Fogarty Institute of Innovation

Fogarty Innovation operates as a non-profit educational incubator focused on advancing medical innovation. Founded in September 2007 by the internationally recognized cardiovascular surgeon and inventor Dr. Thomas J. Fogarty, the institute is dedicated to mentoring and training medical innovators. It is located on the campus of El Camino Hospital in Mountain View, California, providing a collaborative environment for emerging medtech companies.

Dr. Fogarty's journey as an inventor began long before his medical career; at age 15, he invented the centrifugal clutch for motor scooters. His most notable contribution to medicine is the Fogarty balloon embolectomy catheter, a device that revolutionized the removal of blood clots and has been used in over 300,000 procedures annually worldwide. This invention, born from a challenge by his mentor Dr. Jack Cranley, showcased his innate ability to identify clinical needs and devise practical solutions, a philosophy that now underpins the Institute. Throughout his career, Dr. Fogarty has acquired over 190 medical patents and founded or co-founded more than 45 medical technology companies.

The institute functions as a 501(c)(3) non-profit, primarily funded through contributions, grants, and program services. It provides early-stage medical companies with intellectual, physical, and financial resources. The business model is centered on its incubation programs, which support entrepreneurs from concept to commercialization. This includes the flagship Company-in-Residence (CIR) program, which offers a multi-year home for early-stage medtech companies, often led by first-time CEOs. Companies receive hands-on coaching from seasoned medtech executives, access to a 30,000-square-foot facility with labs and office space, and a curated educational curriculum. The organization also fosters alliances between innovators, industry, and government agencies like the FDA to strengthen the medtech ecosystem. The companies supported by the institute have collectively returned over $5 billion to investors. The current CEO, Andrew Cleeland, brings nearly 30 years of experience in the medical device industry, having led multiple startups to successful acquisitions.

Keywords: medical device incubator, medtech accelerator, healthcare innovation, non-profit incubator, medical technology startups, company-in-residence program, Dr. Thomas J. Fogarty, Andrew Cleeland, cardiovascular devices, minimally invasive surgery, medtech education, venture philanthropy, El Camino Hospital, medtech mentorship, clinical innovation, regulatory guidance, intellectual property strategy, life science startups, bioelectronic medicine, digital health technologies