The Tech Transfer Challenge Prize provides $100,000 worth of mentorship and business support services to a group of Virginia Tech faculty, staff, students and/or alumni proposing to establish a business in Blacksburg, based on Virginia Tech-owned technology.
Blacksburg-based business incubator VT KnowledgeWorks has announced the winning team in an initiative to accelerate innovative technology transfer from the university to the private sector.
The Tech Transfer Challenge Prize provides $100,000 worth of mentorship and business support services to a group of Virginia Tech faculty, staff, students and/or alumni proposing to establish a business in Blacksburg, based on Virginia Tech-owned technology.
The winning entry, VoltMed, submitted by Paulo Garcia, Chris Arena, and Mike Sano, is developing a high-frequency irreversible electroporation device for use in treating soft tissue tumors in veterinary applications, with the initial focus being the treatment of equine malignant melanoma.
VoltMed will receive corporate and personal mentorship from the VT KnowledgeWorks executive director and its director of strategic services.
The VT KnowledgeWorks Strategic Services team performs various strategic studies and develops presentation materials and formal plan documents needed for product launch and investor discussions, including financial pro-formas.
The VT KnowledgeWorks network of early-stage investors provides introduction to a wide range of funding opportunities.
Services will be provided over a two-year period, and include assistance in developing the overall business strategy as well as the presentations and plan documents needed for investor discussions and product launch.
The venture receives complimentary membership in VT KnowledgeWorks for two years and key team members will attend a Founders’ Readiness Express workshop.
VT KnowledgeWorks, a subsidiary of the Virginia Tech Foundation, is based at the Virginia Tech Corporate Research Center in Blacksburg..
Source: Virginia Business
