The deadline for the MedTech Color annual pitch competition is near as the organization seeks to advance the representation of persons of color in medtech.
MedTech Color, a non-profit organization, aims to find cutting-edge, early-stage startups led by African-American and Hispanic founders. Its pitch competition offers minority entrepreneurs an opportunity to showcase products or services.
Application submissions remain open through Friday, Jan. 13. MedTech Color plans to announce the top 10 finalists on Jan. 24, 2023. The competition seeks innovations and medical and/or wearable devices, diagnostics, digital health, health security and more. Companies are in their seed stage, raising equity rounds in the amount of $250,000-$3 million.
“To address the disproportionate gap in venture funding, the MedTech Color Pitch Competition provides direct support to startups led by Black and Brown founders through capital funding and mentorship from industry leaders,” said Kwame Ulmer, founder of MedTech Color. “Black entrepreneurs receive less than one percent of total venture funding. By providing resources to these innovative companies, we are leveling the playing field and ultimately changing the medtech industry to be more representative of the population served.”
The pitch competition enters its third year in 2023. This iteration offers a $75,000 prize to the first-place winner. Second place receives $50,000, and third receives $25,000. A $5,000 prize remains available for the “community impact audience choice.”
MedTech Color’s program offers a pitch BootCamp in the form of a one-month pre-competition accelerator. It also offers venture capital speed interview sessions and masterclasses facilitated by sponsors.
ResMed, MedTech Innovator, California Life Sciences (CLS), DeviceTalks Podcast, and Harvard Catalyst Post Graduate Education Transcend program all provide special prizes and benefits as sponsors.
CLS will also select one California-based company to fast-track into its 2023 review and coaching program.