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Locations: Singapore

Announcing MedTech Actuator Origin 2024 Award Winners

Posted on by MedTech Actuator

At the recent MedTech Actuator Showcase in Singapore, we joined ecosystem leaders to celebrate Asia Pacific’s next wave of early-stage MedTech, HealthTech and BioTech entrepreneurs – with LumiTRAC taking home the prestigious MedTech Actuator Origin 2024 Award, and UniMedical, Inc. winning the MedTech Actuator People’s Choice Award.

About MedTech Actuator Showcase

The inaugural MedTech Actuator Showcase Singapore event brought together 170+ senior representatives from over 30 key health innovation organisations to connect and celebrate the achievements, impact, and progress of entrepreneurs and founders.

Across the evening, guests heard from key enabling institutions – Enterprise Singapore, JETRO and the Osaka Chamber of Commerce and Industry – were taken into the commercial journeys of Moon Technologies with co-founder Tan Jian Ming, and SG Diagnostics with founder, Kate Qi, and witnessed the pitch finals of MedTech Actuator Origin Singapore and Japan.

Fireside chat with Singaporean startups: SG Diagnostics (Kate Qi) and Moon Technologies (Tan Jian Ming) with Head of International Programs at MedTech Actuator – Gwen Mah.

Stepping into the spotlight, the MedTech Actuator Origin finalists pitched for their chance to be crowned the winner of MedTech Actuator Origin 2024 and to secure a $15k cash and in-kind prize pack, with a fast-tracked entry into the 2025 Accelerator program. 

Teams pitching in the final included four from Singapore and one from Japan:

  • 2Strands Bioscience | Debleena Ray | Revolutionising oncology care with accurate and affordable blood test for cancer monitoring
  • LumiTRAC | Linn Yun Le | Developing a surgical retractor for minimally invasive breast surgeries to facilitate safe and expedient dynamic retraction
  • Optikare Technologies | Munirah Ismail | Bright futures begin with clear vision
  • Seamless XR | Ajinkya Bhat | Building wearable sensors and haptics for rehab gamification and post-stroke sensory re-education
  • UniMedical, Inc. | Dai Inagaki | Developing a medical device that contributes to the early diagnosis of heart diseases and provides new therapeutic intervention opportunities for patients

MedTech Actuator Origin 2024 Award: LumiTRAC

Congratulations to Linn Yun Le from LumiTRAC, who through a highly competitive process was selected by the judges – Pauline Erica Tay, NHIC, Anastasia Miros, KPMG, and Matthew Frith, MedTech Actuator – as the winner of this prestigious Origin award for 2024.

“It is really exciting to see such fantastic medical innovations coming through the Singaporean and Japanese ecosystems. The LumiTRAC team delivered an amazing pitch integrating a clear patient need with a strong commercial path. Congratulations again!  Dr. Buzz Palmer – Chief Executive Officer, MedTech Actuator

MedTech Actuator Origin 2024 Award winners: LumiTRAC with MedTech Actuator CoFounders Buzz Palmer and Vishaal Kishore.

Do you have an early stage idea for an innovation in human health? Register your details to stay up to date with key dates and details for MedTech Actuator Origin running in 2025.

MedTech Actuator People’s Choice 2024 Award: UniMedical, Inc.

Congratulations to MedTech Actuator Origin participant, Dai Ingaki from UniMedical, Inc., for being selected for the MedTech Actuator People’s Choice 2024 Award.

MedTech Actuator People’s Choice Award winner UniMedical, Inc. with Vishaal Kishore, Dai Inagaki and Buzz Palmer.

MedTech Actuator Showcase guests from the innovation ecosystem – spanning investor groups and VCs, multinational corporations, hospitals, product development firms, universities, and research institutes – voted for their favourite pitch of the night, with UniMedical, Inc. taking home the prize.

This coveted vote of confidence went to Dai Inagaki from UniMedical, Inc., who will take home an SGD$1K cash prize.

Special Guests

Thank you to our distinguished Showcase guests for your support of our MedTech superheroes and the ecosystem:

  • Dr. Clarice Chen – Director, Healthcare & Biomedical, Enterprise Singapore;
  • Mr. Yoichi Kimura – Director of Japan’s External Trade Organization [JETRO] Singapore,
  • Mr. Hiroaki Ueno – Chairman, Life Science Promotion Special Committee, Osaka Chamber of Commerce and Industry (OCCI)

It Takes A Village to Raise a MedTech Startup

The MedTech Actuator Showcase and the specialised acceleration model underpinning all of our programs would not be possible without the support of our innovation ecosystem partners. In particular we would like to thank our Foundation and Product Development partners including Enterprise Singapore, JETRO, and Osaka Chamber of Commerce and Industry for their critical and continued support of both the MedTech Actuator and the ecosystem.

