Aimee Martin and David Zachary Martin
Baltimore-based BondTrue was awarded a $256,000 grant from the National Science Foundation (NSF) for development of its surgical closure device.
The Small Business Innovation Research (SBIR) award is non-dilutive, meaning that it doesn’t require the startup to exchange equity in the company to receive funding. CEO Aimee Martin said the stamp of approval from the NSF makes this grant a big step towards reaching commercial release, as it will fund live testing at the University of Maryland. Martin said the company is seeking out non-dilutive grants to minimize risk and mature the product before taking it to bigger investors.
“Having the support of the NSF will allow us to attract the right funds and the right investors at the right time,” said Martin. “Using this funding to de-risk the technology before we go out and raise venture capital is our strategy.”
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