startup accelerator has launched its first medical technology-focused program in Minneapolis.
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gener8tor employees and gBeta participants at a recent Pitch Night at the Irontek space in Beloit.[/caption]
will run for seven weeks, and like gBETA, will not take equity in or charge a fee to the participating companies. The program will be funded by Boston Scientific, Mayo Clinic and the University of Minnesota. It will focus on medical device, health care-related software, biotech and diagnostics startups. Adam Choe will serve as director of gBETA Medtech.
“Minnesota’s Medical Alley is the premier ecosystem to launch a medtech accelerator,” Choe said. “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.”
gBETA chose to start its medical technology accelerator in the Twin Cities because of its prevalence of medical device companies and leadership in health and medical innovation, led by companies like Boston Scientific and Mayo Clinic.
The first cohort of six medical tech startups have been chosen, and all are based in Minnesota. They are: ExpressionMed, Kobara Medical, NeuroVASx, Quench Medical, Soundly and Vitrose Health.
“The next big ideas in health care won’t happen in a vacuum – meaningful innovation is the result of thoughtful collaboration,” said David Knapp, vice president of corporate research at Boston Scientific. “We look forward to working with these scaling companies in Minnesota to identify new opportunities to transform patient care.”
gBETA Medtech is now accepting
applications for the second and third cohorts of the program. The rapidly expanding gBETA program is offered in eight locations across the Midwest.