Two years ago, Preceptis Medical, a Plymouth-based company that manufactures surgical tools to allow ear-tube procedures to be performed without anesthesia and with reduced pain and surgical time, was the winning entrepreneur at the MN Cup, the largest statewide new venture competition.
The startup rose to the top against more than 1,000 other Minnesota entrepreneurs in the 2013 competition and took home $65,000 to help get Preceptis Medical’s business off the ground. Since then, CEO Steve Anderson has been balancing the additional visibility, interested investors, and hospitals wanting to sign up for the technology.
Anderson says there’s also a strong interest from parents for an alternative to ear-tube procedures for their children. He and his colleagues recently met with an anxious mother from Texas. “She flew up with her child from Houston to have [the procedure] done in Minnesota. Her older son had previous issues with general anesthesia, and she was trying to avoid it. We met her during that process.”
Despite his company’s proven success, Anderson still laughs when asked if he has any advice for aspiring entrepreneurs. “That’s a hard question. It’s very different for every space, but I will say that it’s not for the faint of heart.”
The following institutions are participating in the Hummingbird TTS Ear Tube Delivery Study: The Mayo Clinic, Children’s Hospitals and Clinics of Minnesota, the University of Minnesota Children’s Hospital and Fairview Health Services. preceptismedical.com
If you’re a Minnesota entrepreneur with a great idea or startup, don’t miss the May 8 entry deadline for this year’s 11th annual MN Cup; mncup.org