PhysioWizard secures free tenancy
Back pain firm wins place on incubator scheme
Medtech start-up PhysioWizard will get six months’ free tenancy at MediCity Scotland, one-to-one business coaching and access to a UK and international life sciences mentoring network.
The Develop Accelerator Programme is offered through a partnership with the Glasgow City Deal, North Lanarkshire Council, Scottish Enterprise and BioCity Scotland.
It provides companies in the medtech, digital health and wellbeing sectors with intensive support from a network of expert coaches from industry and the wider eco-system.
The coaches work closely with participants to challenge and thoroughly test the ideas for new products, services and business areas, helping them to identify and test their hypothesis and assumptions before designing a business model which then has a greater chance of success – and especially before raising investment.
PhysioWizard, which was founded by chartered physiotherapist Kirsten Lord (pictured) in Edinburgh, is the world’s first clinically validated online self-assessment platform that treats people with back pain. To win the MediCity programme, the company pitched against six other firms which included academic spin-outs and industry entrepreneurs.
Ms Lord said: “I was thrilled to be recognised by the independent and distinguished judges at the end of the Develop programme against fellow cohort participants who proved to extremely stiff competition.”
Lower back pain is the biggest cause of ill-health in the world and the PhysioWizard collects data from the patient and uses a series of sophisticated software algorithms to give advice and treatment.
Ms Lord added: “I’m very excited about the business being engaged with MediCity Scotland where we can benefit and grow from the extensive support on offer and the close proximity to like-minded organisations. The programme which has been a hugely valuable experience with expert advice, cohort participation and access to a UK wide life science mentoring network, is second to none.”
Toby Reid, managing director of BioCity said: “Our Develop programme is highly practical – there is nothing else like it in the life science sector in Scotland.
“Our goal is to help participants discover a scalable business model that will allow them to build a successful company with substantially less money and in a shorter amount of time than using traditional methods.
“Everyone who has completed the programme also then has the scope to be considered for further one-to-one coaching, tenancy to the MediCity Scotland incubator, an investment readiness programme and access to our extensive Life Science Mentor Network, which are all an invaluable source of support.”
The next programme, due to start in September, is looking for its next cohort of academics, entrepreneurs, start-up and scale-up medtech, digital health and wellbeing firms.