The Mayo Clinic and Arizona State University have selected six digital health startups for their MedTech Accelerator program.
The Mayo Clinic and Arizona State University have selected six digital health startups for their MedTech Accelerator program.
The accelerator, part of the Mayo Clinic Arizona State University Alliance for Health Care, is designed for early stage medical device and health IT companies looking to get their innovations to market.
“The inaugural cohort of the program consists of six extremely dynamic startups with product offerings we feel are poised to improve patient care and outcomes through their new innovations,” said Steven Lester, MD, a Mayo Clinic cardiologist and medical director of the accelerator.
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Lester is also a professor of medicine and associate medical director of Mayo Clinic’s Department of Business Development.
The six startups are:
- BioInteractive Technologies, which is developing wearable devices and protocols for hand and wrist therapy in physical rehabilitation
- GYANT, which is working on combining messaging, artificial intelligence (AI), and medical experts to improve the diagnosis and treatment of conditions that are not urgent
- Hexoskin, which is developing a wearable shirt for in-home rehabilitation that contains embedded sensors connected to a remote patient monitoring platform
- Life365, which is working on remote patient monitoring to evaluate patient adherence to care plans in post-acute settings
- Safe, which is developing a sexual health app that provides low-cost testing, information sharing, and relevant wellness education
- Securisyn, which is working on a medical device that provides airway stability for ventilated patients to prevent unplanned extubations
“After a nationwide competitive application process, we couldn’t be more pleased with this first group of participating companies,” said Rick Hall, senior director of Health Innovation Programs at the ASU Edson College of Nursing and Health Innovation and ASU’s managing partner of the accelerator.
“The high level of applicants surpassed our expectations, providing us with a strong pool of MedTech companies with big potential for disruptive success,” Hall added.
The accelerator kicked off April 22 with an immersion program at Mayo Clinic’s Arizona campus with ongoing activities that can be done remotely.
The immersive experience, which runs through May 3, will help participants develop or optimize new products and services, license intellectual property, and sponsor research and clinical studies.
Participants will accomplish this through individually tailored development plans, a MedTech Accelerator entrepreneurship curriculum, idea mentoring, and customer interactions within the healthcare ecosystem.
“Mayo Clinic is excited to collaborate with ASU and six companies with such a strong transformative potential to develop next-generation medical technologies and services that improve patient care,” said Timmeko Love, managing partner of the accelerator and a senior manager at the Mayo Clinic’s Department of Business Development.
“Through focused business development and interactions with the Greater Phoenix entrepreneurial ecosystem, this program will create strategic alliances that rapidly commercialize healthcare technologies resulting in a global impact,” Love noted.
Mayo Clinic has a history of operating accelerator and incubator programs across its campuses. ASU has pioneered a number of accelerator programs. This effort builds off those accomplishments and strengthens the partnership between Mayo Clinic and ASU.
“We are looking forward to the in-residence program because not only will we be able to work directly with companies who are advancing cutting-edge solutions, but also these companies and their work serve as inspiration to the hundreds of student-led teams we have at ASU — some of whom may one day be participants in the accelerator themselves,” said Ji Mi Choi, ASU associate vice president of entrepreneurship and innovation.
Participants can expect to walk away from the program with personalized business development plans to collaborate with Mayo Clinic and ASU, as well as accelerated go-to-market and investment opportunities.
The accelerator program will be completed within six to 12 months, with incentives offered for participants to stay and work in Arizona.
Date: April 26, 2019
Source: HIT Infrastructure