MedTech Innovator Declares 2023 Grand Prize Winner

MedTech Innovator, an accelerator of medical technology companies, revealed today that StrokeDx is the winner of its 2023 Global Competition. The winner was chosen by live audience vote during AdvaMed’s The MedTech Conference yesterday.
 
StrokeDx is currently developing a rapid, portable, and affordable sensor that generates small magnetic fields to work like a “metal detector” for strokes. The company bases its technology on the principle that blood contains ions that make it conductive.
 
Ischemic strokes occur when a blocked artery prevents blood flow in the brain. In hemorrhagic stroke, there’s too much blood in a certain location of the brain. The company says moving the sensor around the brain finds areas of too much or too little blood flow. StrokeDx claims early studies with its sensor demonstrate a diagnostic time between one and two and a half minutes.
 
StrokeDx wins a $350,000 prize, as well as a one-year membership to AdvaMed’s Accel program.
 
“The MedTech Innovator program has been incredible, and its impact on our company for years to come will be significant,” StrokeDx’s co-founder and CEO Alexander Ballatori told the press. “Being able to raise this much money as a seed stage company will allow us to move faster, collect more clinical data, refine our hardware, and ultimately get to patients faster. We’re ecstatic about being chosen as the grand prize winner.”
 
“Alex and I met in medical school, where we saw first-hand the effects of stroke. During my Ph.D., we developed this device, but everyone said we were crazy, and last year we didn’t even get into the MedTech Innovator program,” added Dr. Shane Shahrestani, co-founder and COO of StrokeDx. “To stand here today, it means the world to us. We can finally deliver something that can really help patients.”
 
The MedTech Innovator competition has awarded over $500,000 in cash prizes and in-kind awards so far in 2023 with a further $325,000 to be awarded in its two remaining competitions of 2023 to be held November 14-15 at the MedTech Strategist San Francisco.
 
“For more than a decade, MedTech Innovator has helped innovative medical device, diagnostic, and digital health startups advance their life-improving products from concept to commercialization,” said Paul Grand, founding CEO of MedTech Innovator. “Alex, Shane and the team at StrokeDx exemplify the innovation that will improve the health and quality of life of patients globally.”