Early-stage medtech start-ups are headed to the stage at the MedTech Color 2022 Pitch Competition on March 8. The MedTech Color Pitch Competition provides a foundational start for medical technology early-stage startups developing innovative technologies. Among other prizes, including capital and workshops / masterclasses from top industry leaders, the top 10 finalists are also considered for the California Life Sciences FAST Advisory Program.
The collaboration between MedTech Color and California Life Sciences led to the creation of the FAST MedTech Color track, a program part of the CLS Racial and Social Equity Initiative designed to provide intensive team review and coaching to select early-stage startups and academic researchers. This initiative strives to increase access for Black, Indigenous, and other people of color (BIPOC) populations in California. Dr. Jose Morales, founder of JUAD NextGen and 2021 MedTech Color Pitch Competition finalist, was selected for the 2021 CLS FAST program due to his strategic business plan and impactful story, allowing him to further develop his business model over the course of several weeks.
JUAD NextGen is pioneering the next generation of neuroendovascular theranostic devices for neurological disorders and diseases. Their device addresses clinical unmet needs where the harm-to-benefit ratio of invasive diagnostics and therapeutics impacts the threshold to clinically indicated and timely treatment, resulting in delays to definitive therapy and adversely impacting long-term outcomes.
Kwame Ulmer, founder of MedTech Color said “JUAD NextGen is an innovative company with the potential to transform the neurological diagnostics industry and we look forward to seeing this program advance JUAD NextGen’s path to commercialization, enabling them to improve the lives of those living with neurological conditions.”
Pitch Competition sponsor CLS supported JUAD NextGen’s growth by providing intensive team review and coaching from industry veterans to perfect their business model, product development plans, and to build a compelling commercialization strategy.
“Over the course of the FAST Advisory Program, JUAD NextGen spent the fall quarter working with our custom-selected team of eight dedicated company advisors, plus introductions to additional supporters in the life sciences ecosystem,” said Dr. Julie Harness, Senior Director of Innovation Services at California Life Sciences.” JUAD NextGen worked on many topics germane to early building and ultimate success of a life sciences company, such as commercialization planning, IP strategy, funding, market positioning and business plan, teambuilding and partnership strategy. It is our hope that the relationships forged in the context of the program continue to be a valuable source of aid and advising in Dr. Morales’ future leading his team at JUAD NextGen.”
Through the FAST Program, Dr. Morales also received 12-weeks of customized coaching and intensive team review to perfect his business model and create a compelling commercialization strategy. This December, he presented his startup to a distinguished audience of potential investors and collaboration partners at the FAST Closing Showcase.
“The FAST program was instrumental in refining our business plan and providing numerous leads and points of contacts that greatly expanded our network and continued our momentum forward,” said Dr. Morales, “Our FAST advisor’s frequent feedback helped me develop a comfort level with my investor pitches.”
After the FAST program, JUAD NextGen anticipates several milestones on the horizon such as live animal studies, prototype development, meetings with strategic and institutional investors like the Biocom Investor Roadshow, and Diverse BoD building with Slone Partners.
To view this year’s 2022 MedTech Color Pitch Competition, register here to attend the event virtually or in-person.
MedTech Color is dedicated to increasing and promoting diversity and inclusion across the medtech ecosystem. Native American, Asian, Hispanic and Black professionals and students are encouraged to participate. Through community building, thought leadership, and driving clinical trial enrollment of patients from under-represented groups, MedTech Color is working to increase the number of people of color who enter the medtech community and add tangible value to the medtech network. MedTech Color operates as a 501(c)(3) nonprofit organization, incorporated in California.
California Life Sciences (CLS) is the state’s most influential and impactful life sciences membership organization, advocating for the sector and its diverse innovation pipeline. For more than 30 years, CLS has served the community by supporting companies of all sizes, from early-stage innovators and startups to established industry leaders in the fields of biotechnology, pharmaceuticals, and medical technology. As integral components of a healthy and collaborative ecosystem, CLS also works closely with universities, academic and research institutions, the investment community, and other critical partners that promote this vibrant sector. With offices in South San Francisco, San Diego, Sacramento, Los Angeles, and Washington DC, CLS works to shape public policy, improve access to breakthrough technologies, educate lawmakers, and advance equity within our ecosystem by championing innovative solutions for some of the most pressing challenges of our times. In doing so, CLS fulfills its mission to protect and nurture California’s life sciences industry, empowering discoveries that lead to healthier lives around the world.