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Alpha ideas

TMC Innovation Institute introduces new early stage programming opportunities for health care workers

TMCx is introducing a new opportunity for early stage health tech ideas. Courtesy of TMCx

While the Texas Medical Center's accelerator, TMCx, accepts two cohorts of health care startups a year at various stages of development, the program isn't optimized for early stage ideas for companies.

Yet for years, the TMC Innovation Institute team has fielded questions from budding entrepreneurs over cold emails — and even LinkedIn.

TMC will launch a new program for these early stage ideas called TMCalpha. Lance Black, associate director of TMCx, announced the program at TMCx's Demo Day on Thursday, June 6.

"Alpha is the first letter in the Greek alphabet. It represents the beginning — the first step in your journey," Black says.

Through monthly events, TMC-affiliated entrepreneurs can meet with the TMCx team, learn startup best practices, pitch to professionals, and receive one-on-one advice.

"It's our mission to support those members in the TMC — those employees, those physicians, those affiliates — that are knee-deep in the problems and have ideas for solutions," he adds.

The details of the program have yet to be revealed, and Black suggested interested parties subscribe to their newsletter.

"Too many good ideas go undeveloped because people don't have a place to turn or know who to talk to," Black says. "Now they do."

Before and after the announcement, 19 different startups pitched to the crowd at the TMC Innovation Institute, representing the end of the accelerator program. The 2019 Digital Health cohort represented the eighth — and most international — cohort within the program.

Three companies within the cohort have announced completed raises totaling over $10 million. However, according to the pitches, that figure is likely even higher.

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Building Houston

 
 

Seven startups walked away with cash prizes from this year's MassChallenge accelerator program in Houston. Photo via Getty Images

MassChallenge named its winners of its 2020 accelerator at a virtual event on October 22. The program awarded a total of $200,000 in equity-free prizes across seven startups from its second Houston cohort.

This year's program took place completely virtually due to the pandemic. Already, the 56 startups involved in the cohort have raised $44.4 million funding, generated $24 million in revenue, and created 297 jobs, says Jon Nordby, managing director of MassChallenge Texas in Houston, in a news release.

"This has been a year full of change, to say the least," he says. "But startups thrive in uncertain times — because they can move fast and remain agile, they are able quickly meet each new need that arises. I'm extremely proud of the startups in our 2020 cohort — during the course of the program, they've pivoted, adjusted, and evolved in order to grow their businesses."

The startups that won across the Houston cohort included Houston-based PATH EX Inc., which won the $100,000 Diamond Award, is focused on the rapid diagnosis and treatment of sepsis through an unique pathogen extraction platform.

Four companies won $25,000 Gold Awards:

  • Healium, based in Columbia, Missouri, is an extended reality device created for self-management of anxiety.
  • Ozark Integrated Circuits Inc., based in Fayetteville, Arkansas, specializes in problem solving using technology and software in the harshest environments – from jet engines to earth orbit.
  • PREEMIEr Diagnostics, based in Southfield, Michigan, created a way to identify which premature infants need an adjustment to their glucose levels to prevent them from losing vision.
  • Scout Inc., based in Alexandria, Virginia, is developing the first commercial in-space satellite inspection service.

Two companies won the Sidecar Awards, securing each a $25,000 Innospark Artificial Intelligence Prize.

  • Articulate Labs, based in Dallas, makes mobile, adaptive devices to help knee osteoarthritis and knee replacement patients rehabilitate on the go during everyday activity.
  • Houston-based Starling Medical has tapped into tech to optimize urinary catheter for patients with neurogenic bladder dysfunction.
The Houston Angel Network awarded Ozark Integrated Circuits their prize of $50,000.
"The progress these entrepreneurs made in just a few months has all of the hope, drama, anticipation, and optimism of seeing dawn break after a particularly difficult night," says Wogbe Ofori, Principal at 360Approach and a MassChallenge mentor, in the release. "It's fulfilling, actually, and makes me proud to be a MassChallenge mentor."
The seven startups were awarded alongside 27 other startups from this year's Austin, Boston, and Rhode Island accelerators at the virtual event. The event was hosted by Chris Denson of Innovation Crush, and featured a fireside chat between Arianna Huffington, founder and CEO of Thrive Global, and Linda Pizzuti Henry, managing director at the Boston Globe.
Earlier this fall, MassChallenge named its 10 startup finalists, whittled down from 56 from 13 countries and 13 states to its first-ever virtual accelerator, which began in June.

"In the face of great uncertainty, MassChallenge Texas in Houston charged forward and did exactly what they ask their startups to do: love the problem," says Houston Mayor Sylvester Turner in the release. "The successful pivot to virtual is a testament to the strength of their global community and the motivation of the Houston ecosystem to get behind new ideas and create businesses that will set roots and grow here.

"As one of the most innovative cities, Houston is a place where startups can thrive – even in the midst of a pandemic. Programs like MassChallenge provide the best practices and networks to ensure startups get the access they need to create sustainable businesses and lasting change."

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