The medtech industry came together last night for MedTech’s Got Talent, hearing innovation pitches from the top medtech companies to watch in Australia – with five companies moving forward to each take home $20,000 and a spot to participate in the Actuator’s six-week accelerator program run now to April 2018.
At the conclusion of the program an invitation-only event Investor Deal Pitch will see the teams put to the test in front of real investors; and the overall most investable team will then receive an additional stage-gated $40,000 with no impact on equity or IP.
The 13 semi-finalists had three minutes each to pitch their business concept to the judging panel, which included MTPConnect’s CEO Sue MacLeman. The panel was then tasked with debating and selecting five finalists against criteria including innovation, market, pathway, sustainability and soft skills.
Sue presented the MTPConnect award to the Stelect team mentored by MiniFab. Stelect’s product is a medical device that is inserted directly into the coronary artery of the patient to provide a visual representation of the blockage. Its aim is to provide the required stent size for each patient to be permanently inserted.
“Congratulations to all of this year's semi-finalists. The Victorian Government is proud to be supporting the young and talented medtech entrepreneurs who are working to make Australian lives better and strengthen this sector which will be a crucial part of our future economy, " said Minister for Innovation and the Digital Economy Philip Dalidakis.
Navi Medical were multiple winners on the night scoring the $1,000 People’s Choice Award and the Ernst and Young award. Navi representative Wei Sue spoke about the company’s new Umbilical Vein Catheter (UVC) solution to improve the successful placement of catheters in critically-ill neonates.
MUVi’s representative Murray MacDonald was presented with the Artesian Award. Their pitched talked about the importance of UV sterilisation and surface cleaning of hospital equipment to limit patients and/or hospital staff’s exposure to infections.
Cerebro Biosystems won the Johnson and Johnsons Innovation Award for their technology, which detects early stage sepsis in less than six hours at the patient’s bedside.
Geldom won the Medtronic award for its hydrogel condom technology promoting safer sex, aiming to prevent STI’s across the world.
MTPConnect was proud support MedTech’s Got Talent and The Actuator at the gala event. The Actuator is a national MedTech Accelerator that has received funding through the MTPConnect Project Fund Program. The Actuator is a collaborative national program that gives promising early-stage medical technology companies an accelerated pathway to $2.7 million of funding, capitalising on Australia’s strengths in medical research, healthcare, clinical trials and advanced manufacturing.