Third Consecutive Year for the Prestigious Recognition
MEMPHIS, Tennessee, June 9, 2017 – The ZeroTo510 Medical Device Accelerator has, for the third consecutive year, has been given a Silver ranking by the Seed Accelerator Rankings Project. The ranking sets ZeroTo510 as one of the Top 25 Accelerators in the country.
“This is a very prestigious recognition for ZeroTo510. It reinforces that over its first five years, ZeroTo510 has built up an expertise and a national reputation in the commercialization of medical technologies including accelerating 24 companies and mobilizing over $12MM of seed investment,” said Dr. Steve Bares, Executive Director of Memphis Bioworks Foundation.
“As a participant in the 2016 ZeroTo510 cohort, I was looking for an accelerator with the financial backing, industry contacts, demonstrated expertise and past successes that ZeroTo510 has,” said Esra Roan, PhD, Co-Founder and CEO of SOMAVAC Medical Solutions. “This is exactly the kind of thing that the Seed Rankings also finds in ZeroTo510.”
On its website http://seedrankings.com/#rankings, the Seed Ranking Accelerator Rankings Project is described as:
“The goal of the Seed Accelerator Rankings Project (SARP), now in its fifth year, is to encourage a larger conversation and research about the seed accelerator phenomenon, its effects, and its prospects for the future. The last five years have seen the emergence of hundreds of groups titling themselves ‘accelerator.’ But not all such programs meet the definition of accelerator, and even for those that do, there are often significant differences in program structure and goals. For an entrepreneur considering an accelerator program, finding data regarding the performance of programs is difficult, and there is much confusion and debate regarding how ‘performance’ should be measured for an accelerator. The goal of our project is to provide greater transparency regarding the relative performance of programs along multiple dimensions that may be of importance to entrepreneurs. Many of the metrics in question, such as fundraising and valuations, are metrics accelerators and startups are reluctant to publicize out of concern for negative competitive effects should they become widely known to investors and competitors. As an independent, non-partisan research entity run by academics, we collect this sensitive data in confidence, distill it down, and provide information on the relative success of the programs and of the phenomenon as a whole – without revealing individual deal details. Our rankings are meant to provide guidance for entrepreneurs who are considering going through an accelerator, and who are wondering how they differ on performance across various categories.”
The majority of medical devices get cleared for commercial deployment through the FDA’s 510(k) clearance process, which is the fastest and most economical route to market for a new medical device. A program of Memphis Bioworks, ZeroTo510 has developed a unique program that enables entrepreneurs with ideas for innovative medical devices to take advantage of the fast path to market. ZeroTo510 is a first-of-its-kind cohort-based medical device accelerator. Hosted in Memphis, Tennessee, the program leverages key regional strengths in biomedical research and medical device manufacturing to create a unique program. For more info: www.zeroto510.com
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