The Future of Boston’s Medical Device Community May Include a Decidedly French Accent
For two early stage French medical device companies, the upcoming MassMedic MedTech Showcase could be a game changer. The more than 300 event attendees, including investors and potential business partners, could be a determining factor on whether either company gets an opportunity to become part of the region’s coveted healthcare community.
The two French start-ups – DAMAE Medical and Neurallys – are being awarded by the City of Boston and the Greater Boston Chamber of Commerce the “Paris Boston MedTech Award” as recognition of their innovation and their potential for entry into the US market. They were selected by a bi-national jury composed of French Tech Hub – the largest French startups accelerator in the US with an office in Boston – and MassMedic (Massachusetts medical devices industrial alliance). Last year’s winner of the award, Biomodex, has since relocated its CEO to Boston and is hiring locally. These start-ups are part of a 250-company life sciences ecosystem in the Paris Region -- the Medicen Paris Region competitiveness cluster -- one of the largest healthcare hubs in Europe.
“Given Boston’s legacy as a global innovation leader in IT, medical technology and life sciences, French Tech Hub and its partners are ramping up an already strong effort to further globalize the French ecosystem - with Boston as a hub,” said Marie Buhot-Launay, GM US Market Entry for French Tech Hub. “With our Paris-based partner, Medicen Paris Region, we’re working to bridge the gap between Paris Region and Massachusetts’ ecosystem. We believe both clusters can help healthcare companies thrive and become industry leaders.”
Since 2012, French Tech Hub has served more than 200 French IT and life sciences companies in the U.S., which have raised more than $200M in venture funding. Among these, 26 selected Massachusetts as their U.S. beach head. French companies overall, from startups to large corporations, have had a significant impact on the state’s economy with 26,000 local jobs created and more than $1.5 billion annual trade in goods.
“These numbers are due to both the attractiveness of the greater Boston area and the efficient support of the French local organizations in New England -- including the French American Chamber of Commerce, the French Consulate in Boston, as well as Medicen Paris Region,” Ms. Buhot-Launay said. On behalf of DAMAE Medical and Neurallys, French Tech Hub and Medicen Paris Region are also leveraging the resources of Bpifrance, the full-service financing arm of the French government.
MassMedic MedTech Showcase 2017
On Oct. 27 at the Westin Hotel, in Waltham, DAMAE Medical and Neurallys will be among 21 handpicked startups to “pitch” their business to the region’s largest medical technology audience. How the two company’s business plans and technologies are received by the audience could be their difference maker.
DAMAE Medical provides dermatologists with a new in vivo imaging modality capable of producing in-depth images of the tissue, like histology without the need for skin tissue excision and processing. Neurallys has developed a smart sensor offering continuous measurement of intracranial pressure for patients living with hydrocephalus (a condition in which there is an accumulation of cerebrospinal fluid within the brain) to diagnose valve dysfunction, increase patient comfort and prevent exploratory surgeries for people who have a shunt.
About French Tech Hub
With offices in Boston and San Francisco, French Tech Hub – the American subsidiary of Paris Region Enterprises - helps French innovative companies efficiently enter and accelerate growth in the U.S. They support each client company with an agile team that delivers customized services to streamline U.S. market entry, rapid expansion and operational success. http:/frenchtechhub.com/
About Medicen Paris Region
Medicen Paris Region is a competitiveness cluster for innovative health technologies, with national and international scope. With nearly 300 companies, research centers, universities, hospitals and local authorities as members, it aims to position the Paris region as Europe's leading health cluster. It focuses on five strategic areas: biological diagnostics, diagnostic and interventional imaging, regenerative medicine and biomaterials, digital health and translational medicine. www.medicen.org
MassMEDIC is the Massachusetts medical devices industrial alliance that boasts more than 350 members (hospitals, manufacturers, corporations, SMEs, academia). https://www.massmedic.com/