Who assesses the application?

For the first part of the application process, the MedTech Actuator team will be assessing applications internally. If asked to provide further information for due diligence, MedTech Actuator partners, including MinterEllison and FBRice, will provide services to assist the team.

Startups that get through to the next round will undergo deep due diligence and will be required to pitch – with Q&A – to our Innovation Assessment Board,  made up of our global corporate partners, clinical partners, product development partners and legal partners.  

Why does the MedTech Actuator take equity in the companies?

MedTech Actuator is committed to and invested in the success of Accelerator startups, both during and beyond the duration of the program. Taking equity aligns MedTech Actuator’s interests with yours and incentivises us to push harder and go the extra mile for our founders.

The 5% participation fee is what makes our 9-month, ‘one of a kind’ program possible and puts in place a strong relationship between each startup and MedTech Actuator, enabling ongoing support and a greater chance of success.

Through this model, we are able to provide access to over 100+ speakers, 1:1 individual mentoring for the duration of the program, and lifetime access to our resources and communities without taking capital from early-stage startups.

What are your investment terms and participation fees?

The MedTech Actuator charges 5% equity for participation in the program through a SAFE, at a standard valuation of $1M.

During the program, startups may be offered access to an exclusive funding partner to help launch their first professional capital raise with the Fund as their lead investor. This is triggered after meeting certain predefined milestones within the program within the first phase. Investment is not guaranteed as the Fund will conduct its own due diligence to determine which startups to invest in under its thesis and mandate.

The program equity fee is the same for all startups. For companies that have raised before with sophisticated and/or wholesale investors, MedTech Actuator is open to matching the previous valuation.

Should I reapply if I have been told ‘no’ before?

Yes. Sometimes we say no to companies because they are too early in their journey to extract the most value from the MedTech Actuator. 

Often these companies are good candidates for our early-stage competition, MedTech Actuator Origin. MedTech Actuator Origin will provide you with the opportunity to refine your technology and business model. It is free to enter and provides a small cash prize to the winner to develop their startup further. 

If you’ve applied for the Accelerator program in the past and continued to develop your company and technology — either within the MedTech Actuator Origin or on your own — you should consider re-applying for the MedTech Actuator Accelerator.

How do you choose which companies to accept into the MedTech Actuator Accelerator Program?

We focus on team, market, technology, traction and impact. 

  • Team: We look for passionate, well-rounded founder teams with strong complementary skills in key areas such as technology, clinical, business and commercialisation. These teams have a unique insight into their market and are high-integrity, inspiring leaders with a focus on execution.
  • Market: We like markets within the MedTech, HealthTech and BioTech sectors that are either large but ripe for disruption, underserved, or so radically new they don’t yet exist.
  • Technology: Our specialty is deep tech with a regulated path to market. We look for technologies and products with the potential to create unfair market advantage and a clear path towards strong, protectable IP.
  • Traction: Ideas matter but the execution makes the difference. That is why we like to see evidence of early traction or data points validating your core assumptions such as early proof of concept and safety data, a robust need validation, or expressions of interest from lead users or customers.
  • Impact: Human flourishing is embedded in our DNA, values and approach. Technologies that prevent avoidable illnesses through prediction, prevention and early intervention; improving wellbeing and quality of life for people with existing conditions; and saving lives through medical intervention for life-threatening conditions.

Read this blog post about refining your accelerator application.

What is the application process?

A summary of the information you’ll need to submit can be found here.

You’ll be required to submit basic information about your startup and the founding team.These applications are assessed on an ongoing basis from February until March 29.

The most promising teams will be invited to an interview with MedTech Actuator and will be requested to provide further information for due diligence which is conducted by both MedTech Actuator and FB Rice.

Based on the information provided, due diligence and interview, you’ll be offered a place in the MedTech Actuator Accelerator.

Is my project/team eligible?

Our program is targeted at MedTech, HealthTech, and BioTech startups at TRL 4 and above. Our specialty is healthcare startups with robust IP and a regulated path to market, however if your healthcare product has the potential to impact human lives then we’d love to see an application from you.

Slick apps and user interfaces are great, but what gets us excited are radical new technologies like diagnostics, implants, instrumentation, robotics, personal preventative medicine, precision medicine, telemedicine, consumer health, AI and VR that will create a step-change in our healthcare systems and economies.

To be eligible for the respective Accelerator program, founders/teams must be:

  • For Accelerator Australia:
    • Based in Australia, or internationally with an ability to travel to Melbourne to attend intensive sprints and a demo day in person
  • For Accelerator Singapore:
    • Based in *Singapore, or internationally with an ability to travel to Singapore to attend intensive sprints and a demo day in person
      • *For Singapore-based founders/teams ONLY: (a) is registered for less than 10 years; (b) have at least 30% Singapore Citizen/Permanent Resident shareholding; and (c) have group annual size turnover less than $100M or less than 200 workers.
  • Incorporated as a company, however, this is not required at the time of application.
  • Aware that setting up a startup and commercialising medical technology is demanding. The MedTech Actuator Accelerator is intensive and requires that teams can commit sufficient resources. We require at least one cofounder to participate in the Accelerator for the duration of the program.

If you are unsure about eligibility or have any other questions about our program, you can speak to Makenzie, Portfolio Manager, before submitting an application.

Where should I be based to be eligible to participate in the MedTech Actuator and where is the program delivered?

Participants in MedTech Actuator Accelerator can be based anywhere around the globe, however, we do require you to have the ability to travel to Melbourne or Singapore to attend the respective cohorts’ intensive sprints and the Showcase in person. 

The location of sprints may vary based on the cohort, with the majority of sprints taking place in Melbourne, Singapore and others online. Interstate and international participants may be provided with online access where possible, however, the program cannot be guaranteed to be 100% hybrid.