Beating out the competition, UCI Applied Innovation startup Velox Biosystems presented their winning pitch at the third annual UC Entrepreneur Pitch Competition in Monterey, California.
The UC Entrepreneur Pitch Competition offers UC-affiliated startups the opportunity to present their companies to a panel of business leaders and venture capitalists for the chance to win $15,000. Participants present in either the early-stage track for startups in funding round pre-Series A or the late-stage track for startups in Series A and beyond.
Byron Shen, CEO of Velox Biosystems, gave the pitch in which he stressed the importance of their technology and its ability to combat the rise of antimicrobial resistance through rapid diagnosis, which enables more informed treatment decisions. The company – founded on UCI technology – has developed a miniaturized point-of-care prototype device that provides rapid, cost-effective detection of bacteria for the diagnosis of urinary tract infections (UTI).
With the pitch that beat out five other finalists and many more semifinalists in the early-stage track, Shen knows the win goes beyond the monetary prize.
“Having worked at a great Fortune Global 100 company myself, I feel this win is especially meaningful,” said Shen. “It shows that our idea is validated by people who understand how a real business is run and that it can be successful.”
Shen and his team aim to follow up their UTI detection platform with a platform for detecting cancer biomarkers and another for the detection of sepsis, or bloodstream infections.
*Featured Photo courtesy of: Velox Biosystems.
Pictured: Byron Shen, CEO of Velox Biosystems, and Christine Gulbranson, senior vice president and chief innovation officer for the University of California.