring Loaded Technology, Dartmouth — Spring Loaded has recently launched the Levitation knee brace, which not only stabilizes the joint but also adds power to it.
Chinova Bioworks, Fredericton — Chinova is using the multi-purpose compound chitosan in an anti-microbial agent, which it uses in a natural preservative in such foods as juices.
Iron Apple International, Halifax — Iron Apple International provides food safety solutions to transportation companies throughout North America.
Covina Biomedical, Halifax — Covina is commercializing a non-toxic bone cement that can be injected into the vertebrae of osteoporosis patients who have suffered a fracture. The company has said it raised $350,000 from FAN as part of a round with a target of $1 million.
WellTrack, Fredericton — WellTrack is a product that helps organizations — especially universities — improve the mental health of their members, especially those suffering from stress, anxiety and depression.
NB Biomatrix, Saint John — NB Biomatrix has developed Naqua-Pure, a liquid that uses nanotechnology to remove heavy metals and other pollutants from waste water.
What’s interesting about the Spring Loaded funding is that it is the second time the knee-brace-maker has tapped FAN for funding. The company received funding from FAN and Innovacorp two years ago, then from Build Ventures last year and returned to FAN earlier this year.
“FAN has been a long-term supporter of Spring Loaded,” said CEO Chris Cowper Smith in an email. “They are well organized and offer an efficient process for raising capital through their network. We had excellent uptake from FAN on our current offering and we look forward to working with them going forward.”
Lowe and Finlay said the organization is interested in providing follow-on funding from its more successful portfolio companies. It has done return investment for Spring Loaded and Halifax-based Metamaterial Technologies Inc., which recently announced an $8.3-million funding round that included contributions from FAN. Some of these companies are also raising money through the Wilmington Investor Network, a North Carolina group with whom FAN sometimes co-invests.
Fi
As it continues to fund young companies, the First Angel Network has developed an investment niche for the biomedical space and is showing an eagerness for repeat investments.
FAN, as it is known, has been investing in Atlantic Canadian startups for 12 years, making it the dean of active investment groups. Its portfolio has included a couple of exits and a few failures. The group has sometimes been controversial, and a group of FAN investors is now suing the developer of King’s Wharf in Dartmouth.
Through it all, the co-founding team of Ross Finlay and Brian Lowe has been arranging quarterly investments for their network of angels, as they have been for the past 48 quarters. The landscape has changed since FAN started, and the group concentrates more these days on life sciences companies or IT companies that have medical applications. Recent investments like Chinova Bioworks, Covina Biomedical and Spring Loaded bear this out.
“It seems like our members gravitate toward those types of deals,” said Lowe in an interview last week.
“Our members like to invest in biotechnology and medical devices. They seem to understand the sector well.”
A look at the companies FAN has invested in shows the concentration in life sciences:
Spring Loaded Technology, Dartmouth — Spring Loaded has recently launched the Levitation knee brace, which not only stabilizes the joint but also adds power to it.
Chinova Bioworks, Fredericton — Chinova is using the multi-purpose compound chitosan in an anti-microbial agent, which it uses in a natural preservative in such foods as juices.
Iron Apple International, Halifax — Iron Apple International provides food safety solutions to transportation companies throughout North America.
Covina Biomedical, Halifax — Covina is commercializing a non-toxic bone cement that can be injected into the vertebrae of osteoporosis patients who have suffered a fracture. The company has said it raised $350,000 from FAN as part of a round with a target of $1 million.
WellTrack, Fredericton — WellTrack is a product that helps organizations — especially universities — improve the mental health of their members, especially those suffering from stress, anxiety and depression.
NB Biomatrix, Saint John — NB Biomatrix has developed Naqua-Pure, a liquid that uses nanotechnology to remove heavy metals and other pollutants from waste water.
What’s interesting about the Spring Loaded funding is that it is the second time the knee-brace-maker has tapped FAN for funding. The company received funding from FAN and Innovacorp two years ago, then from Build Ventures last year and returned to FAN earlier this year.
“FAN has been a long-term supporter of Spring Loaded,” said CEO Chris Cowper Smith in an email. “They are well organized and offer an efficient process for raising capital through their network. We had excellent uptake from FAN on our current offering and we look forward to working with them going forward.”
Lowe and Finlay said the organization is interested in providing follow-on funding from its more successful portfolio companies. It has done return investment for Spring Loaded and Halifax-based Metamaterial Technologies Inc., which recently announced an $8.3-million funding round that included contributions from FAN. Some of these companies are also raising money through the Wilmington Investor Network, a North Carolina group with whom FAN sometimes co-invests.
