Our Impact

We are invested in making a meaningful difference in the lives of patients and their families around the globe.

We strive to give back to others while also creating something of significant and lasting value.
We do this by advancing innovative solutions for clinical practice that are sustainable, cost-effective and accessible.
We believe these things because we have seen the power of their impact.

Our Impact: 2023 Annual Report

2023 annual report cover

Read the annual report to learn how Fogarty Innovation accelerated the invention, development, and deployment of new technologies into clinical care in 2023. The report covers key accomplishments in our educational programming, the progress of companies and entrepreneurs in our incubation programs, and how we work with our alliance partners to increase understanding and cooperation across the innovation ecosystem.

Our Impact: Helping Companies

Making Medical Innovation Happen

CEOs from current and alumni Fogarty Innovation companies describe the unique benefits of incubating their companies at Fogarty Innovation – including tailored, practical educational programming; “full contact” coaching from highly experienced and committed staff;  leadership training; and the lifelong support of a dedicated community of health technology innovators and entrepreneurs.

Our Impact: Training Entrepreneurs

“I’m only beginning to realize the impact that it’s had on me personally – as I grew as an engineer, as I grew as an entrepreneur, and as I grew as a leader.”

Cam Hutton, Founder, Healyx Labs

Our Impact: Advancing Diversity

Training Global Health Entrepreneurs

Healyx Labs was founded out of Stanford’s Design for Extreme Affordability class with the goal of advancing wound care in low resource, low income settings. The company’s first product was designed to provide the gold standard treatment, negative wound pressure therapy,  using a simple, low-cost technology that met the resources and environment where it would be utilized.

Learn more about Healyx Labs and how Fogary Innovation supported Cam’s evolution from student to medtech innovator and leader.

“You have a young population coming up now with different levels of expectation… They’re looking at who’s making what I’m buying. So this is a brave new world and we need to be prepared to operate in it.”

Ingrid Ellerbe, Executive Director, DxD

Improving Diversity in Healthtech

Diversity by Doing HealthTech (DxD) was founded and is supported by Fogarty Innovation and Stanford Biodesign to improve diversity in the medtech innovation ecosystem. DxD  programs address diversity across the talent pipeline, from creating opportunities for underrepresented students to learn about and get hands-on experience in medtech, to building a community of contacts and mentors for young medtech professionals, to helping company leaders operationalize diversity and inclusion. DxD’s affiliate program helps companies take meaningful action to improve diversity internally and within the industry.

“Students are going to gravitate towards what they know. So if we don’t show them new opportunities, we are limiting their choices – we are limiting their agency for their future.”

Jaclyn Babcock, Former Director, Career Pathways Programs
Boys & Girls Clubs of the Peninsula

 Boys & Girls Clubs of the Peninsula

Boys & Girls Clubs of the Peninsula serves the communities of Redwood City, Menlo Park, and East Palo Alto. The organization works to empower students with access to social, academic, and career opportunities to thrive. Fogarty Innovation partners with BGCP to introduce students to medical technology innovation as a career path and provide them with opportunities to observe clinical medicine and gain hands-on experience in health technology innovation and development.

Our Impact – 2023 Highlights

We are proud to share some of the 2023 accomplishments that support our three pillars.

Create

  • In 2023, we hosted a total of 29 companies within our incubation and acceleration portfolio.
  • Overall, our Companies-in-Residence have raised $257M during their time at FI and gone on to raise more than $1.2B after graduation.
  • Our success rate in terms of companies experiencing a positive liquidity event is 5x the industry average.
Educate

  • Organized 26 in-person half-day workshops and lunchtime educational events for our entrepreneurs and the innovation community.
  • Developed the second TCT MedTech Innovation Forum in partnership with the Cardiovascular Research Foundation (CRF). More than 2400 healthcare professionals and industry leaders attended.
  • Hosted three cohorts of FDA Fellows for week-long educational immersions, developed and presented four FDA webinars to an average audience of more than 300 staff members.
  • Hosted our tenth class of the Lefteroff summer interns, 116 interns to date.
  • Supported Diversity by Doing HealthTech in the inaugural Pathways in Health Technology program, which introduced community college STEM students to career opportunities in medtech. We also continued our support of other DxD programs.
Elevate

  • Hosted a US PTO site experience education visit for PTO examiners and contributed to a 600+ person all-hands meeting
  • Expanded our partnership with A*STAR/Singapore Biodesign to three education/incubation programs.
  • Formalized our partnership with the UCSF-Stanford Pediatric Device Consortium, committing to provide four in-depth physicals annually and advance one company through a six-month collaboration.
  • Co-hosted the annual Catalyst for Community Partnership Dinner with MedTech Color in an effort to spur meaningful conversation, share ideas and discuss ways to drive diversity, thought leadership and innovation in medtech.

Impact/Success Stories

“We wouldn’t be alive today without Fogarty Innovation.”

– Company-In-Residence CEO