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How U.S. tech companies can find their perfect match in Chile — for free

You won't want to miss this free virtual event. Photo by WestEnd61/Getty

Beginning October 19, American companies can explore opportunities with Chilean products and services, all without hopping on a plane or spending a dime.

Chile Connected, sponsored by ProChile, is a nearly month-long virtual event designed to serve as a "matchmaker" for technology firms as well as creative industries, healthy food providers, and women-led businesses.

If you're wondering "why Chile?" there are some very solid stats to make you look twice at the South American country. Chile is the 29th largest trading partner of the United States, while we are the No. 1 destination for non-copper goods and service exports from Chile.

Chile is also recognized as the most advanced IT market in Latin America, with a performance that's superior to Argentina, Brazil, Colombia, and Peru. The IT sector there represents 3.4 percent of its national GDP.

Chile has had a long and prosperous history of trade with the U.S., particularly in the 16 years since the implementation of the TLC agreement. This treaty has allowed trade to increase over 220 percent between both countries over this time period.

So now that Chile's got your attention, mark your calendar for October 27-29, when the tech and innovation panel will welcome high-level experts and keynote speakers from both markets in the areas of HealthTech, EdTech, FinTech, and RetailTech.

A study done by the Ministry of Sciences in March 2020 indicates that 13 percent of Chilean startup companies with a scientific and technological base are related to the area of health.

If you're specifically looking for companies that specialize in biotech or biomedicine, digital (AI, deep/machine learning, IOT, and big data) technologies, or a combination of these, this would be the event to find them.

Fifty-three percent of Chilean companies like these have stated they need a joint venture in order to explore other markets, and the recent success of companies like GenoSUR and Levita have proven the market is ready for partnerships (you'll hear from top-tier leaders at both during the panel).

Chilean RetailTech providers have demonstrated to be a generation of highly sophisticated and specialized tech service providers, while their FinTech specialists aim to satisfy the needs of this demanding segment within the U.S. market.

Register for your free spot here, and gear up to find your next great international tech match.

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Building Houston

 
 

BiVACOR has received fresh funding from its investors to further develop its artificial heart. Photo courtesy of BiVACOR

A Houston medical device company that is developing an artificial heart announced it has received investment funding to the tune of $18 million.

BiVACOR's investment round was led by Boston-based Cormorant Asset Management and Australia's OneVentures's Healthcare Fund III. According to the company, the funding will be deployed to continue research and development, hiring executives, and support the path to first in human trials.

“We are extremely grateful for the ongoing support from our core investors," says Thomas Vassiliades, who was named CEO of BiVACOR last year, in a news release. "This additional commitment further validates our technology and the need for improved options to treat end-stage biventricular heart failure.

“With this financing, we will be able to double the size of our organization and add key positions from the C-suite to research and development. We are well positioned to advance our preclinical activities and aim to conduct our First in Human early feasibility study planned for the end of the year,” he continues.

Billed as the first long-term treatment for patients with severe biventricular heart failure, the BiVACOR Total Artificial Heart is an implantable artificial heart that utilizes rotary blood pump technology. This technology includes magnetic levitation and is a "durable, reliable, and biocompatible heart replacement," per the company's release. It's about the size of a fist and can be used in a wide range of patients including some children and women and up to adult males.

“Under the leadership of its expert management team, the company has developed a credible strategy for growth as they march toward first in human studies,” says Jeannie Joughin, board chair and principal at One Ventures, in the release. “There is a huge gap in care for patients waiting for a heart transplant, and we are confident that BiVACOR will continue to execute its strategy to swiftly get the Total Artificial Heart into the patients who need it most.”

The company raised its $22 million series B round in early 2021, which was also led by Cormorant Asset Management and OneVentures. To date, BiVACOR has raised $60 million.

“BiVACOR continues to execute on its strategy, and there was no question that we would jump in to lead this funding,” says Bihua Chen, CEO and founder of Cormorant Asset Management. “We are impressed by BiVACOR’s world-class team and continued dedication to push the technology in the clinic. We’re excited to support their growth and vision to transform the treatment of biventricular heart failure with the world’s first fully MAGLEV total artificial heart.”

Founded in 2008, BiVACOR maintains offices in Cerritos, California, and Brisbane, Australia. The company is affiliated with Houston's Texas Heart Institute, where the world's first artificial heart was implanted. BiVACOR's headquarters is at the Texas Medical Center complex.

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