Summary:
MedTech Innovator has announced the finalists for its Mid-Stage and Value Award Competitions, with Ozlo and Somnics Health among those selected. Ozlo, based in Boston, is developing Bluetooth earbuds for uninterrupted sleep, while Somnics Health, based in Redwood City, Calif, is working on a portable treatment for obstructive sleep apnea. The competitions will take place at the MedTech Strategist Innovation Summit, where each finalist will present to a live audience and compete for awards, including a $200,000 grand prize.
Key Takeaways:
- Sleep Tech Finalists: Ozlo and Somnics Health, finalists in the competition, are developing innovative sleep solutions to address insomnia and sleep apnea, respectively.
- High-Stakes Competition: The finalists will pitch their technologies at the MedTech Strategist Innovation Summit, with audience voting to determine the winners of the Mid-Stage and Value Awards.
- Significant Funding Opportunities: Each finalist will receive a minimum of $25,000, with the top award providing $200,000 in non-dilutive funding, supporting further development and industry recognition.
MedTech Innovator, an accelerator for medical technology companies, announced the finalists for its Mid-Stage and Value Award Competitions, with two companies focused on innovative sleep solutions among the contenders in the Mid-Stage Competition.
Out of thousands of applicants, the finalists were chosen from the 65 companies selected to participate in MedTech Innovator’s flagship four-month accelerator program. Featuring medical device, diagnostic, and digital health companies from around the globe, the 2024 finalists received visibility and access to leading medtech manufacturers, providers, investors, and other industry stakeholders.
The 2024 Mid-Stage and Value Award competitions will take place during the MedTech Strategist Innovation Summit in San Diego, with the Value Award Competition taking place on Tuesday, Nov 19, at 4:40 pm, and the Mid-Stage Competition finals taking place on Wednesday, Nov 20, at 5:10 pm. During the competitions, each company will pitch their technology and answer questions from a panel of judges. After the presentations, the audience will vote in real-time to select the winner.
Mid-Stage Competition Featuring Sleep Innovators
The Mid-Stage Competition was launched in 2023 to allow more mature companies in the accelerator cohort to compete for recognition and cash awards. The mid-stage companies selected for the 2024 cohort were chosen based on their value propositions, achievements to date, and likelihood to transform care.
Each finalist will receive at least $25,000 in non-dilutive funding and have the chance to compete for the $200,000 Mid-Stage Grand Prize Award. The four finalists for the Mid-Stage Competition, recognizing their achievement and potential, are:
- Ozlo (Boston): developing tiny Bluetooth earbuds to help people sleep, even in noisy rooms and any sleeping position
- Somnics Health (Redwood City, Calif.): developing an effective, easy, and portable treatment for all severities of obstructive sleep apnea
- Arsenal Medical (Waltham, Mass): developing innovative biomaterials as transformative medical devices
- LATTICE Medical (Loos, France): developing a resorbable 3D-printed tissue bioprosthesis to personalize breast reconstruction after mastectomy
Value Award Competition
Additionally, five finalists will compete for the $25,000 Value Award, recognizing the development of outstanding value propositions in their respective clinical areas. All participants in the MedTech Innovator accelerator had the opportunity to refine their value propositions over several months with input from MedTech Innovator’s 27 value coaches. The value coaches nominated 35 companies for the finals, from which 15 were shortlisted for consideration, and after a vote by MedTech Innovator’s selection committee, the 2024 Value Award finalists are:
- Cellular Vehicles (San Mateo, Calif): developing a process automation technology to standardize cell/gene therapy delivery
- CranioSense (Boston): developing a non-invasive device to help medical professionals diagnose elevated brain pressure
- Flow Medical (Chicago): developing a pulmonary embolism catheter to infuse thrombolytic agents and offer real-time hemodynamic monitoring
- iCE Neurosystems (Washington, DC): developing a comprehensive device-and-data platform to revolutionize brain care in critically ill patients
- myBiometry (Boston): developing a breath test and digital solution to help identify the risk of asthma or COPD attack 20 days before symptoms present
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