An Indianapolis-based medical technology startup has been selected to take part in a global accelerator program for medical device companies. FAST BioMedical is one of 50 companies selected for MedTech Innovator’s 2021 Top 50 Showcase.
MedTech, which is headquartered in California, helps to accelerate the growth of companies that hope to transform the health care system.
As previously reported on Inside INdiana Business, FAST BioMedical is a clinical-stage company developing tools to help patients facing heart or renal failure. Its technology measures blood volume and kidney function.
“It is rewarding to get this recognition in this prestigious competition with over 1,100 global applicants. said Joe Muldoon, chief executive officer of FAST BioMedical. “The top 50 are from all over the world and we have started to interact with this impressive group.”
MedTech says it received more than 1,100 applications from 54 countries from startups hoping to be selected to the program. The list was pared to 195 candidates. The top 50, including FAST BioMedical were selected.
As a member of the MedTech cohort, FAST BioMedical will participate in a four-month long program. It will have access to manufacturers, investors and industry stakeholders.
“Our goal at MedTech Innovator is to find the most promising medical innovations and make sure they actually reach the patients who need them,” said Paul Grand, CEO of MedTech Innovator. “We are thrilled with the caliber of the startups participating in this year’s cohort and we look forward to providing them with the resources and mentorship they need to succeed.”
MedTech Innovator will award up to $500,000 in cash and in-kind prizes during its final competition at The MedTech Conference in September.