Boston Scientific (NYSE:BSX) is joining the Mayo Clinic and the University of Minnesota in backing startup accelerator Gener8tor as it launches a medtech focused incubator in Minneapolis, according to a new report from the Minneapolis Star Tribune.
The newly launched accelerator will operate under a seven-week program that will support six new startups with a focus on medical technology, requiring no fees or equity and offered three times a year, according to the report.
Initial entrants into the incubator include wearable-focused medical tape maker ExpressionMed, cardiac rhythm and neuromod dev Kobara Medical, interventional assist device dev NeuroVASx, lung disease symptom control dev Quench Medical, snoring-reduction gamified app dev Soundly and diagnostic dev Vitrose Health, according to the Star Tribune.
Companies will be paired with entrepreneurs, investors, venture capitalists and experts to develop their technology and companies. The newly launched incubator builds on a partnership established between Gener8tor and the University of Minnesota in 2016, according to the report.
“The next big ideas in healthcare won’t happen in a vacuum—meaningful innovation is the result of thoughtful collaboration. We look forward to working with these ‘scaling’ companies in Minnesota to identify new opportunities to transform patient care,” Boston Scientific corporate research VP David Knapp said in a prepared statement.
Last week, Boston Scientific said it laid out a $406 million deal for NxThera and its Rezūm benign prostatic hyperplasia device, which uses steam to ablate excess prostate tissue.
