The 2017 HealthTECH recap is up! Learn more about the event’s purpose, changes we’ve seen in the ecosystem, and who took home the top prize!
Insight Product Development and MATTER hosted the 4th annual HealthTECH Startup Competition last week. This very well attended event brought together some of the top representatives of the booming Midwestern startup ecosystem, including investors, academia, government, and Fortune 500 medical companies. The event showcased ten top healthcare startup companies from the Midwest and beyond who were […]
One of the challenges in biomedical engineering careers is developing an understanding of current and anticipated unmet clinical needs, and how to address those needs with existing and new technologies.
On October 7th, 2016, at the BMES (Biomedical Engineering Society) Annual Meeting in Minneapolis, Insight Product Development and Northwestern’s Pritzker School of Law sponsored a session titled “Clinical Session with Physicians”. During that session, engineering students and professionals gathered to learn how a group of world-class doctor innovators are facing this challenge.
Jonathan Gunn (co-founder of Briteseed) and Omid Veiseh (founding scientist of sigilon) kicked the session off, to a standing room only crowd, with an introduction of the panel members. Leslie Oster, the Director of Northwestern’s Master of Science in Law program, also spoke briefly how Northwestern’ MSL program prepares STEM professionals for today’s fast-paced economy.
Farzad Azimpour, M.D., discussed how he, as a physician, approaches design thinking and innovation within the medical device space.
Danny Sachs, M.D., discussed his experience in coming up with ideas, testing them, and then bringing them to the market. His advice?
“Not every idea will be a winner, be prepared for that and get back up and try again if you fail; but fail as early as possible. Also, get creative and immerse yourself as an Innovation Fellow.”
Dr. Kendall Lee had everyone on the edge of their seats explaining the process of how he’s developed new and innovative deep brain stimulation techniques to help Parkinson’s and Paralysis patients.
The session capped off with questions from the audience. Students were very curious to know how the physician panel members chose the direction of their careers and how they “knew” it was the right path for them . Answers ranged from “I wasn’t smart enough to be a neurologist so I decided to become a brain surgeon” (Lee) to “You never know if you’re on the right path, you just pick a direction and do your best with the choice you’ve made. “ (Spector)
Jonathan Gunn said that “The event turnout was above and beyond expectations, and I’m looking forward to hopefully being involved in BMES’ Annual Meeting next year as well.”
Learn more about the session’s world-class innovators below.
Danny Sachs, MD
Entrepreneur/University of Minnesota
Danny works with engineers to start medical device companies. He founded or co-founded Mainstay Medical (IPO in 2014), CoTherix (acquired), Respicardia, Amphora, and several other venture-backed companies. He serves part-time as Associate Director of the Innovation Fellows Program at the U of Minnesota.
Kendall Lee, MD, PhD
The research interests of Kendall are to develop deep brain stimulation (DBS) for the treatment of Parkinson’s disease, tremor, depression, obsessive-compulsive disorder and epilepsy. Dr. Lee is fascinated with the possibility of combining sophisticated electrophysiological recordings with miniaturized analytical elements (microprocessors) to augment or repair disrupted function of the brain.
Farzad Azimpour, MD
Farzad is a Biodesigner and Cardiologist in the Design for Health group at IDEO Palo Alto. He serves as an advisor and liaison to the Stanford Biodesign Fellowship Program and practices medicine through the United States Veterans Health Administration.
Jason A. Spector, M.D., FACS
NewYork-Presbyterian/Weill Medical Medical Center
Dr. Jason Spector’s primary clinical interests include reconstructive microsurgery of the head & neck, breast and lower extremities as well as cosmetic surgery. He is a nationally-renowned board-certified plastic surgeon, and an Associate Professor of Surgery at NewYork-Presbyterian/Weill Medical Medical Center.
From a field of submissions representing some of the most innovative new technologies in med-tech today, Innoblative takes home top honors in the competition held by MedTech Boston.
“We see exceptional talent and capability at Innoblative, capable of taking this ground-breaking technology to market” says Steve McPhilliamy, Insight Accelerator Labs’s executive director and a partner at Insight Product Development. “Insight has over 25yrs of experience in medical device design innovation and applies this experience to help rapidly turn complex technologies from a startup’s ideas into commercial solutions and Innoblative is one of the best examples of how well this model is working. Congratulations to the Innoblative team, we are looking forward to seeing your continued success.”
