PHOENIX — The MedTech Accelerator, a collaborative effort between Mayo Clinic and Arizona State University, has announced the selection of six startups for its inaugural cohort:
The accelerator kicks off with an immersion program April 22–May 3 at Mayo Clinic's Arizona campus with ongoing activities that can be done remotely.
The accelerator, which is part of the Mayo Clinic Arizona State University Alliance for Health Care, was designed specifically for early stage medical device and health care technology companies looking to take their business to the next level.
"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," says Steven Lester, M.D., a Mayo Clinic cardiologist and medical director of the accelerator. Dr. Lester, professor of Medicine, is also associate medical director of Mayo Clinic's Department of Business Development.
The immersive experience will help participants develop or optimize new products and services, license intellectual property, and sponsor research and clinical studies. Participants will achieve this through individually tailored development plans, a trusted MedTech Accelerator entrepreneurship curriculum, idea mentoring and customer interactions within the health care ecosystem.
"After a nationwide competitive application process, we couldn't be more pleased with this first group of participating companies," says 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."
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.
"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," says Timmeko Love, managing partner of the accelerator, and a senior manager at the Department of Business Development at Mayo Clinic. "Through focused business development and interactions with the Greater Phoenix entrepreneurial ecosystem, this program will create strategic alliances that rapidly commercialize health care technologies resulting in a global impact."
The MedTech Accelerator is an extension of innovative initiatives developed by Mayo Clinic and ASU. Mayo Clinic has a history of operating accelerator and incubator programs across its campuses, and ASU has pioneered a number of accelerator programs. This effort builds off those accomplishments and strengthens the partnership between Mayo Clinic and ASU, while capitalizing on the vibrant entrepreneurial environment in Arizona.
"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," says Ji Mi Choi, associate vice president of entrepreneurship and innovation, ASU.
The accelerator will be completed within six to 12 months, with incentives offered to participants to stay and work in Arizona.
About the Mayo Clinic and Arizona State University Alliance for Health Care
Together, through the Mayo Clinic and Arizona State University Alliance for Health Care, the recognized world leader in patient care, education and research, and the nation's most innovative university, are bringing the brightest minds together to accelerate cutting-edge research discoveries; improve patient care through health care innovation; and transform medical education to enhance health outcomes at individual, community and national levels.
ASU, ranked No. 1 "Most Innovative School" in the nation by U.S. News & World Report for three consecutive years, has forged the model for a new American university. ASU is a comprehensive public research institution, measured not by whom it excludes, but by whom it includes and how they succeed — advancing research and discovery of public value, and assuming fundamental responsibility for the economic, social, cultural and overall health of the communities it serves. ASU operates on the principle that learning is a personal and original journey for each student — that they thrive on experience and the process of discovery cannot be bound by traditional academic disciplines. Through innovation and a commitment to accessibility, ASU has drawn pioneering researchers to its faculty even as it expands opportunities for qualified students, attracting some of the highest caliber students from all 50 states and more than 130 nations.
About Mayo Clinic
Mayo Clinic is a nonprofit organization committed to clinical practice, education and research, providing expert, comprehensive care to everyone who needs healing. Learn more about Mayo Clinic. Visit the Mayo Clinic News Network.