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2023Business PlanICAPNorthern VirginiaStart-up

NIRView Biosciences

Amanda Forrester March 7, 2024

NIRView Biosciences brings academic research to market with the SBDC

Received more than $100,000 in funding from numerous grants and events.

https://nirviewbio.com/

Shrishti Singh completed a doctorate degree in bioengineering at George Mason University (GMU) in December 2022. With support from her GMU mentors, she created a promising new imaging technology with potential to impact many lives — including her own.

After finding an injectable contrast dye that enhances healthcare imaging capabilities, under the mentorship of Dr. Remi Veneziano, Assistant Professor of GMU’s bioengineering department and Dr. Parag Chitnis, director of GMU’s bioengineering Ph.D. program, Shrishti shifted her career focus from scientific research to entrepreneurship. With a vision to take her groundbreaking technology “from the research bench to the patient’s bedside,” she co-founded NIRView with Dr. Veneziano and Dr. Chitnis.

During the last year of her PhD, with a novel product and trusted mentors at her side, Shrishti sought out a business advisor for the entrepreneur piece of the puzzle. A consultation with the Mason SBDC connected her with the ICAP Life Science Mentor Elizabeth Pyle, whose work with the Virginia SBDC’s Innovation Commercialization Assistance Program (ICAP) aligned perfectly with Shrishti’s technology and entrepreneurial vision.

Virginia SBDC-ICAP helps Virginia-based technology and innovation-driven startups like Shrishti’s move from idea to launch, offering advising, training and pathways to funding. Elizabeth and Shrishti’s first meetings were to understand the technology, followed by more concrete business planning.

“After Shrishti and her mentors had conducted 20 customer interviews, we realized there was something to develop as a business,” Elizabeth adds.

After completing the Virginia SBDC-ICAP cohort, Elizabeth guided Shrishti and Dr. Remi Veneziano through the I-Corps Program created by the National Science Foundation (NSF) to help move academic research to market. Shrishti’s faculty mentors, have since received funding from a number of sources, including the Virginia Innovation Partnership Corporation Commonwealth Commercialization Fund ($75,000), an NSF I-Corps National Grant ($50,000), and an NSF I-Corps Site Grant ($3,000) to take the technology forward. Shrishti won the top award at the 2023 Patriot Pitch Competition ($6,000) and the event’s Mason’s Choice Award ($1,000).

“The SBDC introduced me to a whole new world,” Shrishti states. “The ICAP Program showed me that while you might have the best technology, if no one wants to buy it, you don’t have a business.”

Additionally, Shrishti was recently nominated for the Forbes Under 30 Summit and has shared her experience as an entrepreneur through several interviews, including the PhD Talk Show podcast episode “From PhD to Entrepreneurship: A Researcher’s Journey of Turning an Idea into a Reality.”

As Shrishti and her team continue to lay the groundwork for the 2024 incorporated NIRView, she plans to use the Prince William County Innovation Park, a university-centered research park anchored by George Mason University, to continue developing her product. This will allow NIRView to progress toward a full launch while Shrishti continues to seek additional funding sources.

“Starting from this space, we hope to expand and enhance the realm of healthcare imaging,” Dr. Veneziano says.

Shrishti and her team note their appreciation for all the assistance they received from the SBDC. “The support we got from the SBDC was amazing,” Dr. Chitnis adds.

“Learning the business end was a bit scary for me,” Shrishti concludes. “Having someone like Elizabeth to rely on — that support was extremely helpful for all of us.”

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