Eccrine Systems is developing advanced sweat sensors for use in medicine, industry and sport. The company was founded in 2013 to commercialize technology and intellectual property that was exclusively licensed from the University of Cincinnati. CincyTech led the company’s seed round of financing and has helped it to grow.
Bloomberg asked the market research firm Quid to apply relevant criteria– questions including: Is the business in a hot sector, one where many other new startups are also focusing? Has it raised funding at a quick pace?– to a pool of 50,000 startups and pull out the 50 most promising.
“It’s very exciting that smart sweat sensors are being recognized as one of the most promising opportunities in the world,” said Eccrine Systems CEO Robert Beech. “Fortunately, we got out of the gate early in the space thanks to strong support from the CincyTech investor community and the State of Ohio’s Third Frontier initiative. Eccrine Systems and the Cincinnati region are now the epicenter of this rapidly emerging opportunity and it’s wide range of commercial and medical applications.”
Bloomberg reports Quid last made a list like this in 2009. “Nearly eight years later, the list had its share of flops—companies that shut down or lost value—but some notable home runs as well. Cloudera, Palantir, Evernote, Twitch and Spotify all increased at least 30 times in value since 2009. If (the) list had been a venture portfolio, it would have been one of the best-performing funds of the last two decades.”