MedTech fund opens $550K fund to support med-tech start-ups

Kaitlyn Carson and Muhammed Hamadan, participants from a past tech sprint where a group spent a week prototyping a med-tech product. CONTRIBUTED
Kaitlyn Carson and Muhammed Hamadan, participants from a past tech sprint where a group spent a week prototyping a med-tech product. CONTRIBUTED

Focus of collaborative effort is to help region spin out new technologies faster.

New medical technology start-ups looking for capital may have a new partner.

Applications are open for the MedTech Launch Fund, which aims to pump $550,000 into medical-technology startups across the Dayton region.

The MedTech Launch Fund is a collaborative brand between several entrepreneurial resource organizations in Dayton, including the Wright State Applied Research Corp.

The fund is meant to aid the the development of medical technology opportunities in the Dayton region by funding alpha prototype development with an eye on moving toward commercialization.

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“The MedTech Launch Fund is part of a new collaborative effort to align the Dayton region’s healthcare specialization, defense research assets and entrepreneurial ecosystem to spin out new medical technologies faster,” the Wright State Applied Research Corp. (WSARC) said in an announcement.

The Launch Dayton partner organization of WSARC was awarded a $200,000 Technology Validation and Startup Fund grant from Ohio Third Frontier in July to launch this new initiative, WSARC said. The effort is also backed by $330,000 from the Economic Development Administration’s i6 program.

WSARC’s Launch Dayton efforts are also supported by the Entrepreneurial Services Provider program, administered locally by The Entrepreneurs Center in Dayton.

“WSARC is thrilled to create the region’s newest startup fund to push the region’s innovation to market,” Dennis Andersh, WSARC chief executive, said in the announcement.

Governed by strict regulatory standards, medical technology can take longer than other industries to push products to markets.

While the Dayton region is rich in R&D institutions, entrepreneurs who want to get those technologies out of the labs and into the healthcare system often lack necessary resources to build and test prototypes, WSARC said.

“The MedTech Launch Fund will provide gap funding to help regional medtech entrepreneurs build the prototypes they need to seek angel and pre-seed investment,” the research corporation said.

Apply for the first round of funding at https://gust.com/programs/medtech-launch-fund.

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