Mei Wang, the founder of Instapath Biopics, along with her Ph.D colleagues J. Quincy Brown, Pete Lawson, and David Tulman, are students in the process of building a fast, reliable, and accurate microscope that provides medical patients with answers of their diagnosis quickly rather than waiting an extended period of time for test results, risking the likelihood of the patient returning for a treatment plan. Instapath Biopics was the recipient of the cash and technology services grand prize at the Get Started New Orleans pitch competition sponsored by Cox Business and Inc. Magazine that took place in March of 2017.
We spoke with Mei Wang to learn what direction the company is moving in and where they are today.
CB: How did the idea of Instapath Biopics come about? How has it changed or stayed the same?
Mei Wang: We are a group of Ph.D students. We started working on this idea as a scientific research project from about 5 years ago. When we presented our research results in various international conferences, we attracted a lot of interest from the physicians and industry. Earlier this year, we finally decided to start a company.
CB: Since winning Get Started, has your business seen any significant changes? For example, have there been any location/earnings/employee/investment changes?
Mei Wang: Since winning the Cox Get started competition, we entered 2 more local pitch competitions. We won 1st place in one of the local competitions and came in 2nd in the other local competition. Last month, we won first place in an international business pitch competition.
CB: What makes imaging systems for diagnoses an appealing industry in today’s society?
Mei Wang: At Instapath, we believe the early and accurate diagnosis is one of the most important factors when comes to fighting cancer. After interviewing over 200 physicians, we found that the physicians are still using technology from over 100 years ago for biopsy quality evaluation. It is time for us to provide the physician a more accurate and efficient tool.
CB: What are some obstacles that your company has faced as a new startup and how have you worked to overcome them?
Mei Wang: The biggest obstacle for us is to understand the complicated healthcare space. We are still learning the best way to navigate. However, we learned so much through talking to doctors, hospitals, and insurance companies.
CB: What’s the next step for your company moving forward?
Mei Wang: We are currently working on transforming our lab prototype into an industrial clinical ready prototype.
Mei Wang: If you had one piece of advice to give someone just starting out, what would it be?
The best advice I can give someone who is just starting out is to enjoy the ride. There are so many ups and downs for a startup, but the amazing experience is something no one can take away from you.