FOR IMMEDIATE RELEASE
Haylee Gemeiner, mHUB
Rachel Hollander, NorthShore – Edward-Elmhurst Health
mHUB MedTech Accelerator to Highlight Startups’ Medical Device Technology at Demo Day and Product Showcase
NorthShore – Edward-Elmhurst Health as lead partner is proud to support startups that help drive innovation, transformation and improved outcomes in healthcare
(CHICAGO September 5, 2023) – Ten startups in the 2023 mHUB MedTech Accelerator Cohort will get a chance to pitch their innovative medical device technologies to investors and community members at a Demo Day and Product Showcase on Sept. 13-14. The event will be mHUB’s last major event at its current location before moving into its new facility on Chicago’s Near West Side.
mHUB's MedTech Accelerator, one of the nation’s leading independent hardtech and manufacturing innovation centers, provides startups with access to capital through the mHUB $15M Product Impact Fund I and investment funds from the program’s lead partner. Startups are also given access to $6M worth of prototyping equipment and business resources, matched with seasoned mentors and introduced to a broad manufacturing ecosystem.
“The mHUB accelerator program works with our industry partners, not only during the selection process, but throughout the program to ensure our teams’ solutions address the true needs of their customers,” said Bill Fienup, Co-founder of mHUB and Executive Director of the MedTech Cohort.
After a rigorous selection process, the ten startups with the goal of commercializing disruptive medical device solutions were welcomed into the 2023 MedTech Accelerator Cohort for six months of intensive programming. The startups were selected based on their ability to address large, unmet needs with innovative solutions that will transform patient care.
At the program’s midpoint, startups pitched to NorthShore – Edward-Elmhurst Health (NS-EEH), a nine-hospital health system in the Chicago area, to demonstrate their progress in customer validation, market testing and product feasibility.
Following the pitches, NS-EEH invested in Kwema, a startup based in St. Louis, Missouri, that is creating a smart badge for nurses to unobtrusively call for help when facing patient violence, and in Wave Therapeutics, a startup based in Nashville, Indiana, that is developing therapeutic technology to prevent pressure injuries.
“NorthShore – Edward-Elmhurst Health is committed to partnerships that support entrepreneurship and lead to creative solutions for the challenges we face,” said Bradley Bennett, System Senior Director Venture Partnerships & Funding, NS-EEH. “We are proud to team up with Kwema, Wave Therapeutics and mHUB, and support their commitment to developing medical devices and technologies for the benefit of our patients and communities.”
“We are excited to partner with NS-EEH and identify solutions that could help address safety in the workplace, an important issue faced by healthcare organizations,” says Ali Al Jabry, Founder and CEO of Kwema. “This gives us the opportunity to improve our product and make the workplace safer for nurses.”
“This investment will speed up our development, allow us to produce units for a pilot study and reduce the occurrence of pressure injuries for countless patients.” says Jessica Bussert, Founder and CEO of Wave Therapeutics. “We are honored to receive this support from NS-EEH.”
mHUB launches sector-specific accelerators approximately every six months. The application process for the next cohort will open later in 2023. For more information, visit mhubchicago.com/accelerator.
mHUB is a leading independent hardtech and manufacturing innovation center that exists to convene the entrepreneurial ecosystem around physical product innovation to ensure that the manufacturing industry continues to accelerate, grow and thrive. The mHUB community includes more than 428 active and alumni startups and small businesses supported by a deep talent pool of product designers and developers, entrepreneurs, engineers and manufacturers, corporate leaders, industry experts, mentors and investors. mHUB provides a hyper-resourced environment to entrepreneurs with the goal of commercializing new hardtech innovation that will lead to new businesses, intellectual property, investment, revenue and job creation. Since launching in 2017, the mHUB community has generated more than $1.1B in revenue, launched more than 1,500 products, hired more than 5,100 employees, and raised over $1.5B in capital.
About NorthShore – Edward-Elmhurst Health
NorthShore – Edward-Elmhurst Health is a fully integrated healthcare delivery system committed to providing access to quality, vibrant, community-connected care, serving an area of more than 4.2 million residents across six northeast Illinois counties. Our more than 27,000 team members and more than 7,000 physicians aim to deliver transformative patient experiences and expert care close to home across more than 300 ambulatory locations and eight acute care hospitals – Edward (Naperville), Elmhurst, Evanston, Glenbrook (Glenview), Highland Park, Northwest Community (Arlington Heights), Skokie and Swedish (Chicago) – all recognized as Magnet hospitals for nursing excellence. Located in Naperville, Linden Oaks Behavioral Health, provides for the mental health needs of area residents. For more information, visit NorthShore.org, SwedishCovenant.org, NCH.org and EEHealth.org.