Tuesday, July 15, 2025

Performance Medical Technologies Developing the Future of Medicine

In 2018, Harper Thomas had recently parted ways with a former business partner in the performance medicine space and was searching for a path forward. This led to the creation of Performance Medical Technologies (PMT), a biotech startup now developing a mitochondrial restoration therapy aimed at slowing Parkinson’s disease progression.

With a background in concierge medicine serving elite patients and NFL athletes, Harper became disillusioned by the lack of FDA compliance in some operations. Seeking a more legitimate, scalable path, he turned to the SBDC for help with investment materials and business planning. Soon after, he met his business partner, Kurt Wassenaar—a seasoned medical tech executive—who encouraged him to pursue clinical validation.

Harper relocated to Charlottesville and connected with the Central Virginia SBDC, which recommended applying for ICAP, Virginia’s Innovation Commercialization Assistance Program. That suggestion proved pivotal. “Customer discovery became the bedrock of our business,” Harper said.

A follow-up meeting with CVSBDC opened another door: an international startup mission to Trieste, Italy. In just one week, PMT met with 25 stakeholders, including regional health officials and molecular scientists. The Italian government offered lab access, grants, and co-investment. PMT became the first American recipient of their grant and began a partnership with the University of Trieste. Clinical trials are set for early 2026, with pilots running simultaneously in the U.S. through VCU and in Italy.

Though navigating dual regulatory systems is complex, Harper and Kurt remain focused. “We want to develop an approved therapy that slows progression—especially in the early years when patients are told there’s nothing to be done.”

Through every step, the SBDC has been a vital partner—from ICAP and international connections to workshops on IP, business planning, and marketing. “You could pick out a list of all the SBDC’s offerings, and there’s overlap with us for every one,” Harper said.

“Anyone with an idea—or even a hunch—should start at the SBDC. Even if they think they know the best path, the SBDC can help them find the right one.” - Harper Thomas, CEO

Meet the Winners of Culpeper Competes!

Earlier this year, the CVSBDC helped mentor the cohort for this year's Culpeper Competes pitch competition, put on by the Town of Culpeper Tourism and Economic Development Department. Our advisors led multiple training sessions to get participants prepared and confident about their pitch. After several weeks of prep, 7 finalists presented to a panel of judges and a room full of friends, family, and peers at the end of June. Our 4 winners each took home a share of the $30,000 grand prize to help their businesses reach their full potential.

Brent Blackwell - 2BQ - $10,000

2B-Q delivers upscale churrasco-style and smoked meats through premier catering and pop-up events. Known for high-quality cuts like their signature picanha, paired with vibrant Latin-inspired flavors, 2B-Q elevates community dining experiences.

Darin Morgan - Darin's Event Catering ("Tha Muncheez") - $10,000

Tha Muncheez is a bold, flavor-forward food truck and catering brand known for street-style comfort food with a chef’s touch—from gourmet wings and burgers to signature CheezSteaks.

Audrey Curtis - Haute to Trot - $5,000

Haute to Trot is a women-owned boutique offering luxury consignment equestrian apparel and tack. With a focus on quality, sustainability, and refined country style, it brings unique value to downtown shoppers.

Christina Flores - Ducking Gravity - $5,000

Ducking Gravity is a downtown Culpeper aerial arts studio offering movement-based wellness classes for all ages and abilities. Through aerial fitness, the studio fosters creativity, confidence, and community in a supportive environment.

SMALL BUSINESS NEWS

IRS Tip - Hobby or Business?

Hobbies and businesses are treated differently when it comes to filing taxes. The biggest difference between the two is that businesses operate to make a profit while hobbies are for pleasure or recreation.

One question to consider when determining if they have a business or hobby is whether there is an intent to make a profit and do they depend on the income for their livelihood?

People should consider a few other things when deciding whether their project is a business or hobby, including reviewing the Code of Federal Regulations. No single thing is the deciding factor. Taxpayers should review all the factors to make the best decision.

Virginia Rural Opportunities Dashboard

The Virginia Rural Center has launched the Rural Virginia Opportunity Dashboard, an innovative digital platform designed to empower rural communities across the Commonwealth. The dashboard provides comprehensive, data-driven insights into critical sectors such as demographics, housing, education, business, and health. The platform features interactive asset maps that highlight essential infrastructure and community resources, helping local leaders visualize opportunities and challenges in rural Virginia.

Click here to learn more.

FUNDING OPPORTUNITIES

An SBDC advisor can assist you in applying for this loan. Request an appointment here.

BioSpark Pitch Competition

BioSpark is a high-energy, live pitch event spotlighting emerging life sciences startups, held during the annual BioDiscovery Summit. Co-hosted by CvilleBioHub and Cooley, this competition offers founders the chance to showcase their innovation, gain visibility, and connect with investors and industry leaders. Companies will be competing for a $10,000 grand prize and in-kind professional services. Applications close August 15th.

For more information and to apply.

Every program of the Virginia SBDC is open to all members of the public.

Spots are filling quick for our Charlottesville AI Training!

Friday, July 18th | 9 - 11 AM | CVSBDC Office

Bo Grist, CV SBDC Director, e-commerce specialist and AI enthusiast, is bringing hands-on AI training to a county near you. Within 2 hours, attendees will be able to log in to their own AI account and perform a minimum of 10 tasks that can automate business processes and save a minimum of 5 hours per week. While all are encouraged to attend, the exercises will focus on helping entrepreneurs with little or no AI experience learn how to leverage these amazing platforms. Attendees are strongly encouraged to bring a laptop or tablet to the training and the instructors will lead attendees through the process of creating their own personal, free account.

Register here

Webinars from the Virginia SBDC Network

Access the CVSBDC Events Calendar and 

statewide training offerings for even more learning!

Virginia Chamber Region 9 Blueprint Meeting

July 23 | 11 AM - 1 PM | Charlottesville, VA

Citizens in all corners of the Commonwealth are also encouraged to participate in the Blueprint Virginia 2035 Regional Tour, a key opportunity to engage in shaping Virginia’s economic future. These events provide participants with a unique opportunity to hear directly from Cathie J. Vick, the new President and CEO of the Virginia Chamber of Commerce. She will deliver an exclusive economic update, offering valuable insights into statewide trends, as well as region-specific developments. Most importantly, attendees will have the opportunity to engage in open discussions and contribute policy recommendations that reflect the priorities and needs of their region and industry.

For more information and to register.

Central Virginia SBDC

Your Partners in Business:



​Supporting Small Business - from Startups to International Expansion

Serving the City of Charlottesville and the Counties of Albemarle, Culpeper, Fluvanna,

Greene, Louisa, Madison, Nelson, Orange, Rappahannock.

Meet With Us

The Virginia SBDC Network is funded in part through a cooperative agreement with the U.S. Small Business Administration, George Mason University‐Mason Enterprise, and local host institutions. The Virginia SBDC is nationally accredited by America’s SBDC.

All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Business owners can access the services of their nearest SBDC at VirginiaSBDC.org.