M1 MedTech Accelerator Program Opens Applications to Early-Stage Medical Device Companies
HOUSTON--(BUSINESS WIRE)--M1 MedTech, a medical technology accelerator sponsored by Proxima Clinical Research, a contract research organization (CRO) based out of the Texas Medical Center, announced today it is accepting applications for its fall cohort. M1 MedTech is looking for five to seven of the most promising early-stage medical device companies to participate in its three-month program. The program has closed its first fund and will be selecting companies over the summer for investments up to $100,000 as a combination of both cash and in-kind services.
“We would like the companies to have completed preliminary testing but have not gone too far into the product development phase.
“Our program is unique in that it combines acceleration capital, company building expertise, and the regulatory and clinical services of a top CRO,” says Larry Lawson, a venture partner and investor with M1. “Access to the M1 founders’ network, both within and outside of the Texas Medical Center, sets these companies up for success. There’s no better group to build a MedTech company with, period.”
“Many MedTech companies are launched by innovative first-time founders with strong scientific and medical expertise, but who have never taken a regulated product to market or built a business. After working with so many companies at various stages of this journey to market, both with Proxima CRO and with accelerators from across the country, we realized there was a gap that needed to be filled for these rising founders. They not only need regulatory and clinical assistance from experts with hundreds of success stories in this field, we found they also need assistance with design, manufacturing, business, IP, and so much more,” says Isabella Schmitt, RAC, Director of Regulatory Affairs for Proxima CRO and Principle at M1. “These rising founders need to know what they don’t know; so, we put a lot of thought into what emerging companies and rising executives really need, and from that, we built the M1 curriculum.”
M1 MedTech was created to support early-stage medical device companies, offering an immersive experience that provides tangible benefits to participating companies. The program will take on a limited number of enterprises in each cohort and offer a direct approach to helping founders advance their companies and technologies. The coaching process will include a curated educational program, interactive workshops where participants can continually build out specific company deliverables, and tailored one-on-one mentoring.
“This is a very personalized program for early-stage companies focused on Class II and III medical devices,” said Sean Bittner, PhD, ACC, Director of Programs at M1 MedTech. “We’re excited to welcome our first cohort this August. The medical device companies that fit best with our program are in pre-seed or seed-stage, have completed a customer evaluation, know the issues they want to address, have not progressed far enough through the pipeline to have communicated with the FDA or completed preclinical or clinical testing,” says Bittner. “We would like the companies to have completed preliminary testing but have not gone too far into the product development phase.”
“This is a fantastic opportunity for an early-stage company to receive mentoring and guidance from a group of established individuals in the life sciences industry,” said Kevin Coker, CEO at Proxima CRO and Principal at M1 MedTech. “The hands-on 12-week workshop curriculum will cover a variety of topics including company formation and management, preclinical and clinical testing, regulatory approval, among other necessary guidance as their companies begin to mature. We are excited to aid the founders in rapidly advancing toward commercialization and prepare them for critical early investment stages.”
Experts from Greenlight Guru, Medrio, Galen Data, and Merge Medical Device Studio join Proxima CRO as sponsors of the program and will assist with content delivery and mentoring. Applications will remain open until May 31. To apply for the Fall 2022 cohort or to learn more about M1 MedTech, visit m1medtech.com.
About M1 MedTech
M1 MedTech is an accelerator/incubator designed to build MedTech companies. The program offers capital, entrepreneurial expertise, and CRO services, as well as an immersive experience offering a hands-on approach to guide founders as they become MedTech executives and advance their companies and technologies. The coaching process includes a curated educational program with a focus on regulatory and quality dynamics, one-on-one mentoring, and interactive workshops where participants can continually build out specific company deliverables.
Jennifer L. Horspool