Innoblative Designs, a Northwestern medical startup, is winning everything. And for good reason.
The startup has developed an innovative device that destroys any residual cancer in a matter of minutes following breast cancer surgery. You can check out their elevator pitch below:
Here's a breakdown of their recent victories:
- On May 20th, Innoblative Designs won the 'Best New Medical Product' award at Stanford BASES 'Social E-Challenge.'
- Earlier this month, they were at the Global Venture Labs Investment Competition - the self-titled "Super Bowl of Investment Competitions" - and took home the Global Champion award, worth $78,000 in prize money.
- In mid April, the startup won the $20k prize in the 'Women's Health Category' at the renowned Rice Business Plan Competition.
- And just weeks before that, they won 'Best Business Plan' at the Oregon New Venture Championship.
- In just over a month, the company has won $150,000+ in prize money and grants.
However, unlike with digital startups where a high profile award can help propel a product right to market, medical devices and innovations cannot move that quickly. They need to pass clinical trials and rigorous regulatory tests before being approved by the American Medical Association. Which is where the prize money will come in handy.
The money affords Innoblative the time needed to get through the process and, as the Daily Northwestern reports, allows the company to attract new capital and hire more people.
And in the meantime, they can keep crushing competitions.
