Prana Thoracic Selected by MedTech Innovator as a Part of the 2023 Accelerator Cohort
MedTech Innovator, the world’s largest accelerator of medical technology companies, today announced the 2023 Accelerator Cohort. After a competitive selection process, 61 companies were chosen to participate in MedTech Innovator’s flagship four-month MedTech Accelerator program. Featuring medical device, diagnostic, and digital health companies from around the globe, the 2023 Cohort members will get unparalleled visibility and access to leading medtech manufacturers, providers, investors, and other industry stakeholders. MedTech Innovator will additionally award $800,000 in non-dilutive funding to winners of its competitions throughout the 2023 program.
“We are proud of our stellar track record of identifying and perfecting the most innovative medtech startups in the world. Since launching MedTech Innovator, more than 500 companies have completed the program, representing over 200 FDA approvals and clearances, and securing $6.8 billion in follow-on funding,” said Paul Grand, CEO and founder of MedTech Innovator. “The 2023 MedTech Innovator Cohort once again includes passionate medtech entrepreneurs from around the globe. We look forward to working with our corporate partners and industry advisors over the course of the program, to help these startups advance their medical device, diagnostic and digital health innovations to improve patient care.”
Approximately 1,150 companies applied to participate in the 2023 Accelerator. From that group, MedTech Innovator with its corporate partners and over 400 industry judges, advanced nearly 200 candidates to in-person pitch and partnering events on the MedTech Innovator Road Tour, where they met with over 300 evaluators representing leading industry stakeholders. Finally, after four months of diligence, this year’s cohort of 61 startups was selected, representing 21 U.S. states as well as Canada, Finland, France, Germany, Israel, Ireland, Japan, Kazakhstan, Luxembourg, Lithuania, Netherlands, Spain, Sweden, and the UK.
This year’s program launches June 14-15, at the invite-only Innovator Summit in Mountain View, Calif. Leaders from each of the 61 startups will attend networking events and workshops with MedTech Innovator’s partners, alumni, and other invited guests. The 2023 Cohort will then be featured June 16 at the WSGR Medical Device Conference in San Francisco. During the conference, all 61 companies will be showcased to investors and five startups will compete for the $25K Vision Award. The winner will be determined by a vote of the WSGR conference audience. First place will also be profiled in an issue of the MedTech Strategist. This is the first of five competitions in MedTech Innovator’s 2023 Accelerator program.
A subset of 42 early-stage companies will participate in MedTech Innovator’s corporate mentorship program, in which medtech startups are matched with senior industry leaders to receive continual in-depth, customized mentorship and support. Additionally, five companies have been selected to participate in the MTI/ASPS Plastic Surgery Accelerator track held in partnership with the American Society for Plastic Surgeons (ASPS). The companies will receive additional mentorship from ASPS plastic surgeons and mentors and will be featured at Plastic Surgery The Meeting on Oct. 26 to 29 in Austin, TX.
The program culminates at The MedTech Conference powered by AdvaMed, October 9-11, where all 61 companies will present in Showcase panels and gain access to industry and investor partnering opportunities. During the conference, five startups from the Accelerator Cohort will compete for the Execution Award, and another five companies will advance to compete in the Grand Finals competition. An audience vote will determine the winner of the $350,000 non-dilutive grand prize and the title of 2023 MedTech Innovator from the early-stage cohort, and a separate competition will award $300,000 in non-dilutive funding to winners of the mid-stage cohort.
MedTech Innovator’s sponsors and partners include founding sponsors Johnson & Johnson and RCT Ventures, and annual program sponsors include, Asahi Intecc, American Society of Plastic Surgeons (ASPS), Becton, Dickinson & Company, Dexcom, Edwards Lifesciences LLC, Fujikura Ltd., Jabil Healthcare, NIPRO Medical Corp., Olympus Corporation of the Americas, W. L. Gore & Associates, Inc., Zimmer Biomet, Medmarc, Medical Technology Enterprise Consortium (MTEC), Siemens industry Software Inc., Alira Health, Cambridge Consultants, part of Capgemini, Canon Quality Group, ERI Group, Greenlight Guru, NAMSA, Oliver Healthcare Packaging, Proxima Clinical Research, Sunrise Labs, Three Bridges Management & Consulting, Velentium, and Veranex. The organization’s additional industry partners include AdvaMed, Pazanga Health Communications, MedTech Strategist, DeviceTalks, and Wilson Sonsini Goodrich & Rosati.
About MedTech Innovator
Based in Los Angeles, MedTech Innovator is the world’s largest accelerator of medical technology companies and the premier nonprofit startup accelerator in the medical technology industry. Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the healthcare system. Since 2013, MedTech Innovator has reviewed more than 9,000 startups and graduated 509 companies that have gone on to raise more than $6.8 billion in follow-on funding and have brought over 200 products to market. MedTech Innovator works closely with stakeholders across the industry to promote the growth of early and mid-stage startups. In collaboration with 35 corporate partners, as well as a broader network of more than 1,000 industry executives including investors, business development representatives, and other stakeholders, MedTech Innovator provides startups with individualized mentorship and feedback, funding opportunities, and continual engagement with peers and advisors.