WHAT IS THE ACTUATOR ACCELERATOR

The Actuator is Australia’s first national seed-to-Series A accelerator for MedTech startups. Through intensive mentorship, industry collaboration, and value-network support, our portfolio companies can achieve in 15 months what can typically take 3 years or more.

We offer up to $200,000 investment per company and entry into a 15-month intensive program. The expected outcome is a globally competitive MedTech startup that has raised $2.7M+ in angel and Series A round funding and is well underway in their clinical trials.

The Actuator Accelerator is competitively accessed. We have a suite of priming programs to help projects develop to the point of eligibility (i.e. 2+ founders, TRL4).

THE DEAL TERMS

We offer flexible engagement in our program – but our deal terms are the same for every company that we bring into our portfolio. At the seed equity investment, the cost of capital is 1% equity for every $10,000 provided, up to a maximum of $200,000.

Regardless of the size of the investment, either 5% (partner) or 7.5% (non-partner) will also be taken for participation in the program. You must be formally nominated by this organization.

SPRINTS

For the first 6 months of the program, our portfolio companies undertake 1-week focused, sprints each month, tackling common high-risk challenges in the MedTech commercialisation pathway.

These sprints are not curriculum based – rather, they are interactive workshops and facilitated consultations with our expert partners – designed to tackle,  guide and add strategic thinking around those critical elements associated with your commercialisation journey.

We maximise our value network so you can focus on developing and executing against your go-to-market strategy.

“Down time” between sprints is spent implementing on the plan and working towards your next milestone, alongside rigorous mentoring, coaching and leadership support.

SPRINT TIMELINE

Month 1

Orientation Week

  • Risk management
  • Customer development plan to testing assumptions
  • Intensive consultation with senior executives and strategists to pressure-test your go to market strategy
  • Financial and administrative processes to identify issues
  • Clinical need validation with key opinion leaders

Month 2

Regulatory, Reimbursement & Clinical Development Plans

  • Regulatory issues: Intended use, indications for use, regulatory approval pathway requirements and approval timeframes, device classification, applicable standards, etc.
  • Clinical development plan with ethics submission support
  • Health economics
  • Scale-up and manufacturing – exports
  • QMS

Month 3

Fundraising, Equity and Cash

  • Investor pitch preparation
  • Non-dilutive options
  • Transactional preparedness

Month 4

Brand, Communications & PR

  • Brand teardown & collateral development
  • Media spokesperson training
  • Product/demo video development

Month 5

Customers & Partnering

  • Labelling – an often overlooked until too late requirement
  • Customer Support & Warranty
  • Mapping the sales process
  • Working with distributors

Month 6

Growth Strategy

  • HR systems
  • Business development and marketing platform implementation
  • Team assessment and Board (Directors, Advisors) build-out strategy

MILESTONES

Portfolio companies must advance along these milestones to unlock funding tranches and access matched funding.

Some portfolio companies may already have met some of these – in which case, you simply submit your documentation to satisfy the milestone.

Please note, this list is not exhaustive and is subject to change.

Month 1Month 2Month 3Month 4Month 5Months 6-12
Product scoping documentRegulatory strategy (one geography)Design inputsBrand portfolioProduct labelling and training requirements reportLegal templates
Patent landscaping and freedom to operate reportReimbursement code identificationClinical need validation reportStrategic communications planProduct architecture and designDevelopment iterations 1-3
IP assessment reportClinical trial design reportInformation memorandumLegal templatesClinic Unit Prototype with Design History File
KOL engagement planEthics submission

FACILITATED ACCELERATION

Cohort companies transition to a mentoring approach in the second half of the program, meeting monthly with their mentors and focusing on implementing on the plan and achieving key milestones.

INVESTOR ROAD SHOW

At the end of the program, we will coordinate an  Investor Road Show. We will set up meetings for you with tailored and relevant corporates, corporate venturing, venture capital, investors, or potential collaborators.

How to Apply

We take up to 10 companies per cohort, with a new intake every 6 months (February and July). The application process is staged to minimise the amount of preparation work required for applicants that do not advance. There will be a deep due diligence for startups that advance through the application stages – but we will help you through this process.

2019 FEBRUARY COHORT

1. Submit your application

Entrepreneurs and innovators of Australia – tell us your story! Submit your application online before 2nd November (5pm AEST).

2. Phone Interview

Top teams will be invited to a phone interview with The Actuator panel on 23rd November. Shortlisted candidates will be notified 19th November.

3. Innovation Assessment Board (IAB)

Successful applicants will be invited to pitch to our Innovation Assessment Board on 7th December in Melbourne. IAB invitees will be notified on 3rd December and online materials will be provided to help teams prepare.

4. Entry into The Actuator Accelerator

The top 10 teams will receive up to $200,000 seed equity investment and entry into The Actuator Accelerator 15-month program. The first national sprint kicks off in Melbourne in February!

 

APPLY HERE

Questions? We have answers.

Head to our FAQs to find out more.