Friends and supporters

A very special shoutout to all our ecosystem friends and supporters. Without you, we would not be able to surround founders with the support they need to bring innovations to the patients and clinicians who need it most.

MedTech Actuator Origin Singapore is supported by Enterprise Singapore.

MedTech Actuator Origin Japan is co-organized with JETRO – Japan External Trade Organization.

Meet Matt – Commercial & Partnership Director

Posted on by MedTech Actuator

Commercial and Partnership Director Matt Frith works with the MedTech Actuator team to develop and drive the execution of strategies to ensure the long term growth of the MedTech Actuator, and its programs such as MedTech Actuator Accelerator, Origin, Menzies Scholarship and Fellowship, and its ecosystem across Australia and the Asia-Pacific. This includes engaging with and supporting startup founders and developing and managing strategic relationships with key partners and stakeholders across public policy, health, and innovation ecosystems.

With an Executive MBA with Distinction from RMIT University, Matt is a successful and impact-driven senior leader with over 15 years of industry and innovation ecosystem experience leading and delivering complex commercial projects and partnerships to drive business and profit growth and social impact. His partnerships experience spans senior Sales & Marketing and Commercial roles in global manufacturing businesses with responsibility for managing teams, annual revenue budgets ranging from $40-$80 million, and strategic relationships with key partners across Australia, NZ and Asia.

Creating impact through innovation 

Matt has built programs to support, and collaborated with inventors, researchers, and technical R&D experts to successfully commercialise and translate new innovations. He worked within RMIT’s Activator team to establish and implement the inaugural startup and innovation programs. And for the last 4 years, he has supported The University of Queensland with the commercial development and launch of evidence-based digital health intervention, BeUpstanding, which is being used by thousands of employees to improve their health at work. 

With a passion for generating impact through innovation, Matt founded kin8 and over the last 7 years has delivered innovation commercialisation and change management projects for a network of diverse clients including RMIT University, The University of Queensland, JLL, Haworth, TALi Health, Fire Protection Association, Whitehorse City Council, LaunchVic, Defence Innovation Hub, The Victorian Government, and the Shared Value Project. 

“I’m looking forward to building on the solid foundation of existing relationships, networks, and diverse MedTech Actuator partners, and developing new collaborations that create mutual value”, says Matt.

Matt is super excited with the momentum and the ambitious growth plans that are in motion to further scale MedTech Actuator in the Asia Pacific region. With this, he can support an even greater number of founders to successfully commercialise innovative new technologies that will change the face of healthcare. He is passionate about the MedTech, HealthTech, and BioTech innovations leading to more personalised health care and a future where we can better understand, prevent, and treat mental health conditions.

“I’m driven to rapidly expand MedTech Actuator’s impact even further, and I’m inspired by founders that have the courage to take on the challenge of developing an innovative MedTech, HealthTech or BioTech startup.”



Meet our team

More on how the MedTech Actuator team is supporting Asia Pacific’s next wave of health innovators – meet: 

Meet Simran – Marketing Coordinator

Posted on by MedTech Actuator

Every team needs strong marketing and communication professionals to drive brand awareness, and coordinate promotional activities. As Marketing Coordinator, Simran Jain will be doing just that – bringing a unique background in marketing and biotechnology to the team at MedTech Actuator.

Simran will be managing all the marketing activities for MedTech Actuator. From content design to social media and supporting brand development, Simran will ensure that the MedTech Actuator programs reach the healthcare and startup ecosystems. On a day-to-day basis, Simran will oversee communication channels, in order to keep the community updated on MedTech Actuator Accelerator, Origin, Menzies Scholarship and Fellowship and the latest innovations and happenings.

“The core of a Marketing Coordinator’s purpose is to create value for the MedTech, HealthTech, and Biotech ecosystem. It is about communicating the opportunities to those who are driving innovation in medicine, such as startup founders, researchers, and clinicians. In doing so, I can have an impact to improve outcomes for patients and individuals who may be suffering.”

Simran holds a Master of management (marketing), with honours, from the University of Melbourne and a Master of Science (integrated) Biotechnology from VIT University, India. Before moving to Melbourne and working at social impact-focused startups, such as Far More and The Creative Co-Operative,  Simran carried out research in international labs in analytical chemistry through Mitacs Globalink Scholarship at MacEwan University, Canada, and in nanobiotechnology at the Indian Institute of Science, India. 

In addition to Simran’s marketing skillset, her background in biotechnology and applied science will enable her to connect deeply with the founders and medical technologies changing the future of healthcare in Australia and across Asia-Pacific. This dual-lens broadens Simran’s impact at MedTech Actuator beyond marketing, enabling her to identify innovation trends, and contribute to Medtech Actuator’s work with startups. 