Finlay noted that research by the Angel Research Institute of the United States shows that follow-on funding accounts for more than half the angel investment in the U.S.
“We’ve been wondering if we should try to focus more on not chasing the shiny new object but on supporting the companies that are already in our portfolio,” he said. “We think that’s a good use of our capital.”
nlay noted that research by the Angel Research Institute of the United States shows that follow-on funding accounts for more than half the angel investment in the U.S.
“We’ve been wondering if we should try to focus more on not chasing the shiny new object but on supporting the companies that are already in our portfolio,” he said. “We think that’s a good use of our capital.”]]>
Sep 21, 2016 | News, Spring Loaded Technology
here
Research scientists find the LevitationTM Knee Brace enables users to perform 20 percent more squats
HALIFAX, NS – Sept. 20, 2016 – Spring Loaded Technology today reports the findings of a recent third-party study which links its LevitationTM, the world’s first compact bionic knee brace, to a significant reduction in factors that can lead to muscle fatigue. Research scientists observed the oxygen intake, carbon dioxide production and muscle activity of three healthy individuals as they repeated a squat to stand task with and without the assistance of the knee brace.
The study found that the LevitationTM Knee Brace, which uses a liquid spring technology to store energy as the leg is bent and return it as the leg is straightened, requires significantly less exertion from the user during energy expensive movements like rising to a stand from a full squat or crouched position. Data from the study revealed that participants used 25 percent less oxygen during the task cycle when compared to their consumption without the brace’s assistance. The researchers also found a drastic 40 percent reduction in carbon dioxide production.
The study was performed through the NSERC Engage Program at the University of New Brunswick by research scientists, Dr. Chris McGibbon in the Faculty of Kinesiology and Abeer Mohamed Abdelhady, PhD Candidate in the Dept. Mechanical Engineering.
“With the knee brace’s assistance, participants consumed less energy and were able to do more physical activity as measured with our squat test,” said Dr. Chris McGibbon. “The participants in this study also demonstrated a reduced respiratory exchange ratio (RER) while wearing the LevitationTM, meaning that they were burning more fat stores than carbohydrates. These findings are consistent with Spring Loaded Technology’s claim that LevitationTM reduces factors known to be associated with muscle fatigue—an exciting and unique accomplishment for knee braces and the field of bionics.”
The findings also support the brace’s ability to reduce demand on the muscles in order to improve performance, with participants showing an 85 percent reduction of activity in the quadriceps muscles and a 50 percent reduction of activity in the hamstring muscles during the squat task. Study participants were also able to perform up to 20 percent more squats when wearing the brace compared to the number of squats achieved when their knees were unassisted.
This data was drawn at the Levitation™ Knee Brace’s maximum assistance level. The level of assistance is adjustable and can be tailored to the user’s needs. This allows the user to specify different settings for different activities, or if the individual is recovering from an injury, to gradually reduce the level of assistance provided to zero as they recover their full strength.
“LevitationTM was designed to go above and beyond joint stabilization to assist strength and reduce fatigue. The result is a product intended to enhance mobility and expedite rehabilitation,” said Chris Cowper-Smith, CEO at Spring Loaded Technology. “It was important to us to have a study that shows our customers what sets us apart in the marketplace as they make an informed decision about which brace is best for them.”
LevitationTM Knee Braces ($1,750 USD) are currently available for pre-order.
To learn more about Spring Loaded Technology, visit www.springloadedtechnology.com.
About Spring Loaded Technology
Spring Loaded Technology is an award-winning company that is introducing compact and high-performance bionic knee braces to the world. Based in Nova Scotia, Canada, the company has revolutionized knee bracing technology to enhance the strength and power of the leg muscles. By increasing leg strength, this technology can be used in a wide range of applications including: mobility assistance, fatigue reduction, injury prevention and rehabilitation, and performance enhancement. The company was founded in 2012.
Media Contact
Melissa Landy
Uproar PR for Spring Loaded Technology
321-236-0102 x233
[email protected]]]>
Jul 14, 2016 | News, Spring Loaded Technology
here.
HALIFAX, NS – July 13, 2016 – Spring Loaded Technology announces that it has completed its initial delivery of 60 UpShot™ bionic knee braces to the Department of National Defence as part of its $1M (CAD) contract awarded under the Build in Canada Innovation Program with the Canadian Army as the testing department. Powerful enough to help lift more than 100 pounds of body weight when worn on both knees, the military-grade braces use a liquid spring technology that absorbs shock and reduces impact on soldiers’ knees. Upon full completion of its contract, Spring Loaded Technology will have provided a total of 190 knee braces to the Canadian military for field testing.
