Columbia-based TEDCO has selected NasaClip to receive a $500,000 Social Impact Funds investment. Based in Baltimore, NasaClip is a woman- and minority-led business creating a new device to support a more efficient, cost-effective solution for nosebleeds.

The hands-free device provides constant external nasal pressure and intranasal sponges that can be medicated to help stop nosebleeds fast. The FDA-registered device was designed to be kid-friendly, portable and easy to use.

Earlier this year, NasaClip received another investment from TEDCO, that time from its State Small Business Credit Initiative funding. NasaClip also participated in one of TEDCO’s SBIR/STTR Proposal Lab cohorts, where they went on to submit a winning proposal receiving a $256,000 SBIR grant from the National Science Foundation.

“Nosebleeds are common, and often don’t require medical intervention. In fact, with emergency treatment many patients end up walking out of the hospital later than anticipated and in more pain than when they entered,” said Dr. Elizabeth Clayborne, CEO and founder of NasaClip. “Thanks to TEDCO’s investment, we can continue our efforts to provide a more timely, efficient and cost-effective solution for patients, allowing them to get treated from the comfort of their own homes.”

TEDCO’s Social Impact Funds are designed to engage and invest in economically underserved founders and communities. Through this intentional design, TEDCO continues to work towards a more diverse and inclusive entrepreneurial community in Maryland.