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topicnews · October 23, 2024

Video: Why this startup CEO never took outside capital

Video: Why this startup CEO never took outside capital

Ashley Tyrner, CEO of FarmboxRx, founded her nutrition startup after receiving food stamps and being a single mother. Now, she says, she has built a profitable business that meets the nutritional needs of Medicare and Medicaid enrollees, but without raising a penny of outside capital.

Tyrner leverages the concept of food as engagement by using the food box as a means of communicating with members. The box can, for example, contain educational materials about diagnostic check-ups or how to deal with the disease. The food box can include mixed produce, lean proteins, foods to support chronic illness, as well as boxes that contain culturally appropriate foods or ingredients – for example, Latino members can receive cilantro as an ingredient in their food box.

On this trip, she never accepted money from outside sources – a conscious decision she made. Why? Listen to Tyrner explain this decision in an interview this week.