Snag $60K in final round of MedTech Launch Fund
February 1, 2022
Have a medical technology you want to get out of the lab and into the world to make a difference?
The fund, which supports prototype development, is designed to help researchers bridge the “uncanny valley” between really promising research to a physical prototype that is ready to be shared with investors.
Fund managers have funding for one more award, up to $60K. Apply by Feb. 18, 2022.
Wonder what happens if you get funding?
Luis Estevez was a university researcher without any formal business background when he founded AIMM and stepped onto the path to medical device entrepreneurship. He is funneling 10+ years of materials science expertise into his startup, which specializes in antimicrobial coatings for porous materials that activate with simple water.
He is currently developing a self-disinfecting N95 respirator mask, and the MedTech Launch Fund is supporting prototype development and testing.
“We’ve already spoken to few folks who can help with the scale up, big companies that have done this before, or that work with PPE. They’ve all said, if you get to a prototype, let us know, we’re interested. But they won’t move until you have that prototype,” Estevez said. “It’s crucial to get the technology from that promising, early stage to an actual prototype, and that’s what we’ll have when we’re done with the fund.”
Estevez was accepted into the MedTech Launch Fund in February 2021. The process was simple he said — a written application and a quick pitch.
“The pitch is what I was most worried about. You’re thrown into a room with smart people who know how to poke and prod,” he recalled. “But they saw through my green-ness, to the enthusiasm behind it, and saw what we were trying to do. I was worried about my proposal being too risky, but they knew how to de-risk it. They met me at my level.”
The selection committee asked good questions, and he was prepared to answer them — and you will be too, Estevez says.
“You know your technology, you have a plan for how it will get to market, so you’ll be ready for the conversation,” he said.
The MedTech Launch Fund is designed for someone exactly like Estevez, he reflected — beyond the ideation stage, but not fully developed.
“They’re really focused on helping you move your technology forward,” he said.
Ready to move your technology forward?
The MedTech Launch Fund is managed by Launch Dayton partner Parallax Advanced Research and funded by Ohio Third Frontier & the Economic Development Administration’s i6 program.