Field testing of the UpShot™ Knee Braces will be supervised by Major Edward Jun from the Directorate of Land Requirement. Major Jun and his team will put the knee braces through rigorous testing to demonstrate UpShot’s™ integration with soldiers’ gear.
“Spring Loaded Technology’s UpShot™ promises to reduce muscle fatigue, enhance strength and performance, and protect against knee injuries—all of which are of great benefit to soldiers required to handle heavy lifting and rugged terrain. Modern militaries around the world are facing similar human factors challenges, in that we’re asking soldiers to carry more equipment in order to achieve greater capabilities during missions. At the same time, technological advances with respect to material sciences has plateaued in reducing the weight of soldier equipment such as helmets, body armour and small arms. Trialing a state-of-the art knee brace technology will help us close the gap between the soldiers’ effectiveness on the battlefield and their ability to bear heavy loads with their own strength,” said Major Jun. “We’re looking forward to testing how it performs in field conditions, and training areas across the country.”
Spring Loaded Technology has also created a commercial version of the military-grade UpShot™, the Levitation™ Knee Brace. Unlike other braces on the market, the Levitation™ Knee Brace improves strength, mobility and endurance by storing energy as the leg bends and returning that energy as the leg straightens. Currently available for pre-order on the Spring Loaded Technology website ($2,380 CAD), shipping to consumers will begin in September 2016.
“While UpShot™ is built to withstand extreme military impact and expedite rehabilitation for injured soldiers, the Levitation™ knee brace will help consumers utilize similar technology in their own day-to-day lives,” said Chris Cowper-Smith, CEO of Spring Loaded Technology. “With power-output similar to that found in $100,000 powered exoskeletons, it’s the first knee brace of its kind that can help average people crouch, walk or jump free from pain.”
To learn more about Spring Loaded Technology, visit www.springloadedtechnology.com.
About Spring Loaded Technology
Spring Loaded Technology is an award-winning company based in Halifax, Nova Scotia, which designed an entirely new knee bracing technology to enhance the strength and power of the leg muscles. By increasing leg strength, their technology can be used in a wide range of applications including: mobility assistance, fatigue reduction, injury prevention, injury rehabilitation, and performance enhancement. The company was founded in 2012.
About Build in Canada Innovation Program (BCIP)
The Build in Canada Innovation Program (BCIP) aims to make Canadian suppliers more competitive and increase their contribution to the economy. This program funds the acquisition of new, innovative products and services for testing by matched government departments in real-world environments. Innovations are evaluated and become pre-qualified for potential contracts through a competitive Call for Proposals process.
www.buyandsell.gc.ca/innovation
Media Contact
Melissa Landy
Uproar PR for Spring Loaded Technology
321-236-0102 x233
[email protected]]]>
Feb 3, 2016 | Cox & Palmer, Spring Loaded Technology, THE BIOINNOVATION CHALLENGE
In 2012, Chris Cowper-Smith, Bob Garrish and Shea Kewin were all students in a Dalhousie entrepreneurship class when they came up with a business idea rooted in kinesiology. They created a prototype of a unique knee brace for people with knee injuries to help them move better. Unlike the traditional knee braces on the market, they wanted to design a light-weight knee brace that would have a suspension system to enhance stability and support. To bring their product to market they would need to start testing their designs and gather funding to support their research.
In 2013 they gained some momentum when their company, Spring Loaded Technology was named as a finalist in the BioInnovation Challenge, a pitch competition with the possibility to win a prize package that would include $15,000 in seed funding and an advisory services package worth more than $20,000 including services provided by Cox & Palmer, Solutions Inc., Marsh Canada Limited and PricewaterhouseCoopers.
They entered their trademarked knee brace Levitation, designed with a unique mechanical hinge that stores energy when flexed and releases during extension. With such an impressive pitch and a product filled with potential they were deemed the most attractive for investment by a panel of judges dubbed The Commercialization Council and the conference audience.
Since winning the competition many other doors to investment have opened for the fledgling company. So far the company has been able to raise $3 million and has gone on to win various investment competitions including the Business Development Bank of Canada (BDC) Young Entrepreneur Award for their production of the world’s first bionic knee brace, which landed $100,000 for the Halifax company. Today the Dartmouth-based company is close to bringing their bionic knee braces to the masses and is still actively pursuing investment.