Healthtech startup NERv Technology Inc. is in the thick of an eventful year. From entering TechAlliance’s BURST incubation program for life science startups to recently closing a $1m CAD round of pre-seed funding, it’s clear that their innovative sensory platform is gearing up for growth. We asked Amr Abdelgawad, co-founder and COO, about his BURST experience, getting connected with London’s established life science network, and what’s next for NERv.
What were your expectations going into the BURST program, and what has been your experience as part of the current cohort?
NERv was aiming to further expand its clinical network by gaining access to clinicians in the London area in order to validate its technology. BURST and its mentors’ network gave us access to a plethora of knowledge and insight about the healthcare system in North America allowing us to execute our strategies effectively.
In addition, the programming provided by BURST is valuable for early-stage startups as it helps steer them in the right direction. Startups can be faced with plenty of opportunities and it might be challenging to determine which approach is the most optimal.
By working with mentors who have experience running and managing young ventures, we were able to better focus on an effective strategy that helped us achieve key milestones in the past few quarters.
Is there anything in particular that you feel will enable your team to achieve further success as you grow your business?
BURST funding and programming have been key to NERv’s growth and success lately. NERv has been able to attract top talent, which has been instrumental in achieving a number of key milestones.
Just as the mentorship has been an invaluable resource in the last few quarters, we expect that learnings from mentors and coaches through the program workshops will continue to enable us and increase our chances of success.
Congratulations on a very successful round of pre-seed funding! What will investments like this enable you to do next?
Thank you! The funding will help cover the remaining costs of product development and pre-clinical studies, putting us in a position where we would be ready to begin clinical trials. The funding will also help us attract more talent that will be key to our development and growth over the next period.
What are you most excited for in the next year?
We are extremely excited about our first in-human studies, which will be conducted over the next year. This represents a huge milestone for NERv and gets us one close to our goal of delivering a technology that has the potential of saving thousands of lives that are lost annually due to the late detection of post-operative complications.