Midwest startup accelerator gener8tor announced Tuesday that it has selected five companies to participate in the latest gBETA Medtech accelerator, a program for startups seeking to improve patient experiences through medical devices, software and care management.
gener8tor's gBETA programs don't require fees or equity from founders. Participants receive coaching and access to gener8tor's national network of mentors, customers, corporate partners and investors. The accelerator is designed 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.
The gBETA Medtech program, now two years old, is intended for medical device startups and healthcare-related software companies, as well as those specializing in biotech and diagnostics.
The accelerator is backed by a group of local industry powerhouses that includes Boston Scientific, University Enterprise Laboratories, Medical Alley Association, the University of Minnesota and Mayo Clinic.
"gBETA brings entrepreneurs into the center of conversations with major players and gives them the resources they need to take their ideas to the next level," David Knapp, vice president of corporate research at Boston Scientific, said in a statement. "Together, we're eager to unlock new opportunities to transform patient care and uncover meaningful innovations that will make a difference for patients around the world."
This cohort will be the first under the leadership of Jackie Mejia. The new gBETA Medtech director joins gener8tor after working for several years as a research scientist and lab manager. She also participated in the 2016 gBETA Madison program.
The gBETA Medtech cohort, which runs once a year, kicked off on Feb. 13. It will conclude with a pitch night on April 2.
Here are the five companies in the new gBETA Medtech accelerator, with descriptions provided by gener8tor.
- Anatomi Corp: Minneapolis-based Anatomi's technology enables the manufacture of functional human neurons from stem cells within one week. This accelerates drug development pipelines for pharmaceutical companies discovering treatments for conditions like chronic pain, Alzheimer’s and Parkinson’s Diseases.
- Laplace Interventional: Maple Grove-based Laplace is creating a device aimed at increasing the life expectancy of patients diagnosed with Tricuspid Regurgitation. TR occurs when the tricuspid valve leaks resulting in right-side heart failure and high mortality rates. Laplace Interventional's artificial valve is delivered through a simple minimally invasive procedure, hopefully reducing future complications in patients.
- Sandstone Diagnostics: Pleasanton, Calif.-based Sandstone offers a system that enables access to lab testing by bringing its centrifuge system directly to patients. The patent-pending Torq System includes a handheld, battery-powered centrifuge and single-use discs providing automated plasma or serum separation at the point of blood collection (instead of waiting until samples arrive at the lab).
- Stim Sherpa: This Minneapolis-based startup is creating a digital tuning platform and algorithm that optimizes neurostimulation for individuals with spinal cord injury. Stim Sherpa estimates that hundreds of thousands of individuals suffer from loss of control over blood pressure, bladder, bowel and sexual function, temperature regulation and movement. The company says its algorithm identifies optimal patient-centric settings and has enabled a rapidly-growing clinical trial in the spinal cord injury space.
- Visana Health: Visana Health, also from the Twin Cities, offers a digital health program focused on improving the quality of life for women who suffer from severe menstrual pain. Since launching earlier this year, Visana has started pilots with Mayo Clinic, Medical College of Wisconsin and the University of North Carolina.
