Richmond startup wins first place in Danville pitch competition

A Richmond-based medical device company has been named the winner of the IdeaFest Pitch Competition in Danville. Almost 100 companies applied for the contest and 20 competed.

Pocket Protector received a $5,000 cash prize in winning the competition. The IdeaFest Pitch Competition, now in its sixth year, was held March 21 at Cottontail Weddings and Events.

Pocket Protector’s device is designed to prevent pocket hematomas, or the buildup of blood, after pacemaker implantation.

NIRSleep, another Richmond-based company, was the second-place winner. The startup received a $3,000 cash award. The company’s wearable device helps detect sleep disorders.

The third-place winner was Battery Xchange, a startup based in Charlotte, N.C. Battery Xchange’s rental platform provides portable batteries that enable people to charge their cell phones on the go. The company received a $2,000 cash prize. 

Winners of the competition will be eligible to receive 25 hours of free business consulting from The Launch Place. The organization helps companies with business formation, job creation and retention in the Dan River Region, which includes Danville, Pittsylvania County and Caswell County, N.C.

The Launch Place also invests in companies using seed and pre-seed funds established with a grant awarded by the Danville Region Foundation.