FOR IMMEDIATE RELEASE: October 2, 2018
For more information:
Maureen L. Mulvihill, Ph.D./814-355-0003
ACTUATED MEDICAL, INC. ONE OF 17 NASA I-CORPS BOOTCAMP COMPANIES IN 2018
BELLEFONTE, PA – Actuated Medical, Inc. (AMI) was one of 17 companies funded by NASA in 2018 for its Innovation Corps (I-Corps) Beat-the-Odds Bootcamp. I-Corps awardees must have an SBIR or STTR award from NASA to qualify. The full list of alumni can be found here: https://sbir.nasa.gov/content/I-Corps#alumni. This is the second year for NASA’s I-Corps program.
Originally created by the National Science Foundation (NSF) in 2011, the I-Corps training is designed to lower market risk by encouraging small and start-up companies to “get out of the building” for customer discovery, allowing participants to develop their business model through the Business Model Canvas.
The Beat-the-Odds Bootcamp is an abbreviated form of I-Corps, requiring each participating company to complete 30 customer discovery interviews within the 8-week time frame. AMI’s Director Research & Development, Roger B. Bagwell, Ph.D., served as the Principal Investigator on the project.
“This NASA project is new territory for AMI, and I-Corps is a great starting point for building a business around a new technology,” said Bagwell. “We scanned across several potential customer segments, and now we can dig deeper to build a stronger business plan.”
The program concluded with a “Lessons Learned” presentation by each Bootcamp team on September 17, 2018 in the Washington, D.C. area. This is the second I-Corps program for AMI in 2018. The first program was offered through the National Institutes of Health (NIH) and National Cancer Institute (NCI) and required more than 100 customer discovery interviews over eight weeks. That I-Corps program kicked off on April 9 in Boston, MA and concluded on June 1 in Washington, D.C.
“I-Corps is intense,” said Maureen L. Mulvihill, Ph.D., President & CEO of AMI. Mulvihill served as AMI’s Entrepreneurial Lead in the NIH I-Corps program. “We learned a lot about the medtech industry in 104 interviews, including how clinicians and hospitals consider new technology for their practice.”
Dr. Mulvihill will share her experience in I-Corps, as well as the other two commercialization programs offered by the NIH at the organization’s annual meeting in Dallas, Texas on October 31, 2018.
The National Science Foundation (NSF) created the NSF Innovation Corps (I-Corps™) (hereinafter I-Corps) Program in 2011 to develop and nurture a national innovation ecosystem that builds upon fundamental research to guide the output of scientific discoveries closer to the development of technologies, products and processes that benefit society.” NSF’s I-Corps training is designed to lower the market risk inherent in bringing a product or innovation to market, thereby, improving the chances for a viable business. Since NSF started the I-Corps Program in 2011, several other Federal agencies have funded I-Corps cohorts including NIH, DHS, USDA, DOD and DOE.
For more information, please visit https://sbir.gsfc.nasa.gov/content/I-Corps#q1.
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About Actuated Medical, Inc.
Actuated Medical develops medical devices that integrate electronically controlled motion technologies that improve patient outcomes and reduce healthcare costs. Their development process focuses on intellectual property, regulatory, and reimbursement strategies to decrease commercialization risk and attract medical device technology acquisition partnerships. Their devices solve unmet clinical needs in target markets e.g., GI, critical care and pediatrics. Actuated Medical a certified women-owned business located in Bellefonte, PA and is ISO 13485 certified.