Ever wanted a vote on whether an emerging company should get venture capital money? Youll have your chance Nov. 16 during Ben Franklin Venture Idol.
The annual event, slated to take place at Lehigh University in Bethlehem, will feature three companies that Ben Franklin Technology Partners will pick from the clients it has worked with for a few months.
Each business will make short pitches to a panel of three investors who will provide constructive criticism, and the audience will vote on their favorites. The top winner will get a $5,000 investment, but its unclear how much the second- and third-place recipients will get.
Bob McHugh, manager of capital access at Ben Franklins Bethlehem office, says the event usually draws a mixture of college students, investors, lawyers with expertise in intellectual property, and fellow entrepreneurs.
“These companies can see what it’s like to be under the gun,” McHugh says.
Past winners include Third Eye Diagnostics, a Bethlehem company developing a non-invasive monitor to gather information about patients’ eyes, and Apeliotus Vision Science, a Hershey firm working on a diagnostic tool to detect age-related macular degeneration.
The Venture Idol event will be preceded by an invitation-only speed-dating event in which companies can give five-minute presentations to potential investors.
Sources: Laura Eppler and Bob McHugh, Ben Franklin Technology Partners of Northeastern Pennsylvania
Writer: Rebecca VanderMeulen