Starting a business can be a winding journey filled with unexpected turns. For Joanna Shu, co-founder of FreezeNit Inc, her path from finance to founding a life sciences company aimed at combating head lice was anything but traditional. Joanna recently shared her entrepreneurial journey with HAYVN Hubcast host Nancy Sheed, offering valuable insights on career pivots, resilience, and startup fundraising.
Joanna’s career began in finance at Fidelity’s trading desk, but she soon realized it wasn’t her true passion. Following her interest in skincare, she launched Refresh Skin Therapy, a natural skincare brand that gained retail success at stores like Costco and Walmart. After Shu sold her interest to her business partner, she faced the challenge of redefining her career. What do you do once you’ve been a CEO?
Her entrepreneurial spirit led her to partner with Dr. Carol Spangler Vaughan, whose scientific research on cooling technology inspired the idea behind FreezeNit, a device using CO2 gas to treat head lice. Despite not having a background in biology, Joanna leveraged her expertise in consumer products to cofound FreezeNit.
Like many entrepreneurs, Joanna found significant hurdles to fundraising, especially as a female-led startup in a competitive life sciences market. She explained that less than 2% of venture capital goes to female founders. Facing the odds, she embarked on a pitch competition tour, earning seven checks from various contests including the most recent HAYVN Hatch event!
Takeaways from Joanna’s journey:
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Embrace Feedback and Adaptability: Joanna emphasizes the importance of seeking feedback and staying open to new approaches as key elements of her entrepreneurial journey.
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Leverage Support Systems: She actively participates in accelerators and collaborates with pitch coaches to refine her skills and gain valuable insights.
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Seek Innovative Tools: Joanna uses cutting-edge resources like AI-based feedback tools, including Virtual Sapiens, to enhance her pitch performance and drive progress for FreezeNit.
The company is now navigating FDA approval while Joanna is laying the groundwork for strategic partnerships with urgent care centers and lice treatment services. Her dream is to see the FreezeNit device on store shelves, bringing a non-toxic, efficient lice treatment option to families.
Joanna’s entrepreneurial journey is a testament to embracing change, leveraging past experiences, and persisting through obstacles. She sees FreezeNit as a great resource for families, providing a solution for a problem that’s not life-threatening, but one that can cause chaos and is often misunderstood. Staying curious, creative and flexible is part of her on-going strategy to bring FreezeNit to market.
Connect with Joanna Shu on LinkedIn
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