Kosciusko Economic Development Corporation. (KEDCO) announced the launch of a Medical Technology Accelerator Studiowhich will develop a pipeline of MedTech startups to complement and advance existing product development and manufacturing capabilities in Warsaw, the orthopedics capital of the world.
“We want our community to be known for how it supports entrepreneurs. We already have a strong foundation, with successful businesses big and small, and by establishing this path of innovation in our own backyard to support entrepreneurs. Kosciusko County and area businesses, we’re ‘replanting seeds to benefit our region for decades to come,’” said KEDCO CEO Alan Tio.
The community is capitalizing on its resources to facilitate future innovation through a partnership between KEDCO and NEXT STUDIOS, a group of startup founders who have developed model accelerator studio programs in markets and industries across the state. The launch of the program is supported by funding from the Don Wood Foundation and Kosciusko County.
“This unique program will help ensure that we continue to cultivate new innovations, start-ups and new opportunities in our community,” said Kosciusko County Commissioner Cary Groninger.
The MedTech Studio is the first of its kind in the region. KEDCO will launch the program with several events, including a “Now What’s Next?” information session on July 21 in Warsaw followed by a series of events hosted by NEXT Studios, including:
- Barriers to innovation – A workshop designed to liberate innovators
- design thinking – An event to generate solutions to the problems of future customers
- Discovery Week – An accelerator for founders to help test ideas under pressure and build trust
The events will be repeated with participating companies and startups to build the capacity of local teams to continue the programs in the future.
“Over 80% of all new jobs come from companies less than five years old,” says John McDonald, Chief Entrepreneur at NEXT Studios. “Creating a supportive ecosystem to facilitate entrepreneurship is key to long-term sustainability. And KEDCO is leveraging its resources to engage its community and workforce to build amazing things to come. “
Meeting space for the program will be made available to businesses in downtown Warsaw, with the support of MED Institute for space equipment and technology needs.