As the medical technology space gets more and more saturated it is becoming harder for new startups to get noticed. RCT Ventures has come up with a creative way to address this problem with its MedTech idol event. Now in its second year, the contest looks to single out promising new startups and give them exposure, resources, and networking opportunities that they might not otherwise receive through conventional means.
The next competition is on April 9th and for the first time will be held in Europe. Registering is easy, and the deadline is February 24th. A group of 10 semi-finalists will be selected by a panel of venture capitalists and investors from the applicant pool. The semi-finalists get free registration for IN3 Medical Device 360° in Dublin (an over $1000 value). The 10 semi-finalists will appear on stage in front of a panel of three expert judges and a live audience. After hearing each contestant’s pitch, the judges will select 4 finalists. The audience will then vote on the winner based on which company they feel will be most successful at market. The winner is featured as a presenter at the IN3 Medical Device 360° Summit in San Francisco and will also be profiled in the medical venture review magazine “START-UP.”
Previous winners include LIM Innovations, a company looking to streamline prosthetic socket fitting and adjustment, and FLI, a company that makes a device which facilitates performing anterior total hip arthroplasties. Both previous contestants stated that the competition gave them a unique opportunity to be validated by an unbiased group of peers.
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