On Saturday, February 24, University of California, Irvine (UCI) startup Syntr Health Technologies placed as a top 10 finalist for Baylor University’s Hankamer School of Business and Innovator’s seventh annual New Venture Competition at the Paul L. Foster Campus for Business and Innovation in Waco, Texas. The company was awarded $10,000 from the competition in addition to $2,500, which was contributed by an anonymous donor, for a total of $12,500 in funding.
Judges selected 50 finalists to submit their full business plan and of these participants, 10 finalists were selected to participate in the two-day competition.
“These funds will help us reach new heights as a company — we couldn’t be more thankful,” said Hugo Salas, chief operations officer of Syntr, who also expressed thanks for everything UCI has done to help Syntr in their journey. “Where we are today is, in large part, thanks to the incredible resources of UCI Applied Innovation and the Cove.”
Syntr uses UCI technology for their innovative therapeutic device, Syntrfuge™, which treats diabetic foot ulcers using stem cells. These additional funds will cover molds and early manufacture components and also help with the FDA 510(k) clearance.
With Syntrfuge, Syntr hopes to improve medical care for diabetic patients who suffer from foot ulcers.
“A year or two from now, our goal is to begin marketing and selling our therapeutic so people have a chance to get back up on their feet and go back into the workforce or start providing for themselves,” said Ahmed Zobi, founder and chief executive officer of Syntr.
For more information about Syntr Health Technologies, visit here.