First-time entrepreneurs practice pitching to investors
“Flesh out the product more.”
“Promote more of the data.”
“Know your audience.”
“Give us milestones, and how you will meet them.”
Part of being an entrepreneur means pitching your company to investors and receiving feedback, and those four are just some of the suggestions seven startups received as part of the “Successful Entrepreneur” investor pitch event that took place at TMCx May 6.
Each of the entrepreneurs were wrapping up a course called “Business Innovation for Successful Entrepreneurship” that is a partnership between The University of Texas Medical Branch at Galveston (UTMB) and The University of Texas McCombs School of Business.
The course is for graduate students, post grads, medical students and doctors to get a feel for what is involved in launching a startup business, said Stan Watowich, Ph.D., associate professor in the department of biochemistry and molecular biology at UTMB and course director.
Students are introduced to various technology transfer offices and are able to learn about inventions not yet licensed. They can pick one and go through the process of developing a startup that could turn into a product.
“They want to make a transition from academic science to the business world,” Watowich said. “Our goal is to provide guidance on business and medical topics so they understand the process and what they have to do.”
Seven judges representing academia, the industry and investors were asked to provide “hard-nosed, realistic feedback” to the presenters.
The startups that pitched included:
- 2nd Skin Medical: pressure fabric sensor to prevent pressure ulcers
- Ridgeline Therapeutics: “fat” targeting oral drug
- Seremedi: CareScriptions platform to prevent rehospitalization
- Comics Technology Corp.: blood test to detect early-stage cancers
- Hopecare: platform for communicating end-of-life-decisions
- CBS Therapeutics: colorectal cancer drug
- Ovodex: personalized medicine for cancer treatments
Pitching in front of an audience was new for Deqiang Sun, chief technology officer of Gomics, however, he said the judges’ suggestions were good.
“It was exciting,” he said. “I was excited to be able to introduce what we are doing.”