Accelerating Small Businesses
AdvaMed Accel is the division within AdvaMed committed to accelerating the growth and success of small medical technology companies. Accel is dedicated to providing advocacy for a policy environment more conducive to capital formation and innovation; insight into ever-changing regulatory, reimbursement, compliance and business environments; and opportunity for member engagement with peers, subject matter experts, and policymakers, as well as strategic partners and investors, to help small companies thrive.
In 2018, AdvaMed Accel advocated for policies that improve the opportunities for capital formation for small- and mid-sized businesses. To highlight the positive impact of NIH funding on small companies in particular, AdvaMed Accel featured members utilizing SBIR/STTR funding at an AdvaMed medtech showcase event on Capitol Hill in June. An extension of NIH SBIR/STTR administrative funding pilot programs through 2022, supported by AdvaMed, was subsequently implemented in August under the National Defense Authorization Act. The move represented a significant win for small companies that leverage this non-dilutive government funding to advance product development and commercialization.
AdvaMed Accel also continued to support development and passage of legislation to improve the tax environment for start-up financing, such as the American Innovation Act (H.R. 6756). The Act is intended to improve incentives for investment in start-ups, including tax treatment of net operating losses (NOLs) under Section 382. Following House passage of the bill in September, AdvaMed Accel advocacy focused on urging Senate consideration of the legislation.
Business Development & Investor Relations
AdvaMed Accel leveraged its role as a convener of key industry stakeholders in 2018 to engage the investment community for the benefit of small companies. This included arranging for a discussion led by a Morgan Stanley analyst at AdvaMed’s CEO Summit in March. Meanwhile, the AdvaMed Accel Business Development Working Group’s quarterly meetings included an in-person event at the Piper Jaffray Heartland Summit in June; the group also supported several additional networking events at other industry and investor conferences throughout the year. During The MedTech Conference in September, AdvaMed Accel organized and hosted a VIP reception for investor groups led by high-net-worth families. The division also established a strong relationship with the Association of Technology Managers, and technology transfer offices, to facilitate connections between academia and industry.
AdvaMed Accel’s member engagement activities in 2018 – which contributed to membership growth during the year – included a focus on instituting regional programming and creation of a series of best-practice guidelines for small companies related to key regulatory, reimbursement and funding issues.