Velox pitched this morning in the semifinals of the primeUC competition at the California NanoSystems Institute (CNSI) on the campus of UCLA. Their pitch was followed by a round of questioning from a panel of experts from throughout the UC system and from Johnson & Johnson Innovations.
primeUC is part of UC President Janet Napolitano’s Initiative on Innovation and Entrepreneurship. Each primeUC event will award seed funding to the most promising start-ups emerging from the University of California. Though this is the inaugural event, organizers plan to hold 2-4 events per year, rotating between Life Sciences and Engineering. The primeUC event will bring together 20 startup finalists to network with seed investors, and will provide prize money for the winners.
This inaugural primeUC event, focusing on Life Sciences in collaboration with Johnson & Johnson Innovation, will conclude with an event held on December 2nd at UCSF where finalists will be invited to a day-long program to pitch their company and network with active seed investors and partners. The day will culminate in announcement of the winners of a $150K grand prize and three $50K runner-up prizes across the Pharmaceutical, Medical Devices, and Consumer Health sectors. Prizes are no-strings-attached awards sponsored by Johnson & Johnson Innovation. In addition, the four winners of the primeUC 2015 program will receive legal services worth as much as $40,000 from the UC Hastings Startup Legal Garage.
Stay tuned to see if Velox makes the finals after their strong performance this morning in the semifinals!