A Global Innovation Superhighway, TMCi & Innovate UK Select Sixteen UK-Based Startups
A Global Innovation Superhighway, TMCi & Innovate UK Select Sixteen UK-Based Startups
Innovation-led companies to immerse in a 6-month program to explore US market opportunities
(Houston, TX and London, England) Texas Medical Center, in partnership with Innovate UK, announced that sixteen digital health and medical device startups have been selected for a customized TMC Innovation (TMCi) accelerator program as part of the Innovate UK Global Incubator Programme to support UK businesses to build their US strategy and go-to-market plan.
“The TMC UK BioBridge program was launched with the UK Department for Business and Trade in 2018 to serve as a gateway for advancing life sciences and foster innovation and research between our two countries. We saw an opportunity to work with Innovate UK to develop a larger program with the UK after the success of the 11 companies that previously participated in our health tech accelerator,” said Ashley McPhail, Chief External Affairs & Administration Officer, for TMC.
As the innovation hub for TMC, TMC Innovation Factory offers a strategic entry point with training, access, and support for these small and medium-sized enterprises seeking to learn, expand and commercialize in the US market. Program participants will leverage this office/home base for 6 months of program participation and learning from the TMC community.
From June to November 2023, accelerator participants access resources, curated network connectivity, and mentorship to learn from experts in the TMC’s medical campus and networks to refine their US go-to-market strategy. Founders will be immersed in an intensive program to learn about the potential challenges companies face when entering global business markets and connecting with experts who can help them strategically navigate these hurdles.
“TMCi nurtures long-term growth, development, and competitiveness to increase startups chances of success and global expansion. By bringing their novel technologies and exposing them to a curated selection of TMC’s expert network, startups receive support and evaluation to build, scale, and expand in the US market,” said Emily Reiser, Associate Director of TMC Innovation.
This selected cohort of participants will travel to Houston on June 5 for an inaugural session to undertake preliminary customer validation, followed by three to six months in the incubator where founders will be able to experience a tailored program working with a TMC specialist to refine their strategic development plan and maximize their incubation experience. Areas of focus include cardiovascular and oncology, particular areas of strength for TMC. Approaches range from surgical devices to AI-enabled risk stratification and hospital efficiency.
“We believe startups need to have first-hand experience and explore the potential of overseeing markets before they can grow. Our Global Incubator Programme supports founders as they spend time in world-leading incubators outside the UK. Being the largest medical complex in the world and a leader in advance of life science, TMC is an ideal destination for international companies looking to grow in the US. At the same time, Innovate UK provides a unique US market entry opportunity,” said Jon Hazell, Partnership Manager – North America and Global Incubator at Innovate UK.
His Majesty’s Consul General in Texas Richard Hyde said, “The United Kingdom is fully committed to improving global healthcare through scientific collaboration. Through the expansion of the TMC UK BioBridge and in partnership with Innovate UK, this programme will help to expose the brightest and best British companies to the world’s largest medical city. Our companies will collaborate and grow as they work to develop cutting edge technology. The partnership between the UK Government and TMC demonstrates that international collaboration can drive both economic growth and improvement to quality of life.”
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About Texas Medical Center (TMC): TMC, the world’s most comprehensive life science ecosystem, is at the forefront of advancing life sciences. TMC is on a mission to further accelerate the pace of healing by harnessing our collective expertise in innovation, research, development, production, and patient care within a single, centralized medical ecosystem. With over 70+ million square feet and 120,000+ employees, TMC is leveraging the collective power by pioneering a revolutionary life sciences initiative to house the entire treatment of life cycle from discovery to delivery, within a single, world-class medical complex, on a scale never before seen.
About Texas Medical Center Innovation (TMCi): Texas Medical Center Innovation forms, fosters, recruits, and funds healthcare companies worldwide that are writing the future of healthcare. TMCi performs diligence on the companies seeking to progress toward clinical and business milestones in collaboration with Texas Medical Center member institutions and our global network of advisors and embedded corporate partners. We align these resources through our globally recognized programs: Biodesign, Accelerator for Cancer Therapeutics, and Health Tech.
About Innovate UK: Innovate UK is UK’s national innovation agency. We support business-led innovation in all sectors, technologies and UK regions. We help businesses grow through the development and commercialization of new products, processes, and services, supported by an outstanding innovation ecosystem that is agile, inclusive, and easy to navigate. For further information, visit: www.gov.uk/government/organisations/innovate-uk