By Tom Ballard, Chief Alliance Officer, PYA
Eric Mayer is headed to China next month.
The Chief Executive Officer of Knoxville-based EDP BioTech Corporation was invited to compete in the “InnoSTARS Competition Semi-Final for Biomedicine & Medical Device Group” event June 14-15 in Suzhou.
The invitation came after Mayer participated in one of seven regional competitions around the country hosted by InnoSTARS. He traveled to Atlanta; the other locations were Boston, Chicago, Denver, Houston, San Francisco, and Seattle.
“I learned about the regional opportunity from Elizabeth (Rowland) of the TN-China Network,” Mayer said. “I did not think we would even qualify.”
Not only did EDP BioTech make the regional, but it so impressed the judges that Mayer received the invitation to compete against about 20 other semi-finalists in the biomedicine and medical device category. Those companies will be coming from the other six U.S. cities and 11 Chinese regional competitions.
As described on the InnoSTARS webpage, the competition “is a platform that connects U.S.-based innovators and companies with Chinese investors, corporations, and strategic partners. There is a strong interest between companies and investors on either side of the Pacific to engage in business with each other and in turn bring innovative products and services to the market. However, limited information on consumer demand and market opportunities, fragmented investment resources, and challenging language and cultural barriers can make the cross-border process complex and difficult. InnoSTARS is here to help overcome these obstacles.”
Those opportunities to better understand the Chinese market are very attractive to EDP BioTech.
“It’s a nominal cash prize, but what’s really important is it gets us in front of med device investors,” Mayer said. “I’m going with an open mind and not superhigh expectations. It’s an opportunity to get the lay of the land.”
The event is co-hosted by the U.S. China Innovation Alliance, China Science and Technology Exchange Center, China Association for International Science and Technology Cooperation, and supported by the Ministry of Science and Technology of People’s Republic of China.
EDP BioTech’s focus is on detection of early stage cancers and precancerous polyps. You can click here to read our March update on the company.