CHICAGO, Aug. 1, 2014 /PRNewswire/ -- The PROPEL Center of the iBIO Institute, dedicated to increasing the number and success rate of early-stage life sciences companies in Illinois, announced today that it has awarded 15 grants to help Illinois entrepreneurs attend AdvaMed 2014: The MedTech Conference in Chicago. AdvaMed 2014 is the leading MedTech conference in North America, bringing more than 1,000 companies together in a uniquely multifaceted environment for business development, capital formation, innovative technology showcasing, world-class educational opportunities and networking. An event rich in international flavor and featuring a diverse attendee list that includes influential policy-makers, business executives and media, AdvaMed 2014 seeks to advance industry discussion from key perspectives through detailed panel sessions, executive forums and more.
"AdvaMed consistently provides an extremely valuable opportunity for the best in the medical device industry to join together and participate in highly educational conversations and programming," said Advanced Cooling Therapy Co-Founder, Erik Kulstad. "Due to this fact, Advanced Cooling Therapy is honored to accept the award from PROPEL as it will allow us to participate in critical industry discussions, update the community on our most recent milestones and present our innovative technology to a vital network."
PROPEL awarded grants to help Illinois early-stage life sciences companies participate in the conference's Company Presentations, as well as grants to attend the conference itself. In addition to Advanced Cooling Therapy, PROPEL grant recipients include Briteseed, Cearna, Cell Habitats, DeNovX, Endotronix, Innoblative Designs, Inspirotec, Medical Ingenuities, Novian Health, Ohmx, Pax Neuroscience, PixelEXX Systems, Sintact Medical Systems and Sword Diagnostics.
"Many of our early-stage life sciences companies can benefit from attending AdvaMed 2014, but often the cost of registration can be prohibitive for these startups," said Barbara Goodman, senior vice president of PROPEL. "With these awards, and with the AdvaMed conference taking place in Chicago this year, it is a great opportunity to showcase Illinois' outstanding medical devices, medical technologies, and thriving startup community."
"Through these grants, iBIO and PROPEL are enabling Illinois-based MedTech startups to present to investors and interact with global device and diagnostic industry leaders, investors, regulators and other innovators," said Ashley Wallin, executive director of AdvaMed's Emerging Growth Company Council. "As a hub of MedTech activity, we are thrilled to hold the conference in Chicago this year, and it is rewarding to know that these innovative technology companies will improve the lives of patients everywhere."
"PROPEL is a tremendous asset to Illinois-based life science startups, and offering these Emerging Growth Company Scholarships gives 15 companies unparalleled opportunities to reach industry leaders and showcase their life-changing technologies," said Ray Briscuso, managing partner and producer of AdvaMed 2014.
PROPEL would also like to congratulate PROPEL companies Diagnostic Photonics and Corvida Medical for being selected to receive AdvaMed 2014's NIH Scholars Awards.
PROPEL is a group of programs aimed at increasing the number and success rate of early-stage life sciences companies in Illinois. PROPEL helps guide the development of formation-stage and early-stage life sciences companies by providing entrepreneurs with access to specialized resources and expertise to prepare them for early-stage funding. PROPEL is a Center of the iBIO Institute. To learn more about PROPEL and its programs, visit www.ibiopropel.org.
About iBIO Institute
The mission of the iBIO Institute is to orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures. The Institute's EDUCATE Center delivers science and math programs for teachers and students, thereby inspiring the next generation of innovators and helping restore America's leadership in technology education. The Institute's PROPEL Center increases the number and success rate of early-stage life sciences companies in Illinois. To learn more about iBIO Institute and its programs, visit www.ibioinstitute.org.
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