Asana Medical, located in Miami Lakes, was named one of the top 11 finalists in 43North, the world's largest business idea competition. The teams competed in front of a panel of judges on October 30 at Shea's Performing Arts Center in Buffalo to win cash prizes in amounts between $250,000 to 1 million.
Asana Medical submitted its business idea to improve the quality of one's health, and therefore, the quality of life by providing a novel treatment for debilitating digestive diseases with a patent-pending medical device that stimulates the body to heal itself. Asana Medical offered a drug-free, surgery-free twist on a proven therapy and targets the $9 billion ulcerative colitis market.
The Buffalo Billion Initiative, spearheaded by Governor Andrew M. Cuomo, the New York Power Authority, and Launch NY are the primary and founding sponsors of the event. Asana Medical completed and moved ahead through two rounds of judging and left the competition with $250,000.
The competition attracted nearly 7,000 applications from 96 countries and all 50 states. All finalists will use their winnings to create new economic opportunity in the Buffalo-Niagra region while taking advantage of the mentoring and support services provided in the form of a one year incubator space made available in Buffalo, and access to other business incentive programs such as Start-Up NY.