MedTech Innovator Announces Finalists for US$300K+ Third Annual Asia Pacific Competition
Four companies to compete in Grand Finals hosted by MedTech Innovator in partnership with APACMed
LOS ANGELES and SINGAPORE, 11 October 2021 – MedTech Innovator, the largest accelerator of medical devices in the world, 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 Biorithm, Miraquels, Opharmic Technology, and VPIX Medical have been selected as finalists to compete for the title of the 2021 Asia Pacific Grand Prize winner, out of more than 500 applicants.
The winning company, which will receive US$175,000, will be determined by virtual audience vote on Wednesday, Oct. 20 during a joint event hosted by MedTech Innovator in partnership with APACMed at the APACMed MedTech Forum. More than US$100,000 in additional awards will be presented to the finalists during the event.
“The companies selected to compete as this year’s finalists are each developing a medical technology solution that has the potential to significantly help patients in the APAC region and beyond,” said Paul Grand, CEO of MedTech Innovator. “We were excited by the 260% increase in the number of applicants this year, and we were equally impressed by the caliber of companies applying and selected to participate in our program. With support from our industry partners, reviewers, panelists, and APACMed, we have added a great deal of value to our best-in-class cohort’s products and development programs through corporate mentorship and our educational curriculum. I’m looking forward to seeing who the audience chooses as our 2021 winner!”
“I would like to congratulate the four finalist companies – this recognition is a testament to the promise of your innovations,” said Harjit Gill, CEO, APACMed. “APACMed continues to be a proud supporter of MedTech Innovator’s Asia Pacific program, and we are excited to host the MedTech Innovator Asia Pacific Finals at the MedTech Forum 2021 where the Grand Prize winner will be announced.
The four finalist companies are:
- Biorithm is developing a comprehensive remote monitoring platform that combines wearable and data analytics for women with high-risk pregnancies. The company is based in Singapore.
- Miraqules is developing StopBleed, a product that stops post-traumatic bleedings in 40 seconds – five times quicker than existing solutions. The company is based in Bhubaneswar, India.
- Opharmic Technology is developing an ultrasonic non-invasive ocular drug delivery device with the goal of replacing intravitreal injections. The company is based in Hong Kong.
- VPIX Medical is developing cCeLL, a handheld fluorescence microscope that enables real-time intraoperative digital biopsy to allow for clean surgical margins. The company is based in Daejeon, South Korea.
During the competition finals, each of the four companies will have six minutes to pitch their technology and answer questions before a virtual panel of five judges. After the presentations, the virtual audience will vote in real-time to select the winners. The first-place startup will take home a US$175,000 non-dilutive cash prize. The other three finalists will each receive a US$10,000 cash prize. There will also be a SG$30,000 non-dilutive grant and an invitation to join the qualifying round at the SLINGSHOT competition in Singapore awarded by Enterprise Singapore. Other prizes include a one-year residency awarded by JLABS @ Shanghai, the Oliver Healthcare Packaging Sterile Barrier System Design & Development Award, and the Cambridge Consultants Product Development Award.
Judges include: Peter Hawkes, senior director of marketing, Ethicon, Johnson & Johnson; Yuji Takamiya, senior supervisor, Olympus; Ryota Umegaki, manager business development, Nipro Medical Corporation; Julie Tay, senior vice president and managing director, Asia Pacific, Align Technology; Florian Belohlavek, senior vice president and head of strategy, Asia Pacific, Siemens Healthineers.
Together with the senior leadership teams of its corporate partners and other judges, MedTech Innovator evaluated more than 500 applications for its Asia Pacific program this year. Twenty companies were then selected to participate in the Asia Pacific Accelerator program, which prominently features the most innovative medtech startups from the region.
MedTech Innovator’s 2021 Asia Pacific program sponsors include Johnson & Johnson Medical Devices Companies, Align Technology, Nipro Medical Corporation, Oliver Healthcare Packaging, Olympus Medical Systems Group, Siemens Healthineers, Cambridge Consultants, and Enterprise Singapore. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the largest accelerator of medical device companies in the world and 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 its monthly newsletter.
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. We strive 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.