Visit our Insight Accelerator Labs members page to learn more about Innoblative and their technology.
Insight Accelerator Labs selected as only Med Tech focused accelerator to be included as IGIF partner
Med Device Online features Steve McPhilliamy’s latest perspectives on Innovation in his “Emerging Technologies” monthly feature
The idea that innovation is the key to growth and future success is a common theme in virtually every industry. As entrepreneur and Amazon.com founder Jeff Bezos said, “If you double the number of experiments you do per year, you’re going to double your inventiveness.” The concept of searching for opportunities and investing in innovation is at the core of every strong, growing company.
What has evolved over the past ten plus years is the way these organizations are driving innovation.
Check out the full article to learn how: http://www.meddeviceonline.com/doc/the-optimized-path-to-innovation-0001
On December 2nd, 2015, Steve McPhilliamy will join a group of industry experts and investors to judge health care technology startup live pitches. The competition offers startups the opportunity to present their one-minute elevator pitch, gain invaluable feedback on their pitch, gain publicity, and a chance to secure investment.
As Executive Director of Insight’s own startup accelerator lab, Steve is excited to be part of the event.
Insight Accelerator Labs is at the center of Medical Device Innovation, and we are excited to be collaborating with these startups in identifying and solving some of the big healthcare problems facing us today.It is inspiring to be part of the growing healthcare ecosystem.
If you’re a startup and are interested in participating, apply here. The application deadline is November 20th, 2015.
Visit the BIOMEDevice San Jose site to learn more about the conference.
Visit Insight’s leadership page to learn more about Steve McPhilliamy.
On Oct 22nd, 2015, Insight Product Development celebrated it’s 3rd annual HealthTECH Startup Competition, a two-part event, co-hosted with MATTER, focused on Medical Device and Digital Health startup growth in the midwest.
The event was a great success! Nearly 200 key industry and community stakeholders came together to support the event, which aims to
- Improve lives by bringing innovative health solutions to patients
- Encourage entrepreneurship in the healthcare industry
- Grow the medical innovation ecosystem in the Midwest
- Connect corporations with early stage companies
From a pool of over 65 applicants, ten startup finalists were selected to live pitch their technologies to a panel consisting of venture capitalists and investors, hubs, med device companies, and academic leads cross the Midwest to compete for over $35, 000 in cash and professional services.
The awards went to
Admetsys – Novel artificial pancreas for hospital that improves health outcomes and health economics through high-tech automation of sensing, modeling and treatment.
Resonance Medical – Resonance Medical has developed a disruptive, software-based approach to sending electrical signals into the brain through cochlear implants and other neuromodulation devices.
Janus Choice – A mobile-based solution that facilitates the hospital discharge process by helping patients make educated and informed decisions on where to continue their care and recovery.
We would like to thank our judging panel.
Marta New (Principal, Baxalta Ventures)
Barbara Goodman (Senior VP, PROPEL, iBIO Institue)
Chris Evans (West Pharmaceutical VP, Research & Innovation)
James Kelly, MD,MBA,FACS (President, Cascade Partners)
Jeff Carter (Manager, West Loop Venture)
Nirav Shah, MD (Director of Illinois Public Health)
Meg Barron (Director, New Product Development & Portfolio Management at American Medical Association)
And a special thanks to our partners for their generous support.
Visit our Facebook page to view photos form the event.
We’re looking forward to seeing everyone at next year’s event! We’ll be sending out information in the spring regarding Phase One of the 2016 HealthTech Startup Competition.
Growing Financial Award, Building Ecosystem Support and MATTER Co-Host Commitment Mark Expansion
On the heels of highly successful events in 2013 and 2014, Insight Product Development has effectively doubled the size of its annual health tech innovation program. Now featuring a two-phase health tech competition for early stage Midwest medical device and digital health startups to compete for cash and prizes to advance their technologies toward commercialization, the newly expanded program will be co-hosted by MATTER at WellTech in June 2015, and the Chicago HealthTECH Summit in October 2015. The competition is also on track to double the size of its startup award to $35,000 thanks to growing interest by members of the Midwest business and investment community.