The Massachusetts Medical Device Development Center (M2D2), a joint initiative between University of Massachusetts Lowell and University of Massachusetts Medical School in Worchester, MA, has announced a competition targeted at Massachusetts-based medical device startups. The 2nd annual Venture Competition will award $20'000 worth of product development services to a device maker, including engineering services (such as prototyping), business services, and legal services.
All new medical-device ventures and entrepreneurs are encouraged to apply. In a press statement, UMass Lowell cites last year’s winner, MedicaMetrix Inc., which used the award to further the development of its ProstaGlove prostate-measuring system. The startup has since raised $4.5 million to $3.5 million in private equity and $1 million from the Massachusetts Life Sciences Center Accelerator Loan fund.
M2D2 provides fee-based services in the areas of business planning, product prototype development and clinical pathway assistance to medical device companies, in addition to offering incubator space.
The deadline for entry is Friday, Feb. 1, judging will take place through March, and a winners' ceremony will be held in Boston in April. Visit the UML Web site for more information.
-Chris Wiltz is the Associate Editor of MD+DI