Preciva taps crowdfunding for prototype development
By Christina Williams
Sustainable Business Oregon editor
Preciva's founders, Anaïs Tuepker and Craig Miller, raised money online to finish development of the company's electronic cervical cancer screening test.
Preciva, a startup from Portland State University's Social Innovation Incubator, announced this week that it raised just over $11,000 using the website StartSomeGood.com.
The startup, a certified B Corporation, will use the cash to finish development of its prototype for an easy-to-use electronic cervical cancer screening tests.
Preciva's founders plan to develop the testing devices and distribute them for use in low-income countries such as India where a fourth of all deaths from cervical cancer occur.
"This is an impact-driven business," said Anaïs Tuepker, Preciva cofounder. "We want our technology to be accessible to women, for it to be low cost and highly accurate."
Tuepker said Preciva's startup funds have come from friends and family but the startup turned to crowdfunding to reach the goal of developing a working prototype.
"When we went to investors they said, 'Wow, you're really early,'" Tuepker said. "But when we talked to women and to lay people and told them what we were trying to do we were met with a lot of enthusiasm."
Through StartSomeGood.com, which is a site geared toward raising money for social entrepreneurs, Preciva set a stretch goal of raising $21,600, with a basic goal of at least $10,400. The company ended the six-week campaign with $11,430. Tuepker said that will cover the cost of prototype development.
Preciva won $3,000 in a business plan competition in 2011 and has been a part of the PSU Social Innovation Incubator since it was launched in 2010. Preciva and Sustainable Harvest, which this month received a Sustainable Business Oregon innovation award for its work on the coffee supply chain, were the initial two companies that joined the incubator.
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