In announcements made in early 2015 by the popular tech news website TechCrunch and at the SXSW Interactive Festival, a medical device accelerator known as ZeroTo510 was listed among the leading programs in the US for growing early stage startups.
Based in Memphis, Tennessee, ZeroTo510 Medical Device Accelerator provides seed capital and an intensive 12-week program to help young companies develop their most innovative medical devices. The number of aspiring applicants to the program has increased dramatically since the accelerator began just four years ago. Despite growing competition from other up-and-coming accelerators, ZeroTo510 received numerous submissions from startups in every geographical region in the US, and in countries on six continents.
ZeroTo510 has a strong track record of successful medical device startups in a fairly short period of time. Since its inception, it has assisted in starting 16 new companies, which have collectively created 30 jobs and drawn well over $7 million in investments. Of those alumni companies, three are actively generating revenue in their respective markets. One has recently received product clearance from the U.S. Food and Drug Administration, and another one is currently treating patients in a study.
Four teams are participating in ZeroTo510 this year. These companies have received $50,000 in seed funding in order to develop their flagship products:
– GlucosAlarm: a device for measuring diabetics’ sugar levels.
– Inspire Living: an easy-to-use electronic monitor for a child’s health status.
– SiteSaver: a simple IV site preservation and protection technology.
– SweetBio: a tissue regeneration membrane for use in oral surgery.
ZeroTo510, which has been particularly successful as a medical industry accelerator, has attracted a lot of attention—not only in the U.S., but around the world. The Seed Accelerator Rankings Project named it one of the Top 15 most effective accelerators across all industries in the U.S. In addition, an accelerator recently established in Australia is closely modeled on ZeroTo510.
As more tech accelerators like ZeroTo510 are inspired to support international health care entrepreneurs, we can hopefully expect to see an increasing number of truly innovative medical devices on the market in the coming years.