MINNEAPOLIS, Minn (March 26, 2018) – The Twin Cities is now home to its first medical technology accelerator as gener8tor , a nationally ranked accelerator, has launched gBETA Medtech funded by Boston Scientific with additional support from Mayo Clinic and University of Minnesota . The first cohort of six start-ups are all Minnesota companies.
The medtech accelerator will operate under gener8tor’s “gBETA” model: a seven-week program requiring no fees and no equity. The program will be offered three times a year. Each company will work closely with physicians, researchers, successful entrepreneurs, angel investors, venture capitalists and industry experts to develop strategies to grow, gain customer traction and pitch investors.
The first six companies to benefit from gener8tor’s Medtech accelerator are:
- ExpressionMed creates and sells designed medical tapes so expensive wearable devices last longer and are more fun and socially acceptable to wear.
- Kobara Medical pioneers transverse pericardial sinus cardiac rhythm management and neuromodulation to address heart failure and cardiac arrhythmias.
- NeuroVASx develops interventional assist devices and therapies for treating cerebral aneurysm and stroke patients.
- Quench Medical revolutionizes symptom control for patients suffering from lung diseases. ● Soundly’s gamified app-based therapy has been clinically shown to reduce snoring.
- Vitrose Health’s crowdsourced, localized, patient-facing, diagnostic solution utilizes existing medical infrastructure to save patients and clinics time and money.
“The next big ideas in healthcare won’t happen in a vacuum—meaningful innovation is the result of thoughtful collaboration,” said David Knapp, vice president, Corporate Research, Boston Scientific. “We look forward to working with these scaling companies in Minnesota to identify new opportunities to transform patient care.”
Minnesota has long been a leader in health and medical innovation with nearly 700 medical device companies in the state. This infrastructure, and the network of well-established organizations such as Boston Scientific, Mayo Clinic and University of Minnesota, makes Minneapolis-St. Paul ideally suited to attract emerging medtech companies.
“Minnesota’s Medical Alley is the premier ecosystem to launch a medtech accelerator,” said Adam Choe, director of gBETA Medtech. “Our goal is to create a flywheel effect by supporting the best and brightest companies, and we are humbled to be able to do that alongside such strong collaborators.”
Applications for the second and third 2018 cohorts are ongoing and open exclusively for startups focused on healthcare. This includes: healthcare products for diagnosing, treating and/or monitoring diseases or medical conditions including devices, software, biological technology, and healthcare services, as well as technology or process innovations that could serve any component of the supply chain.
Companies can apply at www.gbetamedtech.com . gBETA Medtech will not consider pharmaceutical companies. For more information on gBETA Medtech and ways to get involved, please visit www.gbetamedtech.com, or email Adam Choe at firstname.lastname@example.org.
gener8tor is a nationally ranked accelerator that invests in high-growth startups. Three times a year gener8tor invests up to $140,000 in each of five startups that receive a concierge experience during a 12-week accelerator program. gener8tor supports the growth of these startups through its network of experienced mentors, technologists, corporate partners, angel investors and venture capitalists.
To date, gener8tor’s 65 alums have cumulatively raised more than $150 million in follow-on financing. Of these 65 alums, 57 percent have raised more than $1 million in follow-on financing or have been acquired.
Gener8tor invests in high-growth startups, including software, IT, web, SaaS, life science, medtech, e-commerce and hardware. Accepted startups receive up to $140,000 and 12 weeks of mentorship-driven programming.
Gener8tor is a proud member of the Global Accelerator Network (GAN) and is sponsored by American Family Insurance. Gener8tor is a GOLD-tier accelerator in the U.S. as ranked by the Seed Accelerator Rankings Project: http://seedrankings.com
Date: March 26, 2018