Medical Device Incubator Launched
Seedling Enterprises LLC (Newton, MA) will do more than just finance inventors. The company will acquire technologies and internally support their development until an appropriate exit is reached. Inventors will be given a source for research support, development engineering resources, market assessment capability, and financing.
Private funding was raised from medical device executives, venture capitalists with ties to the medical device industry, and several seed funds.
"The investment community is currently quite cautious, even hesitant about early stage medical device investments," said Allan Ferguson, an investors in the new company. "Independent of this current situation, the venture community invests in companies, not in product opportunities. There is a constant stream of new ideas therefore, that do not have a home. Among this unsupported stream, there are significant opportunities available if one has the commitment and the mechanism to analyze and determine which have merit plus a process to create value," Ferguson added.
ACT Medical (Newton, MA and Santa Clara, CA) will provide engineering and support services to Seedling, allowing the company to minimize start-up and infrastructure investment.
For more information: Seedling Enterprises, 150 California St., Newton, MA 02458. Tel: 617-454-6026. Fax: 617-965-6546. E-mail: jcvinar@seedlingenterprises.com.