MedTech Innovator has announced Forest Devices as the winner of its 2019 Global Competition. The winning company was determined by a live audience vote on 24 September at The MedTech Conference (23–25 September, Boston, USA), which is supported by AdvaMed. Forest Devices is developing a portable device that uses EEG monitoring and machine learning to diagnose large vessel occlusions and other stroke subtypes, enabling first responders to triage patients to proper stroke centres.
Selected by an audience vote from a pool of nearly 800 early-stage medtech companies, Forest Devices was awarded the $350,000 grand prize to advance its business goals and mission to improve future health outcomes. Additionally, the company has also been awarded an AdvaMed membership and will be profiled in the MedTech Strategist. Flosonics Medical, Koya, OncoRes, and Venari Medical were runners-up and received a prize of $25,000 as finalists in the MedTech Innovator Accelerator programme.
Forest Devices participated in the MedTech Innovator 2019 Accelerator programme, which provides emerging-growth companies with in-depth, customised mentorship from key leaders in the medtech industry, exclusive networking opportunities, virtual and in-person workshops, and pitching sessions with investors, manufacturers, providers, and customers.
Matt Kesinger, CEO of Forest Devices, comments: “It is an incredible honour to be recognised by the medtech community, especially given the other fantastic finalists in the competition. The funding will support us in bringing our game-changing technology to market. The MedTech Innovator programme has been fantastic and provided us with invaluable mentorship and support.”
Currently in its seventh year, the MedTech Innovator competition awarded over $500K in cash prizes and in-kind awards. According to a press release, participating companies gained increasing amounts of exposure to industry leaders through online application reviews, in-person pitch sessions, and audience competitions at two conferences.
Paul Grand, CEO of MedTech Innovator, says: “MedTech Innovator aims to support and advance innovative entrepreneurs who are developing cutting-edge medical technologies to address unmet needs in healthcare and improve the lives of patients. We are pleased to see Forest Devices recognised as the 2019 winner for its important work and we look forward to their continued success in advancing healthcare for stroke patients.”
Furthermore, during the plenary session, MedTech Innovator also announced winners of the incubator space awards. Avisi Technologies and Respirix each received the JLABS Award, valued at $25,000. Patch’d received the Gore Innovation Center Award, which provides usage of the Gore Innovation Center Space and Lab for three months.