As a biomedical engineering student, Lili Hostetler (SI and MBA ’24) noticed her peers focusing on developing the latest technology but felt they often overlooked the affordability of the devices they created. This realization prompted her to pursue a different path.

“I wanted to create a device that was specifically designed to tackle issues of affordability and access, in order to create something that is feasible for as many patients as possible,” recalls Hostetler. She turned her focus to lower limb prosthetics.

Hostetler found that amputees often struggle to purchase and maintain their prosthetics because of insurance barriers. Not only are the initial costs high, but even with insurance, companies often delay coverage for repairs. These findings led to the creation of Phoenix Biomedical, an affordable, customizable plug-and-play prosthesis.

An estimated 1.2 million Americans use a transtibial, or below-the-knee, prosthesis, making it the most common type in the United States. However, thousands more could benefit from a prosthetic but have not yet been approved or cannot afford the high costs involved. Phoenix’s mission is to reduce the challenges that prosthetic users often face due to lengthy approval processes and expense.

The startup’s below-the-knee prosthetic combines 3D printing with traditional manufacturing methods, which significantly reduces initial costs. Its plug-and-play model allows users to replace parts at home, and the company offers a unique subscription-based maintenance plan that covers repairs. A $50/month subscription keeps maintenance expenses predictable and easy to budget, providing patients with much-needed stability and consistency that current models often lack. This is especially important given the current environment surrounding Medicare and Medicaid.

Hostetler developed early versions of her 3D printed prototype last summer during the Skandalaris Launchpad accelerator program. Since then, she has used the prototype to pitch to investor groups and to secure funding through the SLU New Venture Accelerator and the Skandalaris Venture Competition, which she won in fall 2024. Her team participated in the Launchpad program again this summer, focusing on building an updated version of their prototype for beta testing with the help of Research and Development intern Dani Hoyt (EN ’26).

When asked what advice she has for current WashU students considering starting their own venture, Hostetler recommended that they begin customer interviews early and truly pay attention to the problems their customer faces. All too often, young entrepreneurs dive into a solution before truly understanding the problem they have set out to solve, wasting time, energy, and resources.

“Getting multiple people’s perspectives early on can help you build a better first prototype,” advises Hostetler. “Early customer interviews can also help to determine if you should pivot your startup idea early on before a lot of time and resources have already been used to build a prototype.”

She also recommends that young entrepreneurs get involved with the Skandalaris Center for mentoring and guidance. She noted that the Skandalaris Venture Competition is a great opportunity to make connections with mentors and other entrepreneurs in the community.

“SVC has helped me to connect with many others in the St. Louis entrepreneurship space who have provided me with both mentorship and networking opportunities,” said Hostetler. “Participating in multiple cycles of SVC has pushed me to create many successful revisions of our pitch deck, financial statements, and executive summary, which has helped me both within the SVC competition and when seeking other funding opportunities.”

To learn more about Lili’s experience with the Skandalaris Venture Competition, check out our Phoenix Q&A.

To learn more about Phoenix Biomedical, visit their website or connect with the startup on LinkedIn.