MEDTECH INNOVATOR
Programs
MedTech Innovator Program
MEDTECH INNOVATOR ("MTI") IS THE LARGEST HEALTH CARE ACCELERATOR IN THE WORLD. ITS MISSION IS TO IMPROVE THE LIVES OF PATIENTS BY ACCELERATING THE GROWTH OF COMPANIES THAT ARE TRANSFORMING THE HEALTH CARE SYSTEM. WHILE MANY ENTITIES EXIST THAT PROVIDE EARLY-STAGE SUPPORT FOR HEALTH CARE INNOVATION, THESE ORGANIZATIONS COMMONLY ARE REGIONALLY-BASED AND LIMITED BY THE FINANCIAL RESOURCES AND EXPERTISE OF THEIR LOCAL ECOSYSTEMS. AS A RESULT, PROMISING MEDICAL INNOVATIONS RECEIVE EARLY SUPPORT BUT ULTIMATELY FAIL TO REACH PATIENTS. MTI HAS BEEN PURPOSE-BUILT TO IDENTIFY THE MOST VIABLE STARTUPS AND IMMERSE THEM IN THE BEST VIRTUAL MEDTECH ECOSYSTEM IN THE WORLD, NO MATTER WHERE THEY ARE BASED. MTI PROVIDES A RESOURCE-RICH ENVIRONMENT TO ASSIST STARTUPS IN HONING THEIR BUSINESS MODELS, DEVELOPING THEIR VALUE PROPOSITIONS, AND SECURING THEIR NEXT ROUND OF FUNDING, AMONG OTHER CHALLENGES FACED BY COMPANIES ATTEMPTING TO COMMERCIALIZE INNOVATIVE HEALTH TECHNOLOGY FOR THE BENEFIT OF PATIENTS AROUND THE WORLD. MTI'S FLAGSHIP PROGRAM SUPPORTS MEDICAL DEVICE, DIGITAL HEALTH, AND DIAGNOSTIC STARTUPS AND SCALE-UPS. IN 2021, MTI LAUNCHED BIOTOOLS INNOVATOR, A NEW INITIATIVE THAT LEVERAGES ITS SUCCESSFUL MODEL TO SUPPORT INNOVATORS IN THE LIFE SCIENCE TOOLS AND DIAGNOSTICS SPACES. 1.MTI UNDERTAKES TWO PRIMARY ACTIVITIES: SECTOR/REGIONAL-BASED COMPETITIONS FOR INNOVATIVE STARTUPS AND A FOUR-MONTH MENTORSHIP-DRIVEN ACCELERATOR FOR THE LEADING APPLICANTS. EACH YEAR, MTI GIVES OUT A COMBINATION OF CASH PRIZES AND IN-KIND AWARDS THROUGH ITS VARIOUS COMPETITIONS, WHICH INCLUDE SEVERAL ROUNDS DURING WHICH THOUSANDS APPLY AND HUNDREDS OF COMPANIES GAIN INCREASING AMOUNTS OF EXPOSURE TO INDUSTRY LEADERS THROUGH ONLINE APPLICATION REVIEWS, IN-PERSON AND VIRTUAL PITCH EVENTS, AND AUDIENCE-DRIVEN, PUBLIC COMPETITIONS IN PARTNERSHIP WITH LEADING INDUSTRY CONFERENCES.AS THE COMPETITION PROGRESSES, COMPANIES ARE ACCEPTED INTO THE ANNUAL COHORT. THESE STARTUPS GAIN CRITICAL INDUSTRY-WIDE VISIBILITY AND ACCESS TO LEADING INVESTORS, MANUFACTURERS, PROVIDERS, AND CUSTOMERS. AMONG MANY BENEFITS, THEY RECEIVE EXCLUSIVE NETWORKING OPPORTUNITIES, INTERACTIVE WORKSHOPS, AND COACHING. THE COMPANIES ALSO HAVE MULTIPLE OCCASIONS TO SHOWCASE THEIR PRODUCTS AND GAIN EXPERIENCE PITCHING TO AUDIENCES OF INDUSTRY STAKEHOLDERS AND DECISION-MAKERS. A SUBSET OF EARLIER-STAGE COMPANIES TAKE PART IN A CUSTOMIZED MENTORSHIP PROGRAM WHERE THEY ARE PAIRED WITH SENIOR LEADERS IN THE MEDICAL TECHNOLOGY (MEDTECH) OR LIFE SCIENCES INDUSTRIES. ALL COHORT COMPANIES HAVE THE OPPORTUNITY TO COMPETE FOR NON- DILUTIVE CASH PRIZES AND IN-KIND AWARDS.2.MTI HAS ATTRACTED TOP TALENT TO OVERSEE THE COMPETITION AND ACCELERATOR PROGRAMS, INCLUDING STAFF MEMBERS WITH ADVANCED DEGREES AND DOCTORATES IN FIELDS OF STUDY RELEVANT TO THE STARTUP COMPANIES THEY ASSIST. MTI STAFFERS HAVE A BROAD KNOWLEDGE AND UNDERSTANDING OF THE MEDICAL TECHNOLOGY AND LIFE SCIENCES INDUSTRIES, INCLUDING THE REGULATORY AND REIMBURSEMENT REQUIREMENTS, THE