
MedTech Actuator Accelerator 4th birthday
Here's to another year of supporting APAC's best emerging medical innovations through the MedTech Actuator Accelerator!
From the very first MedTech Actuator Accelerator cohort in 2018 to today, over 50 medical innovations have developed into startups leading Asia Pacific's health transformation.
Last night, we got together with our alumni to celebrate our six cohorts navigating the commercialisation journey.
Looking back to reflect forward
Alumni joined us on stage last night with their original pitch decks from day one. This highlighted the strength of founders within our community, and how far they've come since completing the MedTech Actuator Accelerator.
Looking back to where we've been is an essential part of the process. It provides perspective and reassurance that we've come a long way and the confidence to rise to challenges ahead. Founders can tackle anything. Especially when they've got a community of founders, industry experts, investors, researchers, and clinicians backing them from the beginning.
Tips from our founders
Tip 1: Make sure the content can stand on its own. Fancy branding will only get you so far.
Hitesh Mehta and Peter Vranes, Nutromics: "When we pitched, Nutromics had just landed on our new logo, so we put it everywhere -- actually six times on our competitors' slide. Don't do this. Keep it simple and clear. As of today, we've raised $6M in total. We are very appreciative of the faith that Buzz Palmer, Vishaal Kishore, and the MedTech Actuator had in us. It was the conduit that got us to where we are today."
Tip 2: The team is everything. When pitching and applying to programs, let us know who you are and what you stand for.
Elise Sutherland, Stelect: "We didn't have a team slide, which I thought was odd. We mustn't have thought team was important, but that's something we learned through MedTech Actuator. Team is crucial. According to our market slide, Stelect was doing it -- we're going everywhere. It was not a market entry strategy, it was an every market strategy. Things have clearly changed since then and our expectations are more realistic now..."
Tip 3: Back up your claims and value proposition. And, if you don't know something or you're making an assumption, that's okay. We don't expect you to know it all.
Alex Newton, Navi Medical Technologies: "In our first pitch deck, our value prop was making things better and, of course, we reduced the risks whilst doing so. No quantifications needed -- we just made things better. We leveraged this notion to back up our subscription revenue model, which lasted for about a month after we pitched to MedTech Actuator. That all changed when we spoke to hospitals and they laughed in our face. If you're thinking about the path to market, it is probably going to take twice as long as you expect. The MedTech Actuator Accelerator was a real catalyst and enabled us to take that first step!"
Proud to celebrate with you
Thank you to the founders and everyone who surrounds and supports them. Together, we make up the MedTech Actuator community and it brings us great pride to watch you grow and move closer to market. We can't wait to celebrate our 5th birthday with you all next year!
The MedTech Actuator Accelerator is supported by LaunchVic and the REDI Initiative, powered by MTPConnect.