Little Sparrows, Cellanyx Diagnostics, and BioSignostix today were named the 2013 winners of the Second Annual M2D2 New Venture Competition awards program, which seeks out the most promising new medical device technologies in Massachusetts. The winners were announced at an awards ceremony at the headquarters of Nutter McClennen & Fish LLP in Boston’s Innovation District.
The entrepreneurs developing these new products received the highest scores from independent judges who heard their “pitches” at the M2D2 (Massachusetts Medical Device Development Center) Innovation Hub at UMass Lowell in March. At the awards ceremony held today, all 15 companies that reached the final round of the competition offered a poster session and they again pitched their product ideas.
The first-place-winning product idea addresses neonatal jaundice and will receive $10,000 in M2D2 development services and Nutter legal services. The award will help this start-up advance their product development and business concept toward commercialization. Also, Gweepi Medical, which addresses urinary incontinence management, won the People’s Choice Award and will receive $2,000 in M2D2 services and Nutter services.
"The M2D2 New Venture competition showcased 15 great new medical device ideas this year. They are all worthy of support. We especially congratulate the winners — Little Sparrows, Cellanyx, and BioSignostix -- and pledge to help them succeed," said Stephen McCarthy, co-director of M2D2 and UMass Lowell plastics engineering professor. "Working with these entrepreneurs helps M2D2 fulfill its mission: ensuring that Massachusetts is the best place in the world for medical device startups."
“The M2D2 new venture competition is becoming a signature event for medical device entrepreneurs,” said William C. Geary III, co-managing partner of Nutter, which was the title sponsor of the competition. “Our lawyers coach the entrants on their pitches and expose them to potential funding sources. It’s exciting to see the innovation taking place, and our participation is a way to contribute to a strong medical device industry with a competitive future.”
The annual M2D2 New Venture Competition is open to Massachusetts-based medical device technology startup businesses and inventors. This year, 15 finalists were chosen and presented their concepts to a panel of judges. The prize money includes services from the UMass schools, coordinated through M2D2, including prototyping from the UMass Lowell College of Engineering, business plan and market development from the UMass Lowell Manning School of Business, and services from the Medical School in Worcester. The competition is sponsored by Nutter, which is also a platinum sponsor of M2D2.
M2D2 (the Massachusetts Medical Device Development Center) is a lifeline for the state’s smaller medical device companies, offering inventors and executives easy, affordable, and coordinated access to world-class researchers and resources at the Lowell and Worcester campuses of the University of Massachusetts, including expertise in engineering and in conducting clinical trials.