Wednesday, 20 November 2019

MedTech Innovator Announces Finalists for $150K Asia Pacific Competition

08 October 2019 | News

Crely Healthcare, Inochi Care, NDR Medical, and Nesa Medtech have been selected as finalists to compete for the title of 2019 Asia Pacific Grand Prize winner, out of more than 170 applicants

Photo credit: Biospectrum Asia

Photo credit: Biospectrum Asia

MedTech Innovator, the premier nonprofit accelerator in the medical technology industry, on 8th Oct 2019, announced that Crely Healthcare, Inochi Care, NDR Medical, and Nesa Medtech have been selected as finalists to compete for the title of 2019 Asia Pacific Grand Prize winner, out of more than 170 applicants. Attendees of The MedTech Forum, hosted by the Asia Pacific Medical Technology Association (APACMed), will vote for the Grand Prize winner of $150,000 on October 9 in Singapore.

“We are thrilled to recognize these outstanding companies as the four finalists for our inaugural Asia Pacific Program,” said Paul Grand, CEO of MedTech Innovator. “The audience at The MedTech Forum will be faced with the difficult decision of choosing only one winner out of a group of transformative startups dedicated to providing access to better healthcare solutions. Although only one company is selected, all 20 Showcase companies that participated in the Asia Pacific program are on an important path to improving patient lives and the healthcare system as a whole.”

The four finalist companies are developing transformative medical technology innovations in the areas of precision medicine, surgical advancements, and critical care. 

  • Crely Healthcare, based in Singapore, is developing a wearable digital health device to detect and prevent surgical site infections in patients who have undergone surgery.
  • Inochi Care, based in New Delhi, India, is developing a multi-therapeutic wound healing device designed to overcome the challenges of complex wounds, such as diabetic foot ulcers, pressure sores and infections.
  • NDR Medical, based in Singapore, is developing a robotic system that uses artificial intelligence and image processing to automate the targeting of lesions and expedite the diagnosis of critical illnesses.
  • Nesa Medtech, based in Bengaluru, India, is developing a medical device to treat symptomatic uterine fibroids with an affordable, scarless and outpatient procedure.

During the competition finals, which will be held on the Plenary Stage at noon on Wednesday, October 9, each of the four companies will have seven minutes to pitch their technology and answer questions before a panel of four judges. After the presentations, the audience of more than 750 delegates will vote in real-time to select the winners. The first-place startup will take home a $150,000 non-dilutive cash prize. Second place will receive a $25,000 cash prize. There will also be an SG$50,000 cash prize and an invitation to join the qualifying round at the SLINGSHOT competition in Singapore awarded by Enterprise Singapore. Other prizes include a one-year residency awarded by JLABS @ Shanghai and a one-year software license award from Siemens Industry Software.

Judges include Peter Hawkes, head of New Business Development, Medical Devices Asia Pacific, Johnson & Johnson; Townsend Goddard, senior vice president and global head of Business Development at Olympus; Deep Tankha, Senior Director Marketing, Cardiac Rhythm Management, and Endoscopy at Boston Scientific, Asia Pacific; Andy Frye, senior vice president and president of Baxter, Asia Pacific.

Together with the senior leadership teams of its corporate partners and other judges, MedTech Innovator travelled to Japan, Australia, Singapore, and China to meet more than 35 candidates in person. Twenty companies were then selected to participate in the Asia Pacific Showcase program, which prominently features the most innovative MedTech startups from the region. The organization received more than 170 applications for its Asia Pacific program this year.

MedTech Innovator works closely with stakeholders across the industry to foster the growth of early to mid-stage startups. MedTech Innovator’s 2019 Asia Pacific program sponsors include Johnson & Johnson Medical Device Companies, Amgen, Boston Scientific, JOHNAN, Olympus Medical Systems Group, and Terumo. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.

 

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