mHUB opens applications for its 3rd MedTech accelerator to
support early-stage companies alongside industry partners with
diverse expertise in commercialization and product development.
CHICAGO, July 15,
2024 /PRNewswire-PRWeb/ -- mHUB, one of the nation's
leading independent hardtech and manufacturing innovation centers,
announces the launch of its next MedTech accelerator, which has
officially opened applications. The accelerator will be supported
by industry partners Baxter International Inc., Endeavor Health,
and GE HealthCare and will be the third MedTech cohort that mHUB
has funded since launching its first in 2021. The accelerator will
be led by industry veteran Monica
Vajani who has 18+ years of medical device, corporate
innovation, and startup advocacy experience.
"Partnerships with industry leaders such as
Baxter, Endeavor Health, and GE HealthCare provide startups with
invaluable insights from different vantage points of the healthcare
value chain," said Melissa Lederer,
Chief Experience Officer, mHUB, and Managing Partner, mHUB
Ventures.
Startups in the last MedTech cohort of the mHUB accelerator
completed the program with 15 patents filed, 10 clinical trials and
pilots, 8 employees hired, and 4.2 million
dollars raised. To date, mHUB has invested in 19 early-stage
MedTech startups and seeks to accept 8 – 10 into the next
accelerator with initial seed investment.
Together, Baxter, Endeavor Health, and GE HealthCare will guide
the accelerator's technological areas of focus and serve on the
selection committee to define the cohort. Throughout the program,
they will provide direct mentorship, industry insights, and
potential pilot opportunities to help startups refine their product
development and commercialization strategy. Both Baxter and
Endeavor Health previously partnered with mHUB on accelerator
programs.
"Baxter has been supporting healthcare innovation for nearly a
century with the mission of saving and sustaining lives worldwide,"
said Dan Wolf, Senior Vice
President, Chief Strategy and M&A Officer at Baxter.
"Innovation is key to meeting the current demands of patient care
and delivering new therapeutics to improve patient outcomes. Baxter
is pleased to be partnering with mHUB on its next MedTech
accelerator to uncover new opportunities for unmet clinical
needs."
"As part of Endeavor Health's commitment to setting a new
standard for healthcare, we are proud to support pioneering
innovators that have the potential to transform healthcare delivery
in our communities," said Kristen
Murtos, Chief Innovation and Transformation Officer,
Endeavor Health. "The mHUB accelerator program is a launching pad
for many new solutions and technologies that also inspires us to
challenge the status quo and ask how we can 'disrupt ourselves' in
our own organizations. We are excited to work with this cohort to
help accelerate and advance these efforts."
"We at GE HealthCare are excited to be part of mHUB to support
the advancement of new technologies and businesses. The opportunity
to help startups succeed as they bring new innovations to health
care and solve problems faced by patients and care providers aligns
with our purpose to create a world where healthcare has no limits,"
said Jay Hill, Vice President of
Advanced Technologies, GE HealthCare.
The mHUB accelerator is a 6-month, hands-on program focused on
product development and commercialization. Startups receive
$200K in cash and in-kind services to
support prototype development and commercialization plans with
access to mentors, strategic programming, legal assistance,
state-of-the-art-labs, and opportunities for marketing, pilots,
investment, and more.
The program's Executive Director, Monica
Vajani, brings extensive experience in healthcare and
medical devices. Previously, she served as the Executive Director
of Innovation at GHX, leading initiatives to streamline healthcare
supply chains. At CVS Health Monica was a Senior Advisor on the
Chronic Care Transformation team, and she led corporate
partnerships at healthcare incubator MATTER.
Monica started her career in clinical sales at Abbott and
Medtronic, working with over 40 hospitals in the Chicagoland area
to introduce innovative cardiac devices. Her diverse background in
innovation, chronic care management, and medical device sales
equips her to drive the success of mHUB's accelerator program.
"Our third MedTech accelerator is a testament to the power of
collaboration in healthcare innovation," said Monica Vajani, Executive Director, mHUB MedTech
Accelerator. "We are equipping early-stage companies with the
tools, advisors, and industry insights they need to successfully
develop novel technologies and bring them to market."