INVESTMENT ENVIRONMENT, AND THE CLINICAL AND SCIENTIFIC NEEDS FOR RESEARCH AND DEVELOPMENT.MTI ALSO DEVELOPS RELATIONSHIPS WITH HUNDREDS OF INDUSTRY EXECUTIVES, HEALTH CARE PROVIDERS, INVESTORS AND KEY OPINION LEADERS, FOR THE BENEFIT OF COMPANIES PARTICIPATING IN ITS COMPETITION AND ACCELERATOR. MTI BRINGS THESE EXPERTS TOGETHER TO SERVE AS APPLICATION REVIEWERS AND JUDGES AT REGIONAL PITCH EVENTS AND COMPETITIONS, AND THEY OFFER FEEDBACK, GUIDANCE AND MENTORSHIP TO COMPANIES THAT PROGRESS THROUGH THE PROGRAM. THESE EXPERTS VOLUNTEER THEIR TIME TO SUPPORT MTI IN ITS MISSION TO IMPROVE THE LIVES OF PATIENTS.3.THE EVENTS OF THE COMPETITION ARE CONDUCTED THROUGHOUT THE YEAR, WITH APPLICATIONS OPENING IN THE FALL SEASON OF THE PRECEDING YEAR.THE ACCELERATOR PROGRAMS TYPICALLY RUN FROM JUNE THROUGH OCTOBER.4.THE EVENTS OF THE COMPETITION AND ACCELERATOR TAKE PLACE VIRTUALLY AND IN CITIES AROUND THE UNITED STATES, SUCH AS SAN FRANCISCO, LOS ANGELES, SAN DIEGO, BOSTON, PHILADELPHIA, AND WASHINGTON, D.C., AND IN INTERNATIONAL LOCATIONS SUCH AS IRELAND AND SINGAPORE.THE ACCELERATOR IS A VIRTUAL PROGRAM, LARGELY CONDUCTED VIA WEBINAR AND TELECONFERENCE, IN ADDITION TO MULTI-DAY, IN-PERSON EVENTS HELD AT ITS BEGINNING AND CONCLUSION. ALL OF THE COMPANIES SELECTED FOR MEDTECH INNOVATOR'S ANNUAL COHORT PARTICIPATE IN THE INNOVATOR SUMMIT AND FINALS, WHICH BRING TOGETHER SENIOR LEADERSHIP FROM EACH COMPANY ALONG WITH REPRESENTATIVES FROM MEDTECH INNOVATOR'S CORPORATE PARTNERS, REPRESENTATIVES FROM FEDERAL AGENCIES THAT SUPPORT MEDICAL INNOVATION SUCH AS FDA, HHS, DOD, AND NIH, AND KEY STAKEHOLDERS SUCH AS INVESTORS AND HEALTH CARE PROVIDERS.5.MTI SEEKS TO IMPROVE THE LIVES OF PATIENTS BY ACCELERATING THE GROWTH OF STARTUP COMPANIES THAT ARE TRANSFORMING THE HEALTH CARE SYSTEM. THIS WILL BE ACCOMPLISHED BY OFFERING SUBSTANTIVE RESOURCES AND NETWORK CONNECTIONS TO THE STARTUPS LEADING UP TO AND DURING THE ACCELERATOR AS WELL AS PROVIDING DIRECT FUNDING TO SELECT COMPANIES THROUGH AWARDS IN THE COMPETITION. MTI'S ACTIVITIES FURTHER THE PUBLIC GOOD BY UNITING LEADING STAKEHOLDERS IN THE MEDTECH INNOVATION ECOSYSTEM TO SUPPORT AND GUIDE TRANSFORMATIVE EARLY-STAGE COMPANIES THAT ARE STRIVING TO SOLVE UNMET PATIENT NEEDS AND INCREASE EFFICIENCY, QUALITY, EQUITY AND VALUE IN THE HEALTH CARE SYSTEM. 6.MTI IS FUNDED BY CORPORATE INDUSTRY DONORS, INCLUDING LEADING MANUFACTURERS, PRIVATE FOUNDATIONS, INVESTORS, SERVICE PROVIDERS, STATE AND FEDERAL TRADE ASSOCIATIONS, AND GRANTS FROM GOVERNMENTAL AGENCIES. MTI HOPES TO INCREASE FINANCIAL SUPPORT FROM GOVERNMENTAL AGENCIES, TRADE ASSOCIATIONS, AND PRIVATE FOUNDATIONS THAT SUPPORT HEALTH CARE INNOVATION, AS MTI PROVIDES A UNIQUE FRAMEWORK TO HELP ENSURE THAT IMPORTANT GRANT-SUPPORTED HEALTH CARE TECHNOLOGIES ACTUALLY REACH PATIENTS IN NEED.7.THERE CURRENTLY ARE NO DBAS. MTI'S WEBSITE IS HTTPS://MEDTECHINNOVATOR.ORG.GeographiesNot indicatedDatesJul 1, 2022 – Jun 30, 2023Source990No causes providedNo populations provided–$3.5M
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