It was a day for health care innovation.
Despite being the first time going virtual, the MedVentures conference virtual pitch competition hosted by Dallas-based health tech focused accelerator and incubator Health Wildcatters went off largely without a hitch.
Though some of the excitement of in-person competition was lacking, the 11 startups pitching their companies to a panel of 12 judges presented technologies that have the potential to change the operation of health care in the country.
“Of course there’s no way to ignore the current times,” said Huber Zajicek, CEO and co-founder of Health Wildcatters, at the competition. “Times are different every month right now. As entrepreneurs always be optimistic.”
The competition was particularly poignant due to the current pandemic, which was brought up often. During a presentation before the pitches, many local innovators said that the crisis has brought an increased focus on healthtech. And many of the products pitched have the potential to make an impact during the outbreak.
“People are being more conservative for sure out there and being more cautious, but deals are being done,” said JR Garcia, principal and VP of investments at Green Park & Golf Ventures, before the event.
With a number of interesting ideas, only one startup could come out on top. And that honor, along with a $5,000 cash prize and other in-kind gifts totaling $10,600 went to Ataia Medical.
Ataia is a Dallas-based startup focused on creating communications solutions for patients on non-invasive ventilators, through a communicator and patch that allows patients to speak through the ventilator mask. The company, launched in 2017, hopes to increase care outcomes by increasing communication between patient, family and doctor. The startup, led by co-founder Tyler Register, has received $300,000 in funding through a Seed round led by local firm Green Park & Golf Ventures. It was also a member of the Health Wildcatters fall 2017 cohort.
“We are empowering patients with the freedom to speak,” said Amy Foertsch, Ataia co-founder and COO, during her pitch.
Coming in behind Ataia in the No. 2 spot was Starling Medical, which took home an in-kind prize worth about $6,000. Third place went to CathBuddy, which won a prize worth $2,400. And fourth place was Bexson Biomedical, which won a little less than $2,000 in in-kind prizes.
You can check out the other companies that pitched their concepts below.
Bexson Biomedical (Fourth place winner) – This California-based development stage startup is working to develop tech-enabled ketamine formulations to threat pain disorders. The company said the non-opioid drug is better able to treat pain in patients without the negative side effects of many other pain drugs. Bexson is led by co-founder Gregg Peterson and is working to obtain patent protection for treatment in post-operative pain. The company has received funding through the Family Office Funding Challenge.
CathBuddy (Third place winner) – This New York-based startup is makes a reusable, modular closed-catheter system. The startup hopes its product will help cut down on UTIs and other disorders associated with single-use catheters. The company also says its product can save costs to patients and the environment, in terms of plastic waste. CathBuddy, which joined the Health Wildcatters 2019 cohort in September, is led by founder Souvik Paul.
CryoScope Medical – This New Jersey-based startup, still operating largely in stealth, is focused on developing a new type of endoscope that can be put through a patient’s nostril, removing the need for sedation. The company hopes its product, which uses cryogenic therapy combined with cameras, will help in the treatment of esophageal disorders. The company is currently working on getting its product through the approval process and is looking to raise $500,000 to expand its research and development. CryoScope is led by Jason Rahimzadeh.
Geo Med Alert – This Tampa-based startup’s technology could be one to come in handy during the current pandemic. Geo Med, led by Shane Smith, is developing a mobile app that combines AI and user-reported data to help health agencies detect and track outbreak using a subscription-based model.
Halo Health Systems – This Plano-based AI and IoT SaaS startup focuses on remote patient monitoring and engagement, workflow automation and drug development. The company hopes to cut down on on-site burdens for health care professionals. Halo, led by founder Veer Mehta, was also a member of the Health Wildcatters 2019 cohort.
Knkt’d Health – Launched in 2014, this Oregon-based startup’s software platform operates almost like a social media for patients and health care providers, allowing them to communicate with each other via the company’s app, as well as send push notifications about health updates. The company said its product will help streamline care, as well as increase engagement between patient and doctor. Knkt’d is led by founder Matthew Holland.
Medivizor – This New York-based startup, founded in 2012, sees its mission to improve the quality of life for those facing chronic medical conditions. It does this by sending personalized newsletters to users of its technology based their needs and the most up-to-date research and guidelines. The company is backed by Fuerst Technology Innovations, whose managing partner is also the founder of Medivizor. This year, the company was selected to be part of TeXchange 2020 Health Innovation with the UK Israel Tech Hub. Medivizor was also the winner of the Doctors 2.0 & You 2014 startup contest, as well as the winner of the startup contest at INTERFACE Digital Health Summit 2014 in Vancouver.
Mylestones – This St. Louis startup is working to preserve the memories of seniors through its app, which guides users through a series of questions about their life from childhood to adulthood, so that their answers can be shared with friends and family in the future. Founder Matthew Hansard said the idea came to him after attending a funeral and wondering if the pictures shown were really how the person would want to be remembered. The company, founded in 2016, has received $100,000 in a February Seed round led by Capital Investors, of which Mylestones was a part of its 2019 cohort.
Starling Medical (Second place winner) – Launched last year, this Houston-based medical device startup also operates in the catheter market. However, Starling’s product differs in that it uses AI to allow patients to monitor UTIs in real-time, as well as use the toilet normally. The company is led by Alex Arevalos. Starling Medical is the grand prize winner of the H. Albert Napier Rice Launch Challenge, which landed the company a cash prize of $20,000. It also has partnerships with Rice University, Baylor College of Medicine, Texas Children's Hospital and is a member of the Southwest National Pediatric Device Consortium.
Suquino Inc. – This California-based telehealth startup was launched in 2017 and is led by founder and president Ravi Amble. The company’s AI and ML platform and devices allow health care providers to monitor long-term care patients. Suquino was named a top 10 home health care solutions provider in 2019 by Healthcare Tech Outlook Magazine. It was also featured on The Silicon Review’s 10 Fastest Growing Healthcare Companies.
