Parasol Medtech wins $250K George Shultz Innovation Fund investment

Parasol MedtechDealroom has a profile for this one. Try Dealroom →, a University of Chicago medtech startup, has been selected for a $250,000 investment from the George Shultz Innovation FundDealroom has a profile for this one. Try Dealroom →. It shares this year's prize with fellow UChicago startup SignlDealroom has a profile for this one. Try Dealroom →, which also received $250,000.

Founded by Atman Shah, professor of medicine and clinical director of cardiology at the University of Chicago Medicine, Parasol Medtech has developed a novel, minimally invasive device to reduce the risk of stroke in patients with atrial fibrillation. Shah, who also serves as the startup's chief medical officer, has spent more than a decade performing left atrial appendage closure procedures.

“Parasol was born from those experiences and from a desire to create a safer, more effective solution for stroke prevention in patients with atrial fibrillation,” said Shah.

The 2026 finals marked 15 years of the George Shultz Innovation Fund. Over that time, the fund has invested $10.4 million in 83 startups, which have collectively raised more than $327 million in follow-on funding. The four 2026 finalists, announced in March, pitched to the Innovation Fund Advisory Committee before the two winners were selected.

“I have no doubt that both Signl and Parasol are going to make a big impact on society, and I'm excited that we are able to help support their ambitious goals,” said Shyama Majumdar, senior director of science accelerators and investments at the Polsky Center.

Read more: Polsky Center