HOUSTON, TX / ACCESSWIRE / December 6, 2022 / M1 MedTech, a medical technology accelerator based in the Texas Medical Center, announced the completion of its inaugural cohort. M1 MedTech offers a unique program combining MedTech innovation with end-to-end insight for cohort participants.
M1 MedTech is an accelerator for earliest stage medical device companies to learn the foundational aspects required to set up and run a highly successful company in today's competitive landscape.
The M1 MedTech program offers early-stage medical device companies the entrepreneurial expertise, immersive experience, and hands-on approach needed to prepare companies to turn their ideas into thriving businesses.
Newly graduated from an educational curriculum aimed at bridging the gaps between ideas and marketability, these MedTech companies are poised for success on their journey to market.
The M1 MedTech 2022 Cohort consisted of five of the most promising medical technology startups this year:
- Linovasc, led by founder Bruce Addis
- Grapheton Inc., led by CEO Terry Lingren
- Rhythio Medical led by co-founders Kunal Shah, CEO andSavannah Esteve, Head of Product
- PONS Technology, led by co-founders Soner Haci and Ilker Hacihaliloglu
- Vivifi Medical, led by founder Tushar Sharma
"It was amazing to watch the personal and technical growth of each founder over the past 13 weeks," says Sean Bittner, PhD, ACC, Director of Programs at M1 MedTech. "Seeing the noticeable increase in each founder's confidence and ability to pitch, hit new milestones, raise funds, and start pilot studies is what M1 MedTech is all about. We are excited to see what these founders will accomplish with their MedTech devices in the future."
Members of the cohort learned vital skills for building and running a medical device company from industry experts in each respective field, addressing topics such as:
- Business planning, intellectual property, and company formation
- Device Design, controls design, risk management, and reimbursement
- Regulatory Strategy
- Quality management
- Clinical Trial Design and Planning
- Non-clinical testing design and planning
"One of our main goals was to learn more about the regulatory environment and how to get what we do through FDA approval or overseas approval. I certainly achieved that; and in fact filled in much of the auxiliary information, too. Like setting up a quality management system or doing risk assessment analysis, in addition to changing our strategy on how we're going through regulatory approval," said Lingren, Graphton. "I came in with a completely different idea… now we're pursuing a very different strategy based on things that I've learned here at the accelerator."
"The reason I would recommend an accelerator like M1 is that I didn't even know what I didn't know 12 weeks ago. Having gone through the course, it's like I can look back and say, wow, I was so far behind the curve then. I feel like now I've caught up. Now I feel like I've got some momentum. And I guess that's what an accelerator is supposed to do, give you some momentum," said Lingren.
"I would recommend someone who is considering entering an accelerator to really look at M1 because, without a program like this, you're going in blind," said Addis, Linovasc.
"When you work in medical, the important part is an extraction of important information. The M1 MedTech program is like that," said Hacihaliloglu, PONS. "We have a better deck, we can pitch better, and we're connecting to different investors as well. That's very valuable and I feel like, although the program is finished, we're still part of this family."
"I think M1 has directly made me, as a leader, better at the aspects of running a company that they don't teach you when you train as an engineer," said Shah, Rhythio Medical.
"A specific goal that M1 really helped us achieve was the regulatory strategy," said Sharma, Vivifi Medical. "We have a lot more clarity now on the pathway and what it would take to get to that meeting with the FDA. And the best part: since M1 MedTech is sponsored by Proxima Clinical Research, we have resources to get our pre-sub done at virtually no additional cost to us. It's a huge benefit for any participant going through the M1 program because the FDA submission is going to be one of the key steps for commercialization of all MedTech companies."
M1 MedTech first cohort was sponsored by Aleberry Creative, Cooper Consulting Service, Cortex Design, Galen Data, Greenlight Guru, Higginbotham, Medical Murray, Merge Medical Device Studio, Medrio,Proxima Clinical Research, and Smart-Trial. Experts from the sponsoring companies, together with Engagement PR & Marketing, Venn Negotiation, and a dozen other consultants and service providers educated, coached, and supported the founders of the cohort in driving their MedTech device toward commercialization.
"We set out to create an accelerator program that would guide earliest stage MedTech companies through every aspect of launching a successful company," says Isabella Schmitt, RAC, principal at M1 MedTech. "Based on the feedback and having watched the growth of each individual in the program, I'd say we successfully accomplished our goal. I'm excited to watch this group advance their companies and bring their inventions to market."
Learn more about each M1 MedTech cohort graduate via these videos:
- Linovasc 2-minute video
- Grapheton Inc 2-minute video
- Rhythio Medical 2-minute video
- PONS Technology 2-minute video
- Vivifi Medical 2-minute video
M1 MedTech Videos
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