Two companies really caught my eye at Y Combinator Day this year. They are both blending profit and purpose, and if successful they will create significant impact in the sectors of health and employment.
Mission: To create a fast, non-invasive, inexpensive, precise and globally accessible tool for brain health screening and monitoring. This will help millions of people worldwide who suffer from brain diseases to be diagnosed early and get cured.
Darmiyan reduces the cost and time it takes to test for early-onset Alzheimer’s disease. Anyone over the age of 45 should be tested, and the company has already tested 3,000 patients. Even before getting submitted to the FDA, the company has signed up a $1 million contract.
Currently, there are 26 million Americans who should be tested, and each test costs $500, which means a potential $13 billion market for the company.
Mission: To find employment for the 70 million Americans that have criminal records.
There are 70 million Americans with a criminal record in this country and when it comes to finding employment, things can get complicated. It’s a 75% chance that someone released from prison or jail will return, within five years. Nearly all will be unemployed when re-arrested. On the platform, employers know applicants have records. There are no surprises. They have jobs to fill and want to access this huge, untapped pool of labor.
Founder Richard Bronson knows some of the challenges facing the recently incarcerated, as he spent two years in a federal prison after being convicted of securities fraud in 2002. Since then he has joined with Defy Ventures to help formerly incarcerated people get a second chance through entrepreneurship. “What we do is use advanced insights to connect ignored talent with jobs that companies can’t fill,” Bronson told the crowd of investors. The startup is starting its efforts with job recruitment, working with companies like Uber, but Bronson hopes the startup becomes a hub for providing services to those with a criminal record.
See all 50 companies from Y Combinator Demo Day at TechCrunch.