Recently launched by An Tánaiste Frances Fitzgerald, BioExel is the first investor-ready, seed-funded, international medtech accelerator in Ireland. BioExel is now open for applications from entrepreneurs in the medical technology sector via its website www.bioexel.ie.
BioExel differentiates itself from other programmes in that successful applicants will receive €95,000 (cash and in-kind services) to help significantly accelerate medtech opportunities which have a specific technical, commercial and/or clinical question to answer during an intensive six-month period. It will be a mentor-centric programme based at NUI Galway, with both a seasoned entrepreneur-in-residence (Bob Rosenberg) and investor-in-residence (Gillian Buckley), as well as an experienced management team.
The BioExel Medtech Accelerator aims to further enhance the medical technology sector startup ecosystem within Ireland and to attract global talent to the Galway region. The programme is open to applications from potential teams or individuals both in Ireland or overseas, working in the medical technology sector. There are up to 14 slots available within the BioExel Accelerator over two cohorts, with the first cohort to commence later this year.
Successful applicants to the BioExel Medtech Accelerator will receive membership and a place within NUI Galway for a period of six months, where teams will be able to build and commercially validate their technologies by working with existing entrepreneurial networks and mentors. The patient-focused vision of BioExel is to create innovative medical technologies which are affordable and transformative for patients with both acute and chronic conditions.
“Ireland is recognised as a key hub for medical technology and innovation, and the launch of this new accelerator is an opportunity to further build on our strong international reputation for excellence and innovation in healthcare and medtech,” said An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald TD, at a recent launch of the BioExel Medtech Accelerator.
“The accelerator programme located at NUI Galway and supported by my department through Enterprise Ireland will further enhance the high potential startup ecosystem, and develop startup capability, infrastructure and capital investment within the Galway region. We are delighted to support the initiative, which will go towards sustaining Ireland’s status as a global leader in medical technology innovation.”
The BioExel Medtech Accelerator was originated at NUI Galway by the BioExel management team of Dr Sandra Ganly (co-founder of BioInnovate Ireland) and Fiona Neary (Business Development Manager at the Technology Transfer Office). It will be delivered on the NUI Galway campus, which is also home to the CÚRAM Centre for Research in Medical Devices, as well as entrepreneurial initiatives such as the successful BioInnovate Ireland fellowship programme, Blackstone LaunchPad, and TechInnovate/AgInnovate.
BioExel is a partnership co-funded by Enterprise Ireland’s Regional Accelerator Development Scheme, the Galway University Foundation, the Western Development Commission, and the Bank of Ireland Seed and Early Stage Equity Fund.
Through direct collaboration and coordination with medical technology and healthcare sector stakeholders on opportunities within the marketplace, the BioExel Medtech Accelerator will assist new and emerging enterprises with the commercialisation and internationalisation of their innovative medical technologies, products and services.
Interested entrepreneurs can visit the website www.bioexel.ie to submit an expression of interest and to receive an application form for the accelerator. The current call is open until the closing date of 30th October 2017.