08 June 2022
Do you have an idea for a healthcare product or medical technology that can improve and change people’s lives? Entrepreneurs, startups, researchers and industry professionals worldwide are invited to apply for the Building Better Futures for Health (BBFH) Challenge to win up to $30,000 in IDE Group services.
IDE Group, an entrepreneurial commercialisation company that develops meaningful products and builds market-leading medtech businesses, has successfully hosted and supported the annual Building Better Futures for Health (BBFH) Challenge since 2016.
The BBFH Challenge offers individuals, R&D managers, researchers, universities, startups, and established businesses a unique opportunity to pitch their medical technology idea.
Successful applicants are in the running to win up to $30,000 in IDE Group services in entrepreneurial, commercialisation and medical technology development support, bringing ideas to life and kick-starting the commercialisation journey.
The final winner, as decided by the BBFH judges, will receive a total of $25,000 in IDE services and the opportunity to win an additional $5,000 in services, awarded on the day to the winner of the “People’s Choice Award”.
BBFH provides finalists and winners with the invaluable opportunity to obtain advice, mentorship, and financial guidance from IDE Group and the selected judging panel. Collectively you will have access to a cross-functional team of entrepreneurs, scientists, designers, engineers, and clinical professionals which bring together an established network of knowledge, experiences, and connections in the medical technology field.
“This year IDE’s medical technology investment team is particularly interested in appraising opportunities in the areas of drug delivery, digital surgical technology, point-of-care and self-test diagnostics, and wearable medical devices,” said John Kelly, CEO of Atomo Diagnostics and one of the BBFH judges with a track record of transforming health outcomes in the medical technology sector.
Nuroflux, a company that is developing a wearable device for real-time monitoring of stroke patients, was crowned the winner of BBFH Challenge 2021.
Sam van Bohemen, Co-Founder of Nuroflux, said “For early-stage medtechs and biotechs, it’s a significant challenge to get investment because it is a long road to commercialisation. Going through the BBFH pitching process was a brilliant way to validate our technology with a panel of industry experts. Winning the competition has propelled the growth of our company by funding product development through IDE Group. These types of early funding can be a critical stepping stone to securing future investment from angel investors and venture capitalists.”
George Sidis, Managing Director of IDE Group, said the philosophy of BBFH is about collaboration and making a difference through meaningful innovation.
“The BBFH Challenge is about working together to find, create, evaluate and invest in the best medical technology innovations. This includes offering specialised guidance, feedback and industry networks to help all BBFH applicants, not just the winners, along their commercialisation journey,” he said.
Applications close 25th August at 3:59 pm 2022.
BBFH 2022 will be a live event at the Powerhouse Museum Sydney on Wednesday 21st September 2022.
For more information on BBFH and how to apply, go to: www.bbfhchallenge.com
To find out more about the Nuroflux story, take a listen to Nuroflux Co-Founder Sam van Bohemen on the MTPConnect podcast!