In Europe, Medtronic and Sofinnova Launch an Accelerator
Executive Summary
One of Europe's leading venture capital firms, Paris-based Sofinnova Partners and device industry powerhouse Medtronic Inc. have announced plans to launch a new medical device incubator or accelerator in Europe-born out of what executives at both companies see as a fundamental disconnect between the clinical and technological richness of Europe and the practical reality of starting a company there. The new organization, designed to take advantage of what both companies believe is a wealth of untapped potential for new device ideas from European physicians, is located on the campus of the École Polytechnique Fédéral de Lausanne, one of the leading technical institutes in Europe.
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In Europe, A Device Incubator Takes On New Partners
MD Start, a European medical device incubator, was launched in 2009 as a collaboration between medtech giant Medtronic Inc. and Paris-based venture firm Sofinnova Partners, to help European physicians bring their ideas to market. The incubator announces two new shareholders in the venture, reinforcing both its US and European connections: Milan-based cardiovascular leader Sorin Group SPA and US venture firm Versant Ventures.
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