It’s the proverbial "Disneyland Sweepstakes" in the medical device world: an all-expenses-paid trip to AdvaMed’s 2013 conference will go to 1 start-up company through a scholarship contest sponsored by RCT BioVentures.
The winner will have to prove true start-up chops – a company with a great technology but not a lot of walking-around money. Ideally, RCT BioVentures is looking to fund a company still in the pre-Series-A phase.
Approximately 12 early-stage device companies have applied so far, and the winner will land a presentation slot at medical device lobby group’s annual conference in Washington D.C..
The RCT BioVentures contest addresses a noticeable trend of shrinking capital that is forcing many early-stage companies to put all cash into technology prototypes and abandon the conference circuit, according to an RCT spokesperson. And as the VC’s scholarship describes, networking is part of the business, and events like AdvaMed can make or break a bright-eyed entrepreneur’s access to future funding.
Applications for RCT’s AdvaMed "sweepstakes" have to be sent in by Aug. 16, and the winner will land a presentation slot, lodging for 3 nights and covered travel expenses.