Wednesday, 20 November 2019

TTA Bio-teams win $120 Million

01 October 2019 | News

The teams received orders totaling $120 million US dollars through AdvaMed, opening business opportunities across the global market

Taiwan's Ministry of Science and Technology Deputy Director-General Chun-Yi Tu first brought twelve biomedical startups to MedTech Conference 2019 in Boston, United States. During the exhibition, the teams received a total of 180 appointments with major medical manufacturers and academic institutions from around the world. The teams received orders totaling $120 million US dollars through AdvaMed, opening business opportunities across the global market.

MedTech Conference organizer AdvaMed has great influence in the biomedical industry due to its connections with 80 top tier medical manufacturers and 400 key members. The 12 startup teams from Taiwan Tech Arena (TTA), which collaborated with Taiwan Startup Institute (TSI) and the Biomedical Industrial Innovation Promotion Program, received significant attention during the exhibition. This included attention from the US military which has a high appreciation for Heroic-Faith Medical Science, the developer of a respiratory monitoring system; A Prevent Medical developed intra-and post-operatively implant to treat glottic insufficiency; FaceHeart developed Heart rate detection through AI; and Summed Taiwan which created braided catheter extrusions and device tooling also received business orders during the exhibition.

Taiwanese startups received applause from the global biomedical industry

Heroic Faith Medical Science, exhibited an AI-powered mobile solution connecting to a pre-tracheal stethoscope, received a clinical trial evaluation and business opportunities from the FDA, American Society of Anesthesiologists (ASA), American Dental Association, and US Military Health System for its respiratory monitoring and sound recognition. APrevent Medical, which developed an intra-and post-operatively implant to treat glottic insufficiency, received collaboration with Japan. FaceHeart developed heart rate detection through AI securing a partnership with Hewlett-Packard and Johnson Fitness for a smart cloud system. Summed Taiwan, which developed braided catheter extrusions and device tooling, secured a platform partnership after a one-on-one meeting with Terumo, academic institute University of Pittsburgh and UMASS.

TTA is not only connecting with Taiwan startups and the global startup ecosystem, but also actively promotes the development of the biomedical field through artificial intelligence, software, and semiconductor technology. TTA enables Taiwan's biomedical startups to receive attention from investors, and even international collaboration with Taiwan biomedical startup teams, increasing Taiwan's position in the global ecosystem.

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