For medical device startups, there are not many incubators for them. They must cross the sacred mountains of the system to match the business model of the medical incubator, or they can be favored by investors.
Currently, the world's largest medical center is focusing on medical device companies. Founded in 1945, the Texas Medical Center (TMC) in Houston is the world's largest medical center with high-density clinical patient care facilities, basic science, and translational research. The center has 54 non-profit related medical institutions. At the same time, the Texas Medical Center is the center of the eighth largest business district in the United States, providing the largest air ambulance service. The center has 13,600 heart surgery rooms, providing a total of more than 9,200 patient beds, with an average of one operation every 3 minutes, and one baby born every 20 minutes.
TMC's Innovation Institute announced on Wednesday that 11 medical device startups will travel to the center to join a 15-week program.
The incubation project, called TCMx, has invited startups to visit Houston in the past two years, and this is the first time specifically for medical device companies. “There are very few incubator projects for medical device startups, so we are filling the gaps in the life science ecosystem,†said Dr. Erik M. Halvorsen, Director of the TMC Innovation Institute, in a statement.
In addition, the only other medical technology incubator that can be conceived is called “0 to 510†(Zeroto 510), which is located in Memphis, Tennessee. The name comes from a regulatory approach called 510(k), which is used by the Food and Drug Administration to approve the listing of most medical devices.
“0 to 510†adopts the future equity simplification agreement, that is, the SAFE model invented by the well-known technology incubator YCombinator, in exchange for an investment of US$50,000, while TMCx does not have an interest and does not seem to invest. The Texas incubator pleaded with the selected startups to send at least one founder to Houston to participate in the 15-week project. The project will end in November 2016's “Show Dayâ€.
In the project, entrepreneurs will be introduced to stakeholders from 56 member institutions of Texas Medical Center, including doctors and scientists serving the community. Access to the clinical environment is a must for any medical incubator project, which is especially valuable for medical device startups, where products are usually used by doctors.
Although TCMx's focus this year is on medical equipment, it will return to picking up digital startups next year. The goal is to alternate between medical devices and digital health, and in this fun and savvy game, health care and emerging connected devices can meet in the context of the Internet. The application for the fourth phase of the Digital Health Army began on August 17.
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