Story excerpt provided by Greater Wilmington Business Journal
Written by Jenny Callison
A late-stage startup in Wilmington has received a $75,000 award from Innovation Fund North Carolina in tandem with the Kauffman Foundation. The grant was announced this week, according to a news release.
The grant process was competitive, according to the release, with 59 applicant companies. GO2 was one of two $75,000 winners in the later stage startup category and five in the early stage category, each of which received a $25,000 grant.
GO2 LLC – founded in 2010 by Jim Hundley Jr. and his father, James, a retired orthopedic surgeon – manufactures and sells the CV2: a non-invasive, low-resistance medical device the company says helps increase blood flow and reduce pain and swelling in the lower extremities of the body. It’s designed for people with poor circulation.
Hundley said in an interview earlier this year that 68 million Americans suffer from conditions with symptoms that the CV2 can alleviate. These conditions include chronic venous insufficiency, deep vein thrombosis, restless leg syndrome, edema and peripheral arterial disease.