Startup Receives $150K Grand Prize for Artificial Intelligence-Driven Robotics System to Expedite Diagnosis of Critical Illnesses
LOS ANGELES and SINGAPORE, October 10, 2019 – MedTech Innovator, the premier nonprofit startup accelerator in the medical technology industry, today announced NDR Medical as the winner of its 2019 Asia Pacific Showcase Program. The winning company was determined by a live audience vote on October 9 at The Asia Pacific MedTech Forum, hosted by the Asia Pacific Medical Technology Association (APACMed), in Singapore.
Based in Singapore, NDR Medical is developing a robotics system that uses artificial intelligence and image processing to automate the targeting of lesions and expedite the diagnosis of critical illnesses.
“MedTech Innovator serves as a remarkable platform that offers medical device startups valuable resources and a vast network of industry leaders,” said Alan Goh, CEO of NDR Medical. “These essential elements will surely help support NDR Medical as the company navigates through its rigorous regulatory and commercial programs.”
Chosen by an audience vote from a pool of nearly 180 early-stage medtech companies, NDR Medical was awarded the $150,000 non-dilutive grand prize to advance its business goals and mission to improve future health outcomes of patients in the region. The company was also awarded a one-year software license from Siemens Industry Software and a one-year membership to APACMed. Inochi Care, was the second-place winner and received a prize of $25,000. Crely Healthcare, and Nesa Medtech were also finalists in the organization’s 2019 Asia Pacific Showcase program.
“We are thrilled to announce NDR Medical as the 2019 Asia Pacific Grand Prize winner,” said Paul Grand, CEO of MedTech Innovator. “Each of the four finalist companies stand to provide significant value to patients in the region, with innovations that promise to advance precision medicine, minimally invasive surgery and critical care. We are excited to follow NDR Medical’s progress, along with the rest of this year’s Asia Pacific Showcase companies, as they continue in the shared mission to improve outcomes and expand access to care for patients.”
The MedTech Innovator Asia Pacific Showcase program selected high-performing startups from across Asia Pacific and provided them with exposure to industry leaders, awarding over $300,000 in cash prizes and in-kind awards. During the final competition, MedTech Innovator also announced winners of additional awards.
Eko.ai was announced winner of the SG$50,000 Startup SG grant from Enterprise Singapore and a fast-track to the SLINGSHOT competition, providing them with another opportunity to pitch and win additional prizes November 11-13 at the Singapore Week of Innovation and Technology. The company also received an award for one-year of residency at JLABS @ Shanghai, a state-of-the-art facility that can accommodate more than 50 start-ups across the pharmaceuticals, medical device, consumer and health tech segments.
Judges of the 2019 Asia Pacific final competition included Peter Hawkes, head of New Business Development, Medical Devices Asia Pacific, Johnson & Johnson; Townsend Goddard, senior vice president, global head of Business Development, Olympus; Deep Tankha, senior director of marketing, Cardiac Rhythm Management, and Endoscopy Asia Pacific, Boston Scientific; Andy Frye, senior vice president and president Asia Pacific, Baxter.
“As an industry partner of MedTech Innovator for the past seven years, it is great to see the success of this inaugural year in Asia Pacific as demonstrated by the overall quality of these four finalists and the 20 geographically diverse startups selected for the Showcase,” said Susan Morano, Vice President, Business Development for the Johnson & Johnson Medical Devices Companies. “We congratulate NDR Medical for winning this year’s competition and their role in bringing innovative new solutions to patients.”
Together with the senior leadership teams of its corporate partners and judges, MedTech Innovator traveled to Japan, Australia, Singapore and China to meet more than 35 candidates in person. Twenty companies were then selected to participate in the Asia Pacific Showcase program, which prominently features the most innovative medtech startups from the region. Four finalists were then chosen from the 20 Showcase companies to compete in the grand finals.
MedTech Innovator works closely with stakeholders across the industry to foster the growth of early to mid-stage startups. MedTech Innovator’s 2019 Asia Pacific program sponsors include Johnson & Johnson Medical Device Companies, Amgen, Boston Scientific, JOHNAN, Olympus Medical Systems Group, and Terumo. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the premier nonprofit startup accelerator in the medical technology industry. Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the healthcare system. MedTech Innovator matches healthcare industry leaders with innovative early-stage and emerging growth medtech companies for mentorship and support. For more information about MedTech Innovator, visit https://medtechinnovator.org/ and follow @MedTechAwards on Twitter. To receive industry insights and highlights about MedTech Innovator’s current and alumni participant companies, subscribe to the monthly newsletter.