Startups seek money at ‘Invest Midwest’
KANSAS CITY, Mo. — It takes money to make money as every entrepreneur knows. On Thursday, high-tech startups from across the nation made their pitch to deep pocket investors at the Westin Crown Center.
Invest Midwest is a two day event where 41 companies selected out of 120 are seeking millions to get off the ground floor.
One company looking to get some meat on its bones is Osteogenex, a Kansas City, Kan., bio-medical firm developing a magic pill to reverse bone loss.
“As you get older you lose and lose and lose that level of bone strength, and what we’re looking to do is bring that back up to healthy levels so you will have elderly individuals in their 60’s or 70’s or older but with bones that are as strong and powerful as a 20-year old or a 30-year old,” said Scott Kimball, a chemist with Osteogenex.
The idea is worth billions but first the company needs millions in startup funds.
“We’re seeking 11 million to get through to Phase 1 trials,’ said President and CEO Debra Ellies of Osteogenex.
She, like every startup company at the forum, was given ten minutes to woo angle investors and venture capitalists. ” I’ve done it on Wall Street in less, ” said a chuckling Ellies.
Of the 41 companies pitching to investors, 11 were from the Kansas City area.