The Kosciusko Economic Development Corporation (KEDCO) today announced the launch of a Medical Technology Accelerator Studio, which will develop a robust pipeline of medtech startup companies to complement and advance the existing product development and manufacturing capabilities in Warsaw, the Orthopedic Capital of the World®.
“We want our community to be known for how it supports entrepreneurs. We already have a strong foundation, with thriving businesses both large and small, and by establishing this pathway for innovation in our own backyard to support Kosciusko County and area businesses, we’re planting seeds to benefit our area 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 experienced startup founders who’ve developed successful accelerator studio-model programs in markets and industries throughout the state. The program launch is supported by funding from the Don Wood Foundation and Kosciusko County.
“This unique program will help to ensure that we continue to cultivate new innovations, startup companies, and new opportunities in our community,” said Kosciusko County Commissioner Cary Groninger.
The MedTech Studio is the first of its kind in the area. KEDCO will kick off the program with several events, including a “Now What’s Next?” information session on July 21st in Warsaw, which will be followed by a series of events facilitated by NEXT Studios over the next 3-4 months including:
- Barriers to Innovation – A workshop who desire to unleash the innovators in their midst.
- Design Thinking – An event to generate new ideas to solve problems for future customers.
- Discovery Week – An accelerator for founders to help pressure-test ideas and build confidence.
The events will then be repeated with participating companies and startups to build capability within the local teams to continue programs in the future.
“More than 80% of all new jobs originate from companies under five years old,” says John McDonald, Managing Entrepreneur with NEXT Studios. “Building a supportive ecosystem to facilitate entrepreneurship is key to long-term sustainability. And KEDCO is leveraging its resources to engage its community and its workforce to build amazing things to come.”
Meeting space for the program will be available to companies in Downtown Warsaw, with generous support from MED Institute for equipment and technology needs for the space.
“MED Institute is a proud partner of many companies within Kosciusko County and we look forward to planting even deeper roots in the community. We’re privileged and excited to be a partner of KEDCO in this effort,” said Justin Renfrow, MED Institute Contracts Director.
KEDCO is encouraging business leaders to get involved by participating in the sessions, recruiting folks to participate, sponsoring a startup team, and serving as coaches and mentors to startup founders
