PA Biotech Center to hold $250K pitch competition

Calling all biotech companies and entrepreneurs. The Pennsylvania Biotechnology Center (PABC) will be holding its 10th Annual Biotechnology Spotlight featuring a July pitch competition with a first-time incentive of $250,000.

According to the PABC website, “more than one hundred scientists, entrepreneurs, business leaders, biotech investors” will attend the Entrepreneur Spotlight.

Participants will be asked questions by a panel of finance and biotech experts, and also the audience. Panelists and audience members will then be tasked with ranking the companies based on the competitors’ answers via a digital app.

Three biotech companies from the applicant pool will be provided with a high-visibility platform after participating in the competition.

The first-place winners will receive the investment of $250,000 provided by the Hatch BioFund, which is the PABC’s affiliated capital venture fund. The second and third place prize winners will receive a one-year membership at the PABC and related business development opportunities.

This is the first time the event has included an investment for the winning company. Lou Kassa, CEO of the Pennsylvania Biotechnology Center, Hepatitis B Foundation and Blumberg Institute said, “It’s the 10th anniversary of our Entrepreneur Spotlight and we wanted to do something special to celebrate … Nothing like this, to my knowledge, has been done before and I believe it can be a game-changer and signal to other life sciences communities that the Greater Philadelphia region is very serious about advancing our industry.”

He went on to say that “the three companies that pitched every year received great exposure, feedback and, in some cases, direct investment. The event has been extremely successful, and this new approach will hopefully set the standard for years to come.”

The event will be held at the PABC in Doylestown on July 18 from 3 p.m. to 5 p.m. Applicants should reach out to PABC event manager Maura Delaney (maura.delaney@hepb.org) by June 19 with their company name, description, and URL.

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