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t m c » p u l s e | j u ly 2 0 1 5 25 There are a number of conferences that are aimed at investors, but there's something special about RESI. […] It brings together the right people, for the right purpose. — MELINDA RICHTER Head of JLABS usually in a sterile environment and they don't work that well," he added. "I don't want to directly compare what we do to speed dating, but you get a round table with a number on it and a half-hour to pitch to one of the partici- pants. Everyone is incredibly receptive to the concept and it is a very sophisti- cated match making process." Between 8 a.m. and 5 p.m., at least 700 meetings took place. Meanwhile, in the exhibit hall, 34 of the most innovative early-stage life science companies at the event were chosen to participate in a virtual invest- ment contest—the RESI Innovation Challenge. Competing to raise the most "RESI Cash," cutting-edge life science technologies battled it out through poster presentations showcasing their solutions. Redox, a TMCx company seeking to integrate electronic medical records systems, took home the first prize and a subscription to the Life Science Nation Investor Platform. For the entrepreneurs present, the day instilled some serious lessons about strengths to promote and pitfalls to avoid when trying to cultivate rela- tionships with investors. "Too often, many CEOs reach out to investors before they're ready to," said McKeon. "They're largely motivated by their burn rate—when many companies form, they're putting their own money into it or have some friends or family investing, and it's usually not that much. Every day that goes by, they're burning more of that money. There is an element of des- peration in that visceral need to get another source of funding, to allow that idea to survive and become a viable company." The prospect of limited funds slowly ticking away can incentivize anyone to decisive action, but McKeon cautions a more thoughtful, deliberate course. "My advice is always, 'Make sure you've got a demonstrable product or service with hard, proven data to back it up,'" he said. "Too often, people come with the core concept itself, but don't have the development plans and data to back it up. When investors reach into their pocket to spend money, they don't want to know what could be—they want to know what is. If you don't have that data, then you shouldn't be out talking with investors." With entrepreneurship workshops providing some tips for navigating the legal marketplace, branding and even a fundraising boot camp, the RESI confer- ence strives to provide a continuum of support, connections and education. "There are a number of confer- ences that are aimed at investors, but there's something special about RESI," said Melinda Richter, head of JLABS. "Because they are an entrepreneurial organization themselves, they are pas- sionate and committed to their purpose. All of the attendees feel that, whether they're an entrepreneur just starting out or a strategic investor seeking the right technology. It brings together the right people, for the right purpose." "There's nobody really doing what we're doing," added Ford. "Life Science Nation, the Texas Medical Center and JLABS all have the vision to bring investors to Houston and highlight the technology. Fostering change is all about calculated risk taking, and with many naysayers advising that Houston wasn't ready for a prime time global investor conference, this year's RESI conference knocked it out of the park."