The Massachusetts Medical Device Development Center seeks entrepreneurs to enter its M2D2 $200K Challenge. Entrepreneurs interested in applying to compete in the challenge may do so at www.m2d2challenge.com. The entry deadline is Monday, Feb. 15.
A joint venture of UMass Lowell and UMass Medical School, M2D2 celebrates 10 years of the pitch competition, which advances the innovative ideas of early-stage medical device, diagnostic and biotech companies. M2D2 assists entrepreneurs in those sectors with all aspects of moving new products and technologies from concept to commercialization to improve health outcomes. M2D2 offers the resources of these institutions to entrepreneurs seeking medical assistance with clinical trials and expertise with the engineering and business side of product development.
“One strength of M2D2 lies in the partnership between UMass Medical School and UMass Lowell. Co-location of labs in Worcester and Lowell and access to our world-class faculty and researchers provide a real benefit to startups that enter this competition,” said Nathaniel Hafer, PhD, assistant professor of molecular medicine, M2D2 co-director and director of operations for the Center for Clinical and Translational Science at UMass Medical School.
Fifteen contest finalists will present their inventions via teleconference before a panel of expert judges in the medical device, biotech and venture capital sectors on March 24. The winners, to be announced in April, will share in $200,000 of sponsor-provided in-kind assistance, including lab and office space; engineering; product development; and legal, regulatory, clinical and business services.
“We welcome innovations from early-stage life science startups that address the full range of health challenges. The competition is just one of the ways M2D2 demonstrates its commitment to entrepreneurs and to the business and industry partnerships we’ve developed to support cutting-edge devices and technologies,” said Steven Tello, EdD, associate professor of management & entrepreneurship and associate vice chancellor for entrepreneurship and economic development at UMass Lowell.
M2D2 operates lab-based incubators in Lowell and Worcester and offers networking opportunities and other programs for startups. Since the center was founded in 2007, M2D2 has vetted more than 250 medical-device and biotech ventures for inclusion in its programs and provided support to more than 100 startups. In total, M2D2 resident companies have secured more than $150 million in external funding for their innovations.
Challenge sponsors include Amgen; Argenta Advisors, LLC; Asahi-Intecc USA Medical; Boston Scientific; Deshpande Foundation; Hologic; Johnson & Johnson Innovation; Kohler; MPR Associates Inc.; Massachusetts Life Sciences Center; Massachusetts Medical Device Industry Council; Mintz; RQMIS; and Sarepta Therapeutics.
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