July 2021 Newsletter

Beyond the Numbers

July 2021

PPP Loan Forgiveness Applications Due

If you received a PPP Loan and spent the funds properly, the loan is fully forgivable, but you must submit the application within 10 months after the last day of the "Covered Period".

Things to know:
  1. It is highly recommended that you apply for forgiveness before the first PPP loan payment is due
  2. The "Covered Period" is 8 or 24 weeks after the disbursement of the PPP funds. Once that period ends, your loan payments are deferred for 10 months
  3. If you do not apply for forgiveness within 10 months after the last day of the "Covered Period", then the PPP loan payments and interest are no longer deferred.

Update!

On July 15th, 2021 Quickbooks Online updated their prices for all new subscriptions, upgrades, and downgrades. On August 1, 2021 QBO prices will increase for all current subscriptions. Prices for Quickbooks Online Essentials will be $50/month, Plus will be $80/month, and Advanced will be $180/month.

FemTech is On the Rise!

Summertime is always the best of what might be, and with FemTech the possibility of having a child just went up. Due to the pandemic, there has been a spike in egg freezing and what some are calling the “global baby drought.”
 

The companies listed below are working to disrupt the old markets and are attracting venture investment through concepts like hormonal birth control and AI-assisted in vitro fertilization.

  • Modern Fertility – a five year old startup has acquired $225M by Telehealth startup Ro for their pregnancy tests that you can find at retailers like Walmart
  • Sera Prognostics – raised $100M for its advanced pregnancy test that delivers biomarker information
  • Tulip – raised $1.7M for it’s database of 20k egg donors that is supported by blockchain technology
  • Alife Health – raised $9.5M to develop AI enabled software to assist with in vitro fertilization
  • Orchid – Raised $4M to advance its preconception genetic screening
With many more companies and startups on the rise, the future of Women’s Health could be brought to the next generation by bringing FemTech to the current market.

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On the Books Recommendations (Books, Podcasts, and More!

July Podcast: For Starters: What Does – And Doesn’t – Really Matter When You’re Launching

Join our very own Venus Liles in this episode of For Starters as she helps debunk some of the biggest myths as well as revel some of the most prevalent misconceptions that entrepreneurs have when starting their company. A golden nugget from Liles, “Don’t let perfection be the enemy of good,” is just one of the many insights in this episode. To hear more listen here.

July Book:  It Doesn’t Have to Be Crazy at Work

This book rejects the idea of long hours, aggressive hustle, and the “whatever it takes” mentality that American culture has convinced businesses owners to have in order to be successful. From the authors of New York Times bestseller Rework, and the founders of Basecamp, read how they believe it is time to stop celebrating Crazy and to start celebrating “the calm company.” Learn more about how to break the traditional business idea that more hours = more productivity here.

Upcoming Events:

Flywheel Indeavor Lunch - July 20th @ 11:30-1:00pm - Clay Johnson and Winston-Salem Partners Roundtable Fund are providing seed-stage funding to companies in Winston-Salem area with scalable business models.

Dig South Tech Summit 2021 - July 28th-July 30th - Held in Charleston, SC, it is the South's first and foremost gathering dedicated to founders, entrepreneurs, experts, and executives.

NC Idea Fall 2021 Grants Information Session: Triad - August 4th @ 5:30pm-6:30pm - This will be an information session hosted by NC Idea on their two upcoming grant opportunities ($10,000 and $50,000) that will be supporting ambitious, growth-oriented companies.

NC Tech 2021 Leadership Summit - August 12th-August 13th - Executives across North Carolina will gather and address various topics from talent and leadership to the economy including keynote presentations, interactive panel discussions, and networking.

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