US$300,000 in Prizes to be Offered in 2019

Asia Pacific Medical Technology Association (APACMed) announced its partnership with U.S. based MedTech Innovator on 10th October 2018 to launch MedTech Innovator Asia, a programme that aims to accelerate the growth of the most promising medical device, digital health, and diagnostic startups in the region.

APACMed, the regional trade association for the medical devices and in vitro diagnostics industry, will partner with MedTech Innovator, the premiere non-profit startup accelerator that identifies and supports emerging medical technology startups through customized corporate mentorship and funding opportunities. Since 2013, MedTech Innovator has reviewed over 2,500 early-stage companies from around the world and graduated 185 companies through its four-month Accelerator programme, which have gone on to raise over $700 million in follow-on funding. 733 companies applied in 2018.

“As the only regional association to bring together the medtech industry stakeholders, we are very excited to partner with the industry’s leading accelerator to launch the first MedTech Innovator competition in Asia,” said Fredrik Nyberg, CEO of APACMed. “The Accelerator programme will help advance the development of cutting-edge innovations emerging from Asian medtech startups and, ultimately, transform patients’ lives for the better.”

The Asia Pacific MedTech Forum will be host to the grand finals of the MedTech Innovator Asia competition in October 2019, where US$300,000 in non-dilutive cash prizes will be awarded to the shortlisted finalists of the 2019 cohort. The Grand Prize winner will be determined via an audience vote and announced live at the Forum. In addition, multiple incubator spaces will be awarded to select startups by the program’s corporate sponsors. In exchange for providing financial support and guidance to accelerate the growth of the startups, sponsors of MedTech Innovator Asia will gain access to the database of applicants sourced throughout Asia, the ability to leverage shared insights with other program partners, and the opportunity to explore collaboration with the finalists. Companies interested in sponsoring may contact Kathryn Zavala, Vice President Business Development and Operations at kathryn@medtechinnovator.org and Gabriel Sim, Director Business Development at gsim@apacmed.org.

Applications for startups to apply will open in November 2018 at http://medtechinnovator.org.

“MedTech Innovator is constantly looking for new partnerships to transform the healthcare industry by nurturing the best startups in the world,” said Paul Grand, CEO of MedTech Innovator. “Our partnership with APACMed will assist us in connecting with innovative startups and stakeholders across all major Asia Pacific markets. It will also provide access to funding while accelerating the development of ground-breaking technologies in order to improve the lives of patients, their care providers, and the health system as a whole.”MedTech Innovator competitions and pitch events have been held in the U.S., Canada, Europe, and Israel with the participation and sponsorship of MedTech Innovator’s corporate partners, including leading healthcare companies Johnson & Johnson, Baxter, Becton Dickinson, Olympus, Amgen, BTG, Fujikura Ltd., HOYA Corp.,PRESS RELEASENIPRO Medical Corp., and W. L. Gore & Associates, Inc. These partners provide financial support for the U.S. program and its prizes, and also provide human capital in the form of reviews, judging panels, and mentors in the Accelerator programme. Leading service providers such as EdgeOne Medical, Nordson Medical, and Ximedica provide financial support as well as technical, regulatory, and strategic mentorship.“As an industry partner of MedTech Innovator, we recognize the innovation landscape today is very geographically diverse and see the expansion of MedTech Innovator to this region as a great opportunity to expand our ability to identify innovation,” said Susan Morano, Vice President, Business Development for the Johnson & Johnson Medical Devices Companies.

MedTech Innovator’s 2018 programme also included the participation of the U.S. military, National Institutes of Health (NIH), Food and Drug Administration (FDA), and Biomedical Advanced Research and Development Authority (BARDA), as well as leading healthcare investors, manufacturers, providers, hospital systems, and payers. The organization’s prize competitions are held at some of the largest medtech industry gatherings in North America and Ireland, in partnership with Wilson Sonsini Goodrich & Rosati, The MedTech Strategist, and AdvaMed. Connected by the same vision, APACMed and MedTech Innovator will launch the first competition in Asia in 2019, combining the rich expertise of both platforms and expanding the network to connect more disruptors with potential partners and investors.