Three Houston-based medtech startups are getting a big boost from a medtech accelerator.
The startups — Ad Vital, Corveus Medical, and CorInnova — have been chosen from this year’s cohort for MedTech Innovator, an international accelerator that helps companies that created health care technology. In all, 55 startups are involved in this year’s four-month accelerator program.
Ad Vital and Corveus Medical also are participating in MedTech Innovator’s corporate mentorship program, while CorInnova is one of five startups picked for the pediatric accelerator track.
MedTech Innovator’s 10th annual program kicked off in mid-June at the MedTech Innovator Summit in Mountain View, California. Leaders from each of the 50 startups attended networking events and workshops with MedTech Innovator partners and other industry professionals. Members of this year’s cohort also were featured June 17 at the WSGR Medical Device Conference in San Francisco.
Only 5 percent of applicants were accepted for this year’s accelerator program. Earlier this year, MedTech Innovator held in-person pitch events in five cities, including Houston.
At the conclusion of the 2022 program, MedTech Innovator will award $500,000 in cash and in-kind prizes at this October’s MedTech Conference in Boston. The grand prize is $350,000.
“Over the past nine years, MedTech Innovator has established a unique track record of identifying and supporting leading startups, with 95 percent of our graduates either still in business or having been acquired,” Paul Grand, CEO of MedTech Innovator, says in a news release.
Here’s an overview of what Ad Vital, Corveus Medical, and CorInnova do:
- Ad Vital’s app helps medical practices through sales, marketing, and operations. For instance, the app automatically organizes sales campaigns aimed at converting customer leads via text messages, emails, and Facebook messages.
- Corveus Medical’s catheter device is designed to prevent heart failure. More than 6 million American adults experience heart failure. The company is also among five selected to pitch in October for a competition from the National Capital Consortium for Pediatric Device Innovation.
- CorInnova’s minimally invasive device is engineered to treat congestive heart failure, particularly infants. Each year, about 10,000 babies born in the U.S. have critical heart defects that often require surgery or other procedures.