July 1, 2020 - Mente, a leading developer of surgical instrument technology designed to enhance surgical efficiency and safety, has been awarded a Small Business Technology Transfer (STTR) Phase I award from the National Science Foundation (NSF). This prestigious award underscores the commercial potential of Mente’s innovative solutions to reduce the cost of surgical operations while meeting the NSF’s rigorous intellectual merit and broader impact review criteria.
Wes Hill, CEO of Mente and the Principal Investigator on theaward was excited to receive notification, and looks forward to kicking off the proposed R&D.
We were thrilled to learn that a very qualified group of scientific and business reviewers recognized the potential impact of our proposal on improving efficiency in the operating room (OR). This funding will enable us to further develop our RFID surgical instrument tracking systems, paving the way for smarter operating rooms and delivering significant cost savings for the healthcare system.
The awarded project focuses on capturing instrument usage data to quantify surgical techniques, a breakthrough that aligns with the NSF’s mission to advance the progress of science while fostering innovation. By leveraging this funding, Mente will continue its work to refine its ability to track instruments with instrument tracking systems and instrument tracking software, ultimately improving operating room workflows and resource allocation.
Also known as America’s Seed Fund, the NSF’s STTR program aims to foster a culture of innovation by supporting technology-based startups and small businesses. The program facilitates the commercialization of cutting-edge research and technology, providing critical funding for translating ideas into viable products. The STTR is a variant of the SBIR grant and is specifically designed to support the transfer of technology from research institutions to small businesses. Organized by the Small Business Administration, the program is funded through 11 federal agencies, including the NSF.
A Phase I STTR award focuses on establishing the feasibility, technical merit, and commercial potential of research. With an award rate of only 17%, securing a Phase I STTR highlights the exceptional quality and promise of Mente’s technology.
Mente’s RFID surgical instrument tracking technology allows hospitals to increase operating room efficiency by improving the surgical supply chain. The technology has the potential to generate cost savings of $8.5 billion annually for the U.S. healthcare system. By gathering real-time data on surgical instruments in the operating room, Mente’s solutions optimize surgical procedures, predict surgical instrument needs, and streamline both scheduling and supply chain logistics.
This technology enables predictive scheduling and counting surgical instruments, which can save up to $500,000 per operating room annually and reduce costs by $14 per minute of operating room time. With the STTR funding, Mente plans to develop computational tools to further enhance surgical analytics, improve operating room scheduling, and optimize tools used during surgery, using real clinical data to validate its impact.
The partnership with Duke Health will play a pivotal role in testing and advancing the licensed technology. This collaboration ensures that Mente’s solutions are thoroughly validated in clinical settings, driving their adoption in hospitals nationwide.
Mente has developed a revolutionary product that uses RFID tracking technology to collect data on surgical instrument usage in the operating room. This data-driven approach helps hospitals reduce costs and improve efficiency by optimizing surgical instrument trays. Dedicated to advancing its technology, Mente aims to improve hospital quality improvement and ensure the highest level of patient safety. For more information, please visit mentemedical.com or connect with Mente on LinkedIn.
© 2024 mente Inc. All right reserved.
