ZeroTo510, a Memphis, Tenn.-based accelerator program designed to support entrepreneurs in bringing medical device products and companies to market, has launched.
Applications are being accepted now through April 5, 2012.
Launched by Memphis Bioworks Foundation as an initiative of the Greater Memphis Accelerator Consortium, ZeroTo510 focuses on leveraging the regional strength of the Memphis area in medical device research and manufacturing to help entrepreneurs go through the start-up process, refine their business models and achieve the Food and Drug Administration’s 510(k) pre-market notification filing.
Six companies will be selected to participate in an intensive, mentor-driven, 12-week program of instruction and hands-on activities, which will begin on May 12. Each company will receive $50,000 in seed capital from co-investors Innova, a pre-seed, seed and early-stage investor focused on healthcare, technology and healthcare technology fields across the state of Tennessee, and MB Venture Partners, a Memphis-based venture capital firm dedicated to life sciences start-ups.
At the end of the program, the participants will pitch to a group of investors. They will select up to three finalists, who will receive as much as $100k in additional funding and the opportunity to further develop their business and then present at the 10th Musculoskeletal New Ventures Conference in Memphis this October.
Competition for participation in the program is open internationally but selected companies must be Memphis-based or willing to relocate to Memphis.