Medtech startups land European Innovation Council Accelerator funding

European medtech startups were among the 74 companies receiving a combined €382 million in grants and investments, the 2022 European Innovation Council Accelerator said this week.

Each company will be eligible for up to €17.5 million (about $18.8 million in U.S. currency) worth of grants and equity investments. Most of the funding will be available in the next two or three months, with equity investments expecting to be finalized this fall.

The startups include Estonia-based Seventh Sense, which uses telehaptics to help blind and visually impaired people navigate their surroundings, and Finland-based Tilt Biotherapeutics, the developer of a novel oncolytic immunotherapy for ovarian, head and neck, and lung cancers.

Get the full story at our sister site, Medical Design & Outsourcing.

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Medtech startups land European Innovation Council Accelerator funding

European medtech startups were among the 74 companies receiving a combined €382 million in grants and investments, the 2022 European Innovation Council Accelerator said this week.

Each company will be eligible for up to €17.5 million (about $18.8 million in U.S. currency) worth of grants and equity investments. Most of the funding will be available in the next two or three months, with equity investments expecting to be finalized this fall.

The startups include Estonia-based Seventh Sense, which uses telehaptics to help blind and visually impaired people navigate their surroundings, and Finland-based Tilt Biotherapeutics, the developer of a novel oncolytic immunotherapy for ovarian, head and neck, and lung cancers.

“The new wave of innovation is currently led by deep tech startups that target societal challenges,” Commissioner for Innovation, Research, Culture, Education and Youth Mariya Gabriel said in a news release. “I am happy to se…

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Here’s where Harvard’s engineering dean sees medtech research going

Harvard University constructed a 500,000-square-foot Science and Engineering Complex (SEC) for SEAS in Boston’s Allston neighborhood in 2020. [Image courtesy of Harvard SEAS]

Surgical robotics, artificial intelligence, and combatting climate change are but some of the priorities that have Harvard’s engineering school dean excited.

Speaking today at DeviceTalks Boston, Frank J. Doyle III described the Harvard John A. Paulson School of Engineering and Applied Sciences as a “well-kept secret” historically. But Harvard engineering is staking out a strong position when it comes to medtech innovation.

Doyle noted that the school he runs has 5% of the faculty — and produces 40% of the startups out of Harvard.

Get the full story at our sister site, MassDevice.

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gBETA Medtech accelerator picks its next startups

The gBETA Medtech virtual accelerator today named the five startups that will participate in the spring program leading up to the June 21 showcase day.

The five startups for the spring 2022 cohort are:

Mother of Fact: This mobile app for moms with babies offers nutrition tracking, preventative monitoring and daily coaching from licensed dietitians and lactation experts. Emily Sylvester is the CEO and founder of parent company NurtureTalk in Langdon, New Hampshire.

OmniVis: Based in South San Francisco, California, this device developer made a handheld infectious disease diagnostic that can deliver results within a half hour. The iSpyDx device can currently detect cholera and E. coli in water, and the company’s website says it will soon be able to diagnose malaria, HIV and sepsis. CEO Katherine Clayton’s co-founders include Tamara Kinzer-Ursem, Jacqueline Linnes and Steven Wereley.

Q-rounds: This app tells hospitalized patients, their …

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The promise and pain of startup customers: 3 ways to support early-stage innovators without becoming a high-risk investor

Kate Stephenson is the owner and founder of Dyad Engineering. [Photo courtesy of Dyad Engineering]

Startups represent a highly lucrative opportunity for suppliers to get in on the ground floor of a whole new product line, but their low success rate and high-touch needs can make them a dangerous distraction from your main customers.

Kate Stephenson, Dyad Engineering

Enthusiastic and highly committed to their cause, medical device startup founders speak with a deep passion about righting the wrongs of healthcare and the immense potential for profit in doing so.

However, they also tend to be overly confident, naïve about the sheer amount of work their idea represents and perennially underfunded.

The risks and rewards of working with startups are constantly shifting. To mitigate the risks without resorting to a blanket “no startup” policy, there are three strategies every medical device manufactur…

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Medtech Color names winner of 2022 Pitch Competition

Medtech Color recently announced that it has selected the creator of an app for perinatal mental health as its 2022 Pitch Competition winner.

Candlelit (New York City) walks away with $50,000 in non-dilutive funding as well as special prizes from Texas Medical Center Innovation, Johnson & Johnson and ResMed.

Medtech Color and its panel of judges selected Candlelit last week. The company’s app focuses on women who are Black, Indigenous, and people of color.

Candlelit says on its website: “We’re dedicated to making sure Black women and women of color are valued, seen and respected in healthcare. When we feel off-balance mentally, it can feel easier to suffer in silence at work or home rather than seek help from professionals. That’s why we’re changing how women are screened, monitored and treated, especially when starting a family, to reduce their overall risk and symptoms of burnout, anxiety and depression through virtual consultations wit…

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Deadline nears for gBETA Medtech startup accelerator

The gBETA program for medtech startups is seeking applicants from across the globe on or before March 14 for its spring session.

