ZeroTo510, a Memphis-based accelerator program designed to help start-ups bring medical device products and services to market, is now accepting applications until March 25, 2013.
An initiative of the Greater Memphis Regional Accelerator and operated by Memphis Bioworks Foundation, ZeroTo510 will focus on helping six medical device entrepreneurs navigate the start-up process, refine their business models and achieve the Food and Drug Administration’s 510(k) pre-market notification filing via an intensive, mentor-driven, 12-week program of instruction and hands-on activities.
Each company will receive $50k in initial seed capital from co-investors Innova, a pre-seed, seed and early-stage investor focused on starting and funding high-growth companies in the healthcare, technology and healthcare technology fields across the state of Tennessee, and MB Venture Partners, a Memphis-based venture capital firm, as well coaching, mentoring, networking and access to subject matter experts.
At the end of the program, participants will pitch to a group of investors. The investors will select finalists, who will receive as much as $100,000 in additional capital infusion and the opportunity to further develop their business.
Restore Medical Solutions, which was part of the inaugural 2012 program, completed the program with a full Series A of venture capital funding round (read here). Other four other companies finished the accelerator with additional funding in the amount of $100k each.
Competition for participation in the program is open internationally. However, companies selected must be based in Memphis for the duration of the program.
Information about the program is available at http://www.zeroto510.com.