ach hour worldwide. Vivek Kopparthi is the company's cofounder and CEO.
Q: Why did you choose to locate in Scottsdale?
A: I graduated from Arizona State University with a business degree and started NeoLight after. I looked around and learned that Scottsdale is a hyper-developing medtech ecosystem and felt comfortable joining the curve here.
Q: What are the pros and cons of being outside of traditional medtech hubs?
A: Pros: Lower costs both for the bootstrapping startup and the employees. Access to talent—the city is miles away from [Arizona State University], Medtronic, Stryker, etc., which gives us easy access to top brass employees, interns, mentors, and advisors. State benefits—there are a variety of benefits that the state and the city offer. I got a manufacturing grant from the MCIDA for $200,000, such a sweet deal, and a great motivation booster for us!
Cons: Funding. Seed or series A funding is easy, but series B becomes a little difficult. Blitz-scaling. Scaling a medtech startup with a physical product involves a lot of in-person pitching to a niche network of distributors/end customers/resellers, who all have more outposts in these traditional hubs than Scottsdale.
|Enter the Medtech Startup Showdown for a chance to have your medtech startup profiled in an upcoming issue of MD+DI.|