Make your MedTech Actuator Origin 2022 application stand out

Thinking about applying to the MedTech Actuator Origin Program? Here are some top tips on how to make your application shine from Shanna Lam, Project Officer at MedTech Actuator.

As a biodesign alumna and an ex-founder I know first-hand how complicated the journey ahead can seem. It does take a village to bring health innovation to market. Luckily, we at MedTech Actuator have done this before and are here to help.

MedTech Actuator Origin is an early-stage innovation program that turbocharges the development of emerging human health technologies and solutions across Australia and it is the perfect place for emerging founders to start.

"This is the best first step you can take if you are interested in the MedTech innovation space. The Origin experience will provide you with mentorship, networking and connections. Also, the practical pitching advice you receive will help you in getting further investment or just getting people interested in your idea," says Wiliam Symington, co-founder of Anura Medical, on his program experience.

Applications are currently open for the 2022 program. Below are key areas where you can strengthen your application to put your best foot forward.

1. Make sure you're eligible!

First, double-check the eligibility criteria:

  • You have a research project, idea or innovation in human health in its early stages of development.

  • You are highly motivated to learn about innovation commercialisation, as well as Australia's health, medical and biotechnology startup ecosystem.

  • You are able to attend all program activities.

  • You have at least one team member based in Australia.

2. What is the problem you are trying to solve?

First, tell us what you know about the problem you are solving, who has this problem, and why you're motivated to solve it.

Some questions to think about: What are the current hospital workarounds, or the daily impacts it has on the patient? Who are the people it affects -- patients, doctors, hospitals, family members, insurance companies, and the government?

Customer validation

A good first step would be to figure out who are the users and beneficiaries of your innovation -- clinicians, patients, and payers. Next, getting a better understanding of their perceptions about the problem, gaps and potential solutions could be the key to understanding the market.

Tim Tyndale, Quitta: "Customer validation can seem like an inconvenient step that slows the building process. In truth, validating the problem and solution is more important in MedTech/BioTech than almost any other field. In a highly regulated industry, the further you go down the development journey, the harder it gets to make adjustments. Without developing a deep understanding of the needs of our customers, we could have spent lots of time and money building a product that no one wanted at the other end."

We are not expecting you to conduct dozens of formal customer interviews but we want to make sure you understand how this problem is currently being solved and why your solution would be better.

3. What is your solution?

Once you've validated your problem, now is the time to revisit the solution -- what proof do you have that this problem needs to be solved and that your solution will be used? Can you communicate this in the most simple terms?

Practical tips for the application:

  • Be concise, don't use too much technical jargon and tell us how the solution addresses the problem identified.

  • Don't just tell us how great you think your solution is, tell us who else thinks it's great, how many people you've spoken to and what feedback you've received. Back your solution with evidence where possible.

4. Passion

Being a startup founder is hard, and can be overwhelming at times. Health ventures could sometimes take years to enter the market and secure a revenue stream, so motivation, focus and a strong support system can't be underestimated.

We want to know what drives you to pursue this project, and what does it mean to you? How can we know that you will be committed in the long run?

"Challenging the existing market and making the device available to patients is what drives me forward," says Lorace Zhang, CEO of Vysum.

In your application, be sure to tell us what makes you passionate and committed to this project, and why you and your team are the right people to take this to market.

Here to help with your next steps

If you have any questions, please don't hesitate to book a call with the team. Starting a company can be overwhelming and exhausting. But it doesn't need to be -- connection, community and relationships of support are what make the difference. If you decide to join us on the journey, you will be welcomed into our community of 250 MedTech founders.