20 Companies Will Participate in Four-Month Program
LOS ANGELES, May 31, 2017 – MedTech Innovator, the medtech industry’s nonprofit global competition and accelerator, announced today the 20 medical technology startups selected to participate in its accelerator program. These companies are all in the running for $500,000 in cash awards in MedTech Innovator’s 2017 competition.
MedTech Innovator received a record number of applications for its 2017 competition, reaching nearly 600 by the Feb. 28 deadline. The companies chosen for the accelerator were part of the top 100 invited to present at one of 11 regional pitch events in March and April and also are in the group of 50 companies participating in the MedTech Innovator Showcase at The MedTech Conference powered by the Advanced Medical Technology Association (AdvaMed).
“With the collaboration of over 160 executives at leading manufacturers, investors, and providers, we dug into business plans, discussed judges’ critiques from more than 100 company pitches, and analyzed value to the healthcare system to select our 20 accelerator companies,” said MedTech Innovator CEO Paul Grand. “From AI-driven rapid diagnostics to innovative imaging tools to technologies for personalizing care to novel consumer healthcare devices and more, these companies truly represent the best of what’s to come in medical technology innovation and improving the lives of patients.”
The accelerator commences with a two-day in-person kickoff event May 31 and June 1 in San Francisco, which includes exclusive networking, interactive workshops, and opportunities to meet with investors, manufacturers, providers, and potential customers. On June 2, all of the accelerator companies attend the 25th Annual WSGR Medical Device Conference, where they will have opportunities to network and pitch investors and potential partners. Four of the companies will be selected to compete at 4 p.m. in the MedTech Innovator Value competition, the first of three competitions in front of live audiences in 2017. The WSGR conference audience will vote for the company with the most compelling value proposition to win a $25,000 cash prize and profile in The MedTech Strategist.
During the subsequent four-month accelerator program, these exceptional medtech companies will receive in-depth, tailored mentorship from senior leaders in the industry and receive guidance and support to reach their personalized milestones. Companies will have access to the MedTech Innovator webinar series, featuring leaders from across the industry discussing topics and answering questions posed by the accelerator companies, and other online resources that advance their strategic development. As a new feature in MedTech Innovator 2017, the accelerator companies also receive a MedTech Innovator-sponsored six-month membership in AdvaMed Accel, the association’s division dedicated to the needs of small and emerging companies.
“As these startups continue their quests for capital investment, regulatory clearance or approval, and reimbursement in the healthcare marketplace, AdvaMed will serve as their resource for policy expertise and small-company-focused programming to support their growth,” said AdvaMed Accel Executive Director Ashley Wittorf.
The program concludes at The MedTech Conference in San Jose from Sept. 25 to 27 where the startups will attend the AdvaMed Accel Leadership Seminar, present their companies in the MedTech Innovator Showcase, and participate in exclusive programming and partnering with leading business development executives and investors. The 2017 program with culminate with the MedTech Innovator finals competition on Sept. 26 with The MedTech Conference audience choosing the winner. In addition to $500K in cash awards, MedTech Innovator will co-present several awards, including additional sponsored awards for non-dilutive funding and incubator space at JLABS.
About MedTech Innovator
MedTech Innovator is the industry’s nonprofit global competition and accelerator for medical device, digital health and diagnostic companies. Our mission is to improve the lives of patients by accelerating the growth of companies that are transforming the healthcare system. MedTech Innovator 2017 features 100 companies that address one or more of the transformative themes identified in an annual survey of leading manufacturers and providers.