Entrepreneurs and Innovators Come Together in Baltimore to Compete for a Spot in World’s Largest Medtech Accelerator
By Sarah Ellinwood
April 11, 2023
At the tail end of March, approximately 90 companies from across the country (and some even across the Atlantic) flocked to the IMET in Baltimore’s Inner Harbor to pitch at the Medtech Innovator (MTI) and BioTools Innovator (BTI) roadshows. The first day of the conference was focused on biotools candidates, while the second and third days featured medtech candidates pitching their products.
This was the first time the two roadshows were hosted in Baltimore, which was incredibly exciting not just for Baltimoreans, but for Maryland as a whole. In addition to further solidifying Charm City’s place as a competitive medtech hub, this year’s competitions also marked the first year of being back in-person since COVID took its grip in March 2020.
Among the competitors, local BioHealth Capital Region companies included JuneBrain, NanoBioFAB, Nanochon, Sonavi Labs, and Synaps Dx, among others.
Pictures from the MTI Roadshow (SOURCE: MTI and BioBuzz)
“The Medtech Innovator and BioTools Innovator East Coast Pitch Event is one of several stops on our annual Road Tour, a series of events held in the US and internationally. Each event features startups selected from this year’s pool of 1,400+ applications and serves to identify this year’s Accelerator cohort,” said Kathryn Zavala, PhD, Chief Operating Officer at MedTech Innovator, in a statement for BioBuzz. “Our strategic partners attend from around the country, so we are selective in choosing the host city. We were thrilled to work with the Maryland Department of Commerce and The Launchport to bring this event to Baltimore. Charm City is the ideal venue for its economic activity and innovation in the life sciences as well as its active ecosystem.”
The MedTech Innovator is the largest medtech accelerator in the world and is one of the industry’s most renowned competitions for innovative medical device, digital health and diagnostic companies. Each year, MedTech Innovator recognizes the 50 best-in-class startups and scaleups across the field, and 25 of those companies will receive a place in the MedTech Innovator Accelerator, a 4-month virtual program from June to October, commencing with a Summit that includes exclusive networking, workshops, and pitching with investors, manufacturers, providers, and customers. The Accelerator program concludes with all 25 companies participating in the Accel Leadership Seminar, the MedTech Innovator Showcase, and an opportunity to compete to present in the finals at The MedTech Conference in the fall.
Benjamin Holmes, CEO at DC-based Nanochon, said it was his first time presenting at the MTI roadshow. “I always love telling the story of my company, so any opportunity to do that on a larger platform means a lot to me. I also really enjoyed networking with my peers: the other CEOs and entrepreneurs at the event,” he said. “I think that the Baltimore life science ecosystem is thriving with people that are intelligent, passionate, but humble. Every time I’m in Baltimore a make a new colleague or connection that I enjoy.” Nanochon’s Chondrograft™ technology is designed to replace lost or damaged cartilage and encourage new growth using innovative materials and 3D-printed designs.
The BioTools Innovator, on the other hand, is the first dedicated accelerator program focused on the unique needs of life science tools companies, with four months of mentorship and culminating with a showcase and up to $300,000 in non-dilutive prizes. BioTools Innovator’s scope of companies includes research products, manufacturing services, diagnostics, and drug discovery technologies.
Joanna Nathan, CEO and co-founder of Prana Thoracic, traveled all the way from Houston, Texas to talk about how the company’s ThoraCore™ technology can potentially provide a more minimally-invasive option for the detection and intervention of early-stage lung cancer. Prana just recently raised a Series A round and is on the path to starting first-in-human studies in 2024. “The event has been great. It’s been a wonderful experience meeting new people and networking, especially since we’re new to the medtech community and had been in stealth for awhile. I’ve been to Baltimore before, and it’s great to be back in the harbor,” she said in an interview with BioBuzz.
For Somer Baburek, CEO and co-founder of HERA Biotech, also based out of Texas, this was her first time not only to Baltimore, but to Maryland. “I’m so excited to be here – it’s a beautiful state,” she said. HERA is developing the world’s first non-surgical test for diagnosis and staging of endometriosis. “I spent about 10 years in life science venture capital, and I didn’t see any women’s health deals, and I really wanted to change that.”
Like Holmes, this was also Baburek’s first time presenting at the MTI Roadshow. “It’s definitely been intense and a bit intimidating – between the 1-minute pitch and rotating between tables. But everybody has been really warm and have been asking really great questions,” she added The company is poised to have clinical results later this year, and from there have big plans to start raising for a Series A round.
“What an incredibly stimulating (and fun) event! So many people came together to give, share, and support medtech innovation. The founders and their companies were so creative in solving important problems, and I’ve never seen an event so full of supportive individuals actively contributing and giving their feedback,” added Dr. Nao Gamo, local entrepreneur and one of the event’s judges.
In addition to several workshops offered in between pitches, The LaunchPort welcomed approximately 300 local VIP’s, visiting national judges, and competing teams to City Garage Science and Technology Center to celebrate and learn more about the life science innovation coming out of Charm City.
Pictures from the reception at City Garage Science and Technology Center (SOURCE: BioBuzz)
The reception was sponsored by LaunchPort, Abell Foundation, South Duvall Development and an anonymous Foundation donor active in the region’s entrepreneurial ecosystem. Local companies Guilford Brewery and Sagamore Spirits also donated refreshments.
“It was great to see so many people from the Maryland medtech community come out for the MTI Reception at City Garage to welcome the entrepreneurs and industry leaders from across the country and showcase Baltimore’s vibrant innovation ecosystem,” said Chris Frew, founder and CEO of BioBuzz and Workforce Genetics. “We heard from several attendees how Baltimore was nothing like they expected, in a great way. I am sure that there are now many more people who now recognize Baltimore as a great city for medtech innovation.”
Congratulations to all the companies who competed, from Baltimore to San Francisco and even across the Atlantic. While the Baltimore East Coast event might have passed, the competition is still heating up. This week marks two virtual pitch events, followed by the International roadshow in Dublin. MTI plans to announce the Accelerator selections in late May.
- About the Author
- Latest Posts
Sarah Ellinwood is BioBuzz’s Managing Editor. A scientist by training and a science communicator at heart, Sarah specializes in making complex concepts understandable, engaging, and exciting. She received her Ph.D. in molecular and cellular biology with a focus in infectious disease immunology from the University of Maryland and is passionate about all things related to scicomm, peer mentorship, and women in STEM.
