Golden Valley Med-Tech Startup Companies Receive State Funding
The Minnesota Department of Employment and Economic Development (DEED) announced it’s giving $400,000 in grants to startup companies.
One of those grants — which are officially titled Launch Minnesota Business Operation Innovation Grants — is helping a Golden Valley-based medical company.
Delve Health created a digital platform that connects with wearable health devices like an Apple Watch.
The platform sends clinic trail data directly to researchers, saving participants a trip to the doctor’s office.
“One of the biggest problems that we have in the industry from a clinical trial perspective is finding the right patients,” said Delve Health Founder and CEO Wessam Sonbol. “But even when you find them, can we keep them in the trial? Can we make it easier for them to be part of the study? So that’s kind of really what we focus on.”
The goal is to gather better data and speed up trials.
Delve Health Founder and CEO Wessam SonbolSonobol points to his laptop in this Golden Valley office. Delve Health created a digital platform that connects with wearable health devices like an Apple Watch.
“Maybe instead of a drug taking 10 years and costing $2 billion, maybe we can shave — maybe six months off of that and hopefully help save more lives,” Sonbol said.
The funding will also help Delve meet new clients at conferences across the country.
Sonbol told CCX News the company is in a growth period, and the approximately $30,000 grant from the state will help with their expansion plans.
“Every dime is important and every movement is important,” he said. “Marketing and advertising is very critical to make sure that when we speak about what we do, people truly understand.”
Other recipients of the Launch Minnesota Business Operation Innovation Grants include AcQumen Medical and Daynamica. Both are based in Golden Valley.
DEED awarded 16 total Launch Minnesota Business Operation Innovation Grants, providing up to $35,000 to to be used toward operational costs for startups.
“DEED knows that small businesses have a big impact on our state’s economy,” said DEED Commissioner Matt Varilek. “By investing in innovative, early-stage businesses, we’re creating opportunities for companies to grow and thrive in Minnesota.”
See also: Global Med-tech Firm Eyes Plymouth for New ‘Center of Excellence’
