Cove Share startup, Syntr Health Technologies, have advanced as finalists in the BioAccel Solutions Challenge in Arizona. The Solutions Challenge is an annual MedTech entrepreneur competition designed to help align market need with innovation and early investment with a goal to stimulate company formation and commercialization. In 2015, BioAccel approved $135,000 in next-stage funding to winning companies, including student teams. Two winners from the 2015 competition have since raised over $1.5M in additional capital financing.
Syntr was selected among hundreds of applicants under the Novel Medical Devices category, which BioAccel opened to any and all medical technologies originating from current or recently graduated student teams. On December 1st, Syntr will pitch their affordable, point-of-care treatment for Diabetic Foot Ulcers to the judges of the competition known as the Scorpions, a group of executives and business leaders from companies such as Lifelock, Insight Enterprises, Blue Cross Blue Shield of Arizona, Ulthera, Tallwave, Ethisphere, and Cain Brothers.
"We are very excited to have this opportunity to show what we have accomplished in the past year. With the help of the Cove, we feel greatly prepared for this event," said Ahmed Zobi, CEO of Syntr. Participating in programs such as ZAP!, a condensed version of the National Science Foundation's I-Corps program, the Syntr team refined their value proposition and better defined their customer segment. "What we learned from the ZAP! the program will be crucial in convincing the Scorpions to invest in Syntr," said Zobi. The Syntr team will be continuing with the BOOM program in December, the next step after ZAP! to prepare them further for possible long-form programs such as I-Corps in the future.
To learn more about Syntr Health Technologies, visit: http://www.syntrtechnologies.com/
Hai contributes to the Cove as a content writer for both the Currents newsletter and blog. As an alumnus of UCI with a degree in English and a co-founder of a local creative agency, Hai's focus is centered on spotlighting events, stories, and startups within the Orange County community. He is passionate about entrepreneurship and has participated in fast-pitch competitions through the UCI Antrepreneur Center and has co-organized local business and startup groups such as 1 Million Cups and Orange County Young Entrepreneurs.