Virtual program assists 19 companies both in the U.S. and other countries
Accelerators continue to be an important vehicle for startups to move their business models forward, as they are readily given resources that are often difficult and time consuming to obtain. BioTools Innovator established to provide life science companies with related tools and diagnostics, announced its 2023 cohort for its annual program.
The 19 life science startups and early-stage companies accepted into the program have the potential to advance research and improve human health. They are entering a four-month virtual program that includes mentorship and support from senior industry leaders, access to funding and connection to a network of peers and advisors.
Selection into accelerator program is a very competitive process. Some accelerators receive thousands of applications from which a small number are chosen. Applicants for BioToolsInnovator specialized program were approximately 260 drawn from around the world and 34 of U.S. states. They were reviewed by the Accelerator’s oversight team, as well as leadership teams of its corporate partners at Research Corporation Technologies, BroadOak Capital Partners, Nissan Chemical America Corporation, and over 80 industry judges from leading life science firms.
Kathryn Zavala, managing director of BioTools Innovator, touts the early success of the accelerator program, stating, “Now in our third year, we’ve built a reputation for identifying and nurturing the most promising life science tools and diagnostics companies, with the goal of improving how therapeutics are developed and making diagnostics faster and more accurate.”
A sampling of the 19 companies participating in the BioTools Accelerator includes California-based Argome, a smart nanoparticle platform for a unified next-gen multiomic workflow, Israel-based BioRaptor, an operating system for biotechnology companies, an end-to-end AI-powered data platform accelerating time to market. The latter is one of four internationally based companies in the virtually run program.
Five companies will be chosen for a final competition at the BioTools Innovator Capstone Event that will be held in the fall of 2023. It follows the Cell & Gene Meeting on the Mesa in Carlsbad, Calif. Senior executives, investors, and top industry decision-makers will select the winner of the $250,000 non-dilutive grand prize and the title of 2023 BioTools Innovator.
To execute the virtual program for the 2023 Life Science companies cohort, BioTools Innovator partners with MedTech Innovator, the world’s largest accelerator of medical technology companies, serving as the premier nonprofit startup accelerator in the medical technology industry. MedTech Innovator’s success is reflected in its 509 alumni that have achieved $6.8 billion in follow-on funding, have brought 140 products to market, and achieved 36 exits.
