The Minneapolis arm of Midwest startup accelerator gener8tor announced on Thursday the latest class of its gBETA Medtech accelerator, a program for growing, early stage medical-technology startups.
gBETA Medtech is a free, seven-week accelerator that works with medical device, healthcare-related software, biotech and diasnostics statups for no fees and no equity. Participants receive individualized coaching and access to physicians, researchers, potential investors and industry experts.
The program is intended to help startups gain early customer traction on their product or idea, and establish metrics that can make them competitive applicants for full-time, equity-based accelerators or seed investment.
Gener8tor announced the launch of gBETA Medtech this spring, the first in a series of industry-specific programs the accelerator debuted in 2018. This is the third and final gBETA cohort of the year.
Gener8tor partnered with Mayo Clinic, the University of Minnesota and Boston Scientific (which is funding the accelerator) to get the program off the ground.
Bryan Clark, a research fellow with Boston Scientific, has been involved with gBETA Medtech since the start. Clark said the program is beneficial not only for the startups involved, but for their med-tech mentors as well.
"We both take something away from every exchange," Clark told Minne Inno. "For us, it's fun to see how these companies move and think. The Boston Scientific people are invigorated by it. It gives them an opportunity to flex their creativity and apply their skills to a completely different space."
Minnesota has long been a leader in medical technology. The state is home to hundreds of medical device companies that employ nearly 30,000 people and generate billions in revenue, according to the Minnesota Department of Employment and Economic Development. In addition to Boston Scientific, the state is also home to industry powerhouses like Medtronic and the Mayo Clinic.
Here are the six members of the fall 2018 gBETA Medtech cohort:
CorInnova (Houston, Texas): Designs and develops a soft, robotic non-blood contracting biventricular cardiac assist device for treating heart failure.
Drug Free Therapeutix (Indianapolis, Indiana): Designs and develops an intelligent, networked, non-invasive, closed-loop vagal nerve stimulation technology that uses artificial intelligence and machine learning to treat a variety of pain and gastrointestinal disorders.
HabitAware (Minneapolis, Minnesota): Makes Keen, a smart bracelet that helps people manage compulsive behaviors, including hair pulling, skin picking, nail biting and more. HabitAware is the winner of the 2018 Minnesota Cup.
Nutrimedy (Boston, Massachusetts): Improves the care delivery model for clinical nutrition by connecting patients with registered dietitians to provide education, support and counseling for over 50 conditions through a web platform and mobile app.
Phraze (San Francisco, California): Automates physician electronic medical record data entry and documentation requirements using an artificial intelligence-powered scribe.
Vital Health Links (Woodbury, Minnesota): Specializes in helping medical practices and healthcare organizations realize new revenue and improve quality metrics through Medicare's Chronic Care Management program.
