Bessel and an Alabama tech hub today said they are launching Hatch Powered by Bessel, an accelerator program for medtech startups.
Applications are now open for the 10-week program, which starts in Fairhope, Alabama, this summer.
The accelerator “combines the passion of startup founders, the guidance of seasoned medical device experts, and the burgeoning startup ecosystem and investment in Alabama,” Bessel said in a news release. “… The program aims to equip medtech startups to create sustainable and scalable innovations—breakthroughs that scale—and to give founders the entrepreneurial resource ecosystem they need for long-term success.”
Startups selected for the program will receive a travel stipend, access to events and workshops, and guidance on strategy, fundraising and execution from lifescience industry entrepreneurs who will act as mentors and advisors.
The startups will be offered funding for equity by Hatch Fairhope after the cohort concludes with finale events in Fairhope, including a demo day for the startups to pitch to investors.
“There is an experienced angel investor community who make successful medical device investments and are able to follow their investments as the company progresses,” Bessel CEO Chris Danek told MassDevice. “For example, investors in my startup, AtheroMed, came from this community.”
Hatch is a business hub for tech-based entrepreneurs, funded by the Coastal Alabama Community College, the City of Fairhope, and the Baldwin Community + Economic Development Foundation (BCEDF). The organization helps its medtech startups access regional academic health system USA Health South and the University of Alabama (UAB) Medical Center
“Hatch benefits from several local partnerships, and now we can enter the medtech arena through our partnership with Bessel,” Hatch Experience Architect and Creative Director Keith Glines said in a news release. “Baldwin County is such an innovation-rich ecosystem. The vibrant economy, job growth, and access to significant medical and academic resources position Hatch Powered by Bessel for success.”