Utah start-up device firm wins cash, services in contest
The Utah Concept to Company contest for medical devices has named Promotus KMD as its grand-prize winner.
The Salt Lake City company has created a patient-controlled device that helps them recover from knee surgery. The grand prize is up to $21,000 in cash and business services.
The contest was sponsored by Grow Utah Ventures, an organization that promotes start-up businesses, and Zions Bank.
Runner-up winners that will receive cash and services of up to $9,500 each are:
Ripple • The Draper company's blink prosthesis restores eyelid motion to patients with facial paralysis. The device prevents painful dry eye complications and re-animates facial expression.
Veristride • The Lehi company's thin, flexible insoles and smartphone application provide feedback about a user's gait to help them improve rehabilitation exercises.
Service prizes are offered by Workman Nydegger, Ballard Spahr, Advanced CFO Solutions and Bio Innovations Gateway. Grow Utah Ventures and Zions Bank provide the cash prize.
The contests aim to encourage and support entrepreneurs. The contests focus on a different industry and region of the state. Since the contests began in 2008, more than $470,000 in prize money and services has been distributed, helping more than 30 companies.
More information is available at http://www.ConceptToCompany.org.