Medtronic launches Shanghai-based medtech incubator

Medtronic (NYSE:MDT) said yesterday that it launched a new incubator and accelerator in Shanghai, China looking to support early-stage medtech companies both in the region and globally. The newly launched incubator, dubbed the Medtronic MedTech Innovation Accelerator, resides in the Pujiang International Science and TechnologyCity in Shanghai’s Minhang District, the Fridley, Minn.-based company said. “For nearly 70 years, Medtronic has been focusing on developing transformative medical technologies that improve lives. We promote meaningful innovation by continually investing in internal R&D, as well as expanding external partnerships. China represents a tremendous opportunity, given its significant market size, abundance of unmet clinical needs, and active entrepreneurship landscape. Establishment of the Medtronic MedTech Innovation Accelerator forms another bold step to continue to advance innovation through collaboration,” CEO Omar Ishrak said in a press release. Medtronic said that it hopes the new incubator will contribute to Shanghai’s goal of becoming a science and technology innovation hub, adding that the company has received an endorsement from the Minhang District government of Shanghai. “Shanghai’s plan to become a science and technology innovation hub is entering an advanced stage. As a key component in this plan, Minhang District is striving to improve technology commercialization capacity in its jurisdiction. The Medtroni...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured Research & Development Medtronic Source Type: news