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Female-led startup commercialising novel stent size selection device takes out the top prize in MedTech’s Got Talent

Summary: Stelect, a female-led, Victorian startup commercialising a novel coronary stent size selection device, has taken out the top prize for the 4th cohort of MedTech’s Got Talent.

STC Australia and The Actuator are excited to announce that the $40,000 top prize for MedTech’s Got Talent has been awarded to Fay Gibson, Elise Sutherland, Elizabeth Griffiths and Marc Stringer from Stelect, who are out to change the world with their stent selection device, ensuring that life changing decisions are based on fact, not guess work.

From over 160 applications, Stelect emerged as the overall most investible team after a series of elimination rounds, including $20,000 (non-equity) funding and a place in our intensive 6-week accelerator program. The program culminated in an Investor Deal Pitch, where a panel of seasoned seed-stage investors selected Stelect to receive an additional $40,000 (non-equity) in prize money to drive their project towards commercialisation.

Spun out of the University of Melbourne’s BioDesign Innovation program, Stelect is disrupting the $1.7bn PCI market with their low cost, accurate and fully integrated device.

Minister for Innovation and the Digital Economy Philip Dalidakis said “The Victorian Government has been a proud supporter of medtech entrepreneurs through MedTech’s Got Talent since 2014. Congratulations to all the companies that took part and particularly to Stelect on their victory.”

MedTech’s Got Talent was primarily supported by the Victorian Government through the Department of Economic Development, Jobs, Transport and Resources. Further sponsors of the initiative were the Australian Government (Department of Industry, Innovation, and Science), MTP Connect, Medtronic, Artesian, and Johnson & Johnson.

 

ABOUT THE ACTUATOR:

The first of its kind, The Actuator is a deeply collaborative national program that gives promising early-stage medical technology companies an accelerated pathway to $2.7 million of funding, capitalising on Australia’s strengths in medical research, healthcare, clinical trials and advanced manufacturing.

We’re about real markets, real needs, real healthcare and real experts. We surround our portfolio with people and tools that are doing things that really matter. We have a deep medtech focus—commercialising those genuinely radical new technologies like bionics, devices, implants, instrumentation and AI that will create a step-change in our health systems and in our economies.

This initiative has received funding through the MTPConnect Project Fund Program—a dollar-for-dollar matched program investing in big, bold ideas to improve the productivity, competitiveness and innovative capacity of Australia’s medical technology, biotechnology and pharmaceutical sector. MTPConnect is supported by the Australian Government Industry Growth Centres Initiative. Learn more at mtpconnect.org.au.

The Actuator is a spin-out of STC Australia—one of Australia’s longest-lived advanced technology incubator.

The Actuator is made possible through collaboration across our ecosystem partners who have come together to create Australia’s economic and healthcare future.

Our special thanks go to our partners and sponsors: MTP Connect, the Federal Government, STC Australia, the Victorian State Government, Artesian, EY, Johnson & Johnson, Medtronic, Cook Medical, Baker Heart and Diabetes Institute, Burnet Institute, Macquarie University, Swinburne University, Griffith Hack, MiniFAB, Planet Innovation, Procept, Hydrix, Wave Digital, Design+Industry, Ingenuity Electronics Design, IDE Group, Blue Curve, Brandwood Biomedical, Truly Deeply, Innermaven, EsicHub, Dialectica Group, Melbourne Angels, Invetech, Mobius Medical, Foundersuite, Australian Healthcare Solutions, Paul L Clark And Associates, Vestech, FAB9, F2F Communications, BioMelbourne Network, Cogentum, Global Data, GrantReady, Tenfold Business Coaching, K&L Gates, Science in Public and Seedly.

 

ABOUT STC AUSTRALIA:

STC promotes commercialisation and entrepreneurship around next-generation innovations with programs that grow new businesses. Many sectors, like biotechnology, medical devices, life science and information technology, are converging around this rapidly growing core of cutting edge innovation. STC seeds and catalyses new industry opportunities through the development and uptake of small and emerging technologies. STC provides the infrastructure to accelerate commercialization, links with key stakeholders across industry, government and academia necessary to nurture cross-fertilisation of innovation, and is the clear and consistent voice of those developing, integrating, or supporting emerging enabling technologies.

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