Texas Medical Center (TMC) and the BioInnovation Institute (BII) announced today that three start-ups from BII will join a customized accelerator program tailored for helping startups build their US go-to-market strategy. The specialized accelerator is modeled and builds off the success of the TMC Innovation (TMCi) Health Tech Accelerator program. The Denmark Biobridge between the TMC and the Ministry of Foreign Affairs of Denmark was signed in 2019.
TMC Innovation Factory offers a strategic entry point with training, access, and support for these small and medium-sized enterprises seeking to learn, expand and commercialize in the US market. Founders will be immersed in an intensive program to learn about the potential challenges companies face when entering global business markets and connect with experts who can help them strategically navigate these hurdles.
“At TMC, we are elevating our ability to create curated go-to-market experiences for hand-selected companies that have a relationship with our partners at the BioInnovation Institute and that are seeking to prepare for market expansion in the US,” said Emily Reiser, Associate Director of TMC Innovation. “We are excited about the opportunity to collaborate with BII and these founders.”
BioInnovation Institute (BII) accelerates world-class life science start-up innovation for the benefit of people and society. As a non-profit institute, BII operates the company creation programs, Bio Studio, Venture Lab, and Venture House, to support life science start-ups with knowledge, network, infrastructure, and funding of up to 3M EUR per project and 1,8 M EUR per start-up. Through its expertise, network, funding, and infrastructure, BII assists start-ups in bringing ideas to life and research to market, and since its inauguration in 2018, BII has financially supported 80 early-stage startups that have raised more than 413M EUR in external funding.
“As we strengthen our offering to support visionary healthcare innovators to develop products and solutions to address clear unmet needs, our collaboration with Texas Medical Center allows BII startups to gain exposure to the US market and ready themselves for US market entry. We are thrilled about this collaboration with the Texas Medical Center, which is one of the largest life science ecosystems in the world,” said Tony Cheng-fu Chang, Principal at BioInnovation Institute. “Through the customized accelerator program, these three healthcare startups will acquire critical insights to create field-ready plans for bringing their products and solutions to the US market.”
The startups’ areas of focus range from surgical devices to AI-enabled risk stratification and hospital efficiency. The selected cohort members are as follows:
Aiomic is developing a cutting-edge AI-platform (Aiomic360) to combat postoperative complications. With automated tracking and real-time risk assessment, Aiomic360 will function as a quality management tool for hospitals, a decision support tool for healthcare practitioners, and an individualized patient empowerment tool for surgical candidates.
Orbit Health has developed an AI-based enabling solution, Neptune, which turns simple motion data from smartwatches to Parkinson’s Disease motor state and treatment response insights. It enables regular treatment personalization that is needed throughout the course of the disease to optimize patient outcomes and improve their quality of life.
HEI Therapeutics is developing the world’s first at-home disease management solution for patients with hypothyroidism. The innovative solution includes a patented finger stick blood test and digital patient empowerment tools and aims to reduce the share of poorly regulated patients with medication significantly.
Program participants will travel to Houston on May 11, 2023, for an inaugural session to undertake preliminary customer validation, followed by six months in the incubator where founders will be able to experience a tailored program working with TMCi advisors and mentors to refine their strategic development plan and maximize their incubation experience.