"Partnerships with industry leaders such as Baxter, Endeavor
Health, and GE HealthCare provide startups with invaluable insights
from different vantage points of the healthcare value chain," said
Melissa Lederer, Chief Experience
Officer, mHUB, and Managing Partner, mHUB Ventures. "The mHUB
accelerator and related fund is one of the leading opportunities
for early-stage medical device founders to quickly scale and unlock
valuable industry expertise, and I'm thrilled at the line-up of
leaders that will be supporting this next cohort."
Applications for the accelerator can be found here: mHUB MedTech
Accelerator.
The program will kick-off in November at mHUB, with exact dates
to be released in September. Other mHUB accelerator programs
include concentrations in smart and sustainable manufacturing and
climate and energy. For more information, visit
mhubchicago.com/accelerator.
About mHUB
mHUB is a leading independent hardtech and manufacturing
innovation center enabling the commercialization of solutions that
impact humanity and strengthening U.S. based manufacturing. The
mHUB community includes over 500 active and alumni startups and
small businesses supported by a deep talent pool of product
designers and developers, entrepreneurs and engineers,
manufacturers and corporate leaders, mentors, and investors. mHUB
provides a hyper-resourced environment to entrepreneurs with the
goal of commercializing new hardtech innovation that will lead to
new businesses, intellectual property, investment, revenue, and job
creation. Since launching in 2017, the mHUB community has generated
more than $1.57B in revenue, launched
more than 1,600 products, hired more than 6,400 employees, and
raised over $1.89B in capital. To
date, mHUB has invested in 46 startups across smart and sustainable
manufacturing, climate and energy tech, and medtech. Visit
mhubchicago.com to learn more, and follow mHUB on LinkedIn, X,
Instagram, and YouTube.
About Baxter
Every day, millions of patients, caregivers and healthcare
providers rely on Baxter's leading portfolio of diagnostic,
critical care, kidney care, nutrition, hospital and surgical
products used across patient homes, hospitals, physician offices
and other sites of care. For more than 90 years, we've been
operating at the critical intersection where innovations that save
and sustain lives meet the healthcare providers who make it happen.
With products, digital health solutions and therapies available in
more than 100 countries, Baxter's employees worldwide are now
building upon the company's rich heritage of medical breakthroughs
to advance the next generation of transformative healthcare
innovations. To learn more, visit www.baxter.com and follow us on
Twitter, LinkedIn and Facebook.
About Endeavor Health
Endeavor Health℠ is a Chicagoland-based integrated health system
driven by the mission to help everyone in their communities be
their best. Illinois'
third-largest health system and third-largest medical group serves
an area of more than 4.2 million residents across seven northeast
Illinois counties. More than
27,000 team members and more than 7,100 physician and advance
practice provider partners deliver seamless access to personalized,
pioneering, world-class patient care across more than 300
ambulatory locations and nine hospitals, including eight
Magnet-recognized acute care hospitals – Edward (Naperville), Elmhurst, Evanston, Glenbrook (Glenview), Highland
Park, Northwest Community
(Arlington Heights), Skokie and Swedish (Chicago) and Linden Oak Behavioral Health
Hospital (Naperville). For more
information, visit www.endeavorhealth.org.
About GE HealthCare Technologies Inc.
GE HealthCare is a leading global medical technology,
pharmaceutical diagnostics, and digital solutions innovator,
dedicated to providing integrated solutions, services, and data
analytics to make hospitals more efficient, clinicians more
effective, therapies more precise, and patients healthier and
happier. Serving patients and providers for more than 125 years, GE
HealthCare is advancing personalized, connected, and compassionate
care, while simplifying the patient's journey across the care
pathway. Together our Imaging, Ultrasound, Patient Care Solutions,
and Pharmaceutical Diagnostics businesses help improve patient care
from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with approximately 51,000
colleagues working to create a world where healthcare has no
limits. Follow us on LinkedIn, X (formerly Twitter), Facebook,
Instagram, and Insights for the latest news, or visit our
website https://www.gehealthcare.com/ for more information.
Media Contact
Kim Blomquist, mHUB, 1
872.222.5279, kim@mhubchicago.com, https://www.mhubchicago.com/
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SOURCE mHUB