AdvaMed and StartX Announce Partnership to Help MedTech Entrepreneurs Accelerate Innovation
The Advanced Medical Technology Association (AdvaMed) and StartX today announced a new partnership designed to provide medtech entrepreneurs within the StartX network exclusive access to AdvaMed’s resources and expertise to develop and commercialize the latest health care innovations.
This partnership brings together AdvaMed, the world’s largest trade association for medical technology manufacturers and innovators, and StartX, a globally renowned startup community for entrepreneurs affiliated with Stanford University. StartX’s medical community consists of more than 450+ entrepreneurs, managing more than 180 active companies developing transformative medical devices, diagnostic tests, patient monitoring systems, devices to support cancer care and drug-device combinations. They include Stanford professors, first-time entrepreneurs who have raised hundreds of millions, and seasoned entrepreneurs with multiple successes.
StartX Med entrepreneurs are invited to join AdvaMed’s CEO and executive-led community of large medtech and diagnostics companies and nearly 300 smaller, start-up and early-stage companies in the AdvaMed Accel division. In addition, AdvaMedDx and the association’s Center for Digital Health provide focused efforts and resources now available to StartX Med companies in the diagnostics and digital health fields.
“StartX Med has done a remarkable job of advancing incredible innovations that save and improve lives. I’m really excited about this partnership, which gives us, working together, the opportunity to get more of those innovations into doctors’ and patients’ hands,” said Scott Whitaker, AdvaMed President and CEO. “And through AdvaMed Accel, StartX Med alumni will have access to essential resources, decision makers, and information critical to bringing their life-saving and life-changing innovations to patients.”
“It is with open arms that we welcome AdvaMed as a partner to strengthen the support we are providing to our founders innovating in the biomedical fields,” shared Joseph Huang, StartX CEO. “Our community represents the best and brightest founders from Stanford and around the world, including more than 60 tenure-track Stanford Professors translating their research all the way to impacting real patients. With this partnership with AdvaMed, we are sure to improve the time in which it takes these transformative products to reach patients and clinical care worldwide.”
StartX, and StartX Med, the medical vertical of StartX, is a non-profit startup community of more than 1600 Stanford faculty and alumni founders. For medical tech founders homegrown at Stanford’s School of Medicine, having intimate access to domain experts and care environments has been fundamental to their success. StartX Med’s entrepreneurial scientists are changing the world with medical breakthroughs and successful life-saving research, including driving innovations in COVID-19 through the work of its Task Force. The community averages a minimum of 6+ FDA approvals / clearances per year. Clinical partners of StartX Med companies encompass more than 250 hospitals, 30,000 care centers, 50,000 physicians and 65 million annual patient visits. StartX Med founders also have the opportunity to utilize 2,000 square feet of shared wet lab space at the StartX facility, located down the street from Stanford University. StartX continues to be a unique, equity-free startup community.
The StartX community has over $7B in capital raised, 80 exits, and $26B in market capitalization created during the past decade alone. The community includes a former EIR at Kleiner Perkins, EIR at MPM Capital, Head of McKinsey’s Healthcare Group, a founder with exits to Roche and J&J respectively, and over 60 Stanford Professors, to highlight a few of the bright pioneers’ backgrounds who are creating new innovations for patients at StartX Med.
AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.
Mark Brager, VP Communications
Laurie Peters, VP Communications