Each year, the Jefferson Parish Economic Development Commission invites entrepreneurs to apply for the annual JEDCO Challenge, a pitch competition highlighting ideas with the potential to grow and positively impact Jefferson Parish.
Five finalists competed in the challenge in May for $20,000 in direct capital and additional in-kind business services to help them grow.
Biotech startup Instapath won the 2018 JEDCO Challenge.
“Instapath makes a digital microscopic imaging system that provides an exact picture of whole biopsies at high resolution within seconds to ensure the quality of biopsies,” shared JEDCO. “By improving the accuracy and workflow of rapid on-site evaluation of biopsies, Instapath reduces the need for repeat procedures and increases operating room capacity and hospital revenue.”
JEDCO also shared what a busy and exciting couple years the company has had. Instapath “recently won the $25,000 Texas Medical Center Accelerator Prize and a $15,000 Women’s Health and Wellness Prize at the 2018 Rice Business Plan Competition. Instapath took first place in the International Business Model Competition, Louisiana Get Started Pitch Competition, and Tulane’s Novel Tech Challenge in 2017. The company was also selected to participate in MassChallenge’s Austin 2018 Accelerator program.”
In addition to the direct capital won by Instapath, the company was also awarded legal services, ad placement in Biz New Orleans, an insurance consultation, a marketing strategy, and much more totaling roughly $60,000.
To learn more about the JEDCO Challenge, visit www.jedco.org/challenge-about.