StartUp Health — November 5, 2019
We’re used to seeing coastal cities like NYC and SF top the charts for most-funded health innovation cities. But a new Milwaukee-Madison tech corridor and steady flows of healthtech funding in Chicago and Columbus are putting the Midwest on the map as a heartland of health innovation.
Coastal cities like New York, Boston, and San Francisco often take the top three slots on StartUp Health’s list of most funded health innovation hubs. However, national changes to the U.S. healthcare system — namely moves to value-based care and reimbursement models — are paving the way, albeit out of necessity, for the rise of the rest. According to the StartUp Health Insights Report for 2019 Q3, Chicago was the fourth most funded U.S. metro area for health innovation with over $350M YTD raised. Columbus took 9th place with $75.2M raised. And a look beyond the numbers reveals an emerging health innovation corridor in Milwaukee and Madison, WI with local health companies and institutions of higher education combining efforts to create communities of leaders dedicated to improving healthcare in the U.S.
“There is a lot of focus in the Milwaukee-Madison corridor,” said Nan Gardetto in StartUp Health Magazine: Issue 4. Gardetto is President of The Every Day Good Foundation, and former CEO of the Wisconsin-based snack company, Gardetto’s (acquired by General Mills). “There’s a huge amount of technology brewing here. The Midwest has a lot to offer and the world has yet to see it.”
Meet the Health Transformers who are transforming the Midwest into the heartland of health innovation.
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Eugene Malinskiy, Ilya Malinskiy & Daniel Dudley
Founders, Indago | Ohio
The founders of Indago are on a mission to create the operating room of the future through smart surgical tools. With ArthroFree, the world’s first fully wireless minimally-invasive camera, surgeons can navigate the OR unencumbered by unsafe and unwieldy cables. With a proprietary, patent-pending light engine, secure FDA/FCC-approved wireless data transfer, and a custom, ergonomic design created with leading physicians, the company is bringing ORs into the digital age. Indago has two patent applications published in the US, EU, Japan, and China, with an additional five scheduled for publication in the next 18 months. They have also completed the development of the ArthroFree Platform and audited the entire supply chain in preparation for commercial scale production.