Accelerators / Biotechnology / Investing / Life sciences / Startups

University City Science Center picked these 10 medtech startups for its second Capital Readiness Program cohort

Founders from Philly, Pittsburgh, Delaware and Texas will spend this week learning how to approach fundraising.

A University City Science Center lab. (Courtesy photo)

Ten medtech startups are getting a crash course in raising capital this week at University City Science Center, thanks to its Capital Readiness Program.

It’s the second cohort hosted by the Philadelphia-based STEM advancement organization. After receiving 46 applications from three countries, the Science Center narrowed it down to two Philly startups, two Pittsburgh startups, one Delaware startup and five Texas startups.

This program is designed to prepare medtech founders who want to raise their first institutional round of financing — specifically $1 million to $5 million — in six to 12 months.

For this program, the Science Center was particularly interested in boosting companies that were either local to the Philadelphia region or interested in creating a local presence, per the org. It’s benefits the Science Center to foster a positive reputation and grow relationships beyond the region where it’s based (an attitude evidenced by the org’s backing of Tennessee-based medtech startup PopCheck Technologies).

The companies in the spring 2023 Capital Readiness Program are spending this week, from June 12 to 16, in person at the Science Center, where they will hear insights from due diligence partners, get personalized feedback from investors and participate in a mock board meeting, among other lessons.

“This program is critical to help startups navigate fundraising in the current economic climate,” said Heath Naquin, VP of government and capital engagement, in a statement. “The Science Center brings its expertise alongside a breadth of local and national experts and investors to help startups become investor ready.”

Here are the 10 companies that were selected:

  • AB Fertility (Philadelphia) — Develops products for reproductive medicine
  • (Pittsburgh) — Uses AI to create virtual support communities for women and connect them to resources during pregnancy
  • BioCurie (Wilmington, Delaware) — Developing an AI software platform to improve cell and gene therapy
  • EmpiricaLab (Austin) — Developing a platform for healthcare teams to improve collaboration and training
  • MTDS (Wolfforth, Texas) — Developing automatic kiosks for lab tests and a mobile app for telehealth appointments and prescriptions
  • Prana Thoracic (Houston) — Working on early intervention for lung cancer and developing the first minimally invasive lung-sparing device
  • Rubitection (Pittsburgh) — Developing a platform to monitor skin health, specifically for people suffering with chronic conditions such as pressure injuries, bedsores, diabetic foot ulcers or psoriasis
  • Steradian Technologies (Houston) — Developing a non-invasive diagnostic device that can detect infectious disease
  • Taurus Vascular (Houston) — Developing a minimally invasive catheter device to improve aortic aneurysm treatment
  • Trace Orthopedics (Philadelphia) — Working on improved methods for tendon repair
Sarah Huffman is a 2022-2023 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Lenfest Institute for Journalism.
Companies: University City Science Center

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