MedTech Innovator announced today that its new BioTools Innovator accelerator program has launched.
BioTools Innovator is intended to advance life science tools innovation and improve human health by accelerating the growth of startups developing and commercializing a wide range of biotech products, platforms and services, according to a news release.
Across a three-month accelerator program, 10 promising early-stage companies from around the world will feature as they develop research tools and services for biotech, biomedicine, cell biology, molecular biology, genetics and biochemistry. The accelerator offers education, mentorship and funding opportunities through the established MedTech Innovator model.
Applications for the accelerator opened today and close on April 30. Reviewers will determine which 30 startups will be invited to pitch across virtual events in May and June before 10 companies will advance to participate in the virtual accelerator. The final competition will be held in mid-October with up to $200,000 in non-dilutive cash prizes and in-kind services will be awarded to four selected finalists.
Funding to make the BioTools Innovator launch happen was provided by the Frederick Gardner Cottrell Foundation of Research Corporation Technologies.
“The launch of BioTools Innovator is the next step in our journey towards transforming health care through accelerating critical new innovations,” MedTech Innovator & BioTools Innovator CEO Paul Grand said in the release. “Drawing on our success with the MedTech Innovator program, which is now in its ninth year, BioTools Innovator will reach an entirely different sector of early-stage companies developing life science and biology-driven tools and services that are poised to advance research and impact all areas of human health.
“We are thrilled to partner with two of the leading investment groups in the space, RCT and BroadOak Capital Partners, to identify and support entrepreneurs who are working to make a real impact on quality of life.”