Five Fledgling MedTech Startups Get $20,000 Seed Funding and Acceptance to Training & Mentoring Program
Summary: At the 21 May ‘The Finals’ gala pitch event, five finalists were selected to each receive $20,000 in seed funding, prizes and acceptance to the Accelerated Technology Roadmapping training and mentorship program in the 2015 round of MedTech’s Got Talent.
Melbourne, Australia – 26 MAY 2015:
Seventeen MedTech’s Got Talent (MTGT) semifinalist teams participated in a month of mentorship and training to prepare them to pitch their emerging medtech business and product concepts to a panel of industry experts and investors. All were seeking one of five coveted finalist positions, including a $20,000 cash prize as well as other prizes and services, and acceptance to STC’s intense 1.5 month Accelerated Technology Roadmapping (ATR) training and mentorship program to get fledgling start-ups ready to pitch for seed investment.
‘The Finals’ – a gala pitch event held on 21 May in Melbourne – gave the semifinalists three minutes each to pitch, with judging based on the core criteria of innovation, market, pathway, success and sustainability and soft skills. The top five teams are:
- Jennifer Tang and Jarrel Seah (mentored byToby McSweeney, Hydrix): Eyenaemia – Making Anaemia Screening as Simple as Taking a Selfie
- A non-invasive cloud-based anaemia screening tool using any camera-enabled smart device
- Kyle Slater, David Sly and Luke Campbell (mentored by Luke Martin, Tricycle Developments): Nuraloop – Know Your Ears
- A non-invasive, rapid and portable hearing diagnostic device
- Shane Battye, Indra Kurniawan and Raven Erata (mentored by Adam Bilney, Outerspace Design): Pathobin – Enhancing Patient Diagnosis with Digital Pathology
- A digital pathology hub paired with a scanning robot for simple, affordable digitisation of microscope slides
- Jacqueline Savage and James Bell (mentored by Alexander Gosling, Capstone Partners): MedPro – Remote Drug Delivery and Patient Monitoring
- A portable drug infusion and patient monitoring device for improved chemotherapy delivery management
- Andrew Yap and Bernard Duchesne (mentored by Robert Crowder, Cogent): Medtasker – Creating Safer Healthcare Communication
- A medical communication platform that enables task management, escalations and proactive critical alerts
The inaugural People’s Choice Award was determined by the audience, who cast votes for their favourite team. This year’s award went to Shane Battye, who received an impressive 30% of the ballots.
MedTech’s Got Talent is a unique program – part pitch competition, part accelerator – offering critical resources, skills development and seed funding to high-potential early-stage medical technology start-ups. The program’s intense timelines provide a ‘fast and soft fail’ approach to rapidly get projects ready and able to attract seed investment. The ATR program culminates in an Investor Boardroom Pitch, where early-stage investors will critique teams’ investment pitches and select an overall winner, who will take out an additional $40,000. All monies provided under MedTech’s Got Talent are “no strings attached” to keep these start-ups as nimble and attractive to early stage investors as possible.
“There were more fundable ideas than there were finalist positions, meaning that the five finalist positions were selected by the narrowest of margins. This speaks to fact that STC is achieving our goal entrepreneurship support in running this program, but we’ve got more we can do.” said Dr Laura Faulconer, COO of STC.
MedTech’s Got Talent 2015 is only possible thanks to generous support by the Victorian Government and sponsors: Johnson & Johnson Medical, Grey Innovation, Monash University, MiniFAB, Medtronic Australia, Second Nature, Leadership Management Australia, Frost & Sullivan, Pitcher Partners, Phillips Ormonde Fitzpatrick, Hydrix, Device Technologies, Global Data, CSIRO, Planet Innovation, Outerspace Design, Capstone Partners, Cogent, Cochlear, Tricycle Developments, York Butter Factory, Ernst & Young, Avino Media, The Social Science and BioMelbourne Network.
STC promotes commercialisation and entrepreneurship around next-generation innovations with programs that grow new businesses. STC seeds and catalyses new industry opportunities, provides the infrastructure to accelerate commercialization and links SMEs with key stakeholders across industry, government and academia necessary to nurture cross-fertilisation of innovation. For more information on STC programs, please visit www.STCaustralia.org.