About the Challenge
The $200K Challenge is an annual start-up competition hosted by M2D2 focused on identifying and rewarding disruptive companies in the medical technology and biotechnology industries.
Every year we receive scores of entries from entrepreneurs worldwide. This year, up to 20 finalists will become eligible to win a share of our $200,000 purse of sponsor-provided, in-kind services. These services include lab and office space; engineering, product development, legal, regulatory, clinical, and business services. Past winners have been empowered to bring their innovations to life—and to market. Watch last year's winning pitches.
We welcome innovations that address the full range of medical device challenges, and this year we're especially interested in ideas that can benefit from our association with the BARDA DRIVe initiative.
Deshpande Foundation sponsorship opportunity for India-based teams
For the second straight year, the Deshpande Foundation has announced it will sponsor up to three early-stage India-based life sciences companies that are chosen as Challenge finalists.
This generous sponsorship will cover all travel and housing expenses for those teams, as well as tours around the Massachusetts life sciences innovation ecosystem and introductions to potential mentors and investors.
Interested India-based medical device, medtech, and biotech startups can learn more here or email M2D2 Director of Operations, Mary Ann Picard: MaryAnn_Picard@uml.edu. MaryAnn_Picard@uml.edu.
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Monday, January 6: Entries open
Thursday, January 23: Live Webinar: "All About the Challenge." DOWNLOAD THE POWERPOINT
Sunday, February 16: Entries close
Wednesday, March 4: Finalists announced
Tuesday, March 17: Finalist applications & posters due
Thurs. March 5-Tues. 24: Coaching sessions for finalists
Tuesday, March 24: Finalist slide decks due
Wednesday, March 25: Finalist Pitch-Off
Tuesday, April 7: Awards Celebration
Key Challenge dates—Mark your calendar!
The Massachusetts Medical Device Development Center (M2D2) is a lifeline for the state’s smaller medical device companies, offering inventors and executives easy, affordable, and coordinated access to world-class researchers and resources at the Lowell and Worcester campuses of the University of Massachusetts.
M2D2 leverages the engineering, business and clinical strengths of the UMass campuses in Lowell and Worcester to provide fee-based services in the areas of business planning, product prototype development and clinical pathway assistance.
M2D2 is proud to be the only BARDA DRIVe accelerator in New England. BARDA’s DRIVe aims to empower people and give them a greater role in their health outcomes. They are actively seeking better ways to detect threats, point-of-use indicators, biological and physiological sensing technologies.
Thanks to a recent $7.9 million grant from the National Institutes of Health (NIH), M2D2 is also currently playing a large role in the development of CAPCaT, a new Center for Advancing Point-of-Care Technologies focused on heart, lung, blood and sleep disorders.
Key Dates at a Glance
Is there an application fee?
The application fee for the first 25 entrants is $25 and $50 for all other entrants.
How do I apply?
You need to register on our online platform here, complete an online questionnaire, and upload the required documentation.
Who can enter?
Inventors, entrepreneurs, start-ups, and university researchers are all welcome to enter the challenge!
Do I need to have a registered company to apply?
No, university researchers and research teams are encouraged to apply. In the field where it asks for company name, type "none."
Can I enter as part of a team?
Yes! You can enter as an individual or team working in academic, research, or commercial start-up setting and have an innovative product or solution.
Does an applicant have to give up any equity?
No, no equity is taken.
When do I need to submit my application?
You or your team leader needs to complete and submit all the application materials before the midnight deadline on February 16, 2020 EST.
Are travel expenses paid?
No, applicant start-up companies are responsible for their travel costs related to attending pitch events and mandatory in-person events, where applicable.
What are the eligibility criteria for the M2D2 $200K Challenge program?
M2D2 seeks early to mid-stage start-ups in the medical device and biotech spaces. Specific areas of focus can be found here. We encourage those who are developing a product and/or service in the healthcare areas outlined to apply.
How do you select finalists for the M2D2 $200K Challenge?
M2D2, along with its Challenge sponsors, evaluates all applications based on value, strength, and execution plan. The company strength for each category is evaluated using multiple metrics.
We just raised a Series E, can we still apply?
Yes! M2D2 encourages applications from companies at all stages of fundraising, from friends and family to seed and beyond to apply to the $200K Challenge. Preference is given to companies with transformative potential and those who will benefit the most from working with M2D2 and the Challenge sponsors.
We are developing a transformative healthcare technology at a university research lab. Can we apply?
Yes! Ventures involving technologies licensed from universities or research labs are encouraged to apply.
I noticed there is coaching available for finalists. What is this like?
All finalists are offered coaching appointments to meet with subject matter and pitch experts to refine their presentations and be ready for the pitch-off showcase event on March 25th. Coaching is organized by Mintz and is held at their offices in Boston.
If I am selected as a finalist do I have to attend the pitch event on March 25th in person?
Yes! You will gain the most value and exposure from pitching in person and interacting with the Challenge sponsors and investors.
Do I need to relocate to participate in the $200K Challenge?
No, but we hope one reason you’re applying is to gain access to the Boston ecosystem. This is a great way to do it!
We are based outside the U.S. Can we apply to the $200K Challenge?
Yes, international applicants are welcomed and are encouraged to apply.
I applied previously but didn’t receive an award. Should I reapply?
Yes, you should apply again as long as the proposal isn’t identical. The needs of the industry and sponsor interests are constantly evolving and can change from year to year. Any updates that took place over the past year should be highlighted in your application.
What are the key dates I should be aware of?
Application deadline: February 16, 2020
Finalists announced: March 4, 2020
Finalist materials due: final application & poster due March 17th, 2020. Slide deck due March 24, 2020
Finalist showcase pitch-off: March 25, 2020, at UMass Lowell, Lowell MA
Awards announcement event: April 7, 2020, at Mintz, One Financial Center, Boston MA
Will finalists be notified ahead of time if they should attend the awards event on April 7th?
No! All finalists are expected to attend the awards event and be prepared to present their slide deck to the audience. It is a great opportunity for networking with Challenge sponsors, investors, fellow entrepreneurs, and others. Poster sessions are provided to all finalists at this event.
If I’m not selected as a finalist, will I receive a written explanation?
Unfortunately, due to the high number of applications, we cannot provide a written explanation to every applicant who isn’t selected as a finalist. Most times, it is due to not being properly aligned with the call for applications.
UroRelief, with a non-invasive device for treatment of overactive bladder
3rd Place Winners
NPT Rapid Testing, who are developing a novel diagnostic for accurate and early detection of bloodstream infections
Kinnos, with an innovative infection control device
Dynocardia, developers of a wearable cNIBP monitor for outpatient monitoring and #hypertension management
Asahi Intecc Award: Neurovascular Diagnostics, with an RNA expression diagnostic to detect biomarkers of unruptured intercranial aneurysms
Amgen Award: EnLiSense, who developed a clinically relevant wearable electrochemical biosensor system
Deshpande Award: BuzzArk Simulations, with a VR simulation of natural orifice surgery procedures
Hologic Award: UroMonitor, whose device simplifies and improves diagnosis and treatment of stress urinary incontinence
Boston Scientific Award: Respirix, who are developing non-invasive cardiac monitor for congestive heart failure patients
Johnson & Johnson Award: Endovascular Engineering, with a novel platform for mechanical thrombectomy in stroke
MPR Award: ARO Medical, with their minimally invasive treatment device for orthopedic surgery
2nd Place Winners
Massachusetts Life Sciences Center Award: EnClear Therapies, with a treatment device to stop progress of neurodegenerative diseases
1st Place Winners
Check out last year's winners and see the winning pitches.