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To gain acceptance into the IGNITE program, the applicant must go through a vetting process where via a conference call the candidate presents their business plan to the committee, comprised of a potential investor, technology expert, an IGNITE board member, and an end user. If not initially accepted into the program, suggestions will be made to get the entrepreneur to a point where they can be accepted into the program.

About MedTech IGNITE

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MedTech IGNITE, an initiative of the Massachusetts Medical Device Industry Council (MassMEDIC), provides free mentoring to medical device entrepreneurs at the early stages of their company's conceptualization, formation and development. The program focuses solely on medtech startups; our goal is to increase the number and sustainability of quality early stage medical device companies in New England by providing industry-specific, one-on-one coaching to medtech entrepreneurs.

Entrepreneurs accepted into the IGNITE program will be matched with a proven medical device entrepreneur who will serve as the entrepreneur's coach through an 8- to 16-week process. During this period, the entrepreneur elevates his or her business to the next stage, and builds a compelling case to present to potential investors, advisors, strategic partners, and employees.

Once the mentoring phase is complete, the entrepreneur will present the business model and proof of concept to a customized panel of industry experts, representing all functions critical to a company's success, including: financing, human resources, corporate and patent law, clinical, regulatory, marketing, and end user.

The goal of the panel presentation is to test the assumptions of the entrepreneur's business model. In addition to providing constructive feedback on the business model, market assumptions, and sales strategies, panelists will also suggest critical next steps for the organization.

Following the panel presentation, the entrepreneur and mentor will collaborate on devising a comprehensive plan to meet the company's goals for the ensuing six to eighteen months. Once the plan is complete, the entrepreneur and coach will decide on their level of involvement moving forward. Throughout the process, MassMEDIC and the IGNITE team will provide ongoing support via online resources and events.