Accelerator to feature 20 transformative startups seeking to improve health outcomes in the Asia Pacific region
LOS ANGELES, December 10, 2019 – MedTech Innovator, the premier nonprofit accelerator in the medical technology industry, today announced a call for startups and emerging growth companies in the Asia Pacific region to apply to its 2020 Asia Pacific program. Selected startups will receive a slot in the MedTech Innovator Asia Pacific Accelerator and be eligible to compete for up to US $300,000 in cash and awards. The deadline to apply is January 17, 2020. There is no application fee and no equity is required from participating companies.
MedTech Innovator launched the Asia Pacific program in 2019 in partnership with the Asia Pacific Medical Technology Association (APACMed), the first and only regional association to provide a unified voice for the medical technology industry in Asia. The annual Asia Pacific Accelerator is designed to provide 20 best-in-class startups with high profile visibility to healthcare investors, stakeholders, and key decision makers. Selected startups receive one-on-one mentorship and coaching from industry leaders to help drive commercialization of breakthrough medical technologies throughout Asia Pacific.
“With the support of our vast network of industry partners, the MedTech Innovator Asia Pacific program is an exciting and unique opportunity to help accelerate medical innovation in Asia,” said Jenell Robinson, Head of MedTech Innovator Asia Pacific. “We look forward to identifying the top medtech startups in the Asia Pacific region and connecting them with stakeholders who can provide vital mentorship. The carefully curated mentorship will ultimately help these start-ups bring valuable solutions to market, improving the lives of patients.”
The highest scoring companies from the online application review are invited to participate in regional pitch events, where startups present to a variety of industry-leading judges and key opinion leaders, including investors and senior executives from medtech companies such as Johnson & Johnson, Boston Scientific, JOHNAN Corporation, and Olympus. The top 20 companies will also earn a slot in the MedTech Innovator Asia Pacific Showcase, an on-stage interactive program at APACMed’s Asia Pacific MedTech Forum in October 2020. All 20 companies receive customized mentorship and the eligibility to compete for the grand prize.
“The MedTech Innovator Asia Pacific Showcase has already proven instrumental in uniting promising medtech startups with potential investors and partners who can help bring these breakthrough technologies to market,” said Harjit Gill, CEO of APACMed. “Participation has resulted in financial investment, recruitment of board advisors, and establishment of research partnerships for startups. APACMed is thrilled to support this program and see the impact this continued partnership will have on innovation and patient access in the Asia Pacific region.”
NDR Medical, the inaugural Asia Pacific Showcase competition winner, was determined by a live audience vote on October 9 at APACMed’s 2019 conference in Singapore. The company 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. NDR Medical was awarded a $150,000 non-dilutive grand prize to advance its business goals and mission to improve future health outcomes of patients in the region.
In addition to the finals competition, eko.ai was awarded the Startup SG Award, providing SGD$50,000 and a fast-track to the SLINGSHOT 2019 competition and the JLABS @ Shanghai incubator space award, providing a year of free residency. Eko.ai capitalized on the momentum from its MedTech Innovator win and won the Grand Prize at the SFF x SWITCH SLINGSHOT 2019 competition.
All early- to mid-stage medical device, diagnostic, and digital health companies are encouraged to apply for the 2020 Asia Pacific program. Final company selections will be announced in July-August 2020.
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. Founding sponsors include Johnson & Johnson and RCT Ventures, and annual program sponsors include Baxter, Boston Scientific, NIPRO Medical Corp., Olympus Medical Systems Group, W. L. Gore & Associates, Inc., BTG, Fujikura, HOYA Corp., JOHNAN Corp., Maxim Integrated Ventures, Alira Health, EdgeOne Medical, Experien Group, Greenlight Guru, Proxima Clinical Research, Westwood & Wilshire, and Ximedica. The organization’s industry partners include AdvaMed, Health+Commerce, MedTech Strategist, and Wilson Sonsini Goodrich & Rosati. 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 our monthly newsletter.
About Asia Pacific Medical Technology Association
Founded in 2014, the Asia Pacific Medical Technology Association (APACMed 亚太医疗技术协会) is the first and only regional association to provide a unified voice for the medical technology industry in Asia Pacific. APACMed works proactively with bilateral, regional and local government bodies to shape policies, demonstrate the value of innovation, and promote regulatory convergence. APACMed engages with medical device associations and companies in Asia Pacific to jointly advance regional issues, code of ethics and share best practices. Learn more about the association at www.apacmed.org.