New MedTech Contest Helping Healthcare Startups Bring Their Innovations To Market Faster
Contest By MedTech Startup Support Platforms Quroba and ScaleHealth Helping Entrants Fast-Track FDA Approval Process
MedTech startup support technology platform Quroba, in conjunction with healthcare innovation gateway, ScaleHealth, is pleased to announce the launch of the ScaleHealth & Quroba Digital Health/MedTech Challenge. The contest, which begins accepting submissions on May 15th, 2023, and closes on August 1st, 2023, is open to MedTech startups with projects that are in need of FDA approval. Winners of the contest will receive go-to-market guidance from Quroba’s stable of FDA regulatory partners and Quality Compliance specialists, a 6-month to 1 year program aimed at fast tracking the FDA compliance process. Contest winners will be announced in October, 2023. The submissions portal can be accessed HERE.
The contest is aimed at breaking through layers of governmental red tape and addressing systemic issues in the healthcare system by enabling companies to bring innovative solutions to the markets faster and accelerate what can be a difficult and time-consuming regulatory process. The competition will be judged by a panel of distinguished healthcare, legal, and regulatory industry experts. The Grand Prize winner will receive $20,000 of in-kind services, the second prize winner will receive $15,000 of in-kind services, and the third-place winner will receive $5,000 of in-kind services.
“While the Challenge is competitive in nature, it is also about building community,” says Kwame Ulmer, Principal at Quroba and Managing Partner at MedTech Impact Partners. “That's why our panel of industry experts will be providing detailed feedback on all submissions regardless of their performance in the competition. The opportunity to get your business in front of some of the industry’s biggest players means that, in a sense, everyone who applies will be a winner.”
In order to enter the contest, applicants must meet the following eligibility requirements:
- Established product or project infrastructure
- Defined business plan
Quroba is a technology platform created by an expert team of regulatory, quality, and compliance advisors to provide comprehensive solutions for early- and mid-stage MedTech companies aiming to bring their products and services to market faster. The company uses a pioneering regulatory strategy created by former FDA executives to help accelerate clients’ growth and provide internal audits and quality and compliance recommendations to help them perfect their product. Their hands-on, collaborative approach sets their clients up for long-term success.
“We are excited to announce the launch of the ScaleHealth & Quroba Digital Health/MedTech Challenge,” says Soumya Mahapatra, Principal at Quroba and Founder/CEO of Essenvia, Inc. “The need for transformative healthcare solutions has never been more apparent than over these past few years, and we hope that this prize will do its part in bringing these kinds of solutions to market faster. By empowering these companies, we empower the communities they serve and democratize healthcare along the way. That is the ultimate goal of this contest.”
The process of receiving FDA approval can be time-consuming and expensive. Quroba’’s services help companies integrate their business and regulatory strategies and can reduce compliance overhead to near zero.
“Without the proper experience and expertise on your side, trying to get FDA approval can be a time-consuming process,” says Taylor McPartland, CEO of ScaleHealth, contest co-sponsor and MedTech innovation platform and marketplace that connects startups with strategic organizations in a way that saves time and money while accelerating outcomes. “The ability to streamline that process allows you to focus more on developing and implementing your vision. Helping companies put more resources toward the big picture is a powerful way to create real change.”
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