As a medical resident, Dr. Elizabeth Clayborne saw more than her fair share of nosebleeds, most of which did not require treatment in the ER. Other than taping two tongue dispensers together to help patients pinch their noses and stop the blood flow, there wasn’t that much she could do for them. With more than 500,000 emergency room visits for nosebleeds annually, Clayborne wondered why there wasn’t a simple device to help address this issue.
Today, thanks to Clayborne’s ingenuity and the support of D.C.-based nonprofit Springboard Enterprises, which promotes women entrepreneurs in healthcare, technology and life sciences, her vision has become a reality.
Clayborne’s product, the NasaClip, provides a quick, simple solution to stop nosebleeds in a matter of minutes. Using two soft sponges and a clip, the hands-free device provides constant pressure that stops common nosebleeds. The product also has the potential to be used as an intranasal drug delivery device.
Now an ER physician who also teaches at the University of Maryland School of Medicine, Clayborne launched her NasaClip company in 2020 and was able to secure additional funding through Springboard Enterprises’ Dolphin Tank program, a pitch event for women entrepreneurs similar to the popular Shark Tank program, minus the cutthroat competition.
“Through Springboard’s Life Sciences Innovation Program, as well as the Dolphin Tank events, I had the opportunity to meet a number of potential angel investors and venture capitalists, in addition to networking with other female founders and supportive people that you can rely on when you need a particular resource,” says Clayborne, who now serves as CEO and co-founder of NasaClip. Her reusable nosebleed rescue device was officially offered to consumers on Amazon in early April.
“Our Dolphin Tank events, which we refer to as the friendly version of Shark Tank, offer women-led companies an opportunity to pitch an idea, make connections and get capital and insights from investors and advisors in their industry,” says Rachel Rong, Director of Operations at Springboard. “These are dynamic, inclusive and enjoyable gatherings created to empower women entrepreneurs and foster a strong sense of community."
Companies are selected through an application process or referral from Springboard’s partners and affiliates and are invited to present an idea or product to a panel of three or four industry experts/investors. The entrepreneur then delivers a 3-minute pitch, including a specific “ask” addressing a challenge or a unique opportunity. Solutions, connections, strategies, and opportunities for investment are then crowdsourced from the audience.
“What’s unique about our Dolphin Tanks is the engagement the entrepreneurs have with the panelists and the connections with the audience, which includes investors, other women founders and experts in the life sciences, healthcare and tech industries who are very enthusiastic about supporting the participants and can provide them with the tools and guidance needed to propel their business to the next stage of growth,” says Rong.
Over the past 15 years, more than 800 companies have presented at 150 Dolphin Tank events, held in 14 countries, 42 cities, in front of more than 8,500 attendees. Springboard, which is celebrating its 25th anniversary this year, has helped to launch more than 930 women-led companies, including 28 IPOs and 10 unicorn companies (firms with a valuation over $1 billion).
“I believe the best part of the program is the great connections that come out of each Dolphin Tank,” says Rong. “Some of our investors have included Pivotal Ventures, the philanthropic organization founded by Melinda French Gates, a D.C.-based investment firm called Revolution, and Portfolia, a woman-focused venture capital firm.”
Rong believes the engagement with fellow women entrepreneurs, in addition to the support from the local community, is the key to the program’s success.
“The strategic introductions I got through the Springboard programs were amazing,” says Clayborne. “You’re working with other founders who are in the same stage of development or in your same ecosystem, as well as getting that lift and exposure to both networking and fundraising opportunities and the expertise to grow your company, which is so important as a female entrepreneur.”
"Through Springboard’s Life Sciences Innovation Program, as well as the Dolphin Tank events, I had the opportunity to meet a number of potential angel investors and venture capitalists, in addition to networking with other female founders.” -- Dr. Elizabeth Clayborne