The seven-week gBETA Medtech virtual accelerator runs April 18 through June 14. gBETA is a program of startup accelerator Gener8tor and the University Enterprise Labs business incubator in St. Paul, Minnesota, with support from Mayo Clinic, the University of Minnesota, Medical Alley Association and founding sponsor Boston Scientific.

Up to five startups will be selected for the medtech program, which covers medical devices, diagnostics, healthcare software, biotechnology, drug discovery and delivery and more. They’ll participate in webinars, regular meetings with the gBETA Medtech team, mentor and investor swarms — like speed dating sessions with founders, investors, serial entrepreneurs, technical professionals, board members and industry experts — and then a demo day and pitch night, followed by ongoing support after the progr…

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MassMEDIC Ignite alumni break $100M funding milestone

Embr Labs makes the wearable Wave device for cooling relief from menopausal hot flashes. [Image courtesy of Embr Labs]

CoreMap’s $23 million in recently closed funding officially puts MassMEDIC’s Ignite alumni from the past three years over the $100 million mark, the medtech accelerator said.

Fifty medtech startups have participated in MassMEDIC’s Ignite since the program relaunched in 2019. The program matches startup founders with mentors in leadership positions at New England medtech organizations, makes introductions to investors and offers networking and experiential training to boost the region’s industry.

“The experience of the program, the network of contacts and the MassMEDIC community of support continues to be of great value to us,” Sarah Kalil, co-founder and CEO of Burlington, Vermont–based CoreMap, said in a news release.

CoreMap leads all Ignite alumni …

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Medicine-saving Nanodropper makes history in Minnesota Cup win

The Nanodropper [Photo courtesy of Nanodropper]

The Minnesota Cup has awarded its grand prize for innovative entrepreneurs to a student-led startup for the first time.

Medical device developer Nanodropper took home top honors from the awards ceremony, held yesterday at the University of Minnesota.

“We have created an eyedrop bottle adaptor that will save billions in medication waste, one drop at a time,” Nanodropper CEO Allisa Song said.

Song, an MD candidate at the Mayo Clinic Alix School of Medicine in Rochester, Minnesota, launched the company with three other founders after learning that drug companies make eye drops too large to be fully absorbed, and that smaller drops are more efficient and just as efficacious.

Nanodropper CEO Allisa Song [Photo courtesy of Nanodropper]

Rochester-based Nanodropper reduces drop size from 40 mic…
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The top digital health startups in the world

About two-fifths of the startups in CB Insights’ second annual Digital Health 150 list are engaged in telehealth, a high-demand area amid the COVID-19 pandemic.

That is one of the big takeaways from the list of 150 promising digital health startups that CB Insights released today. CB Insights’ research team picked the 150 startups after using the company’s platform to evaluate nearly 8,000 startups on factors including patent activity, business relations, investor profile, news sentiment analysis, proprietary Mosaic scores, market potential, competitive landscape, team strength and tech novelty. (Download the full report here.)

The 62 telehealth startups on the list include telemedicine platforms such as cardiology platform Heartbeat Health (New York), virtual visit platform Doctor On Demand (San Francisco), and Livi medical app creator KRY (Stockholm, Sweden). There are remote monitoring and diagnostics companies including Oura (Oulu, Finland…

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WaveFront Dynamics opens HQ in New Mexico

Ophthalmic medical device startup WaveFront Dynamics has opened a 9,800 ft2 headquarters in Albuquerque, N.M.

WaveFront Dynamics CEO Dan Neal in a news release today described the one-year-old company as “not a typical seed-stage startup.”

The company has a fully staffed R&D team with state-of-the-art optical labs, optometry lane, and machine shops in place to drive our development efforts forward. The new office space is the first of several important changes for the organization as we prepare for the exciting road ahead,” Neal said.

WaveDyn is touting diagnostic technology that measures the eye dynamically, like a movie — versus a mere snapshot in time. , like a movie. The company says it plans to leverage the dynamic measurements to yield new insights into assessing visual performance, advancing treatment options, and improving quality of life for the visually impaired.

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20 medical device startups you need to know

The medtech industry isn’t immune from COVID-19 troubles, but exciting innovation continues. These 20 medical device startups have grabbed our attention.

Tom Salemi, DeviceTalks Editorial Director and Sean Whooley, Assistant Editor

A number of medical device startups continue to make waves across the space, with new technologies and eye-watering fundraising rounds highlighting some exciting prospects.

From treating children with congenital heart disease to therapy that alleviates the effects of traumatic nightmares — and with plenty more innovations between — there is no shortage of intriguing medical devices and therapies coming up through the ranks.

“Even in the face of the COVID-19 pandemic, we continue to see tremendous energy in the medtech innovation ecosystem,” said Paul Grand, CEO of MedTech Innovator. “We are noticing a strong trend of minimally invasive medical devices that improve patient outcomes and require less time spent in th…

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