“I am excited about the innovations emerging in MedTech and keen to see how they will revolutionise current approaches to well-being and care. I am delighted to be a part of this ecosystem and be able to contribute to the startups creating a difference.”

Meet our team

More on how the MedTech Actuator team is supporting Asia Pacific’s next wave of health innovators – meet: 

This piece was written by Makenzie Thomas, Program and Community Coordinator – MedTech Actuator.

Desafía Singapore applications opening soon

Posted on by MedTech Actuator

MedTech Actuator is supporting Spain’s next wave of health ventures to take bold, strategic steps into Asia Pacific’s thriving innovation ecosystem with the new Desafía Singapore program.

Paving the way to enter new markets.

As a gateway to South East Asia, and with a life sciences ecosystem valued at $22.5 billion (Startup Genome, 2021), Singapore is primed to enable European ventures to unlock new opportunities to transform healthcare. MedTech Actuator is proud to work together with ICEX Spain Trade and Investment to help ventures realise this potential with greater speed and scale. 

Building on the success of the inaugural Desafía Singapore in 2021 – applications will open soon to continue catalysing the growth of Spain’s MedTech and BioTech ventures in Asian markets.

Supported by the Research, Innovation and Enterprise 2025 masterplan by the National Research Foundation, Singapore has set aside $25 billion to support innovation over the next 5 years.

Singapore is also home to more than 50 regional and global headquarters of healthcare MNCs, with more than $300M invested in startups in 2018 alone. Singapore’s ecosystem supports the commercialisation of innovation in healthcare through providing strong clinical infrastructure, robust IP protection and leading biomedical research. 

Singapore welcomes entrepreneurs and tech talent to anchor themselves in Singapore with talent initiatives like Entrepass visas for foreign entrepreneurs. MedTech Actuator was recently appointed as an Entrepass partner to support overseas entrepreneurs – including Desafía Singapore participants – to establish a business in Singapore.

Expanding networks for greater health impact. 

Leading up to the launch of Desafía Singapore, our General Manager Singapore Joshua Lim travelled to Spain to help promote the new program. Joshua met with startups, accelerators, investors, and bioregions in Spain’s healthcare ecosystem such as Asebio (Asociación Española de Bioempresas), Telefonica, Basque Health Cluster, Caixa Capital Risc, Barcelona Health Hub and ACCIÓ.

“Spain’s vibrant ecosystem creates innovative and digitally-enabled medical solutions that are well-positioned to disrupt traditional healthcare services,” said Joshua.

“We see new opportunities for expansion and collaboration of commercial activities between Spain and Singapore’s ecosystem, and are excited to catalyse the acceleration of Spanish companies to bring their innovations to the leading medical institutions and corporations in the Asia Pacific region through the Desafía Singapore program.” 

ICEX Spain Team, 2021 Photo of Desafía Singapore program participants on Zoom call, 2021

The inaugural Desafía Singapore, 2021.

Spain’s health venture founders ready for liftoff in Asia.

An impressive cohort of health venture founders from across Spain joined the inaugural, two week immersive Desafía Singapore in late 2021. 

Founders built expertise in navigating global growth opportunities in Singapore, neighbouring Asian countries, and Australia. They participated in commercialisation workshops with a laser focus on growth in Asia, developed new cultural sensitivity to help them navigate the nuances of working in different countries across Asia, connected with industry mentors, and networked widely with healthcare stakeholders and investors.

Here’s what founders had to say about their Desafía Singapore experience.

“Great insights on the regulatory frameworks and inner workings of healthcare systems in many different countries.” –Pablo Sanchez, Adamo Robot

“I feel more prepared to approach the culture and market, knowing how the ecosystem works and with local friends that can support me. The biggest benefit of the program was the human relationships built, although I would call it a privilege. Thank you so much for everything.” –Vera Guerreiro, Mediktor

“I now have a better understanding of different MedTech spaces in Singapore and other countries in Asia – and how our company can enter and work in them.” –Jose Angel D’Amico Bravo, Cella 

“In other training and mentoring programs, you feel from day one that it is going to be a waste of time. But this was not the case with Desafía Singapore. We joined the program to build our knowledge of the Asia Pacific market and to start thinking about it for the next four to five years. But the last two weeks of sessions have been amazing. We have learnt so much about your region and discovered that we could have a sweet spot there.” –Ruben Molina, Innitius

Ready to grow your health venture in Asian markets?

If you are based in Spain and preparing to grow your health venture in Asian markets, Desafía Singapore can support you. 

Applications are opening soon – register your interest or reach out with questions to Joshua Lim at joshua[@]medtechactuator.com.

