What type of medtech are you seeking?
We are seeking engineering and science innovations that create a positive impact on patient outcomes and lower the cost of healthcare through the innovation’s application or design. The program is designed for devices and diagnostics; no software-only products.
If I’m still working to bring on a co-founder, am I eligible?
We look for startups that have formally started to build the team; this typically means that a person operating completely alone is not a good fit for the program. Even when someone is a solo founder, we usually find that there are strategic consultants involved in furthering the technology and/or business development. Most investors prefer to invest in a founding team as opposed to a solo individual, so this criterion is also in place to set the startup up for success in the program working with investors. Many skill sets are needed to execute in a startup (more than can be found in any one person), and it shows that the original founder(s) have been able to sell the vision to bring other founders/early employees on board and successfully manage and retain them.
How many hours of participation in the program are required?
About 6-7 hours per week. This includes 4 hours of cohort-based programming, 1 hour of office hours, and 1-2 hours of independent work. We believe that the more you put into the program, the more you’ll get out of it!
Who are the investor-mentors?
The investor-mentors have backgrounds and experience as founders of medtech startups, and are active investors and mentors. For the 2025 program, they include:
- Elaine Bolle, Founder and Board Member, RTP Angel Fund
- Jim Doscher, Angel Investor, Beacon Angels; CEO, Digital Health Advisors
- Tania Fernandez, Founder and Managing Partner, DreamCatcher Ventures
- Kim Frazier, Partner, Capital Formation
- Brent Goldstein, Angel Investor, NuFund Venture Group
- LeKeisha Grant, Innovation Manager, Entrepreneurs’ Center
- Ragan Hart, Senior Associate for Strategic Investments, WRF Capital
- Marianne Hudson, Angel Investor; Executive Director Emeritus, Angel Capital Association
- Ric Hughen, CEO, Linshom Medical
- Terri Jordan, Senior Level Business Development Executive and Global Leader
- Loretta Little, Managing Director, WRF Capital
- Sheila Narayan, Managing Director, Golden Seeds
- Marquicia Pierce Henderson, Founder and Principal Consultant, Ruby Leaf Media
- Jamie Ryan, Managing Member and Principal, JL Ryan Consulting LLC
- Steven Weinstein, Venture Investor
- Isabel Wen, Advisor and Co-Founder, Aurelius
Who is the entrepreneur-in-residence?
- Katie Solley, Co-Founder and CEO, Eyedea Medical
Do I have access to work materials?
Yes, all participants will have access to work materials.
Could you give me an overview of the topics we’ll cover?
Here’s a look at the topics we’ll cover during the program, which will help you prepare for investment:
- Due diligence
- Investor discovery
- Good corporate housekeeping
- Deep dive into the due diligence process
- Milestone planning
- Corporate partnerships & strategic selling
- IP strategy
- Venture math
- Venture math & term sheet breakdown
- Financial projections
- Reimbursements
- Exits and valuations
- Boards and next steps
- Company deep dives
- Building and managing a board
- Mock board meetings
We’ve raised a SAFE before. Are we still eligible?
Yes!
Are there other program-related costs for the startups, in addition to the $350 registration fee?
Yes, you are responsible for your own travel to Maryland, as well as accommodation costs while attending the in-person portion of the workshop.
What sort of preparation should I do if accepted?
We strongly recommend that you invest in your deal room—organizing your materials, corporate housekeeping, deck, and financials; and thinking through your fundraising ask and milestones.
What’s the profile of a startup that has been accepted?
Strong candidates will have successfully validated product-market fit, tested initial business model hypotheses, and have made a full-time commitment to their startup.
I haven’t participated in past VentureWell E-Team programs / I am new to VentureWell. Can I still participate?
Yes! While many VentureWell E-Team Program alumni do advance through our suite of programs to take part in Aspire, the program is open to startups that haven’t yet taken part in VentureWell programming.
What are the outcomes of the program for the startups?
Since 2015, we’ve supported 237 startups that have participated in Aspire. Those teams have raised a total of $585M+ in follow-on funding, with a 81% venture persistence rate—and you could be eligible to join their ranks!
I have questions about the program and our eligibility. Who should I contact?
Please reach out to Patrick Beattie, Senior Program Officer.
The 2025 Aspire Medtech program is offered in partnership with our generous sponsors, The Lemelson Foundation, TEDCO, and Cooley LLP.
