Transformative healthtech AI company awarded prestigious US$ 175,000 Grand Prize at the 5th annual grand finals hosted by MedTech Innovator in partnership with APACMed
LOS ANGELES and SINGAPORE – December 8, 2023 – MedTech Innovator, the world’s largest accelerator of medical technology companies, in partnership with Asia Pacific Medical Technology Association (APACMed), the first and only regional association to provide a unified voice for the medical technology industry, today announced that Medipixel is the winner of the 2023 Asia Pacific Accelerator program. The winning company was determined by a live audience vote during the MedTech Innovator Asia Pacific 2023 Grand Finals hosted by MedTech Innovator in partnership with APACMed at the APACMed MedTech Forum, 5-6 December, in Singapore.
Medipixel is a South Korea-based company that has developed MPXA, empowering physicians to diagnose better and treat cardiovascular disease, the leading cause of death in the world. Leveraging AI, MediPixel provides rapid and real-time analysis solutions that can support physician decision-making during interventional procedures.
The other finalists, Healium Medical (Israel), Module Innovations (India), and Vivo Surgical (Singapore), each received US$ 10,000. The four finalists pitched their technology and answered questions from a panel of renowned industry judges. After the presentations, the audience voted, and Medipixel received the most votes.
“Working with Medtech Innovator over the past year has been incredibly transformative for our team. We are extremely grateful for the compassionate mentors who have guided us in our mission to improve and save lives affected by cardiovascular diseases,” said Andy Song, CEO of Medipixel.
“MediPixel has the potential to dramatically improve the lives of patients with its AI-enabled solutions for real-time physician decision support in diagnosing and treating cardiovascular disease,” said Paul Grand, CEO of MedTech Innovator. “For the past five years, our Asia Pacific Accelerator program has selected the most compelling startups developing innovative solutions for the Asia Pacific market, and we congratulate all of the participating companies in our 2023 cohort.”
In addition to Medipixel’s Grand Prize of US$ 175,000 in non-dilutive funding, several additional companies were awarded prizes in the exciting culmination of the 2023 Asia Pacific accelerator program, held in front of the APACMed MedTech Forum conference audience of Asia Pacific’s medtech industry leaders.
Vivo Surgical was awarded the Cambridge Consultants Product Design & Development Award, where they will receive US$ 25,000 in-kind for exclusive technical and consultation services. Cambridge Consultants is one of the world’s leading product development and technology consultancy firms and is one of the primary mentors in MedTech Innovator’s Asia Pacific Accelerator.
Additionally, Neurowyzr was announced as the winner of Enterprise Singapore’s (EnterpriseSG) Startup SG award, comprising an SGD$ 30,000 grant prize and access to extensive resources and networks within Singapore’s startup ecosystem. As part of this award, the company was fast-tracked to the recent EnterpriseSG’s SLINGSHOT global startup competition at the Singapore Week of Innovation & TeCHnology (SWITCH) in October.
Vesica AI was named the inaugural Olympus Asia Pacific Innovation Program winner and will receive grant funding of US$ 75,000 as well as an exclusive mentorship program with key thought leaders from Olympus.
Also part of the 2023 MedTech Innovator Asia Pacific awards is the Best Video Competition, recognizing cohort companies’ excellence in effectively and creatively communicating their value proposition in a short video format. As voted by industry peers, Module Innovations won the title of Best Company Video and earned a US$ 5,000 cash prize.
The grand prize winner and all finalists were awarded a one-year membership to APACMed.
“Congratulations to the Medipixel team on its well-earned recognition,” said Harjit Gill, CEO at APACMed. “The award captures the spirit of the MedTech Forum Conference, with its focus on innovation and disruptive technologies in the Asia Pacific region. APACMed’s continued partnership with MedTech Innovator is a testament to our confidence in the program’s critical role in discovering and fostering the next great idea that could change patients’ lives and is critical to the future of medtech and the patients we serve.”
“Innovation is the essence of the medical technology industry and at the heart of what we do at Johnson & Johnson MedTech. We are proud to collaborate with the MedTech Innovator APAC Accelerator to foster a space for innovation in our region to accelerate,” said Ashley Wittorf, Head of Business Development – Asia Pacific, Johnson & Johnson MedTech. “There were several groundbreaking technologies showcased in this year’s MedTech Innovator Asia Pacific cohort; I am excited to see Medipixel recognized as they work to create measurable and meaningful impact on patient health.”
Over 400 companies applied for the Asia Pacific program this year, and after a rigorous selection process, 60 companies were invited to pitch, with 24 being selected for the four-month accelerator program. Featuring medical device, diagnostic, and digital health companies from around the globe, the 2023 cohort companies were provided customized resources, mentorship, an unparalleled network of over 600 global peers, exposure to industry leaders, and awarded over US$ 300,000 in cash prizes and in-kind awards. During the APACMed MedTech Forum, all 24 accelerator companies were showcased to the conference attendees, representing the key leadership of the Asia Pacific medtech industry.
Following company presentations, a panel of distinguished judges engaged in a Q&A session with the finalists before the audience cast their votes. Judges of the 2023 Asia Pacific final competition included: Biten Kathrani, Head of R&D, Vision Care, Johnson & Johnson; Praneet Mehrota, President, Asia Pacific, Teleflex; Vy Tran, President of Asia Pacific Japan, Siemens Healthineers; and Christian Kapischke, Senior Vice President Operations and Head of CoE IV-Access, B Braun Medical. Brian Benson, MedTech Innovator’s Vice President, Strategic Alliances served as emcee of the finals competition.
MedTech Innovator works closely with stakeholders across the industry to foster the growth of early to mid-stage startups. MedTech Innovator’s Asia Pacific Accelerator sponsors and partners include Johnson & Johnson MedTech, Olympus, Teleflex, Siemens Healthineers, B Braun Medical, Cambridge Consultants, Jabil Healthcare, and Enterprise Singapore, and dozens of community partners. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
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About MedTech Innovator
MedTech Innovator is the world’s largest accelerator of medical technology companies. Its mission is to improve human health by accelerating the growth of companies transforming care. MedTech Innovator has been a catalyst for groundbreaking healthcare solutions, reviewing nearly 10,000 applicants and fostering the growth of 613 companies that have collectively raised over US$ 7.2 billion in follow-on funding and introduced 287 products to the market, transforming the lives of millions.
For more information about MedTech Innovator, its annual programs, portfolio of industry-leading startups, and insights on trends, visit MTI’s website, follow them on LinkedIn, and subscribe to its monthly newsletter. Applications for MedTech Innovator Asia Pacific 2024 are now open until January 31, 2024, at MedTech Innovator Asia Pacific.
Founded in 2014 and headquartered in Singapore, APACMed represents manufacturers and suppliers of medical equipment, devices and in vitro diagnostics, industry associations and other key stakeholders associated with the medical technology industry in Asia Pacific.
Providing a unified voice for the medical devices and in-vitro diagnostics industry in Asia Pacific, APACMed works proactively with bilateral, regional, and local government bodies to shape policies, demonstrate the value of medical technology, and promote regulatory harmonization. APACMed strives to promote digital health innovation and impact policy that advances healthcare access for patients by engaging with medical device associations and companies in Asia Pacific.
APACMed is also host to the annual Asia Pacific MedTech Forum.