Medtech Startups Off the Beaten Path: Neolight

NeolightScottsdale, AZ-based Neolight has developed a phototherapy device that uses LEDs to treat neonatal jaundice, a condition that results in 10 deaths e

March 7, 2016

1 Min Read
Medtech Startups Off the Beaten Path: Neolight

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.

[image courtesy of NEOLIGHT]

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