Golden Valley Med-Tech Startup Companies Receive State Funding
The Minnesota Department of Employment and Economic Development (DEED) has announced $400,000 in grants to startup companies through its Launch Minnesota Business Operation Innovation Grants program. One of the recipients is Golden Valley-based Delve Health, a medical technology company that has developed a digital platform connecting with wearable health devices such as Apple Watch.
Delve Health’s platform allows clinical trial data to be sent directly to researchers, eliminating the need for participants to visit the doctor’s office. According to Delve Health Founder and CEO Wessam Sonbol, “One of the biggest problems we face in the industry is finding the right patients for clinical trials and keeping them engaged.” The platform aims to simplify participation and gather better data, potentially speeding up clinical trials.
“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 explained. The state funding will support Delve Health’s expansion plans, including attending conferences across the country to meet new clients. The approximately $30,000 grant will be crucial for their growth, as Sonbol noted, “Every dime is important and every movement is important. Marketing and advertising are critical to ensure people understand what we do.”
Other Golden Valley-based recipients of the Launch Minnesota Business Operation Innovation Grants include AcQumen Medical and Daynamica. In total, DEED awarded 16 grants, providing up to $35,000 each to support operational costs for startups. DEED Commissioner Matt Varilek emphasized, “DEED knows that small businesses have a big impact on our state’s economy. By investing in innovative, early-stage businesses, we’re creating opportunities for companies to grow and thrive in Minnesota.”