Feature photo: José María Blasco Ruiz, Carmen García-Cervigón, Joshua Lim and Patricia Rodríguez-Lucena at ICEX Spain Trade and Investment.

Desafía Singapore is delivered by ICEX Spain Trade and Investment and MedTech Actuator, supported by the Embassy of Spain in Singapore, Enterprise Singapore, National Health Innovation Centre Singapore, Agency for Care Effectiveness – Singapore, Stendard, National University Health System, National Healthcare Group Singapore, Singapore Economic Development Board, Ernst & Young, Austrade, HealthTEC Singapore Health Technologies Consortium, Philips, Singapore Biodesign, Japan External Trade Organization (JETRO), Intralink Group, and Ontogenix

EloCare: Helping people age gracefully with IoMT technology.

Posted on by MedTech Actuator

MedTech Actuator startup EloCare Pte Ltd is innovating in the internet of medical things (IoMT) and artificial intelligence (AI) to develop connected and smart healthcare devices that help people live longer and age gracefully.

Dr Mabel Yen Ngoc Nguyen and Fandi Peng founded Singapore-based EloCare, bringing their strong medical research, engineering, and entrepreneurial backgrounds to the company – with a focus on chronic and aging care.

Mabel and Fandi discovered that there was no reliable tool to detect and monitor over 35 menopausal symptoms, and went on to build the first menopause tracker. The wearable and accompanying mobile app can serve as a personalised healthcare assistant to help women make more informed decisions, with the support of their physician, about how to manage menopause. Easy to use and secure, the solution monitors symptoms through biomarkers and self-assessments, and interprets this data to provide lifestyle and medical suggestions. The team is working closely with researchers and clinicians to develop this solution.

“Throughout the R&D process, we uncovered more healthcare problems in aging and chronic care that can be addressed with our IoMT infrastructure. We are now working with our clinical partners to deliver better care,” says Mabel, EloCare CEO and Co-Founder.

EloCare recently won the Open Innovation Challenge 2020 for Industry Track, delivered by Enterprise Singapore in partnership with five of Singapore’s leading healthcare providers. The award opens more opportunities for EloCare to co-develop, test, and deploy solutions using their IoMT infrastructure with healthcare providers.

 

MedTech Actuator x Elocare

Starting with an idea, preliminary research, and a raw prototype the team joined Asia Pacific’s MedTech catalyst MedTech Actuator in 2020 to develop their prototype and go-to-market, IP, and regulatory strategies – and to connect with industry experts and potential investors.

“The MedTech Actuator has a strong local and international support network that spans government, product development, corporate, clinical, research, investor, and VC partners,” says Mabel.

Being embedded in this ecosystem gave EloCare brand advantages and opportunities to connect with strategic partners and investors. The MedTech Actuator has helped EloCare to connect with the right individuals for feedback and advice in the health innovation ecosystem, and the founding team would not hesitate to recommend the program to emerging founders.

“Navigating a startup in the MedTech space has unique challenges with a longer time horizon compared to a typical startup. Being in the right network and getting professional support early from MedTech Actuator can help startups avoid costly lessons down the road and tap into many opportunities to connect with strategic partners and investors.”

Mabel says the team was fortunate to have Johannes Mang as a mentor to guide them during the program and refine company strategies.

“Johannes is very experienced in the different stages of a startup journey and willing to put himself in our shoes to work through problems and share his insights,” says Mabel.

Photo of road at dusk, pink sky, street lights, empty road in one lane, car light streak through lane travelling opposite direction.

EloCare tips for early-stage MedTech entrepreneurs

Mabel notes that early-stage startups share a common challenge to develop a clear vision of what can be achieved in the short-term and long-term.

“Founders can be ambitious in their startup vision to create a disruptive solution. However being an early-stage startup with time and resource constraints, it is important to have a balance of ambition and pragmatism and to be flexible with goals,” says Mabel.

Mabel recommends ensuring the long-term vision can be broken down into attainable and profitable milestones. She says that it is also important to maintain focus and ambition – always working towards creating impact and developing a competitive advantage.

“Within the EloCare team, we as founders have intense discussions about our mission and plans for the company every time that we assess our progress and challenges. While it is not an easy discussion, it is essential for the life and growth of the company,” says Mabel.

Mabel believes that founders and early team members need to remain resilient and passionate to overcome constant uncertainties and challenges in building a startup.

“Most people will tell you why an idea doesn’t work, and most of the time, they are right. But it is more important to think about how to make something work,” says Mabel.

“Be open-minded enough to accept if a solution or an idea doesn’t work in the end – but only after putting 100% effort into trying to make it work first. On another note, make sure you ask for feedback from the right audience!”

Learn more about EloCare.

Photos by Anton Maksimov juvnsky and Jack B on Unsplash