Medical device incubators help startups and small businesses develop and take their products to market easily. Providing funding, innovation support, mentorship and networking opportunities, these incubators and accelerators play a huge role of a new medical device. Launching a medical device can be a challenging process, involving several steps that ensures the product meets all regulatory requirements. Working with medical device experts and medical writers can help speed up the process to market. Here are the top 11 medical device incubators that have launched several startups successfully.
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1. Global Center for Medical Innovation (GCMI)
Located in Atlanta, GA, GCMI is the Southeast’s first and solely comprehensive medical device incubator innovation centre, dedicated to accelerating development, building businesses and improving health. GCMI is successfully guiding medical innovation using proven high-quality processes. Since April 2012, they have worked with 50+ startups. They also serve Fortune 500 companies, academic organizations and government-funded innovators.
TMCX/TMCX+ Located in Houston, TX, The Texas Medical Centre is simply minutes away from Johnson & Johnson’s JLABs and AT&T Foundry for Connected Health. The Texas Medical Centre’s Innovation Institute (TMC) is an innovative place for Medical Technology where they have different programs like the incubator TMCx+ and the accelerator TMCx. They have over 100,000 square feet of space completely dedicated towards entrepreneurship and innovation. They’ve incubated companies like BetterConsult, Meru Health, Arterys, and more.
The Massachusetts Medical Device Development is based in Boston, MA. It provides medical device companies access to labs and researchers, high-quality medical testing equipment, and Boston’s venture capital and angel investment networks. M2D2 is a lifeline for the state’s smaller medical device companies, giving inventors and executives easy, affordable, and coordinated access to foremost researchers and resources at the UMass Lowell and the UMass Medical School campuses of the University of Massachusetts.
4. Health Wildcatters
Health Wildcatters was founded in 2013 to address the need for a health innovation hub in the Dallas/Fort Worth metroplex healthcare industry. They specialize in achieving short-term objectives by having a commitment to the 12-week program where startups are able to achieve results of months or years in only a few weeks. They’ve helped launch Cloud9, HealPal, Physmodo, and more.
MATTER is a healthcare startup incubator, community nexus and corporate innovation accelerator. They assist startups at all stages of growth solve the right healthcare issues in the right ways by solving their challenges and helping them innovate faster. Matter finds its home in Chicago, IL, and offers a spectacular network of healthcare mentors to facilitate startups that are launching new ventures within the medical device industry.
6. JLABS by Johnson & Johnson
Based in San Francisco, CA, Johnson & Johnson Innovation (JLABS) is a global network of open innovation ecosystems, enabling pharmaceutical, medical device, consumer and healthtech innovators to build life-enhancing solutions for well-being of patients around the world. JLABS provides the optimal environment for companies to catalyse growth by opening them to vital industry connections, delivering entrepreneurial programs and providing a flexible platform where they can come up with breakthrough healthcare solutions.
7. Fogarty Institute for Innovation
Innovation is the lifeblood of medical advancement, believes Dr. Thomas J. Fogarty, one of the most noted cardiovascular surgeons and innovators of all time and founder of the FII in 2007. FII helps medical device startups connect with expert mentors and receive in-depth support from team members and consultants. They work as a charitable non-profit organization by relying on donations for all kinds to be able to provide high quality support required for medical devices, including legal and regulatory support.
8. Medtech Innovator
MedTech Innovator is the industry’s nonprofit global competition and accelerator for medical device, digital health and diagnostic companies. They bring together manufacturers like Baxter and Amgen, providers like Mayo Clinic and UCLA Health, investors, service providers, trade associations and conferences. They have a program both in the US and in Asia-Pacific. They’ve successfully launched hundreds of medtech companies.
9. Zero to 510
Based in Memphis, TN, Zero to 510 help medical device companies connect with experts in regulatory affairs, pricing/reimbursement, manufacturing, prototyping, product development, legal affairs, and more. More than half their teams receive funding from their investor partners. Their portfolio companies include Fairway Biomed and GlocusAlarm.
10. The Foundry
The Foundry, LLC, which is located at Menlo Park, CA is the premier medical device company incubator. At The Foundry, inventors and entrepreneurs collaborate to bring products through development, regulatory approval and ultimately successful commercial release. They assist startups in seed, venture and corporate financing, IPO and acquisition. Their portfolio companies include Ardian (acquired by Medtronic) and Cotera.
For a national presence and a global reach, the most effective medical device accelerator is Healthbox in Chicago, IL. Healthbox launched in 2010 as one of the world’s first healthcare-focused accelerators. They have evolved from a healthcare technology accelerator into the innovation consulting and venture fund management firm and invest in several innovative startups in the areas of interoperability, precision medicine, patient access, and artificial intelligence.
Think we may have missed out a medical device incubator on this list? Leave your comments below and we’ll add it in.
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