The InnoTech conference in San Antonio is adding a half-day to its normally one-day program, with the extra time devoted to the medical technology sector, a key part of San Antonio’s economy. The additional time will be needed because the financing side of medical technology startups is reaching critical condition.
Venture capitalists and venture fund managers are turning away from risk. The trailing performance of previous investments is souring. Lines of credit for working capital are disappearing for companies trying to reach the commercial stage of development.
That’s the message that Paul Nichols Jr., president and CEO of San Diego-based Trinity Orthopedics LLC, will bring as the keynote speaker for the Emerging Medical Technology Symposium set for Wednesday at the Norris Conference Center at Wonderland of the Americas mall. The conference precedes the third annual InnoTech that occurs Thursday at the same location. “They have less play money,” Nichols said of venture capitalists, fund managers and institutional investors like pension funds. That stems largely from stock market investment losses in the past few years.
“There’s a general trend away from risks,” Nichols said.
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