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| Third Eye Diagnostics won the 2008 Ben Franklin Venture Idol. (L to R): Fred Beste, president and CEO, Mid-Atlantic Venture Funds; Chad Paul, president and CEO of Ben Franklin Technology Partners/Northeastern Pennsylvania; Anthony Belezza, president and CEO of Third Eye Diagnostic; and Donald Young, CFO of Mid-Atlantic Venture Funds. |
The popular Ben Franklin "Venture Idol" returned for its third year in November. The event, led by the Ben Franklin Technology Partners of Northeastern Pennsylvania, is modeled after the popular television show American Idol—but
with entrepreneurs instead of vocalists.
Three early-stage technology company entrepreneurs seeking funding presented short pitches to investors and more than 200 audience members. When the votes were tallied, Third Eye Diagnostics was named winner of the $5,000 cash investment prize. Other presenting companies were SPINACT and XiGo Nanotools.
Third Eye Diagnostics is commercializing Cerepress, a noninvasive intracranial pressure (ICP) monitor. The monitor gathers information from the patient's eye. By measuring pressure in the retinal vein and systolic and diastolic blood velocities in the retinal artery, vital ICP measurements can be determined externally. Standard measuring devices are invasive and require drilling a hole through the patient's skull to measure pressure, which can expose patients to significant complications.
Three institutional investors held a panel discussion on the state of capital raising and investing, including:
- Eric Arnson, Managing Partner, Originate Ventures, Bethlehem, PA
- Dr. Sanjay Mistry, Senior Associate, Quaker Bioventures, Philadelphia, PA
- Michael Parent, Partner, Updata Advisors, New York, NY
"As an early stage company, every bit of capital is essential, and we are thrilled to have been named the winner," says Anthony Bellezza, CEO. "More importantly, the exposure we received at the event, in front of entrepreneurs and investors, is invaluable."
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