MedTech Innovator, the largest accelerator of medical device companies in the world, selected 50 companies to participate in the organization’s flagship four-month Showcase and Accelerator program, featuring the industry’s most transformative device, diagnostic, and digital health technologies from around the globe. These up-and-coming startups will receive unparalleled visibility and access to leading manufacturers, providers, investors, and other industry stakeholders. As part of its Accelerator program, MedTech Innovator will award up to $500,000 in cash and in-kind prizes during its final competition at The MedTech Conference, powered by AdvaMed.
“Our goal at MedTech Innovator is to find the most promising medical innovations and make sure they actually reach the patients who need them,” said Paul Grand, CEO of MedTech Innovator. “We are thrilled with the caliber of the startups participating in this year’s cohort and we look forward to providing them with the resources and mentorship they need to succeed.”
The program will virtually commence on June 15th, where the leadership of the 50 chosen startups will participate in the annual MedTech Innovator Summit. During this online event, the selected companies will collaborate with MedTech Innovator’s partners, participating in exclusive virtual networking events and interactive workshops. The selection process for this year’s Showcase and Accelerator program was extremely competitive, with only a 4% acceptance rate. Together with the senior leadership teams of its corporate partners and over 200 industry judges, MedTech Innovator evaluated the pitches of 195 candidates out of more than 1,100 applications from 54 countries and 42 U.S. states.
A subset of 25 early-stage companies will participate in MedTech Innovator’s award-winning Accelerator program, in which medtech startups are matched with senior industry leaders to receive continual in-depth, customized mentorship and support.
The program culminates at The MedTech Conference, powered by AdvaMed, on September 27-29, where all 50 companies will present in Showcase panels and gain access to exclusive partnering and roundtables. During the conference, five startups from the Accelerator cohort will compete for the Execution Award, and another five companies will advance to compete in the Grand Final competition. An audience vote will determine the winner of the $350,000 grand prize and the title of 2021 MedTech Innovator. Additional awards will be presented, including incubator space at JLABS.
Two Virginia companies named to the MedTech Innovator’s 2021 Top 50 Showcase include Embody of Norfolk and Caretaker Medical of Charlottesville. Caretaker Medical is also participating in MedTech Innovator’s intensive Accelerator program.
Since 2013, MedTech Innovator has reviewed more than 5,000 startups and graduated 340 companies that have gone on to raise more than $2.7 billion in follow-on funding and have brought over 80 products to market. MedTech Innovator works closely with stakeholders across the industry to promote the growth of early and mid-stage startups. In collaboration with 25 corporate partners, as well as a broader network of more than 100 investors, business development representatives, and industry experts, MedTech Innovator provides startups with individualized mentorship and feedback, funding opportunities, and continual engagement with peers and advisors.
MedTech Innovator’s founding sponsors are Johnson & Johnson and RCT Ventures. Annual program sponsors include NIPRO Medical Corp., Olympus Medical Systems Group, Asahi Intecc, Baxter, Becton Dickinson & Company, Edwards Lifesciences LLC, Dexcom, Fujikura Ltd., Jabil Healthcare, Maxim Integrated Ventures, W. L. Gore & Associates, Inc., Experien Group, Greenlight Guru, Integrated Computer Solutions (ICS), Medmarc, Medical Technology Enterprise Consortium (MTEC), Oliver Healthcare Packaging, Proxima Clinical Research, Silicon Valley Bank, Three Bridges Management & Consulting, Westwood & Wilshire, and Ximedica. The organization’s industry partners include AdvaMed, Health+Commerce, MedTech Strategist, and Wilson Sonsini Goodrich & Rosati.