Cohort to feature industry’s 50 best-in-class startups seeking to transform healthcare
LOS ANGELES, November 25, 2019 – MedTech Innovator, the premier nonprofit accelerator in the medical technology industry, today announced a call for startups and emerging growth companies to apply to the 2020 program, which will award up to $500,000 in cash and in-kind prizes during its competition. The deadline to apply is January 17, 2020. There is no application fee, and no equity is required from participating companies.
MedTech Innovator’s four-month Showcase and Accelerator program features 50 of the industry’s best-in-class medical technologies from around the globe. In 2020, there will be several rounds in which companies gain valuable exposure to industry executives and decision-makers through online application reviews, in-person pitch sessions, mentoring, conference showcases, and live competitions.
“MedTech Innovator aims to identify startups – in the U.S. and globally – that are developing the most promising and leading-edge medical technologies for unparalleled mentorship and support,” said Paul Grand, founder and CEO of MedTech Innovator. “With the support of our vast network of industry partners, we connect the world’s best startups in medical technology with the stakeholders who can ensure that these transformative technologies reach patients and improve lives.”
More than 800 companies applied to participate in the 2019 program, which culminated with a final competition plenary session on Sept. 24 at The MedTech Conference in Boston, with attendance by more than 3,000 leaders in the medical technology industry. Five finalists were selected from the Accelerator program to compete in the grand finale, in which a live audience vote selected Forest Devices as the 2019 global competition winner.
Applications are reviewed by more than 150 executives and professionals from dozens of leading companies, including manufacturers, providers, and investors such as Johnson & Johnson, RCT Ventures, Baxter, BTG, HOYA Corp, NIPRO Medical Corp., Olympus Medical Systems Group, W.L Gore & Associates, Inc., and many more. The top applicants will be invited to present at one of MedTech Innovator’s regional pitch events across the U.S. and internationally in spring 2020.
“MedTech Innovator plays a key role in fostering an industry-wide ecosystem that provides immense value to the startups participating in its annual program as well as its industry partners,” said Sumant Ramachandra, M.D., chief science and technology officer at Baxter. “We are proud to partner with MedTech Innovator and provide guidance and support to startups that are committed to advancing patient care and medtech innovation.”
“Johnson & Johnson is dedicated to improving future health outcomes by providing innovative and effective solutions to patients around the world,” said Susan Morano, vice president of Business Development at Johnson & Johnson. “Since MedTech Innovator’s founding, Johnson & Johnson has had the opportunity to mentor and support emerging growth companies developing medical technologies that demonstrate real-world utility and value. By uniting promising, early stage companies with potential funders and partners that share the mission of improving and prolonging patient lives, more breakthrough technologies are likely to be brought to market faster to ultimately benefit patients who need them.”
Since 2013, MedTech Innovator has reviewed more than 3,000 startups and graduated 257 companies that have gone on to raise $1.4 billion in follow-on funding and bring 39 products to the market. MedTech Innovator works closely with stakeholders across the industry to foster the growth of early to mid-stage startups. In collaboration with 20 corporate partners, as well as a broader network of hundreds of investors, business development representatives, and industry experts, MedTech Innovator provides startups with individualized mentorship and feedback, funding opportunities, and continual engagement with peers and advisors. The organization also launched MedTech Innovator Asia Pacific in 2019 to accelerate the growth of promising medical device startups addressing healthcare needs across the region.
About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the premier nonprofit startup accelerator in the medical technology industry. Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the healthcare system. MedTech Innovator matches healthcare industry leaders with innovative early-stage and emerging growth medtech companies for mentorship and support. Founding sponsors include Johnson & Johnson and RCT Ventures, and annual program sponsors include Baxter, Boston Scientific, NIPRO Medical Corp., Olympus Medical Systems Group, W. L. Gore & Associates, Inc., Terumo, BTG, Fujikura, HOYA Corp., JOHNAN Corp., Maxim Integrated Ventures, Alira Health, EdgeOne Medical, Experien Group, Greenlight Guru, Proxima Clinical Research, Westwood & Wilshire, and Ximedica. The organization’s industry partners include AdvaMed, Health+Commerce, MedTech Strategist, and Wilson Sonsini Goodrich & Rosati. For more information about MedTech Innovator, visit https://medtechinnovator.org/ and follow @MedTechAwards on Twitter. To receive industry insights and highlights about MedTech Innovator’s current and alumni participant companies, subscribe to our monthly newsletter.