Prescription for Utah Medical Start-Ups: “Enter to Win $45,000 for Immediate Relief”
– Medical Device Companies get a little First Aid from Grow Utah Ventures Concept to Company Contest –
SALT LAKE CITY, September 10, 2012 – Every entrepreneur needs a little first aid when it comes to launching their new business, especially those in the highly competitive medical device market. “The medical device and technology market is often overlooked because it’s complicated and challenging,” said T. Craig Bott, President and CEO of Grow Utah Ventures. “Given the additional hoops and regulations a medical device innovator has to jump through, it can seem a bit daunting. That’s where the Concept to Company contest is the perfect prescription,” he continued. “Just apply, win the cash and services, and of course call us on the morning you succeed.”
The Medical Concept to Company contest is open to entrepreneurs with new medical devices or medical technology innovations such as disposable medical devices, drug delivery systems, imaging equipment, monitoring technologies, or any other non-pharmaceutical technology that can be used in the treatment, mitigation, diagnosis or prevention of a disease or abnormal physical condition.
From among the entries, a small group of finalists will be selected to present their ideas to industry judges. A grand prizewinner will be awarded $22,500 in cash and services. Two runner-up winners will each receive $11,250. Cash prizes are provided by Grow Utah Ventures & Zions Bank while the service prizes are contributed by Grant Thornton (financial management services), Thorpe North and Western (IP legal services), and Bennett Tueller Johnson (general legal services) which are major sponsors of all the 2012 contests.
“The State of Utah is committed to a renewed focus on our medical device industry and the C2C competition is a great way to help focus time talent and resources on the entrepreneurs in this sector, “ said Dr. Suzanne Winters, newly appointed Executive Director of the Utah’s Life Science Cluster Acceleration initiative. “Utah has a rich history in medical devices and the number and quality of medical device inventions coming out of contests such as C2C is an important component for our growth.”
What make these contest so unique are the industry experts that review and advise the innovators. “To compete for the grand prize was great, but to receive advice and input from experts in my industry was invaluable,” said Jake Hall, 2011 Medical Contest Winner. “The quality of the judges was amazing and connecting with them was just as valuable as the prize.”
In addition to the prizes, finalists will have the unique opportunity to present their winning innovations to those attending Utah’s annual MD4 Medical Device Summit which will be held at the Grand America Hotel on November 8. The MD4 Summit is Utah’s premier medical device summit gathering industry experts from across the state and the nation. This affords the contest winners with the unique opportunity for expert review and to make invaluable connections with the industry leaders.
To apply, complete a short on-line application describing the innovation. All applications must be received by October 7, 2012. For more details on this, and other “Concept to Company” contests, visit www.ConceptToCompany.org
About Grow Utah Ventures
Grow Utah Ventures, is a privately funded, non-profit organization dedicated to accelerate the creation of innovative, entrepreneur-led, high-growth businesses that will strengthen and expand the future growth of Utah’s economy. The vision of Grow Utah Ventures is to create a robust entrepreneurial eco-system in Utah that fosters entrepreneurial talent, drives innovation to solve market needs, aligns community resources and support, and ensures funding for products, entrepreneurs and businesses of promise.
The Concept to Company competitions, hosted by Grow Utah Ventures, are Utah’s premier ongoing innovation contests. They are held in various regions across the state and are focused on specific industries. To date, the contests have distributed more than $580,000 in prize money and services and have helped launch over 85 companies.
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Twitter: @groutahventures ; #GrowUT
PR Contacts:
Justin Bott
Grow Utah Ventures
(801) 593-2269
info@growutahventures.com
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