Overview
What is Medtech Innovator?
Medtech Innovator, based in Los Angeles, California, is a renowned nonprofit organization dedicated to fostering growth in healthcare innovation. Their mission is to enhance patient lives by supporting transformative startup companies in the medical device, digital health, and diagnostic sectors. Medtech Innovator achieves this goal through two primary activities: sector/regional-based competitions and a four-month mentorship-driven accelerator program for leading applicants. They provide valuable resources, networking opportunities, interactive workshops, and coaching to the selected startups, aiming to secure their next round of funding and increase industry visibility. With a team of highly qualified staff, Medtech Innovator boasts a vast network of industry executives, healthcare providers, investors, and key opinion leaders who offer feedback and guidance throughout the program. Events occur annually, both virtually and in various cities worldwide, attracting top talent and stakeholders in the medtech innovation ecosystem. Funded by corporate donors and grants, Medtech Innovator aims to bridge the gap between groundbreaking healthcare technologies and those in need.
Official website here: www.medtechinnovator.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
Medtech Innovator has received a three-star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The organization has demonstrated strong governance with a fully independent board, which is a positive aspect of its operational transparency. However, the rating is predominantly based on a single beacon score, indicating that there may be areas for improvement, particularly in broader financial reporting and transparency.
The organization's strengths include excellent scores in key financial metrics such as program expense ratio and fundraising efficiency, showcasing its ability to manage resources effectively. Additionally, it has established robust governance policies, including a conflict of interest policy and a whistleblower policy, which further enhance its accountability framework. These factors collectively contribute to the charity's reliable financial practices.
On the downside, the organization has not reported an independent board size, which may raise questions about its governance structure. Furthermore, there is a notable lack of financial statements available, which could limit stakeholders' ability to fully assess the organization's financial health and decision-making processes. Overall, while Medtech Innovator scores well in several areas, addressing these limitations could improve its standing even further.
This AI summary has been generated from information found on Charity Navigator.
Is Medtech Innovator legitimate?
Medtech Innovator is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medtech Innovator submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,171,078
Professional Fundraising Fees: $0
Other Salaries and Wages: $584,018
For more financial information, click here
Official website here: www.medtechinnovator.org
What is the mission statement of Medtech Innovator?
Medtech Innovator, a global organization, aims to enhance patient lives by fostering the growth of medical device, digital health, and diagnostic startup companies. Despite numerous entities providing early-stage support for healthcare innovation, many fail to reach patients due to regional limitations and finite resources. Medtech Innovator was established to address this issue by identifying promising startups and immersing them in a world-class virtual medtech ecosystem, regardless of their location. This organization offers a resource-rich environment to help startups refine their business models, develop value propositions, and secure funding, among other challenges. Medtech Innovator's flagship program supports these startups and scale-ups, providing critical industry exposure, networking opportunities, interactive workshops, and coaching. The organization also introduces startups to leading investors, manufacturers, providers, and customers, ultimately improving the healthcare system.
Official website here: www.medtechinnovator.org
Who is the CEO of Medtech Innovator?
Paul Grand is the Director of Medtech Innovator. The CEO's salary of Medtech Innovator is $577,000 and their total compensation is $600,906.
Official website here: www.medtechinnovator.org
What is the revenue of Medtech Innovator?
Medtech Innovator's revenue in 2022 was $3,463,152.
Official website here: www.medtechinnovator.org
Who are the executives of Medtech Innovator and what are their salaries?
The average compensation at Medtech Innovator during 2022 was $146,258. There are 12 employees and 400 volunteers at Medtech Innovator.
Here are 5 key members and their salaries (Medtech Innovator's CEO's salary is $577,000 and their total compensation is $600,906):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $577,000
- Related: $0
- Other: $23,906
- Compensation: $250,000
- Related: $0
- Other: $49,164
- Compensation: $175,000
- Related: $0
- Other: $27,348
Official website here: www.medtechinnovator.org
Where can I find the form 990 for Medtech Innovator?
Medtech Innovator's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.medtechinnovator.org
Learn more at the official website: www.medtechinnovator.org
Mission Statement of Medtech Innovator
Medtech Innovator, a globally recognized organization, is dedicated to enhancing patient lives by accelerating the growth of innovative medical device, digital health, and diagnostic startups. Its mission is twofold: firstly, it hosts sector- and region-specific competitions for promising healthcare innovation startups. Secondly, it offers a four-month mentorship-driven accelerator program for the leading applicants. The competition involves various rounds, during which numerous applicants gain exposure to industry leaders through online application reviews, pitch events, and public competitions. The top companies are then accepted into the annual cohort, gaining critical industry-wide visibility, access to leading investors, manufacturers, providers, and customers. Among numerous benefits, they receive exclusive networking opportunities, interactive workshops, and coaching.
Medtech Innovator's team consists of talented individuals with advanced degrees and doctorates in fields related to the startups they assist. They have a deep understanding of the medical technology and life sciences industries, including regulatory and reimbursement requirements, the investment environment, and clinical and scientific needs for research and development. By partnering with hundreds of industry executives, health care providers, investors, and key opinion leaders, Medtech Innovator offers these experts as application reviewers and judges at regional pitch events and competitions, providing valuable feedback, guidance, and mentorship to companies that progress through the program.
In summary, Medtech Innovator's mission is to improve the lives of patients by offering substantial resources and networking connections to startups, guiding them throughout the accelerator program, and providing direct funding to select companies through awards in the competition. By uniting leading stakeholders in the medtech innovation ecosystem, Medtech Innovator supports and guides transformative early-stage companies, aiming to solve unmet patient needs and increase efficiency, quality, equity, and value in the healthcare system.
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Impact
July, 2024
Medtech Innovator's impact lies in accelerating the growth of startup companies that are transforming the healthcare system and improving the lives of patients. By offering substantive resources, mentorship, and direct funding to selected companies, Medtech Innovator serves as the largest healthcare accelerator globally, uniting key stakeholders in the medtech innovation ecosystem to support early-stage companies in solving unmet patient needs and increasing efficiency, quality, equity, and value in healthcare. Through its global competition and virtual accelerator, Medtech Innovator provides a unique framework that aims to ensure that important healthcare technologies reach patients in need.
This information is meant to be a general summary of Medtech Innovator. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $3,463,152
Assets and Liabilities:
- Total Assets: $5,483,836
- Total Liabilities: $335,883
- Net Assets: $5,147,953
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Organization Details
Founding Year
2016
Phone
(707) 466-6887Principal Officer
Paul Grand
Main Address
907 WESTWOOD BLVD 1067, LOS ANGELES, CA, 90024
Website
www.medtechinnovator.orgNTEE Category
Code: B90 - Education
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