Arizona State University teamed up with medical centre Mayo Clinic on Wednesday to launch a US-based medical device and healthcare technology accelerator called Mayo Clinic-ASU MedTech Accelerator.
MedTech Accelerator will give participants training to devise bespoke business development plans that lay the foundation for future collaborations with both ASU and Mayo Clinic, as well as the chance to seize go-to-market and investment opportunities.
The six-month initiative will begin with an immersion course from April 22 until May 3, 2019 at Mayo Clinic’s facility in Scottsdale, Arizona. It will provide incentives that encourage participants to remain based in the state.
MedTech Accelerator is currently accepting applications and is open to early-stage businesses in its target fields as well as growth and late-stage companies eyeing healthcare as an adjacent market for new products and services.
Applicants must be based in the US and have raised at least $500,000 in seed capital or achieved recurring revenue generation. Upon acceptance, they must sign a participation agreement and pay $50,000 in cash or convertible liquidity.
Steven Lester, chief medical officer of Mayo Clinic-ASU MedTech Accelerator, said: “We can help the participants to enhance the clinical and commercial interest, and viability of their healthcare solution.
“Our hope is that the businesses both gain knowledge to best forge their path forward as well as use the brand of the program to mitigate the risk when seeking investors.
“Above all, we want to truly translate idealism into action and help to invent the healthcare of tomorrow.”
The original version of this article appeared on our sister site, Global University Venturing.
